Amine Catalyst Market Trends

Growth Drivers

• Rapid Growing Construction Sector – Amine catalysts are considered to be an ideal option for construction processes as rigid forms and increase the strength of the infrastructure. Thus, the rapid expansion of the construction industry and high investments in the construction sector by major key players and the government are anticipated to fuel the growth of the global amine catalyst market in the upcoming years. As per recent statistics, the total spending in the U.S. construction sector was expected to be USD 1.36 trillion in 2020. Further, the U.S. construction industry accounted for 4.2% of the total GDP in 2021.

• Quick Expansion of the Automotive Industry – Anime catalyst has very advantageous benefits including high tensile strength, resistance against extreme heat, protection from harmful UV rays, and others. Thus, vehicle manufacturers are demanding a high amount of amine catalyst for producing highly-efficient vehicles. Hence, the swift expansion of the automotive sector is expected to create a positive outlook for market growth in the next few years. As per the recent data published, it has been calculated that the global automotive industry is projected to garner approximately USD 9 trillion by 2030.

• Investments Made in the Chemical Industry for High Production of Amine Catalyst – It has been calculated that the global chemical industry garnered almost USD 5 trillion in 2021 worldwide.

• Increased Expenditure on Research and Investment Activities -  Key players of the global market is investing huge amounts in developing technologically developed components such as amine catalyst in the upcoming years for bridging the gap between supply and demand of amine catalyst in various end-use industries. Thus, the high expenditure on research and development activities is expected to create a positive outlook in the upcoming years. The World Bank released the global expenditure made in the Research & Development (R&D) sector which showed that in 2020 it was 2.63% of the total GDP. This is an increase from year 2.14% of the total GDP in 2016.

Challenges

• Highly Volatile Nature of Amine Catalyst
• High Cost Associated with the Manufacturing Processes - Although amine catalyst has many benefits, the production process requires huge investments. Such high manufacturing costs subsequently result in increased costs for the end users. This trend is anticipated to lower the adoption rate of products manufactured with ethylene glycol owing to the presence of a large population base with low and middle income. Hence, it is estimated to hamper the market growth during the assessment period.
• Requirement of High Investments