ALBANY, New York, October 16, 2014 /PRNewswire/ --
Amines Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2013 - 2019, the report by Transparency Market Research analyzes and estimates the performance of various market elements in the global amines market in a global scenario. The report states that the global amines market, which was worth nearly USD 10.57 billion in 2012, could observe growth at a CAGR of 3.5% between 2013 and 2019, the forecast period of the report, and reach a market value worth USD 13.45 billion in 2019.
Volume-wise, this market could observe growth at a CAGR of 3.1% during the forecast period and observe demands worth 4,501.3 kilo tons by 2019. The global demand of Amines was nearly 3,635.3 kilo tons in 2012. The use of amines in the fields of agriculture, surfactants, paints and coating and construction industry, among many others, are some of the most important factors driving the global amines industry. The recent development in the crop protection chemicals' industry, especially, is considered a vital factor driving this industry.
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The global market of paints and coatings is also observing significant growth owing to the global rise in construction activities. The growth of this industry could indirectly have a positive effect on the growth of the global amines industry as well, because the segment of paints and coats represents a vital end-user segment for the amines industry.
However, the report mentions that the unpredictable prices of raw materials and environmental regulations about the harmful effects of overuse of amines could restrain market growth to some extent in the coming times. Demands are also expected to rise from the industry of water treatment and personal care during the forecast period, adds the report.
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Product-wise, ethanolamine accounted for nearly 50% of the total demands in this industry in the year 2102. Owing to their versatile nature and their vast applications in many industries, the demand for ethanolamine is expected to rise substantially over the forecast period. However, the market segment of fatty amines is expected to observe the fastest growth over the next few years owing to their rising applications in the personal care industry.
Application-wise, the market segment of crop protection chemicals led the application segment for the global amine market in 2012. Demand for amines is on a constant rise in crop protection chemicals owing to their effectiveness against pests, insects and fungi. The report states that the demand for amines could increase substantially in the surfactants' segment during the forecast period due to their ability to increase the foaming ability in surfactants. Demand for Amines is expected to reach market value worth 1,236.9 kilo tons by 2019, adds the report.
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Geographically, the region of North America led the global amines market in 2012, followed by Asia Pacific. This could be credited to the growth of surfactant industry in these regions. The report also adds that the region of Asia Pacific could witness the highest rate of growth during the forecast period due to the increase in use of crop protection chemicals in this region. The amines industry in Asia Pacific is expected to observe growth at a CAGR of 3.5% between 2013 and 2019.
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