Amines - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Amines Market size is estimated at USD 15.42 billion in 2024, and is expected to reach USD 19.45 billion by 2029, growing at a CAGR of 4.75% during the forecast period (2024-2029).

Major factor driving the market studied is the accelerating demand for pesticides from developing countries.

Key Highlights

• Increasing usage of bio-based products for agriculture in developed countries is expected to hinder the growth of the market studied.
• Increasing usage of genetically modified herbicide-tolerant seeds is likely to act as an opportunity in the future.

Amines Market Trends

Increasing Demand form Pharmaceutical Industry

• Amines are majorly used in the pharmaceutical industry. It contains a ring-like structure known as aryl group which is majorly seen in pharmaceuticals such asantipsychotic aripiprazolecholesterol-lowering rosuvastatin, local anesthetic lidocaine, anticancer drug imatinib and are also used as solvents and catalysts in various drug manufacturing.
• According to IQVIA Institute for Human Data Science, the global pharmaceutical market reached a value of USD 1.2 trillion in 2018. The market is expected to register at a CAGR of 4-5% during the forecast period. North America is partly responsible for the largest portions of the revenue, due to the leading role of the United States pharmaceutical sector.
• Asia-Pacific and North America are the dominant regions in the amines market. In Asia-Pacific, China occupies the largest share, followed by India, while regarding the growth rate, India is expected to witness the fastest growth.
• The amines market is growing in the pharmaceutical industry, due to increasing awareness regarding health issues, etc.
• All the aformentoned factors are likely to increase the demand for amines over the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific has become the largest consumer, as well as one of the largest producer of amines. The production has reached such high levels that it has become a major hub for exporting of cosmetics and personal care products to developed nations, such as the United States, United Nations and Spain.
• The tier-2 markets, such as South Korea, are expected to witness a rapid rise in the demand for personal care products. Moreover, China, and India are also likely to experience good opportunities for the personal care market.
• Increasing awareness about the advantages of multi-functional personal care products is expected to boost the demand for amines during the forecast period.
• Overall, the market share of Asia-Pacific in the personal care industry (including cosmetic products, and others) is growing significantly and is likely to follow the same trend during the forecast period, driving the overall market for amines in the region.

Amines Industry Overview

The amines market is highly consolidated in nature. Some of the key players in the market studied include BASF SE, Arkema Group, Akzo Nobel N.V., Solvay, and INEOS, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support