Alkyl Amine Market Size, Share to Grow at a CAGR of 5.29% by 2030 | ChemAnalyst
The Alkyl Amine market witnessed steady growth in the historical years and is estimated to reach a market volume of 3000 thousand tonnes with a CAGR of 5.29% until 2030.
According to ChemAnalyst report, “Global Alkyl Amine Market Analysis: Plant Capacity, Process, Technology, Operating Efficiency, Demand & Supply, End-Use, Foreign Trade, Type, Sales Channel, Regional Demand, Company Share, 2015-2030” The Alkyl Amine market witnessed steady growth in the historical years and is estimated to reach a market volume of 3000 thousand tonnes with a CAGR of 5.29% until 2030. Alkyl Amine market is mainly driven by its applications in the Pharmaceuticals, Agrochemicals, Water Treatment, Rubber chemicals, and Others (Paints, Dyes, feed, etc).
Alkyl Amines are derivatives of ammonia in which hydrogen atom in the ammonia molecule is replaced by one or more alkyl groups. Primary, secondary and tertiary aliphatic amines, depending upon number of hydrogen atoms replaced by alkyl groups, are important intermediates, which find a variety of applications in chemical industry. Lower aliphatic amines (C1-C6) are usually found in gaseous state & used as intermediates in the production of pharmaceuticals, agricultural chemicals, rubber chemicals, water treatment chemicals, and solvents. Aliphatic amines with longer alkyl chains (C8-C22) are often derived from fatty acids and are, thereafter, referred to as fatty amines. They are used in personal hygiene and laundry products as fabric softeners. Some other applications of fatty amine are as corrosion inhibitors and as deicing agents.
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The global Alkyl Amine market is segmented based on type, end-use, sales channel, and region. Based on type, the global Alkyl Amine market is divided into Methyl Amine, Ethyl Amine, and Higher Alkyl Amines (Isopropyl Amine, Hexamethylinediamine, etc). As of 2021, Higher Alkyl Amines are the leading segment with a market share of 34% followed by Ethyl Amine. Ethyl amines find applications in the making of lubricants and fuel additives, epoxy hardeners, wet strength resins, carbamate fungicides, chelating agents, bleaching agents & many more. It is a chief ingredient of crop protection chemicals. Hexamethylenediamine (HMDA) is of supreme importance for the manufacture of nylon-6,6 and plays an increasing role as a component of foams and resins.
Based on the end-user industry, the Alkyl Amine market is segmented into Pharmaceuticals, Agrochemicals, Water Treatment, Rubber chemicals, and Others (Paints, Dyes, feed, etc). Among these, the Pharmaceuticals industry is the leading segment and accounted for around 50% of the share of total Alkyl Amine demand in 2021. and is expected to maintain its dominance in the anticipated period as well. The agrochemicals segment is also expected to witness robust growth in the next few years, which will further boost the demand for Alkyl Amine in the future.
Region wise, Asia Pacific holds the maximum demand share of the Alkyl Amines having consumption of about 52% in the region in 2021. The growing populations and urbanization coupled with industrial revolution in developing regions of South & Southeast Asia is driving the market in Asia pacific region. The alkyl amines market is expected that it would grow at a promising pace through 2030. The ongoing healthcare & water treatment projects and growing agriculture, pharmaceuticals & daily use sector in the developing south Asian region is likely to fuel the market for Alkyl Amines in the forecast period. North America & Europe holds the second and third largest share of Alkyl Amine in terms of demand.
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“Global Alkyl Amine Market Analysis: Plant Capacity, Process, Technology, Operating Efficiency, Demand & Supply, End-Use, Foreign Trade, Type, Sales Channel, Regional Demand, Company Share, 2015-2030”, The major players operating in the global Alkyl Amine market are Anyang Jiutian Fine Chemical Co. Ltd., Mitsubishi Gas Chemical Company, Inc., Tosoh Corp., Balaji Amines Ltd., Alkyl Amines Chemicals Ltd., Huntsman Corporation, Dow - Du Pont, Delamine, Eastman Chemicals, US Amines, Methanol Chemical Company, Alkyl Amines Chemicals Ltd, Balaji Amines Ltd., and Others.
“Fast growing industries such as pharmaceuticals, agro-chemicals, refineries, water treatment, rubber, electronics, dye stuff & paints, animal feed, photographic chemicals & leather processing are heavily dependent on petrochemicals like Alkyl Amine. Aliphatic Amines and their derivatives predominantly find usage as solvents, followed by pesticides and animal/poultry feed additives. Hence, its broad range industrial & manufacturing applications are anticipated to propel the Alkyl Amine demand in the forecast period and offer various openings for manufacturers to expand their capacities to fill the demand and supply gap in future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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