Analysis of Alkyl Amines Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Newly released Alkyl Amines Market analysis report by Fact.MR shows that global sales of Alkyl Amines Market in 2021 were held at US$ 6.2 Billion. With 5.3% CAGR during 2022 - 2032 the market is projected to reach a valuation of US$ 4.3 Billion by 2032. Alkylamines are expected to be the highest revenue-generating category, projected to register a CAGR of 5% CAGR 2022 – 2032.
Global Alkyl Amines Market Size (2022)
US$ 6.6 Billion
Global Alkyl Amines Market Size (2032)
US$ 12 Billion
Global Alkyl Amines Market CAGR (2022-2032)
U.S. Alkyl Amines Market CAGR (2022-2032)
Key Companies Covered
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As per the Alkyl Amines Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of Alkyl Amines increased at around 6.1% CAGR. The market during 2022 – 2032 is projected to reach a valuation of US$ 5.3%.
The global alkylamines business will benefit from continued research and development activities as well as expanded scope in new applications. Alkylamines are a type of chemical substance that has surface activity. Due to their microbiological activity, cleansing ability, material compatibility and foaming capabilities, they are widely used in a variety of applications. With the surge in industrial output across various end-use industries, the demand for alkyl amines is also expected to expand.
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One of the key factors boosting the alkyl amines demand is the extensive use of Alkyl Amines as a solvent throughout numerous industries such as the paints and coatings industry, rubber manufacturing, pharmaceutical, agrochemicals, and water purification. In the future, feed additives and paper chemicals applications will further add to this requirement.From 2021 to 2027, the water treatment sector is anticipated to account for a significant proportion of the alkylamines market. Due to their remarkable cleaning capabilities, these materials are widely used in water treatment chemicals. The depletion of water resources and the growing demand for safe drinking water are leading to increased investments in water treatment facilities.
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Alkylamines corrode the eyes, skin, and lungs when exposed. Furthermore, its hazardous nature necessitates hefty maintenance and shipping expenses. Its negative effects and high cost operate as a stumbling block to the market's expansion. Furthermore, raw material and foreign currency price fluctuations can have a direct influence on the market of alkyl amines. The key raw materials utilized in the manufacturing of alkyl amines are ethanol, ammonia, and industrial gases.
In the future years, the alkylamines industry in North America is expected to rise at a significant pace. The company's regional expansion is due to the rising demand for solvents in a variety of industries. Solvents are in high demand across a wide range of industries, including pharmaceuticals, paints and coatings, rubber and plastics, as well as medicines, engineering, and construction. The need for paints and coatings will rise as the automotive sector in North America expands, as well as in residential restoration and refurbishment projects.
Due to the implementation of teleworking methods during COVID-19, consumer inquiries for home renovations appeared to be at an all-time peak in 2022. The increased infrastructure spending in countries like Brazil, Saudi Arabia, Mexico, and Russia is expected to complement regional market growth. Product development and expanding wide application in pharmaceuticals characterize the alkyl amines market in North America.
U.S. Alkyl Amines Market Analysis
The United States is expected to account for the highest market of US$ 4.3 Billion by the end of 2032. The market in the country is expected to garner an absolute dollar opportunity of US$ 1.9 Billion during 2022 – 2032, at a CAGR of 6%. Precision farming, integrated pest management, and off-patent products are shaping the agrochemicals industry in the U.S. The surge in demand for agrochemicals in the country has led to the growth in demand for alkyl amines.
U.K. Alkyl Amines Market Analysis
According to Fera Science Ltd., in 2020, fungicides were used in over 26 Million hectares, growth regulators in over 4 Million hectares, herbicides in over 19 Mn hectares, insecticides in over 2 Million hectares, molluscicides in over 960 thousand hectares of land of arable crops in the U.K. These statistics also represent the usage of agrochemicals in the country. The market for alkyl amines in the U.K. is projected to reach a valuation of US$ 500 Million by 2032. The market in the country is projected to grow with an absolute dollar opportunity of US$ 200 Million during 2022 – 2032, at a CAGR of 5.2%.
Japan Alkyl Amines Market Analysis
The pharmaceutical industry in Japan accounts for approximately 7% of global pharmaceutical production. The increased use of biosimilars in the country is further projected to propel the growth of alkyl amines. Japan uses significant volumes of alkyl amines in the pharmaceutical sector. The market for alkyl amines in Japan is expected to reach a valuation of around US$ 700 Million by 2032, growing at a CAGR of 5.3% during 2022 -2032.
