Increasing crop protection, coatings & paints, personal care, water treatment and surfactants applications are anticipated to fuel the global amines market growth over the next five years. Agriculture growth along with high yield requirement in emerging countries such as India, China, Indonesia, Malaysia and Brazil owing to growing consumption is projected to bolster the amines market over the forecast period. Increasing infrastructure development activities in BRICS and North America is anticipated to drive surfactant demand. This trend is further expected to complement the amines market growth over the next five years. Growing surfactant demand as laundry liquids is projected to have positive impact on global amines market over the foreseeable future. Surging personal care and cosmetic products demand in emerging economies such as India, China and Indonesia is anticipated to boost the amines market growth over the forecast period.
Increasing amines applications in automobile industry as coatings & paints is expected to fuel the global amines market over the next five years. EPA and European Commission have enforced strict regulations on industrial, agriculture and consumer amines applications which are projected to hinder the amines market over the foreseeable future. Volatile petrochemicals prices have had negative impact on global amines market in last two years. This led customers to shift towards bio-based products majorly in cleaning application. In 2013, Croda Polymers & Coatings developed new technology known as ‘Novel Amine-Functional Dimer’ to manufacture bio-based amines building block for application in adhesives and coatings. Such developments are anticipated to boost amines market over the next five years period.
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Ethanolamine dominated the amine product segment in 2013 accounted for over 49% of the total market. Ethanolamine is mainly used as cleaning agent in monoetanolamine and triethanolamine forms. It has another application as machining fluids, cooling systems and lubricants to inhibit corrosion for automotive, marine and industrial applications. Rising preventive maintenance and health awareness is expected to drive the ethanolamine market growth over the foreseeable future. Fatty amines are anticipated to be the fastest growing product segment in the near future owing to increasing personal care application. Alkylamines holds minimum share in the global amines market due to fewer applications.
Amines are majorly used for crop protection in agriculture industry. Agriculture was the largest application segment market in 2013. Growing agriculture production and demand for improved yield is expected to bolster the amines market growth over the next five years. Bio-based crop protective chemicals development and their increasing application in agriculture industry is projected to hamper the global amines market. Growing surfactant demand in detergent industries in emerging economies such as India, Indonesia and China is anticipated to have a positive impact on amines application segment market growth. Increasing personal care products demand particularly by women is projected to drive the market growth over the forecast period. Stringent water pollution regulations are anticipated to affect amines market growth negatively in water treatment segment.
Asia Pacific dominated the global amines market owing to increasing surfactants, crop protection and personal care applications in 2013. Increasing agriculture production especially in India and China is expected to fuel amines market over the forecast period. Growing construction and automotive industries in emerging nations such as Malaysia, China, India and Indonesia are anticipated to foster regional amines market over the foreseeable future. REACH norms regarding amines environmental impacts in Europe are expected to have negative impact on amines market growth over the forecast period. Urbanization along with industrialization in emerging countries is anticipated to boost the amines market growth over the forecast period.
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Presence of various participants globally has fragmented the global amines market. The major players include AkzoNobel, BASF, Dow Chemicals, Arkema SA, Huntsman Corporation and Clariant. Indian government announced PCPIR policy to promote chemicals and petrochemicals production which is projected to have positive impact on regional amines market growth over the forecast period.
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