Research Nester published a report titled “Quality Amine and Non-Amine Chemicals and Formulations Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global quality amine and non-amine chemicals and formulations market in terms of market segmentation by product type, application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global quality amine and non-amine chemicals and formulations market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2031. The market is segmented by application into medicines, water treatment, azo-dyes, pesticides, and others, out of which, the medicines segment is anticipated to hold the notable market share over the forecast period, on account of the increasing demand for development of new drugs, followed by the rising prevalence of various communicable and non-communicable diseases. Along with this, the rising demand for analgesics, which require amines for production, and increasing investment in the healthcare sector are anticipated to encourage the segment growth.
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The global quality amine and non-amine chemicals and formulations market is anticipated to grow on the back of the increasing demand for amine chemical and formulations for application in various sectors. The growing use of amine and non-amine formulations for manufacturing medicines, dyes, pesticides, and disinfectants, is estimated to primarily drive the market growth. In addition to this, the surge in the demand for agrochemicals, backed by increasing demand for food crops, is anticipated to propel the market growth. For instance, it was noticed that agrochemicals production reached 285 million metric ton by volume in 2019.
On the basis of geographical analysis, the global quality amine and 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 the Asia Pacific region is projected to witness a modest growth in the market over the forecast period. This can be attributed to the growing chemical sector in the region, backed by the lower cost of raw materials and labor in the APAC region. For instance, according to the data by the India Brand Equity Foundation (IBEF), the national chemicals industry generated a revenue of USD 178 billion in 2019. Moreover, the increasing adoption of chemical in agriculture, is further expected to fuel the regional market growth.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Demand for Agrochemicals to Primarily Fuel the Market Growth
Amines and non-amine chemicals are majorly used to manufacture pesticides and other agrochemicals, owing to their basic nature. The growing demand for agrochemicals in the agriculture sector, accompanies by the growth in the agriculture sector are anticipated to boost the market growth. Moreover, pressure on the sector to increase crop yield is bound to raise the demand for pesticides, which, in turn, will influence the market growth.
However, rising circulation for generic chemicals is expected to operate as key restraint to the growth of global quality amine and non-amine chemicals and formulations market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global quality amine and non-amine chemicals and formulations market which includes company profiling of KOEI Chemical Co., Ltd., Alkyl Amines Chemicals Ltd., Nouryon Chemicals Holding B.V., Eastman Chemical Company, Volant Chem Corp., Evonik Industries AG, Huntsman Corporation, Hexion Inc., and LUXI GROUP. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global quality amine and non-amine chemicals and formulations market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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