Alkylamines Market Trends

Global Alkylamines Market Overview

According to MRFR analysis, the Alkylamines Market is expected to reach around USD 9,453.2 Million by 2030. with a CAGR of 5.9%

Alkylamines are a versatile family of chemical synthesis compounds. Alkylamines are ammonia derivative compounds with one or more hydrogen atoms replaced by alkyl groups. Amines are classified according to the number of carbon atoms bonded directly to the nitrogen atom. A primary (1°) amine has one alkyl (or aryl) group on the nitrogen atom, a secondary (2°) amine has two, and a tertiary (3°) amine has three. The alkyl groups are referred to as substituents, while the NH4+ ion is the parent species. The common names for simple aliphatic amines consist of an alphabetic list of alkyl groups attached to the nitrogen atom, followed by the suffix -amine.

Alkylamines are being increasingly used in various applications, including solvents, insecticides, feed additives, rubber processing chemicals, and water treatment chemicals, which arepropelling the market forward. The market is expanding due to the increasing usage of alkylamines in manufacturing awide range of solvents. Furthermore, the rising use of C1-C6 alkylamines as pesticides in the agrochemical sector is propellingthe market growth. Growing usage of solvents in the manufacturing of spandex, polyurethane elastomers, and polyimide films, on the other hand, are contributing to market expansion.

Moreover, the growing demand for alkylamines in wastewater treatment is boosting the alkylamines market. Alkylamine is an effective surfactant that can act as a biocide due to itsability to kill microorganisms. When used in water, alkylaminesimprove the biocidal activity of chlorinated phenolic. Alkylamines improve water quality while also acting as corrosion inhibitors due to theiroxygen scavenging property. The rising amount of wastewater discharged into rivers, which poses health, environmental, and climate-related risks,aredriving up demand for water treatment plants. The development of wastewater treatment plants in both developed and developing regions, on the other side, encourages market growth.For instance, in 2019, the South African Government has released a grant of USD 24 million to construct multiple wastewater treatment plants in the province of Mpumalanga.Thus, development in wastewater treatment activities across the globe promotes market growth.

However, the detrimental effects of alkylamine and high maintenance costs will likelyhinder the global Alkylamines market. Nevertheless, factors such as government investments and advancement in manufacturing technologiesarelikely to create lucrative opportunities for market growth in the forecast period. Surging innovation in the pharmaceutical industry is projected to open up new growth potential for leading market players.

October 2023

The share price of Alkyl Amines Chemicals grew by around one percent during the early trading session on October 19th. This action was taken as a reaction to the fact that the company had started commercial production at the facility that it had only recently created. As of 9:29 hours, the share price of Alkyl Amines Chemicals was trading at Rs 2,267.55 on the Bombay Stock Exchange (BSE). This represents an increase of Rs 20.05, which is equivalent to 0.89 percent overall. In a statement that was released by the corporation, it was said that "the newly established plant at our existing Kurkumbh site, Maharashtra for the purpose of enhancing manufacturing capacity of Ethyl Amines has successfully commenced commercial production on October 2023."

It is planned that the board of directors of the company will come together on November 2023, in order to consider the potential of accepting the unaudited financial accounts for the quarter and half year that ended on September 2023. This meeting is scheduled to take place.

The company posted a net profit of Rs 49.77 crore for the quarter ending in June, which represented a decline of 39 percent when compared to the previous year's figures.

Both the share's 52-week high of Rs 3,061.00 and its 52-week low of Rs 2,119.05 were hit on November 4, 2022 and March 2023, respectively. The share reached its 52-week high on November 4, 2022. As of the conclusion of the 52-week period, the share price was Rs 2,119.05.

Covid Impact Analysis

The outbreak of COVID-19 has had a negative impact on alkylamines production due to the disruption in the supply chain across the globe. This is because of the restrictions on travel and face-to-face meetings coupled with lockdown and curfews to limit the spread of the coronavirus. The pandemic affects operations of different industries, including agriculture, oil and gas, construction, packaging, and others. Because Alkylamines are widely employed in various industries, the decline in their operations directly impacts market growth.

Producers are planning to increase alkylamine prices for end-users to sustain themselves in the market. The majority of raw materials suppliers in this market had to shut down their operating facilities due to the outbreak of COVID-19. The shutdown of various raw material producers and alkylamines manufacturers havereporteda decline in global consumption. Considering the situation, many companies have halted their production facilities across the globe. Some other companies, which are still working, are operating at only 40-60% efficiency. However, these companies have begun operations again.

Manufacturers in this market have decreased their production capacities owing to the decline in demand from the end-use industries, reduced prices, and disruptions in the supply of raw materials. Key players in the market have witnessed a decline in revenue in the fiscal year 2020 compared to 2019. The manufacturers are taking a toll due to reduced demand for products and have announced reduced capital for their prospects. In addition to this, the imposition of various fiscal and monetary policies across the globe to limit the damage caused by COVID -19 by the governments and managements is expected to result in certain relief.

Market USP

Stringent government policies

Market Drivers

• Growing wastewater treatment plants globally


• High demand foralkylamines in solvent applications


• Increasingdemand foralkylamines in the paints and coatings industry


• Surging consumption of Alkylamines in the agrochemical sectors

Market Restraints

• Detrimental effects of alkylamine and high maintenance cost


• Fluctuating prices for raw materials

Segmentation

By Type

• Methylamines: Methylamine is an organic compound with a formula of CH₃NH₂. It is an ammonia derivative in which one hydrogen atom is replaced with a methyl group. It is the simplest primary amine. Methylamine is widely used in various applications, including agricultural chemicals, paint industries, water treatment chemicals, pharmaceuticals, and corrosion inhibitors.


