Specialty Amines Market size was over USD 15 Billion in 2023 and is expected to exceed USD 21 Billion by the end of 2036, overgrowing at a CAGR of over 5% during the forecast period i.e., 2024-2036. In the year 2024, the industry size of specialty amines is assessed at USD 17 Billion.
The rising advancement in pharmaceutical industries globally will exponentially help the specialty amines market to grow in the upcoming years. According to the data provided by the Congressional Budget Office of the U.S., compared to the preceding eleven years, the number of new pharmaceuticals licensed for sale climbed by 60% between 2010 and 2021, reaching a peak of 59 new drugs approved in 2018.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2036 |
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CAGR |
5% |
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Base Year Market Size (2023) |
USD 15 Billion |
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Forecast Year Market Size (2036) |
USD 21 Billion |
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Regional Scope |
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Type (Alkyl Alkanolamines, Ethanolamines, Ethyleneamines, Isopropanolamines)
Ethanolamines segment is poised to account for around 48% specialty amines market share by 2036 because of the intensive use of ethanolamines as feedstock in the generation of detergents, pharmaceuticals, emulsifiers, etc. globally.
Between 2024 and 2036, the world's consumption of ethanolamines is expected to increase at an average annual rate of 2.4%, mostly due to the growth of growing Asian markets, especially those in mainland China. The current global population growth and climate change make it imperative that innovative, practical, and affordable natural products be developed for the good of humanity.
Treatment Type (Water Treatment, Personal Care)
By 2036, personal care segment is estimated to dominate over 70% specialty amines market share owing to the increasing use of specialty amines in personal care kinds of stuff such as soaps, shampoos, and different types of creams, etc.
Eastman's functional amines division produces basic alkyl amines and solvents, which serve as the foundation for many of its downstream derivative products. The specialized amines division of Eastman comprises formic acid solutions, performance products, and specialty intermediates. These offerings offer amine-derived building blocks that are commonly utilized in personal care end-use applications.
Function (Solvent, Chelating Agent, Corrosion Inhibitor, Bleach Activators, Surfactants)
In specialty amines market, surfactants segment is predicted to account for around 37% revenue share by 2036 due to the increasing awareness associated with personal care in people globally.
According to the Personal Care Association Europe, the 500 million customers in Europe who use cosmetics and personal care products daily do so to safeguard their health, improve their well-being, and increase their self-esteem. Cosmetics, which include everything from antiperspirants to perfumes, shampoos, make-up, and sunscreen to soaps, tubes of toothpaste, and sunscreens, are vital at every stage of life and offer significant emotional and practical advantages.
Our in-depth analysis of the global specialty amines market includes the following segments:
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Type |
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Treatment Type |
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Grade |
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Function |
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Application |
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End-Users Industries |
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Implementation Type |
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North American Market Statistics
North America region in specialty amines market is poised to hold more than 38% revenue share by 2036. This growth will be noticed owing to the increasing use of raw materials in pharmaceutical industries for specialty amines in this region. The United States chemical industry stated that they transform raw materials into over 70,000 different products that are necessary for contemporary living and then supply those goods to over 750,000 final consumers across the country.
The rising chemical industry and the expanding export of chemicals will help the U.S. to have a huge expansion in the specialty amines industry. At almost 9 percent of all U.S. exports, the chemical industry is the country's largest exporter.
Canada will also encounter a huge expansion due to the rising pesticide industry in this country and specialty amines used to make pesticides like herbicides and fungicides. According to Innovation, Science, and Development Canada, in 2023 there was almost USD 124 million export has been made on pesticides in Canada.
APAC Market Analysis
APAC region specialty amines market revenue is expected to cross USD 1 Billion by the end of 2036 owing to the increasing modernization of agricultural sectors in this region. Firstly, modern agriculture is needed to meet the vast demands of a large population. With 76% of Asia’s poor living in rural regions, improving agricultural output and income is vital to eliminating poverty, according to the theme chapter of Asian Development Outlook 2021 Update issued in September 2021.
The rising need for food production with the rising population in China will expand the specialty amines industry growth. It is critical to match agriculture with the requirements of China's population of over 1.4 billion as it seeks modernization for its benefit.
The rising beauty care and cosmetics industry in Korea will help the specialty amines industry to grow at a rapid pace in this country. According to the International Trade Association (ITA), the Korean government revealed intentions in March 2023 to create big data and IoT-based individualized skin diagnostic programs and customized cosmetics to support the country's bio-health sector.
Recent developments in AI and digitalization in Japan will help this country expand specialty amines market demand in this region. NEC, a Tokyo-based company that has been actively involved in AI research, is a pioneer in the integration of network and IT technologies.
Author Credits: Rajrani Baghel
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