Henceforth, companies are projected to focus in technological advancements through R&D efforts that would
decrease the amines prices and could potentially reduce the demand supply gap over the next eight years.
Automobile production growth in Malaysia, China, Mexico and Indonesia is another important factor anticipated
to propel the application of paints and coatings, thus boosting the amines market over the next eight years.
Product Insights
Amines comprises of various products such as chlorpromazine, amitriptyline, imipramine, lofepramine,
clomipramine, and ethanolamine which are used to relieve allergic disorder, anxiety, excitement, mental
disorder, and restlessness. It constitutes few other products such as desipramine, nortriptyline, and amoxapine
that are considered very significant tricyclic anti-depressants. The aforementioned products application in
pharmaceutical industry is anticipated to fuel the market growth over the forecast period. Ethanolamine is
projected to account for more than 50% market share by 2024 primarily owing to its rising use as a corrosion
inhibitor in matching fluids, lubricants, and cooling systems for automotive & marine industrial applications. It
is also used as a cleaning agent in the form of triethanolamine and monoethanolamine thus anticipating the
market growth to propel by 2024
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Application Insights
Crop protection is the key amine application in the agricultural industry that is expected to drive the market
growth over the forecast period. The market also has various applications in pharmaceutical industry in making
medicines. However, the increasing applications of bio-based products and rising stringent environmental
regulations regarding water pollution are projected to challenge the amines market by 2024. Growing amine
application in FMCG industry is also anticipated to bolster the market growth over the forecast period.
Regional Insights
Asia-Pacific is projected to witness fastest growth over the forecast period owing to growing demand from
agricultural industry, rising economic development, and increasing R&D endeavors in producing quality amines.
India, China, Indonesia, and Malaysia are anticipated to account for major market share in the region primarily
due to growing government initiatives for sustainable development. North America and Europe are expected to
see considerable growth over the next eight years owing to growing demand for amines in end-use industries
and rising awareness of its varied applications. Particularly the US, Germany, France, the UK, and Italy are