The North America amines market size
is expected to reach USD 4.02 billion by 2025, according to a new report by
Grand View Research, Inc., rising at a CAGR of 7.7% during the forecast period.
Increasing surfactant demand, coupled with rising need for crop protection
chemicals in North America, are key factors driving market growth.
Fluctuating raw material cost for amines
production has been putting a squeeze on margins primarily in U.S. Availability
of raw materials and price is a key factor used by amines manufacturers to
determine the cost of their product. Raw materials used for amines
manufacturing include ammonia and ethylene oxide. Raw materials used in the
production of amines are petroleum-based byproducts and thus vulnerable to
fluctuations in commodity prices.
Rising demand for bio-surfactants in
developed countries of North America, on account of regulatory pressure to
reduce dependence on their synthetic equivalents, is expected to create new
growth opportunities for industry participants. Growing consumer awareness will
also play a key role in market development. Governments in these regions been
promoting the use of bio-surfactants, which also promotes industry participants
to increase production.
U.S. was the largest crop protection
chemicals market in 2016, and this trend is expected to continue over the
forecast period. Rapidly increasing awareness regarding health and health
safety, increasing population, necessity for higher crop yield, and reduced
arable land is expected to drive market demand over the forecast period. Rising
awareness among consumers regarding harmful effects of synthetic agrochemicals
is also expected to drive product demand.
Rising demand for cosmetic products in
Mexico and Canada is expected to drive overall market growth over the next few
years. A thriving hair care industry in the region, on account of soaring
demand for styling agents, is anticipated to boost market growth over the
forecast period. Presence of major cosmetic manufacturers in the market,
including L’Oréal, Avon, Proctor & Gamble, Elizabeth Arden, Johnson &
Johnson, Estee Lauder, and Mary Kay, is expected to have a positive impact on
the amines market over the forecast period.
Access Research Report of North America Amines Market @ https://www.grandviewresearch.com/industry-analysis/north-america-amines-market
Further key findings from the report suggest:
· In terms of volume, demand for
ethanolamines in North America is anticipated to reach 797.2 kilotons by 2025,
at a CAGR of 3.0% from 2017 to 2025
· In terms of revenue, the fatty amines
segment is projected to ascend at a CAGR of 8.5% over the forecast period
· The crop protection application dominated
the North America amines market in terms of revenue with a share of 29.5% in
2016
· The U.S. amines market is anticipated to
exceed 1,192.5 kilotons by 2025
· The market for amines is highly competitive
with presence of a number of multinational companies. Some of the key companies
present in the market are Arkema S.A., AkzoNobel N.V., BASF SE, SABIC, Dow
Chemical Company., Huntsman Corporation, Mitsubishi Gas Chemical Co., Taminco
Corporation, Celanese Corporation., and Sinopec Corp.
Grand View Research has segmented the North
America amines market on the basis of product, application, and country.
Amines Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Ethanolamines
·
Fatty amines
·
Alkylamines
·
Others
Amines Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Crop protection
·
Surfactants
·
Water treatment
·
Personal care
·
Gas treatment
·
Others
Amines Country Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
U.S.
·
Canada
·
Mexico
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
