Amines Market - By Type (Ethanolamine, Monoethanolamine, Diethanolamine, Triethanolamine, Methyl Diethanolamine (MDEA), By Application, By Function & Forecast, 2024 – 2032

Amines Market Size

Amines Market size crossed USD 21.4 billion in 2023 and will grow at 7.9% CAGR between 2024 and 2032, fueled by burgeoning industrial growth and rapid urbanization worldwide. As industries expand, the demand for amines rises, given their integral role in various manufacturing processes across sectors. Moreover, urbanization drives the need for infrastructure development, construction materials, and consumer goods, all of which utilize amines, thus contributing to the market's expansion and sustained growth trajectory.
 

For instance, in October 2023, Alkyl Amines commenced commercial operations at its newly established plant in Maharashtra, India, marking a significant milestone.

The surging demand for water treatment solutions worldwide, coupled with ongoing advancements in technology, is fueling the expansion of the amines industry. Amines play a critical role in water treatment processes, aiding the removal of contaminants and ensuring safe drinking water supplies. Also, technological innovations are enhancing the efficiency and versatility of amines, driving their adoption in a wide range of water treatment applications, and stimulating market development.
 

For instance, in September 2022, Global Amines Co. (Singapore) started a new fatty amine plant in Surabaya, Indonesia, enhancing supply to Southeast Asia and global customers and complementing existing facilities in China, Europe, and the Americas.
 

Though the market is showing promising growth, stringent environmental regulations and economic uncertainty present challenges to market expansion. However, these drive innovation and resilience in the amines industry. Companies are prompted to develop eco-friendly processes and diversify their portfolios to mitigate risks. These challenges foster a proactive approach, encouraging sustainable practices and strategic planning. By navigating these barriers effectively, businesses can enhance their competitive edge and contribute to a more sustainable and adaptable chemical industry landscape.
 

Amines Market Trends

The expanding applications in pharmaceuticals and rising demand in agrochemicals are propelling the amines industry forward. In pharmaceuticals, amines play a crucial role in the synthesis of various drugs and active pharmaceutical ingredients (APIs), contributing to the industry's growth. Additionally, the escalating demand for agrochemicals necessitates the use of amines in pesticide, herbicide, and fertilizer formulations, further boosting market demand and stimulating innovation in amine production.
 

For instance, in January 2024, Balaji Amines Limited reported the approval from the Industries, Energy, and Labour Department, Government of Maharashtra, designating the expansion project of Balaji Speciality Chemicals Limited, a subsidiary of Balaji Amines Limited, as a mega project.
 

Amines Market Analysis

The amino methyl propanol (AMP) segment will exceed USD 1.7 billion by 2032, primarily due to its diverse applications across multiple industries. AMP serves as a crucial intermediate in the production of various products, including personal care items, pharmaceuticals, and agrochemicals. Its favorable attributes, such as low volatility, high stability, and compatibility with other compounds, position it as a preferred choice, driving its dominance in the amines industry.
 

The water treatment segment will accumulate a 7.7% CAGR during 2024- 2032, attributed to the escalating concerns regarding water quality and stringent environmental regulations. Amines play a pivotal role in various water treatment processes, facilitating the removal of contaminants and ensuring safe drinking water supplies. With increasing urbanization and industrialization globally, the demand for amines in water treatment applications will surge, consolidating the segment's leading position in the market.
 

Asia Pacific amines market will record an 8.4% CAGR from 2021 to 2032, owing to robust industrial development, expanding population, and rising urbanization. The region's thriving manufacturing sector, particularly in chemicals, pharmaceuticals, and agriculture, fuels the demand for amines. Moreover, supportive government initiatives and increasing investments in infrastructure further bolster market expansion. With its substantial contributions to global consumption, Asia Pacific will emerge as a key contributor to the amines industry's growth trajectory.
 

Amines Market Share

These companies are expanding their footprint in the amines industry through strategic alliances, acquisitions, and investments in research and development. By forming partnerships with regional distributors or investing in production facilities, they gain access to new markets and strengthen their distribution networks. Besides, acquisitions of smaller competitors or companies with complementary technologies enhance their product portfolios and market share, enabling them to offer comprehensive solutions to their customers.
 

Furthermore, these companies are channeling significant investments into R&D endeavors, facilitating the innovation and introduction of novel amines boasting enhanced properties and versatile applications. This proactive approach enables them to effectively address the ever-evolving demand and trends within the market. Through continual refinement of their product portfolios and augmentation of their operational capacities, they fortify their standing as prominent contenders in the competitive amines industry, ensuring enduring market prominence and sustained growth.
 

Amines Market Companies

Major players operating in the amines industry include:

• Alkyl Amines & Chemicals Ltd. (AACL)
• Amines & Plasticizers Ltd. (APL)
• Arkema
• Balaji Amines
• BASF SE
• Daicel Corporation
• Dow Inc.
• Eastman Chemical Company
• Evonik Industries AG
• Global Amines Company
• Hexion Inc.
• Huntsman Corporation
• Indo Amines Limited (IAL)
• Kao Corporation
• Koei Chemical Co., Ltd.
• Lanxess
• Luxi Chemical Co., Ltd.,
• Mitsubishi Gas Chemical Company
• NOF Corporation
• Solvay
• Sterling Auxiliaries Pvt Ltd.
• Tosoh Corporation
• Volant-Chem Corp
   

Amines Industry News

• In March 2024, DCM Nouvelle Ltd.'s subsidiary, DCM Nouvelle Specialty Chemicals Limited (DCMSCL), successfully commissioned a chemical plant in Madhya Pradesh, India.
   
• In December 2023, BASF successfully concluded its expansion of production capacity for essential specialty amines across the Americas region.
   

The Amines market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Type

• Ethanolamine
• Alkylamine
• Ethylene amine
• Fatty amine
• Specialty Amine
• Amino Methyl Propanol (AMP)

Market, By Application

• Water Treatment
• Cleaning
• Agriculture
• Personal Care
• Paint & Coatings
• Pharmaceuticals
• Petroleum
• Gas Treatment
• Others

Market, By Function

• Solvent
• Chelating Agent
• Corrosion Inhibitors
• Bleach Activators
• Surfactants
• Others
• Cleaning
• Agriculture

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA