November 11, 2020
According to the research report titled ‘Global Aliphatic Amines Market A? Analysis By Industry , By End-Use, By Region, By Country : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’ available with Market Study Report, global aliphatic amines market accounted for USD 5689.66 million in 2019 and is anticipated to record significant growth during 2020-2025.
Industry experts claim that escalating product demand across several end-use industry verticals such as home care, personal care, paint and coatings, agrochemicals, and pharmaceuticals is a key factors augmenting the growth of global aliphatic amines market.
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For the uninitiated, aliphatic amines are organic compounds that comprise of a nitrogen atom along with a lone pair of electrons. They do not have an aromatic ring directly attached to the nitrogen atom unlike other amines.
Based on industry type, global aliphatic amines market size from the pharmaceuticals segment is expected to expand considerably over the forecast period. Factors such as rising prevalence of gastrointestinal disorders and diabetes, growing health concerns, and increasing adoption of aliphatic amines in the manufacturing of anti-diabetic drugs are propelling the growth of the segment.
With regards to end-use terrain, the solvents segment is predicted to emerge as a lucrative opportunity for the global aliphatic amines industry growth through 2025. Flourishing automotive, construction, and machinery sectors and rising adoption of solvent-based aliphatic amines in the production of paints and coatings are bolstering the expansion of the segment.
From a regional point of view, Asia-Pacific dominates the business sphere in terms of market share and is estimated to witness substantial expansion over 2020-2025. Rapid urbanization, growing population, surging product demand from the agriculture sector, and increasing adoption of the amines across various end-use sectors in South Korea, India, Japan, and China are fostering the growth of the regional market.
Leading companies that define the global aliphatic amines industry trends are Evonik Industries AG, Solvay SA, Clariant AG, Arkema S.A., The Dow Chemical Company, Alkyl Amines Chemicals Limited, Akzo Nobel N.V., Huntsman Corporation, Hexion Inc., and BASF SE.