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Alkyl Amines market Size – USD 5,953.6 Million in 2020, Market Growth – at a CAGR of 5.9%. Rapid growth of the chemical industry, particularly in Asia Pacific
NEW YORK CITY, NY, UNITED STATES, March 22, 2022 /EINPresswire.com / -- Global Alkyl Amines Market size is expected to reach USD 9,453.2 Million in 2028 and register a revenue CAGR of 5.9% over the forecast period, according to the latest report by Reports and Data.
Alkyl mines Market revenue growth is expected to be driven by rising awareness regarding benefits of using alkyl amines in production of medicines at cost-effective rates, better quality fertilizers, paints, dyes, papers, and rubber chemicals. This chemical is also used in various laboratories for research purposes for developing new compounds, which can further enhance quality of certain products.
Alkyl amine is an organic compound known for having carbon, hydrogen and nitrogen atoms in its structure. Several intermediate solvents and surfactants are made using this compound. Rapidly growing end-use industries such as agrochemicals, pharmaceuticals, water treatment, cosmetics, and paper, and increasing consumption of alkyl amines in these industries are factors boosting market revenue growth.
A recent studies conducted in the US, stated that Methylamines offer insulin-like properties, and scientists have confirmed that it can be used as a strong anti-diabetic drug than mafenide. However, stringent government regulations on product approvals and launch, and high maintenance charges on transporting such compounds are factors that could hamper market revenue growth.
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Top Leaders Operating in the Market are :
BASF SE, AkzoNobel Chemicals, Mitsubishi Gas Chemical Company, Alkyl Amines Chemicals Ltd., Shandong Hualu Hengsheng Chemical, Koei Chemical Company Limited, Luxi Chemical Group Co. Ltd, Feicheng Acid Chemicals, Taminco, Balaji Amines, Eastman Chemical Company, DuPont.
Some Key Highlights from the Report
By type, amyl amines segmented accounted for largest revenue share in 2020. Amyl amines are used as a corrosion inhibitor, solvent, floating agent, and in the production of other chemicals. Amyl amines are known for production of wide range of products such as dyes, drugs, agrochemical substances, chemicals in paints and rubbers, as well as in treatment of waste-water plants. This chemical plays a crucial role in treatment of water, and this coupled with, depleting ground water, and rising need for treating waste water to be supplied for use in residential and commercial sectors are factors driving revenue growth of the segment.
By application, the rubber industry segment accounted for largest revenue share in 2020. Various chemicals are manufactured using alkyl amines, which are used in the rubber industry. For instance, as raw material in products such as tetramethyl thiuram disulphide, which is used as a stabilizing agent. Similarly, zinc dimethyl dithio carbamate is made with this chemical and is used as a preservative agent, and vulcanization accelerator.
Asia Pacific alkyl amines market accounted for largest revenue share in 2020 due to significantly rising demand for FMCG products such as cosmetics in developing countries, and increasing consumption of alkyl amines for production of cosmetics. Additionally, increasing modernization of agriculture has increased demand for pesticides and agro-based chemicals, and this is expected to support revenue growth of the market in this region.
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Market Overview:
The chemicals and materials industry is made up of a diverse group of businesses that differ in size, geography, business style, and end-market emphasis. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based materials as raw materials on one hand and a diverse range of application industries on the other. Petrochemicals, diversified manufacturers, and speciality chemical businesses have all been segments of the sector in the past.
The chemical industry has long been associated with Western Europe and North America. For a long time, Europe has been the leading manufacturer of chemical products, followed by the United States and Japan. However, according to Statista, an online statistics portal, the Asia Pacific region has taken over the business, with domestic chemical sales totalling USD 2.79 trillion in 2016. In terms of chemical sales, Asia Pacific was well ahead of other areas, according to the figures, which define the total value of all domestic sales of chemicals worldwide depending on region.
The Alkyl Amines market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Alkyl Amines market.
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Alkyl Amines Market Segmentation:
Based on Product Type:
Methylamines
Ethylamines, Butylamines & Isobutylamines
Propylamines & Isopropylamines
Amylamines
Cyclohexylamines
Others
Based on Application:
Rubber Industry
Agrochemical Industry
Water treatment Industry
Pharmaceuticals Industry
Paper Industry
Others
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Regional Analysis Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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