North America Amines Market Size Is Expected To Reach USD 4.02 Billion by 2025
The North America amines market size is expected to reach USD 4.02 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 7.7% during the forecast period. Increasing surfactant demand, coupled with rising need for crop protection chemicals in North America, are key factors driving market growth.
Fluctuating raw material cost for amines production has been putting a squeeze on margins primarily in U.S. Availability of raw materials and price is a key factor used by amines manufacturers to determine the cost of their product. Raw materials used for amines manufacturing include ammonia and ethylene oxide. Raw materials used in the production of amines are petroleum-based byproducts and thus vulnerable to fluctuations in commodity prices.
Rising demand for bio-surfactants in developed countries of North America, on account of regulatory pressure to reduce dependence on their synthetic equivalents, is expected to create new growth opportunities for industry participants. Growing consumer awareness will also play a key role in market development. Governments in these regions been promoting the use of bio-surfactants, which also promotes industry participants to increase production.
U.S. was the largest crop protection chemicals market in 2016, and this trend is expected to continue over the forecast period. Rapidly increasing awareness regarding health and health safety, increasing population, necessity for higher crop yield, and reduced arable land is expected to drive market demand over the forecast period. Rising awareness among consumers regarding harmful effects of synthetic agrochemicals is also expected to drive product demand.
Rising demand for cosmetic products in Mexico and Canada is expected to drive overall market growth over the next few years. A thriving hair care industry in the region, on account of soaring demand for styling agents, is anticipated to boost market growth over the forecast period. Presence of major cosmetic manufacturers in the market, including L’Oréal, Avon, Proctor & Gamble, Elizabeth Arden, Johnson & Johnson, Estee Lauder, and Mary Kay, is expected to have a positive impact on the amines market over the forecast period.
Further key findings from the report suggest:
- In terms of volume, demand for ethanolamines in North America is anticipated to reach 797.2 kilotons by 2025, at a CAGR of 3.0% from 2017 to 2025
- In terms of revenue, the fatty amines segment is projected to ascend at a CAGR of 8.5% over the forecast period
- The crop protection application dominated the North America amines market in terms of revenue with a share of 29.5% in 2016
- The U.S. amines market is anticipated to exceed 1,192.5 kilotons by 2025
- The market for amines is highly competitive with presence of a number of multinational companies. Some of the key companies present in the market are Arkema S.A., AkzoNobel N.V., BASF SE, SABIC, Dow Chemical Company., Huntsman Corporation, Mitsubishi Gas Chemical Co., Taminco Corporation, Celanese Corporation., and Sinopec Corp.
Grand View Research has segmented the North America amines market on the basis of product, application, and country.
Amines Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Fatty amines
Amines Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Crop protection
- Water treatment
- Personal care
- Gas treatment
Amines Country Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)