South Korea Alkyl Amines Market Analysis
The alkyl amines market in South Korea is likely to reach 400 Million by 2032, with an absolute dollar opportunity of approximately US$ 100 Million during 2022 – 2032. The market during this period is projected to grow at a CAGR of 4.8%.
The market for methylamines is expected to account for a CAGR of 5% during 2022 - 2032. Methylamines are compounds that are used in a wide range of applications, such as agricultural chemicals, paints, water treatment chemicals, medicines, and corrosion inhibitors, among others. Under typical circumstances, it quickly ignites. Containers may break suddenly and rocket if exposed to extreme heat for an extended period of time. Insecticides, paint removers, surfactants, and rubber compounds are all made using methylamines.
Methylamines' growth is encouraged by increased demand from numerous end-use industries such as pharmaceuticals, petroleum, and plastics. Propylamines are also used as a plastics regulators and additives in the petroleum sector. It also serves as an intermediary in the production of medicines, coating materials, and rubber products. As a result, increasing investment in the pharmaceutical sector and expanding petroleum sector in emerging economies such as China and India are fueling demand for propylamines, which is driving the market expansion.
In 2021, alkyl amine application as a solvent is projected to garner a CAGR of 4.7% during the forecast period. The market is expected to develop due to the increasing usage of alkylamines-based solvents in the synthesis of C1-C6 alkyl amines. Alkylamines are widely employed in a variety of applications, including rubber manufacturing, water purification, and food supplements. Furthermore, the rising use of C1-C6 alkyl amines as pesticides in the agricultural sector is propelling market expansion. Increased prevalence of solvents manufacturing of spandex, polyimide films and polyurethane elastomers, on the other hand, are contributing to market expansion.
Due to the prolonged stoppage of manufacturing and production operations, the sector has also seen a drop in demand. However, the manufacturers, on the other hand, have benefited from the pharmaceutical industry's increased efforts to supply worldwide vaccination demand.
Pfizer, for example, announced intentions to increase COVID-19 vaccine manufacturing in April 2021, with over 300 million vaccines expected to be delivered in the United States by July. As a result, the pharmaceutical industry has seen an increase in the need for solvents. Government and regulatory initiatives to vaccinate the alkylamines sector will have a beneficial impact on the industry's growth between 2021 and 2027.
The alkyl amines industry is diversified and competitive due to a large number of industry participants. As a result, pricing wars, mergers and, acquisitions, and other strategic decisions are common. For new entrants, there exist significant entry barriers. Low switching costs give purchasers more options and boost competitiveness among business operators. Key industry participants invest in bettering their products in order to acquire a competitive advantage over their peers.
Some of the key companies in the alkyl amines market include E.I. Du Pont DE Nemours, BASF SE, Akzo Nobel Chemicals AB, Arkema Group, Shandong Huala Hengsheng Chemical Co., Feicheng Acid Chemicals Co., Ltd., Air Products and Chemicals Inc., Huntsman International LLC, Dow Amines, Mitsubishi Gas Chemical Company, LCY Chemical Corp., Luxi Chemical Co., Ltd., Koei Chemical Company Limited, Taminco, Eastman Chemical Co., Daicel Chemical Industries Ltd., BorsodChem MCHZ and Alkyl Amines Chemicals Ltd.
Some of recent developments in the Alkyl Amines Market are:
The alkylethanolamines are mostly utilized as flocculant precursors in water treatment and as adhesives between pigment and resins in the coatings industry. Other uses include gas remediation, fabric softeners, metalworking fluid additives, and polyurethanes.
These specialty amines are utilized in the production of daily things such as foam for automotive seats, beds, and building insulation spray foam. Huntsman's current generation revolutionary product range aids industry efforts to reduce consumer product emissions and smells while also contributing to global environmental goals.
Similarly, more recent developments related to companies in Alkyl Amines Market services have been tracked by the team at Fact.MR, which are available in the full report.
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The value of the Alkyl Amines Market is projected to increase at a CAGR of around 5.3% during 2022 – 2032.
A key trend shaping the growth of Alkyl Amines is the increased usage of solvents in the infrastructure and automotive sectors.
The market for Alkyl Amines Market in the U.S. is projected to expand at a CAGR of around 6% during 2022 – 2032.
The Global Alkyl Amines Market is worth more than US$ 6.2 Billion at present.
The value of Alkyl Amines Market increased at a CAGR of around 6.1% during 2017 – 2021.
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