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Global Tert Butylamine Market to Grow at a CAGR of 6% During 2021-2026, Aided by the Growing Product Demand for Rubber Processing

According to a new report by EMR titled, ‘Global Tert Butylamine Market Report and Forecast 2021-2026’, the global market for tert butylamine is expected to grow at a CAGR of 6% between 2021 and 2026.

Tert butylamine is used as an intermediate in the production of accelerators for the rubber and tyre industries. In developed regions like Europe and North America, the growing demand for luxury cars is driving the demand for high-quality tyres in the automobile industry, which, in turn, is significantly contributing to the industry growth. Moreover, the growing adoption of electric vehicles owing to the favourable government policies in the region is expected to positively impact the sales of the product. Moreover, the thriving pharmaceutical sector is also aiding the market expansion. The growing competition over prescription drug home delivery among some of the biggest names like Walmart Inc (NYSE: WMT) and, Inc. (NASDAQ: AMZN) is expected to boost the sales of end-use products and further push the growth of the tert butylamine industry.

The capacity expansion by the major players is driving the growth of the tert butylamine industry. The manufacturers are increasingly focusing on expanding their business, particularly in the emerging regions like the Asia Pacific. In September 2016, BASF SE (OTCMKTS: BASFY), one of the leading players in the market, completed a major capacity expansion for tert butylamine (tBA) at its plant in China, marking an increase of 60% from its initial annual capacity of 10,000 tons. This would allow the company to fulfil the increasing demand for tyre additives in the Asia Pacific, especially China, and strengthen its global footprint. Such developments are expected to positively impact the overall growth of the tert butylamine industry.

Market Breakup by Application and Region:

  • Based on application, the industry can be categorised into pharmaceuticals, pesticides/insecticides, rubber processing, gas purification agent, and dyes, among others.
  • Region-wise, the global market for tert butylamine can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the growing demand of tert butylamine in various end-use sectors, particularly rubber.
  • The growing demand for automobiles and rising consumer disposable incomes are further accelerating the industry growth. 
  • The growing global population and the rising adoption of modern farming techniques are driving the demand for pesticides and insecticides, which is also aiding the market growth.
  • The industry will receive further impetus with the thriving pharmaceutical industry and expanding distribution channels.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for tert butylamine for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the applications and regional markets of tert butylamine.
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global tert butylamine market are BASF SE, Zibo Luhua Hongjin New Material Co., Ltd., and Leisha Pharma Solutions Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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