May 21, 2024

Amines Market Is Expected To Be Flourished By Rising Demand From Detergents Industry

Amines are primarily used in the production of detergents and cleaning agents. This is due to their ability to remove dirt and grime effectively. Amines are widely utilized in acidic liquid and powder detergents due to their high surfactant activity, which leads to superior cleaning performance with low concentrations. Key product types include EDA/TEA-based acids, fatty amines, and alkylamines. The growing detergents industry globally, especially in developing nations due to increasing urbanization and washing volumes is expected to drive demand substantially over the coming years.

The global amines market is estimated to be valued at US$ 18 Mn in 2024 and is expected to exhibit a CAGR of 3.2% over the forecast period from 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the major drivers for the amines market is the rising demand from the detergents industry. As mentioned earlier, amines act as powerful surfactants and cleaning agents which are crucial components of liquid and powder detergents. The detergents industry has been growing at a steady pace over the past few decades with rising standards of living in developing regions. Developing countries such as India, China, Brazil, and others are witnessing higher washing frequencies and volumes due to increasing urbanization. This has vastly increased the consumption of detergents and the need for efficient surfactants like amines. According to estimates, the global detergents market was valued at over US$ 50 billion in 2020 and demand is only set to surge further till 2031 and beyond.
Segment Analysis
The Amines Market Size is segmented based on product type into alkylamines, ethanolamines, fatty amines, specialty amines. Among these, the alkylamines segment dominates with a market share of over 40% in 2024 owing to its wide applications in agrochemicals, rubber processing, surfactants, refrigerants, and plasticizers. Alkylamines such as ethylenediamine, diethylenetriamine and triethylenetetramine find major usage as intermediates in the manufacture of surfactants, agrochemicals, rubber processing chemicals, polyurethane foams, epoxy curing agents, oil & gas drilling chemicals, water treatment chemicals, and others. This high demand from end-use industries has enabled alkylamines segment to dominate the amines market.

PEST Analysis
Political
: Regulations regarding emissions of volatile organic compounds can hamper market growth to some extent. However, increasing infrastructure development activities in emerging nations will drive the demand.
Economic:Growing industrialization and rising disposable incomes in developing countries will augment the market over the forecast period. The forecast period of 2024-2031 presents an opportunistic time frame with steady economic growth.
Social: Increasing population and rapid urbanization are key drivers for the amines market. Growing demand for housing, automobiles, consumer goods requires polymers, plastics, agrochemicals which utilize amines.
Technological: Manufacturers are investing in R&D to develop bio-based and environmentally sustainable amines. New technologies help reduce production costs and minimize environmental footprint of amines.

Key Takeaways
The global amines market size was valued at US$ 18 Mn in 2024 and is projected to reach US$ 21 Mn by 2031, expanding at a CAGR of 3.2% during the forecast period.

Regional analysis indicates Asia Pacific as the fastest growing market for amines attributable to robust growth of end-use industries in China, India, Indonesia, and other developing Asian countries.

Key players operating in the amines market are SGS Group, Bureau Veritas SA, TUV Rheinland Group, Intertek Group PLC, ALS Limited, DNV GL, MISTRAS, Lloyd€TMs Register Group Limited, Underwriters Laboratories Inc., ABS Group, and ASTM International. The market is quite competitive with major players focusing on capacity expansion and backward integration strategies to gain higher shares.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it