Global sales of amine stood at USD 36,576.4 million in 2023. The industry is further projected to exhibit a y-o-y growth of 7.9% in 2024 and reach USD 39,469.6 million in the same year. Surging at a CAGR of 9.7% between 2024 and 2034, demand for the compound is estimated to reach USD 99,445.7 million by 2034.
Among various types of amines, aliphatic products are set to be extensively used across several industries, including agriculture, water treatment, and pharmaceuticals. As of 2024, these products hold a prominent share of about 33% in terms of volume.
Aliphatic products are projected to command a significant share in terms of consumption owing to versatile chemical properties, high compatibility, and chemical stability. Demand for aliphatic products is anticipated to rise and the compound is projected to witness a promising CAGR of 10.5% over the assessment period.
| Attributes | Description |
|---|---|
| Estimated Global Amine Market Size (2024E) | USD 39,469.6 million |
| Projected Global Amine Market Value (2034F) | USD 99,445.7 million |
| Value-based CAGR (2024 to 2034) | 9.7% |
By 2034, demand for amines is expected to increase by 2.5 times from the current value. Consumption of the compound is predicted to rise worldwide in tandem with industrial expansion. These are anticipated to become more widely used as functional agents, ingredients, additives, or intermediates in a variety of industrial sectors.
As of 2024, the pharmaceutical and agrochemical industries are expected to generate more than 40% of the total demand. However, collective demand from other industries is projected to rise at a CAGR of 9% during the estimated period.
The demand is set to be supported by several macroeconomic factors. These include rising demand for plastics, increasing concerns over yield improvement in agriculture, the booming personal care sector, and the need for novel pharmaceutical products across the globe.
Increasing demand for agricultural products is one of the primary factors behind the growth of the global sector. Fertilizers, herbicides, and pesticides- all necessary agricultural products meant to increase crop yields and guarantee food security- are being made using these organic compounds.
The need for increased agricultural output is growing as the world's population rises, which is indirectly driving demand for the compound in agriculture.
Sales of amines are positively correlated with the extent of pharmaceutical manufacturing and development. The compound is projected to be essential for the synthesis of drugs and the creation of different pharmacological formulations. The pharmaceutical sector is developing swiftly due to improvements in medical research and rising healthcare awareness, which is further boosting demand.
The compounds are likely to be widely used in a variety of sectors due to their reaction compatibility and ease of synthesis into novel compounds. However, concerns regarding the environmental effects and stringent regulations for the use and disposal of these compounds have prompted firms to look for eco-friendly alternatives. This has led to a surging demand for products derived from plants and other renewable resources.
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The annual growth rates of the global amine market from 2024 to 2034 are illustrated below in the table. Starting with the base year 2023 and going up to the present year 2024, the report examined how the industry growth trajectory changes from the first half of the year, i.e. January through June (H1) to the second half consisting of July through December (H2).
This gives stakeholders a comprehensive picture of the sector’s performance over time and insights into potential future developments.
The figures provided show the growth of the sector for each half-year between 2023 and 2024. The market was projected to increase at a CAGR of 9.4% in the first half (H1) of 2023. However, in the second half (H2), there is a noticeable increase in the growth rate.
| Particulars | Value CAGR |
|---|---|
| H1 | 9.4% (2023 to 2033) |
| H2 | 10% (2023 to 2033) |
| H1 | 9.3% (2024 to 2034) |
| H2 | 10.1% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2024, the CAGR is projected to slightly decrease to 9.3% in the first half and relatively increase to 10.1% in the second half. In the first half (H1), the sector saw a decrease of 10 BPS while in the second half (H2), there was a slight increase of 10 BPS.
Use in Pharmaceutical Industry as Intermediates for Analgesics Formulation
Demand for morphine and demerol as analgesics in the pharmaceutical sector is positively influencing the consumption of amines. As these analgesics are typically derived from alkaloids, their production and synthesis require these compounds as key intermediates. Regulatory approvals and compliance guidelines for these drugs indirectly ensure a steady demand for pharmaceutical-grade products.
The compound’s ability to improve the solubility of drugs and provide more stability to medical formulations is anticipated to help enhance their shelf life. The use of these compounds in the formulation of combination drugs, including multiple pain relievers, is set to surge as these help effectively manage pain symptoms.
