Specialty Amines Market Set to Witness an Uptick during 2018 - 2026
Amines are organic compounds and functional groups that are derived from ammonia. Specialty amines are important multifunctional chemicals that possess exceptional mechanical properties. Specialty amines are colorless or light yellow liquids that are soluble in water. Specialty amines are chemical intermediaries with excellent synthesizing properties. Products synthesized with specialty amines exhibit characteristics such as electric insulation and resistance to radiation, abrasion, and heat.
In terms of grade, the global specialty amines market can be segmented into < 99% and ≥ 99%. The ≥ 99% segment holds a key share of the market. Demand for specialty amines with ≥ 99% grade for use in pharmaceutical and personal care industries is expected to increase in the near future, owing to their high utilization in analgesics, sedatives, and antispasmodics.
Based on type, the specialty amines market can be segregated into alkyl alkanolamines, ethanolamines, ethyleneamines, isopropanolamines, and others. The ethanolamines segment is estimated to hold a major share of the global specialty amines market in the near future. Monoethanolamine (MEA), diethanolamine (DEA), and triethanolamine (TEA) form a part of the ethanolamine family. They exhibit properties of both amines and alcohols. These multifunctional chemicals belonging to the ethanolamine family are primarily used in detergents, specialty cleaners, gas-treating chemicals, and personal care products.
In term of application, the specialty amines market can be divided into epoxy curatives, fuel additives, chemical intermediaries & catalysts, and others. The chemical intermediaries & catalysts segment accounts for a significant share of the global specialty amines market. Specialty amines act as chemical intermediaries and catalysts and function as chelating agents, corrosion inhibitors, bleach activators, and surfactants in various end-use industries.
Based on end-use industry, the specialty amines market can be divided into water treatment, personal care, pharmaceutical, polymers & chemical processing, agriculture & animal nutrition, and others. The polymers & chemical processing segment held a substantial share of the global specialty amines market. Specialty amines are employed in the manufacture of specific polyols and urethane foams. Specialty amines are formulated to reduce carbon dioxide from gas-streaming applications. Gas treaters employ specialty amines to offer clean energy sources to curb growing pollution. Stringent regulations regarding air quality standards are being met by increasing utilization of specialty amines in gas treatment applications. Strict laws against pollution are expected to augment the demand for specialty amines during the forecast period.
In terms of geography, the global specialty amines market can be divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific held a major share of the global specialty amines market in 2017, due to presence of leading polymer manufacturers and chemical processors in the region. Rapid industrialization in countries such as China, Japan, and South Korea is projected to drive the demand for synthetic amines in Asia Pacific during the forecast period. Specialty amines are widely used in pesticide-resistant crops to maximize the crop output and the quality of crop harvest. Rise in agricultural cultivation and increase in the adoption of developed agricultural production techniques, including usage of specialty amines, in Asia Pacific is anticipated to boost the demand for specialty amines in the region during the forecast period. North America and Europe also held significant shares of the global specialty amines market in 2017, owing to increase in the demand for these amines in pharmaceutical and personal care industries in these regions.
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Key players operating in the global specialty amines market are Air Products and Chemicals, Inc., Arkema Group, Ascend Performance Materials, BASF SE, BorsodChem MCHZ, s.r.o., Eastman Chemical Company, Huntsman International LLC, Mersaco, The Dow Chemical Company, and Wanhua Chemical Group Co., Ltd. These players focus on increasing their production capacities in order to strengthen their market position and gain competency in the global specialty amines market.
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