Quality Amine, Non-Amine Chemicals, and Formulations Market size is set to expand at significant growth rate during the forecast period i.e., between 2024-2036. Amines find application in various day-to-day activities, including production of amino acids inside the human body. The growing use of amine formulation and chemicals amongst various sectors is estimated to primarily drive the market growth. Besides, surge in the demand for agrochemicals, backed by increasing demand for food crops to feed the growing population, is anticipated to propel the market growth. For instance, it was noticed that the volume of agrochemicals reached close to 285 million metric tons in 2019. Moreover, amine chemicals find application in pharmaceutical industry, which is estimated to boost the market growth. Various analgesics, anesthetics, decongestants, including, morphine, Demerol and Novocain, contain amines. Moreover, increasing investment in the chemical sector globally, is projected to fuel the market growth.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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Regional Scope |
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The market is segmented by application into medicines, water treatment, azo-dyes, pesticides, and others. Out of these segments, the medicines segment is anticipated to hold the notable share in the global market over the forecast period on account of the increasing research activities in healthcare for development of new drugs, along with rising demand for analgesics. Moreover, increasing investment in the healthcare sector is further anticipated to encourage the segment growth.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Application |
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By End-User Industries |
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On the basis of geographical analysis, the quality amine, non-amine chemicals, and formulations market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific industry is likely to dominate majority revenue share by 2036, owing to growing chemical sector, along with lower cost of raw materials and labor in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of the growing pharmaceutical research in the region, along with the high investment in healthcare sector. Furthermore, the presence of major pharmaceutical companies in the region is bound to surge the demand for amine, and other chemicals to manufacture drugs, which is projected to boost the regional market growth.
April 30, 2020: Koei Chemical Company, Limited to provide raw materials to pharmaceutical companies Gilead Sciences, Inc. and FUJIFILM Toyama Chemical Co., Ltd.
September 29, 2021: Nouryon, a global specialty chemicals manufacturer, to start production at its new facility in China, aiming to support polymer demand in Asia for the packaging, paint and coatings and construction end-markets.
Author Credits: Rajrani Baghel
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