Growing emphasis on developing local anesthetics and topical analgesics is projected to proliferate consumption of this compound. Increasing requirement of pain-relieving formulations to treat specific conditions, such as accidental trauma, sports injuries, and age-related problems is further expected to trigger demand for these organic compounds in the pharmaceutical sector.
Surging Demand in Effective Agrochemical Manufacturing
Different types of amines are anticipated to be utilized for the synthesis of active ingredients. The compound is also gaining momentum with rising need to improve certain properties of agrochemicals, including emulsification, solubility, stability, and adhesion.
It is hence considered one of the most essential raw materials or intermediates for use in the manufacturing of herbicides, insecticides, fungicides, and fertilizers.
Use of these compounds is set to help manufacturers in the production of agrochemicals with decreased levels of toxicity and enhanced suitability. A few companies are striving to formulate certain herbicides with the compound to offer flexibility in terms of usage, especially for targeted species of plants.
Such unique formulations are enabling companies to create a diverse range of agrochemicals ideal for different types of flora. Demand for innovative compound-based agricultural chemicals is likely to surge among farmers by 2034 as these are considered effective, versatile, and less toxic than traditional ones.
The compound is projected to be utilized as growth regulators, fertilizer additives, and chelating agents for the formulation of plant nutrition products. It is also anticipated to be used in the production of biopesticides that target specific pests. Increasing focus of companies on the manufacturing of bio-based products is set to provide a positive thrust toward the use of these compounds in plant nutrition products.
Paint and Coating Industry to Remain a Significant Consumer
Sales of amines are witnessing prominent growth, predominantly influenced by advancements in the coating industry. These are set to be used as curing agents to enable effective drying and hardening of coatings.
One of the key factors fueling this trend is the development of new coating formulations that require specialized curing agents to achieve enhanced properties. These include improved weather and scratch resistance.
Traditional coatings often contain volatile organic compounds (VOCs) and harmful chemicals that pollute the air and pose health risks. As regulations become strict on VOC emissions, the industry is moving toward the adoption of eco-friendly options like waterborne and low-VOC coatings.
The compounds are set to be important intermediates in these new formulations, as they stabilize waterborne coatings and aid in curing without emission of any harmful by-products. This shift toward green coatings, driven by the need to comply with regulatory and sustainability norms, is increasing the demand for this compound.
The global industry is expanding as manufacturers are scaling up production to meet the rising demand. Growing renovation activities and real estate developments, especially in emerging countries are augmenting the need for advanced coatings, indirectly boosting demand.
Technological advancements in the industry, such as recycling methods, low-temperature curing, and the use of polyfunctional compounds, are set to drive sales. These innovations are projected to help improve efficiency and cost-effectiveness, providing a positive boost to the market.
Strict Government Regulations Ensure Safe Environment Compliant Production
Amines find applications in several industries, serving as building blocks, intermediates, catalysts, property enhancers, additives, and cleaning agents. However, safe handling, discharge, disposal, and recycling are critical due to their potential environmental threats like air pollution, soil contamination, and aquatic toxicity.
Such concerns have led to the implementation of stringent regulations worldwide. For instance, the Restriction of Hazardous Substances Directive in Europe and the Toxic Substances Control Act in the United States have set standards for their use.
Strict regulations affect amine manufacturers by mandating safe practices and compliance with environmental and workplace norms. These help in ensuring that their widespread benefits do not come at the expense of environmental and human health.
Compliance with these regulations is significant for manufacturers, especially as they operate in global markets where these products must meet diverse domestic and regional requirements. Ensuring adherence involves deploying innovative manufacturing technologies, maintaining robust supply chains for raw materials, and implementing industry-leading practices.
While this enhances production capabilities and may affect variable costs, companies must navigate these challenges to balance pricing, remain competitive, and sustain profitability.
Principal Consultant
The global market witnessed a CAGR of 3.7% between 2019 and 2023. Total industry revenue reached about USD 36,576.4 million in 2023. During the forecast period, global sales are projected to fetch a CAGR of 9.7%.
During the historical period, the sector experienced significant fluctuations due to economic qualms. The global economy encountered numerous challenges, such as trade disputes, currency fluctuations, and geopolitical conflicts impacting industries dependent on these compounds.
