Alkyl Amines Market

Increasing demand for alkylamines in paint and coating industries, growing developments in pharmaceutical applications

VANCOUVER, BRITISH COLUMBIA, CANADA, June 3, 2024 /EINPresswire.com/ -- The global alkyl amines market size was USD 6.12 Billion in 2022 and is expected to register a revenue CAGR of 6.3% during the forecast period. The global alkyl amines market is poised for significant growth, driven by rising demands across various industries including paints and coatings, pharmaceuticals, and wastewater treatment. With their versatile applications and low toxicity, alkyl amines are becoming essential materials in several high-tech and specialized industries.

Key Drivers of Alkyl amines Market Growth

Surge in Paints and Coatings Demand

The paints and coatings industry is witnessing unprecedented growth, driving the demand for alkyl amines. By 2030, the market for paints and coatings is expected to rise from USD 165 billion to approximately USD 243 billion. Alkyl amines, known for their versatility and safety, are crucial in the production of coating components, contributing to this market expansion.

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Rising Pharmaceutical Developments

Pharmaceutical applications are also boosting the alkyl amines market. Leading companies like BASF are expanding their production capacities to meet this growing demand. For instance, BASF's new production facility in Antwerp, Belgium, scheduled to start in 2024, will significantly increase their alkyle thanolamines capacity by nearly 30%, reaching over 140,000 tons annually. This expansion highlights the vital role alkyl amines play in pharmaceutical manufacturing.

Increasing Demand in Water Treatment

The need for effective water treatment solutions is another factor driving the alkyl amines market. As global awareness about water conservation and treatment grows, the demand for alkyl amines in this sector is expected to rise, further propelling market growth.

Market Restraints

Despite the promising outlook, the alkyl amines market faces challenges. Strict government regulations due to the potential toxicities of alkyl amines pose significant obstacles. These regulations, aimed at mitigating irritability and central nervous system impacts, could hamper market growth. Additionally, the high costs associated with stringent quality control procedures make alkyl amines less competitive compared to cost-effective alternatives.
Segment Insights

Dominance of Methylamines

In 2022, the methylamines segment held the largest revenue share in the global alkyl amines market. Methylamines are crucial in producing solvents, pharmaceuticals, and catalysts. Their basic nature and ability to coordinate with metal ions enhance their performance, driving their demand in the pharmaceutical sector. The rising need for pharmaceuticals and solvents continues to support the growth of this segment.

Manufacturing Process: Reductive Amination Leads

The reductive amination process accounted for the largest revenue share in the alkyl amines market in 2022. This process is favored for its efficiency in converting nitro compounds into amines, offering high production yields and cost savings. Its ability to produce high-purity amines makes it attractive for industries requiring versatile alkyl amines, such as surfactants, lubricants, and additives.

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Application Insights: Rubber Industry at the Forefront

In 2022, the rubber industry segment dominated the alkyl amines market. Alkyl amines are essential in the production of synthetic rubbers due to their high quality and versatility. They provide physical properties that enhance the performance and longevity of rubber products. The rubber industry’s stringent purity requirements are well met by alkyl amines, making them the preferred material for rubber production, especially in the automotive, construction, and consumer goods sectors.

Alkyl Amines Top Companies and Competitive Landscape

The global alkyl amines market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective alkyl amines.

Some of the major companies included in the global alkyl amines market report are:

• BASF SE
• Akzo Nobel N.V.
• KLK OLEO.
• Evonik Industries AG
• DuPont
• Temix Oleo Srl
• Eastman Chemical Company
• Alkyl Amines Chemicals Limited
• Indo Amines Ltd
• NOF CORPORATION
• Hexion
• Arkema
• LUXI GROUP
• Balaji Amines
• Kao Corporation
• Albemarle Corporation
• Huntsman International LLC
• Solvay
• Daicel Corporation
• Volant-Chem Corp.
• Dow

Alkyl Amines Latest Industry Updates

• On 12 December 2023, BASF finalized a capacity increase for crucial specialty amines manufactured at its Geismar, Louisiana facility. This enhancement enables BASF to manufacture a significant portion of the prominent polyetheramine and amine catalysts available under the Baxxodur and Lupragen labels. The successful execution of this project underscores BASF's dedication to expanding its presence in the US market, as emphasized by the Vice President of Business Management for Amine, Acetylene, and Carbonyl Derivatives in Chemical Intermediates North America at BASF.

• On 03 February 2021, Alkyl Amine Chemicals Ltd. approved an investment to expand the production capacity of aliphatic amines at its Kurukumbu and Patalganga locations in Maharashtra. The current production capacity is 80,000-90,000 tons of various aliphatic amines per year, and the utilization rate of the existing production capacity is currently 80-90%. Due to the increasing demand for the products, they have approximately 30-40% additional production capacity for aliphatic amines, depending on the blend. The company has established a leading position in the domestic market has a presence in the international market and is known for its reliable service and high-quality products.

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Alkyl Amines Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global Alkyl amines market on the basis of type, manufacturing process, application, and region:

• Type Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Methylamines
o Ethylamines
o Butylamines and IsoButylamines
o Propylamines and Isopropylamines
o Amylamines
o Cyclohexylamines
o Others
• Manufacturing Process Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Alcohol-Amine Reaction
o Aldehyde-Amine and Ketamine Hydrogenation Reaction
o Nitrile Reduction
o Ritter Reaction
o Reductive Amination
o Hydrogenation of Anilines
o Reaction of alkyl halides with amines
o Others
• Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Rubber Industry
o Agrochemical Industry
o Water Treatment Industry
o Pharmaceuticals Industry
o Paper Industry
o Others
• Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019–2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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