The growing awareness about health, hygiene and sanitization has boosted the demand for cleaning products that use amine compounds. They efficiently remove dirt, stains and odors from surfaces.
The global Amines Market is estimated to be valued at US$ 18 Mn in 2024 and is expected to exhibit a CAGR of 3.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of amines in cleaning products is a major trend driving the amines market growth. With rising health and hygiene consciousness among consumers, the demand for effective and environment-friendly cleaning agents has increased. Amines are widely used as surfactants and emulsifying agents in household and industrial cleaners. Their efficient cleaning ability without harmful effects has further extended their applications. Manufacturers are developing green cleaning formulations using plant-derived and biodegradable amines to meet the growing demand for sustainable products. This growing preference for eco-friendly cleaning products is expected to boost the consumption of amines over the forecast period.
Segment Analysis
The Global Amines Market Analysis is dominated by alkylene amines segment which accounts for more than 35% of the overall market share. Alkylene amines find wide application in resins, plasticizers, pharmaceuticals, rubber, and water treatment. Within alkylene amines, ethyleneamine holds the largest market share owing to increasing demand from water treatment chemicals industry. Ethyleneamines are effective sequestrants, often replacing phosphate-based compounds in detergents, cleaners, and other household and industrial products.
Key Takeaways
The global amines market is expected to witness high growth over the forecast period of 2024 to 2031. The global Amines Market is estimated to be valued at US$ 18 Mn in 2024 and is expected to exhibit a CAGR of 3.2% over the forecast period 2024-2031.
The rapid industrialization in Asia Pacific and Middle East and Africa is contributing significantly to the increasing demand of amines from various end use industries such as agriculture, personal care, pharmaceuticals etc. Asia Pacific accounts for more than 35% share of the global amines market and is expected to grow at the fastest pace till 2031. China, India, Indonesia and other south east Asian countries are major contributors to the amines demand in the region attributed to presence of huge manufacturing base coupled with rising construction activities.
Key players operating in the amines market are SGS Group, Bureau Veritas SA, TUV Rheinland Group, Intertek Group PLC, ALS Limited, DNV GL, MISTRAS, Lloyd's Register Group Limited, Underwriters Laboratories Inc., ABS Group, and ASTM International. These players are focused on expansion of their global footprint by either establishing new laboratories or strengthening their technical capabilities in high potential regions including Asia Pacific and Middle East Africa. For instance, in 2023, SGS Group inaugurated new chemical laboratory in Jakarta, Indonesia to cater to fast growing demand from local industries.
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