The COVID-19 pandemic further disrupted global supply chains and industrial activities, leading to a temporary downturn in the market. Supply chain disruptions affected raw material availability and manufacturing operations, thereby impacting sector dynamics.
However, the pandemic also highlighted the importance of the compound in healthcare products, disinfectants, and pharmaceuticals, leading to increased demand in specific segments.
After 2020, the demand for end-products, including pharmaceuticals, pesticides, and detergents increased due to shifting focus toward health concerns. This factor had a positive impact on sales.
During the assessment period, the global market is poised for significant growth, propelled by booming industrial activities in key countries such as India, China, and Brazil. The industry is likely to surge at a rapid pace owing to significant plant expansions and rising presence of key players online. In addition, the post-COVID recovery across industries is set to provide a positive thrust to the industry globally.
Tier 1 companies include industry leaders with annual revenues exceeding USD 10,000 million. These companies are currently capturing a significant share of 40% to 50% globally. These frontrunners are characterized by high production capacity and a wide product portfolio.
They are distinguished by extensive expertise in manufacturing and a broad geographical reach, underpinned by a robust consumer base. The firms provide a wide range of products and utilize the latest technology to meet regulatory standards.
Prominent companies within Tier 1 include BASF SE, Eastman Chemical Company, The Dow Chemical Company, Solvay S.A., and Arkema Group among others.
Tier 2 companies encompass mid-sized participants with revenues ranging from USD 1,000 to 10,000 million, holding a presence in specific regions and exerting significant influence in local economies. These firms are distinguished by robust presence overseas and in-depth industry expertise.
They possess strong technology capabilities and adhere strictly to regulatory requirements. However, the firms may not wield cutting-edge technology or maintain an extensive global reach. Noteworthy entities in Tier 2 include Lonza, Celanese Corporation, and Daicel Corporation.
Tier 3 encompasses most of the small-scale enterprises operating within the regional sphere and catering to specialized needs with revenues below USD 1,000 million. These businesses are notably focused on meeting local demand and are hence categorized within the Tier 3 segment.
They are small-scale participants with limited geographical presence. In this context, Tier 3 is acknowledged as an informal sector, indicating a segment distinguished by a lack of extensive organization and formal structure in comparison to the structured one. Tier 3 includes Indo Amine RCF, Balaji Amine, Amine & Plasticizers Limited, and others.
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The section below covers assessments of amine sales across key countries. Countries from South Asia and Pacific are anticipated to exhibit promising double-digit growth over the forecast period. All the below-listed countries are collectively set to reflect a CAGR of around 11% through the forecast period, which is 1.13X of the global market.
| Countries | CAGR 2024 to 2034 |
|---|---|
| India | 11.6% |
| China | 11.2% |
| Australia and New Zealand | 10.7% |
| ASEAN | 10.4% |
| Japan | 8.7% |
India is considered one of the key chemical manufacturing hubs in South Asia. As per the Ministry of Chemicals and Fertilizers, size of the country’s chemical industry is slated to surpass USD 300 billion by 2025.
India is also the fourth most prominent producer and a key exporter of agrochemicals in the region. Hence, several international companies are projected to set up their facilities to broaden presence.
Sales of amines in India are estimated to witness 4X revenue growth through the assessment period. Aliphatic compounds are likely to be one of the core products in the country owing to increasing consumption in the pharmaceutical sector.
India’s export of pharmaceuticals has been on the rise, which positively relates to the demand for the compound. The pharmaceutical sector is expanding internationally, and India-based companies are exporting more reasonably priced, high-quality generic medications to other nations.
Hence, pharmaceutical manufacturing facilities need these compounds to be continuously supplied in order to meet the increased demand brought about by the export boom.
It is predicted that demand for the compound will increase proportionately with India's emergence as a significant participant in the export sector, particularly in the pharmaceutical industry. The country’s government is dedicated to implementing cutting-edge agricultural techniques and practices to push productivity.
Farmers have been presented with several schemes and incentives to encourage the use of agrochemicals, which has augmented demand for these compounds. New agrochemicals will likely continue to be required to support industrial expansion as the agriculture sector develops and the complexity of achieving high yields per unit of land rises.
