Alkyl Amines Market Demand and Size is Expected to Reach USD 9,453.2 Million in 2028 | Reports and Data
Reports And Data
Alkyl Amines Market Size - USD 5,953.6 Mn in 2020, Growth at a CAGR of 5.9%, Trends - Rapid growth of the chemical industry, particularly in Asia Pacific
NEW YORK CITY, NEW YORK, UNITED STATES, June 17, 2022 /EINPresswire.com/ -- Global alkyl amines market size is expected to reach USD 9,453.2 Million in 2028 and register a revenue CAGR of 5.9% over the forecast period, according to the latest report by Reports and Data. Alkyl amines market revenue growth is expected to be driven by rising awareness regarding benefits of using alkyl amines in production of medicines at cost-effective rates, better quality fertilizers, paints, dyes, papers, and rubber chemicals. This chemical is also used in various laboratories for research purposes for developing new compounds, which can further enhance quality of certain products.
Alkyl amine is an organic compound known for having carbon, hydrogen and nitrogen atoms in its structure. Several intermediate solvents and surfactants are made using this compound. Rapidly growing end-use industries such as agrochemicals, pharmaceuticals, water treatment, cosmetics, and paper, and increasing consumption of alkyl amines in these industries are factors boosting market revenue growth.
A recent studies conducted in the US, stated that Methylamines offer insulin-like properties, and scientists have confirmed that it can be used as a strong anti-diabetic drug than mafenide. However, stringent government regulations on product approvals and launch, and high maintenance charges on transporting such compounds are factors that could hamper market revenue growth.
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Further key findings from the report suggest
By type, amyl amines segmented accounted for largest revenue share in 2020. Amyl amines are used as a corrosion inhibitor, solvent, floating agent, and in the production of other chemicals. Amyl amines are known for production of wide range of products such as dyes, drugs, agrochemical substances, chemicals in paints and rubbers, as well as in treatment of waste-water plants. This chemical plays a crucial role in treatment of water, and this coupled with, depleting ground water, and rising need for treating waste water to be supplied for use in residential and commercial sectors are factors driving revenue growth of the segment.
By application, the rubber industry segment accounted for largest revenue share in 2020. Various chemicals are manufactured using alkyl amines, which are used in the rubber industry. For instance, as raw material in products such as tetramethyl thiuram disulphide, which is used as a stabilizing agent. Similarly, zinc dimethyl dithio carbamate is made with this chemical and is used as a preservative agent, and vulcanization accelerator.
Asia Pacific alkyl amines market accounted for largest revenue share in 2020 due to significantly rising demand for FMCG products such as cosmetics in developing countries, and increasing consumption of alkyl amines for production of cosmetics. Additionally, increasing modernization of agriculture has increased demand for pesticides and agro-based chemicals, and this is expected to support revenue growth of the market in this region.
Companies profiled in the global market report include BASF SE, AkzoNobel Chemicals, Mitsubishi Gas Chemical Company, Alkyl Amines Chemicals Ltd., Shandong Hualu Hengsheng Chemical, Koei Chemical Company Limited, Luxi Chemical Group Co. Ltd, Feicheng Acid Chemicals, Taminco, Balaji Amines, Eastman Chemical Company, DuPont.
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Covid Impact Analysis : Covid-19 had adversely affected global alkyl amines market revenue growth. From last 2 years, factories were shut and workers were not allowed in manufacturing units due to lockdown and strict social distancing regulations. Post lockdown, due to systematic opening of industries, raw material required for every industry to meet the demands of various products was limited. People started accumulating items in bulk by anticipating further lockdowns. This trend resulted in demand supply disruptions. However, currently as restrictions have eased, and the market is expected to register steady growth in coming years.
Key Analysis: Rising demand for packaged food products and raw food items is making farmers focus on reducing the amount of time required for crop cultivation by using excessive fertilizers and pesticides. Governments of various countries across the globe are also focusing on modernization of agriculture by providing subsidies, infrastructure, and access to international markets. Hence, to increase production, large quantities of fertilizers, pesticides are used in crops for cultivation. Companies adhering to such production of chemicals require alkyl amines derivatives. Pesticides such as Fenvalerate, Butachlor, Dichlorvos (DDVP), Cypermethrin, Monocrotophos, Fonaphos, Phosphamidon and Alphamethrin are also being made using alkyl amines. Demand for agricultural products is expected to increase due to increasing global population, which is expected to drive market revenue growth.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, ingredient type, application and regional analysis.
Type Outlook (Revenue, USD Million, Volume, Kilo tons; 2018–2028)
Methylamines
Ethylamines, Butylamines & Isobutylamines
Propylamines & Isopropylamines
Amylamines
Cyclohexylamines
Others
Manufacturing Process Outlook (Revenue, USD Million, Volume, Kilo tons; 2018–2028)
Alcohol-amine reaction
Aldehyde-amine and ketamine hydrogenation reaction
Nitrile reduction
Ritter reaction
Reductive amination
Hydrogenation of anilines
Reaction of alkyl halides and amines
Others
Application Outlook (Revenue, USD Million, Volume, Kilo tons; 2018–2028)
Rubber Industry
Agrochemical Industry
Water treatment Industry
Pharmaceuticals Industry
Paper Industry
Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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