Tertiary Amines Market Size to Reach $6.92 Bn by 2030 | The Insight Partners
Tertiary Amines Market Size is expected to grow at a CAGR of 5.6% from 2022 to 2030.
Pune, India, Nov. 10, 2023 (GLOBE NEWSWIRE) — According to our latest study on “Tertiary Amines Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product, Application, and End Use” the tertiary amines market size is expected to grow from US$ 4.47 billion in 2022 to US$ 6.92 billion by 2030; it is estimated to register a CAGR of 5.6% from 2022 to 2030. The report highlights key factors driving the tertiary amines market growth and prominent players along with their developments in the market.
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Tertiary amines are an amine having a trivalent group attached to three hydrocarbon groups in the molecule. They have a wide range of uses and are important products in the modern chemical industry. Tertiary amines are used in agricultural chemicals, pharmaceuticals, textiles, water treatment, cleaning products, personal care, and other applications.
The increasing demand from various end-use industries is driving the market for tertiary amines. They find applications in agricultural chemicals, pharmaceuticals, textiles, water treatment, cleaning products, personal care, and other applications. Tertiary amine derivatives are used in water treatments, oil fields, and personal care. Austria, Luxembourg, Germany, and the Netherlands treat 100% of their urban wastewater as per the Directive’s requirements, as per the data from the EEA. According to the same source, ten additional countries have reached over 90% compliance rate. Currently, Austria invests 36 euros (US$ 36.82) per citizen per year for new collection and treatment infrastructure and the renewal of aging infrastructure. The wastewater treatment facilities in the US process ~34 billion gallons of wastewater every day, according to EPA. Increasing focus on water treatment activities drives the demand for tertiary amines.
Tertiary Amines Market Analysis: Competitive Landscape and Key Developments
A few players operating in the global tertiary amines market include Eastman Chemical Company, Dow Chemical Company, Indo Amines Ltd, Albemarle Corporation, KLK OLEO, Kao Corporation, Arkema S.A, Solvay S.A., Temix Oleo Srl, and BASF SE. Players operating in the market focus on providing high-quality products to fulfill customer demand. Players operating in the market also focus on adopting various strategies, such as investment in research and development activities, new product launches, and capacity expansion in order to stay competitive in the market. For instance, In February 2022, Eastman completed tertiary amine capacity expansions in Ghent (Belgium) and Pace, Florida (the US). The Pace expansion has improved production flow, and the Ghent expansion has led to an increase in capacity. These significant investments show the company’s strong commitment to its home and personal care customers. Moreover, In February 2022, Kao Corporation decided to build a new tertiary amine production plant in Pasadena, Texas, the US. The new plant is expected to meet the growing demand for sterilizing or cleaning applications but also for a wide range of other industrial applications.
The report includes the segmentation of the tertiary amines market as follows:
The global tertiary amines market is segmented on the basis of product, application, and end use. Based on product, the tertiary amines market is segmented into C-8, C-10, C-12, and others. The market is segmented based on application into surfactants, biocides, corrosion inhibitors, and others. The market is segmented based on end use into agricultural chemicals, pharmaceuticals, textiles, water treatment, cleaning products, personal care, and others. By geography, the tertiary amines market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America tertiary amines market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific tertiary amines market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The tertiary amines market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America tertiary amines market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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Impact of COVID-19 Pandemic on Tertiary Amines Market
The COVID-19 pandemic has adversely altered the status of the chemicals & materials sector and negatively affected the tertiary amines market growth. The implementation of measures to combat the spread of the virus has aggravated the situation and negatively impacted the growth of various industries. Various industries have been adversely affected by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. The COVID-19 pandemic has negatively impacted the growth of chemicals, pharmaceuticals, and textiles industries in various countries. The chemicals industry in many regions has faced challenges in terms of the availability of raw materials. The supply networks for raw materials have also been disrupted. There was a successive increase in the prices of raw materials. The pandemic has negatively impacted the demand for tertiary amines products from applications such as agricultural chemicals, pharmaceuticals, textiles, water treatment, cleaning products, personal care, and others. Various industries in Europe were also affected by the pandemic in 2020. In Asia Pacific, the market for tertiary amines was negatively impacted by the pandemic due to the reduced industrial activities in the region.
However, as several countries have resumed their operations, companies from the manufacturing industries are regaining their operations to normalcy. With this, the demand for tertiary amines has risen globally. The increasing demand for tertiary amines from agricultural chemicals, pharmaceuticals, textiles, water treatment, cleaning products, personal care, and others is driving the tertiary amines market growth.
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