In the forecast period, China's amine industry is predicted to rise steadily at a CAGR of 11.2% and attain a total worth of USD 7,523.4 million by 2034. One of China's main advantages is the country’s capability to offer quality products at reasonable prices.
This pricing advantage enables end-users to keep a check on initial expenses and ensure effective product margins to support long-term growth strategies.
Another factor driving China's dominance is the growing manufacturing and sales of chemicals, which is a result of its existing and scalable production capabilities. For instance, in an effort to improve production efficiency and meet expanding regional demand, BASF-YPC Company Limited, a joint venture between BASF and Sinopec, opened a new amine factory in Nanjing in January 2023.
Similar to India, China's agrochemical sector is consolidated. However, local businesses have expanded to become partners with international agrochemical producers, serving as a key source of generic agrochemical intermediates and active ingredients.
Being the world's leading chemical manufacturer, China produces the compound in large volumes, which can be attributed to its vast size, existing capacities, technological expertise, and skilled labor force.
Australia and New Zealand are projected to surge at a CAGR of 10.7% from 2024 to 2034, with sales expected to reach USD 1,165.3 million by 2034. The economy of Australia is characterized by high mining industry output. As of 2023, it contributed around 13% to the country’s economy.
The country is witnessing a consistent increase in mining exports. Amine is projected to find usage as mining flotation agents, frothing modifiers, anti-caking agents, and other property enhancers. A robust mining sector in the country suggests that its chemical consumption is growing steadily.
Australia's mining and mineral sectors are highly active. These sectors are seeking these compounds for use in sorting procedures, which is supporting growth. The large-scale farming sector in the country requires several agricultural chemicals, such as insecticides and herbicides. These primarily include these compounds as essential raw materials, thereby propelling sales.
The industrial base in Australia and New Zealand benefits from innovative infrastructure, skilled labor, and supportive regulatory frameworks. These are projected to create a conducive environment for chemical production and distribution. For instance, companies like Orica and Incitec Pivot in Australia significantly impact the sector with a broad range of products.
The section explains the growth trajectories of the leading segments in the industry. In terms of product type, the aliphatic category will likely dominate and generate a share of around 25.5% in 2024. Based on end-use, the pharmaceuticals segment is projected to hold a share of 32.5% in 2024. The analysis would enable potential clients to make effective business decisions for investment purposes.
| Segment | Aliphatic (Product Type) |
|---|---|
| Value Share (2024) | 25.5% |
The aliphatic segment is forecast to experience a decent CAGR of 11.2% from 2024 to 2034. The surging demand is likely to be propelled by increased applications in pharmaceuticals, agrochemicals, and water treatment sectors.
A few other key factors contributing to this surge include advancements in chemical synthesis, rising environmental regulations, need for more efficient water treatment solutions, and growing agricultural productivity demands. Expanding pharmaceutical sector, driven by an aging global population and rising healthcare needs, further pushes demand for aliphatic compounds, bolstering their key role.
| Segment | Pharmaceuticals (End-use) |
|---|---|
| Value Share (2024) | 32.5% |
The pharmaceutical industry, with a projected value share of 32.5% in 2024, is poised to significantly impact the global market. Amines are set to be important for the production of analgesics, antihistamines, and antimalarials, thereby pushing demand. Growth is also estimated to rise amid surging use of the compound as essential intermediates and raw materials in pharmaceutical products.
Innovations in medical development and increasing prevalence of chronic diseases necessitate the production of complex and varied pharmaceuticals. This trend is further likely to support the demand for specialized compounds. Regulatory support for pharmaceutical innovation and favorable government policies are also expected to enhance growth prospects.
Another key factor influencing this dynamic is rising investment in research and development in the pharmaceutical sector. Companies are focusing on developing novel drugs and therapies, which inherently require diverse and high-quality compounds.
For instance, Colorado-based PharmaTech announced significant advancements in its pipeline of cancer treatments. The company leveraged these compounds as key components in the synthesis of innovative drug candidates. This underscores the important role of the compound in addressing the rising demand for pharmaceuticals targeting chronic diseases.
