Amine Catalyst Market Size

Amine Catalyst Market size was over USD 15.78 Billion in 2023 and is anticipated to cross USD 30.5 Billion by the end of 2036, growing at more than 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of amine catalyst is estimated at USD 16.52 Billion. The major factor attributed to the growing market in the assessment period is the increasing demand for amine catalysts in the automotive industry. Amine catalyst is heavily being used as a coating material as a substitute for leather for making seat covers of vehicles owing to its advantages such as protection from UV radiation and high temperature. Thus, the increased production rate of vehicles is estimated to bring in lucrative growth opportunities for market growth during the estimated time period. As per the Organization of Motor Vehicle Manufacturers (OICA), the global production of vehicles was 80,145,988 units in 2021 around the world. This figure has increased from 77,711,725 units of vehicles in 2020.

Amine catalysts aid the development of foams, adhesives & sealants, coatings, elastomers, and others. All these applications of amine catalysts are projected to expand the usage of amine catalysts in various end-use industries such as automotive, construction, electrical & electronics, and other industries which in turn is anticipated to expand the size of the global amine catalyst market during the forecast period. Furthermore, amine catalysts also have characteristics of corrosion inhibitors in lubricants, machining fluids, and cooling systems for industrial, automotive, marine, and other applications which are estimated to create favorable opportunities for market expansion in the forecast period.