• Ethylamine:Ethylamine is an organic compound with a formula of CH3CH2NH2. It is an ammonia derivative in which two hydrogen atom is replaced with an ethyl group. It is the secondary amine. Ethylamine is widely used in various applications, including fuel tanning, synthetic agent, corrosion inhibitor, and deflocculating agent.


• Propylamines: Propylamine is an organic compound with a formula of CH₃(CH₂)₂NH₂. It is widely used in various applications, including textile resins, pharmaceuticals, pesticides, and other chemicals. This segment is projected to witness the highest CAGR during the forecast period.


• Butylamines:Butylamine is an organic compound with the formula CH₃(CH₂)₃NH₂. It is used as an ingredient in the manufacture of pesticides (such as thiocarbazides), pharmaceuticals, and emulsifiers. It is also a precursor for the manufacture of N,N′-dibutylthiourea, a rubber vulcanization accelerator, and n-butylbenzenesulfonamide, a plasticizer of nylon.


• Cyclohexylamines:Cyclohexylamines is an organic compound with a formula of C6H13 It is a clear, colorless to yellow liquid with a strong, fishy odor. It is used as a corrosion inhibitor for boiler feed water and in the production of other chemicals and insecticides.


• Others:The otherssegment include alkylaminessuch as diphenylamine, aziridine, N-methylpiperidine, and N-phenylpiperidine.

By Application

• Solvents: The solvent segment held the largest market share of over 30% in the global market. It is widely used in the manufacturing of versatile solvents such as dimethyl acetamide, dimethyl formamide, hexamethyl formamide used in acrylic fiber, pharmaceuticals, and other industries.


• Agrochemicals:Alkylamines like monomethlamine, propylamines, dimethylamines, triethylamine, and cyclohexylamines, amongst others are used as an ingredient in the production of pesticides, weedicide, herbicide, and insecticides. It is also used as an intermediate or catalytic agent.


• Rubber Processing: Alkylamines are widely used in the production of rubber processing chemicals such as stabilizers, antiozonant, accelerator, and preservative agent. Some of the common Alkylamines include monomethylamine, dimethylamine, diethylamine, monoisopropylamine, and dicyclohexylamine.


• Water Treatment:Alkylamine is an effective surfactant that can act as a biocide due to itsability to kill microorganisms. Alkylamines also enhance the biocidal effect of chlorinated phenolic when they are applied in water. Alkylamines improve the water quality and act as resistanceto corrosion due to theirproperty of oxygen scavenging.


• Pharmaceuticals:Alkylamines are used in the production of anesthetics, tranquilizers, antihistamine, amoxicillin, ampicillin, antimalarials, and disinfectants, amongst others. This segment is expected to witness significant growth in the coming period.


• Others:The others segment include paper chemicals, food and feed additives, textile, dyes, propellants, and emulsifying agents.

By Region

• Asia-Pacific:Asia-Pacific accounted for the largest market share and is projected to witness the fastestgrowth in the market. This is mainly attributed to the rapid growth of exports, growing water treatment activities and surfactants, and the vastpresence of key producers in the region.


• Europe:Europe recorded a significant growth in the global market based on consumption. The demand is mainly driven by stringent government regulations, rehabilitation of wastewater treatment plants, and the presence of large-scale end-use industries.


• North America:North America accounted for the second-largest market share in the global marketdue to large production bases of alkylamines globally and advanced manufacturing technologies.


• Middle East & Africa:The demand for alkylamines is rising owing to increased demand from agrochemicals, solvents, and wastewater treatment plants.


• Latin America: The Latin American market is projected to witness notable demand for alkylamines due to low manufacturing costs, an upsurge in consumers' purchasing power, and a rise in agricultural production, especially in Brazil and Argentina.

Key Players

• BASF SE


• Alkylamines Chemicals Ltd.


• Arkema


• Dow Inc.


• Feicheng Acid Chemicals Co. Ltd.


• Koei Chemical Company


• Luxi Chemical Group Co., Ltd.


• Mitsubishi Gas Chemical Company


• Eastman Chemical Co.


• Balaji Amines

Key Developments

Major players in the alkylamines market are adopting strategies such as technology launches, acquisitions, and R&D activities. Some of the major key developments in the global Alkylamines market include:

• June 2021 : Eastman has entered a long-term agreement with One Rock Capital Partners to sell its rubber additives along with other product ranges and associated assets for around USD 800m. this segment features technology platforms in alkylamine derivatives, propylene derivatives, polyester polymers, cellulose esters, hydrocarbon resins, insoluble sulphur and more. These plastics and chemicals are developed for a variety of products in industries including consumables, personal and home care, transportation, animal nutrition, building and construction, energy, crop protection, among others.


• In November2019, Alkylamines Chemicals Limited announced to sell Company's 29,77,996 equity shares representing a 30.44% stake in Diamines and Chemicals Limited (Diamines)company.


• In November 2019, Eastman Chemical Co., a leading producer of alkylamines announced to increase the capacity for Alkylamines to meet growing global demand from various end markets such as home and personal care, water treatment, and animal nutrition.