“North America amines market is anticipated to grow at a lucrative CAGR from 2020 to 2030”, says Visiongain
29 November 2019
Visiongain’s new report North America Amines Market Report 2020-2030: Forecasts by Types (Alkylamines, Ethyleneamine, Ethanol Amines, Fatty Amines, Specialty Amines), Applications (Agricultural Chemicals, Cleaning Products, Gas Treatment, Personal care Products, Petroleum, Water Treatment, Others), by region and analysis of leading companies operating in this industry.
North America amines market was valued at over 1,000 KTons in 2018 and is anticipated to grow at a lucrative CAGR over the forecast period from 2020 to 2030. It is projected that rapidly increasing understanding of health and health security, increasing population, need for higher crop yields and reduced arable land would drive market demand over the forecast period.
The growing demand for surfactants with heavy-duty laundry fluids is anticipated in the coming years to boost consumer production. Mexico's personal care industry's positive outlook, combined with rising demand for cosmetics in China and India's emerging markets, is anticipated to fuel market growth by 2025.
Increasing demand for personal care products, growth in the construction sector, increasing middle-class sectors, growth in the agricultural industry, high growth in end-user industries, increased demand for surfactants, increased demand for plant protection chemicals, and major developments in emerging economies are key parameters fostering market growth. However, the availability of specialized raw materials, raw material price volatility, and environmental regulations hamper market growth. Specific amine market opportunities include emerging economies, new market amine rates, and imminent applications.
In 2018, the U.S. was the leading segment, and its dominance is anticipated to continue over the forecast period from 2020 to 2030. Being a pioneer in the sector and with high levels of disposable income, the segment is likely to drive overall industry growth in the coming years. Moreover, rising demand from the country's various application industries is expected to drive demand for the product.
Fueling amine demand over the forecast period is expected to increase demand for personal care products, detergents, cleaning products, and plant protection chemicals among others. For amine manufacturers in North America, the export market is highly important as industry participants plan to expand globally due to the relative maturity of the domestic economy.
Rising spending on R&D projects, federal government incentives, and rising consumer awareness are main factors that increase demand for bio-based amines. Growing demand for bio-based amine is projected to have a positive impact on North America's industry. However, in the coming years it will have a negative impact on the synthetic amine market. It is expected that increased demand for high-quality and efficient product formulations will contribute over the forecast period to the growth of the industry.
Some of the key market name market players include Arkema S.A., Akzo Nobel NV, Alkyl Amines, BASF SE, Brenntag North America Inc., Celanese Corporation, Chemutra Corporation, DuPont, Eastman Chemical Company, Huntsman Corporation, INEOS, Lanxess Corporation, LyondellBasell NV, Mitsubishi Gas Chemical Co., Quadra Chemicals Ltd., SABIC, Sinopec, Solvay S.A, Taminco Corporation, The Dow Chemical Co among other prominent players.
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