The global alkyl amines market size was USD 6,328.59 Million in 2021 and is expected to register a revenue CAGR of 5.9% over the forecast period, according to the latest report by Reports and Data.
Farmers are concentrating on minimising the length of time needed for crop production by using excessive amounts of fertiliser and pesticides due to the rising demand for packaged food goods and raw food items. Governments from different nations throughout the world are putting a lot of effort into modernising agriculture by providing infrastructure, subsidies, and access to foreign markets.
Therefore, a lot of fertilisers and pesticides are used to cultivate crops in order to improve production. Alkyl amine derivatives are needed by businesses that produce chemicals in accordance with this method. Alkyl amines are also used in the production of pesticides such Fenvalerate, Butachlor, Dichlorvos (DDVP), Cypermethrin, Monocrotophos, Fonaphos, Phosphamidon, and Alphamethrin. The growing demand for agricultural products is anticipated to fuel market revenue growth as a result of the growing world population.
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Some Key Highlights from the Report
- Methylamines, Ethylamines, Butylamines & Isobutylamines, Propylamines & Isopropylamines, Amylamines, Cyclohexylamines, and Others make up the type-based segments of the alkyl amines market. In 2020, the category selling amylamines had the biggest revenue share. It is a specialised substance that can be used to produce monoamylamine (MAA). The synthesis of boramides, neutralised fatty acids, and triazines all use monoamylamine as a flexible intermediate and special neutralising agent. Applications for lower alkylamines include catalysis and the manufacturing of rubber.
- According to regional analysis, the market for Asia-Pacific alkyl amines is anticipated to experience a markedly high rate of revenue growth during the forecast period. The market in the region is experiencing revenue growth as a result of rising product demand from top-selling FMCG products including cosmetics, agrochemicals, and pesticides as well as in water treatment chemicals for delivering clean and safe drinking water by treating wastewater.
- Balaji Amines made the decision to build a new acetonitrile manufacturing facility in August 2021. To accommodate the rising demand for this chemical, this plant was built. The company’s capacity will grow by 16500 TPA with the addition of this new plant. The business produces speciality chemical and pharmaceutical excipient derivatives.
- Companies profiled in the market report include 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.
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