Amines Market – Market Overview
Amines are a lucrative market and is expected to have a steady growth during the forecast years. Amines are organic compounds and functional groups which contains nitrogen atom with a pair of lone electrons. Amines are ammonia derivatives where one or more hydrogen atoms is replaced by aryl or alkyl group. Amino acid, biogenic amines and aniline are some of the important type of amines. Amines are involved in the creation of amino acids that are building blocks proteins which are important to the human diet. Amines are used in wide range of applications such as agricultural chemicals, cleaning products, gas treatment, personal care, and water treatment among others. Moreover, amines are also used in the pharmaceutical industry and the building and construction industry. Amines are used in the production of Morphine, Demerol, Novocain and Ephedra among others. Morphine and Demerol are used as pain killers whereas Novocain is an anesthetic and Ephedra is a commonly used decongestant. Moreover, amines are also used for pest control, tanning of leather and find large applications in man-made dyes. The Global Amines Market is segmented on the basis of Product Type, Applications and Regions.
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According to the analysis of MRFR, the major market forces and trends driving growth of the Global Amines Market includes growth of construction sector and the burgeoning growth in the Pharmaceutical industry. Moreover, the increasing personal disposable income in the developing economies throughout the globe has augmented the construction activities especially in India and china which in turn is further expected to fuel the growth of the Global Amines Market during the forecast period. In addition, the growing government investment in development of residential and commercial infrastructure throughout the globe coupled with the increasing demand for amines in the agricultural sector is substantially contributing to the growth of the market. Furthermore, the wide application of amines in the crop protection chemicals, and personal care products is also expected to positively affect the market during the forecast years.
Amines Market- Competitive Landscape
The Global Amines Market is a highly lucrative market driven by flourishing growth in pharmaceutical and petrochemical industry, along with the propelling construction industry. AkzoNobel NV (The Netherlands), BASF SE (Germany), The Dow Chemical Company (U.S.), +Huntsman Corporation (U.S.), Clariant AG (Switzerland) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the Global Amines Market is projected to witness considerable competition over the forecast period of 2017-2023.
Asia pacific is expected to be the dominant region in the market of Amines during the forecast period. The growing development of manufacturing and energy sector are the major factors driving the market growth. Moreover, the development of the retail sector in the region has made the availability of FMCG goods easier which in turn is expected to boost the market growth.
Industry/ Innovation/ Related News:
29 November 2017- Indo Amines Limited (IAL) a manufacturer of specialty chemicals and pharmaceuticals has amalgamated with Classic Oil Company. This merger is expected help IAL to the fixed assets of classic oil company for the erection of its new plants. Moreover, this amalgamation will also help the company to strengthen raw material sourcing, product placement and sales promotion activities among others.
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