The section provides comprehensive assessments and insights that highlight current opportunities and emerging trends for companies in developed and developing countries. It analyzes advancements in manufacturing and identifies the latest trends poised to drive new applications in the market.
A few key players in the amine market are actively enhancing capabilities and resources to cater to the growing demand for the compound across diverse applications. Leading companies also leverage partnership and joint venture strategies to co-develop innovative products and bolster resource base.
Significant players are further introducing new products to address the increasing need for cutting-edge solutions in various end-use sectors. Geographic expansion is another important strategy that is being embraced by reputed companies. Start-ups are likely to emerge in the sector through 2034, thereby making it more competitive.
Industry Updates
Product types included in the study are fatty, aliphatic, specialty, aromatic, ethanol, and ethylene amines as well as derivatives. Coco, oleylamine, tallow, and soya are a few types of fatty compounds.
Methyl, ethyl, n-propyl, isopropyl, n-butyl, and cyclohexyl amines come under the aliphatic type. BAPMA, TEDA, DECHA, and DCHA are the key types of specialty compounds. Aniline, diphenyl, and phenylene diamine are the leading types of aromatic compounds. Urea, azo compounds, amino alcohols, amino acids, and imine and imino compounds are the key derivatives.
End-use segments included in the study are pharmaceuticals, agrochemicals, paints, coatings, dyes and inks, plastic, polymer and rubber, MDI, water treatment, cosmetics, personal care, industrial and home care, and others.
Regions considered in the study include North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and the Middle East and Africa.
The global market was valued at USD 36,576.4 million in 2023.
The global market is set to reach USD 39,469.6 million in 2024.
Global demand is anticipated to rise at 9.7% CAGR.
The industry is projected to reach USD 99,445.7 million by 2034.
Aliphatic products dominate in terms of share.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Product Type
6.2. End Use
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type
7.1. Fatty Amines
7.1.1. Coco Amine
7.1.2. Oleylamine
7.1.3. Tallow Amine
7.1.4. Soya Amine
7.1.5. Others
7.2. Aliphatic Amine
7.2.1. Methyl Amine
7.2.2. Ethyl Amine
7.2.3. N-propyl Amine
7.2.4. Isopropyl Amine
7.2.5. N-Butyl Amine
7.2.6. Cyclohexyl Amine
7.2.7. Others
7.3. Amine Derivatives
7.3.1. Urea
7.3.2. Azo Compounds
7.3.3. Amino Alcohols
7.3.4. Amino Acids
7.3.5. Imine & Imino Compounds
7.3.6. Others
7.4. Specialty Amines
7.4.1. BAPMA
7.4.2. TEDA
7.4.3. DECHA
7.4.4. DCHA
7.4.5. Others
7.5. Aromatic Amines
7.5.1. Aniline
7.5.2. Diphenyl Amine
7.5.3. Phenylene Diamine
7.5.4. Others
7.6. Ethanol amines
7.7. Ethylene amine
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
8.1. Pharmaceuticals
8.2. Agrochemicals
8.3. Paints, Coatings, Dyes & Inks
8.4. Plastic, Polymer & Rubber
8.5. MDI
8.6. Water Treatment
8.7. Cosmetics, Personal Care, Industrial & Home Care
8.8. Others
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
9.1. North America
9.2. Latin America
9.3. Western Europe
9.4. South Asia
9.5. East Asia
9.6. Eastern Europe
9.7. Middle East & Africa
10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Sales Forecast 2024 to 2034 by Product Type and End Use for 30 Countries
18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
19. Company Profile
19.1. BASF SE
19.2. The Dow Chemical Company
19.3. Evonik Industries AG
19.4. Solvay S.A.
19.5. Arkema Group
19.6. Huntsman International LLC
19.7. INEOS
19.8. Celanese Corporation
19.9. Nouryon
19.10. Alkyl Amines Chemical Limited
19.11. Balaji Amines Ltd.
19.12. Indo Amines Limited
19.13. Amines & Plasticizers Limited
19.14. Rashtriya Chemicals and Fertilizers Limited
19.15. Eastman Chemical Company
19.16. Company Pte. Ltd.
19.17. Daicel Corporation
19.18. Mitsubishi Gas Chemical Company Inc.
19.19. SABIC
19.20. Tosoh Corporation
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