Albany, New York, USA (PRWEB) January 22, 2014
According to a new report published by Transparency Market Research "Amines Market -Global Industry Size, Market Share, Trends, Analysis and Forecast, 2013 - 2019", the global demand for amines was valued at USD 10.57 billion in 2012 and is expected to reach USD 13.45 billion in 2019, growing at a CAGR of 3.5% between 2013 and 2019. In terms of volume, the demand was 3,635.3 kilo tons in 2012 and is expected to be 4,501.3 kilo tons in 2019, growing at a CAGR of 3.1% between 2013 and 2019.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/amines-market.html.
Increasing demand of agricultural yield, changing lifestyles of consumers and growing construction industry are some of the factors driving the demand for amines. The development of crop protection chemicals industry is expected to be one of the vital factors driving the demand for amines over the next few years. In addition, growth of paints and coatings industry due to numerous factors such as growth in construction and buildings industry is expected to fuel the growth of the market within the forecast period. However, volatile raw material prices and environmental regulations are expected to restraint the growth of the market in the near future. Increasing application scope of amines in water treatment coupled with growing demand for amines in personal care industry is expected to open opportunities for the growth of the market over the next few years.
Ethanolamines were the most widely used amines accounting for over 50% of the global demand in 2012. Owing to its versatility, the demand for amines is expected to be substantially high over the forecast period. However, fatty amines are expected to show the fastest growth over the next few years owing to their growing demand in personal care industry.
Crop protection chemicals accounted as the largest application segment for amines in 2012. Amines are being increasingly used in crop protection chemicals to protect crops from insects, pests and fungi. However, the demand for amines is expected to be growing from the surfactant market within the forecast period. Growing demand amines in surfactants due to its ability to increase foam capacity is expected to drive amines market in next few years. Amines demand in surfactant market is expected to be 1,236.9 kilo tons by 2019.
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North America dominated the amines market in 2012 followed by Asia Pacific owing to the growth of surfactant industry. Asia Pacific is expected to witness the highest growth within the forecast period on account of increasing usage of crop protection chemicals and surfactant industry. The demand for amines in Asia Pacific is expected to grow at a CAGR of 3.5% between 2013 and 2019.