[FURL=https://www.industryarc.com/Report/15387/alkyl-amines-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Alkyl Amines Market [/FURL] size is forecast to reach $7,110.2 million by 2026, after growing at a CAGR of 6.2% during 2021-2026. Alkyl Amine is a versatile class of compound used in organic synthesis. The surging uses of alkyl amines across various applications like solvents, pesticides, feed additives, rubber processing chemicals, and water treatment chemicals are driving the growth of alkyl amines market. Increase in the retail sector and prospering e-commerce industry is demanding for more packaging material that is influencing the significance of the Alkyl Amines market. Whereas, the growing consumption of solvents from infrastructure and automotive sector further drives the demand for Alkyl Amines during the forecast period. Furthermore, growing demand of alkyl amines from the agriculture industry as a pesticide is also driving the market growth.Key Takeaways
In the Latin America region, Brazil is the major market for the alkyl amines owing to upsurge in the purchasing power of consumers and rise in corn, wheat, and sugarcane production and consumption across the country further drive the demand for Alkyl Amines.
Stringent government regulations and harmful effects of alkyl amines acts as a hindrance to the overall market growth.
Unstable economic condition, high transportation and maintenance cost of alkyl amines also cause major hindrance to the overall market growth.
Surging innovations in the pharmaceutical application is expected to provide new opportunities to growth of major market participants.
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Alkyl Amines Market Drivers
Growing wastewater treatment plants globally
Alkyl amine is an effective surfactant that can act as biocides due to their ability to kill microorganisms. Alkyl amine also enhance the biocidal effect of chlorinated phenolic when they are applied in water. The use of alkyl amines improves the water quality and also acts as resistant to corrosion due to its property of oxygen scavenging. The growing wastewater discharge into the waterways where it creates health, environmental and climate-related hazards further drive the demand for water treatment plants.
Emergence of COVID-19 the Pandemic
The pandemic is affecting operations of various industries such as agriculture, oil and gas, construction, packaging, and others. As, Alkyl Amines products are extensively used in these industries, the declining operations of these industries is directly affecting Alkyl Amines market growth.
Alkyl Amines Market top 10 companies are Taminco, Eastman Chemical Co., BASF SE, DuPont, Arkema, Luxi Chemical Co., Ltd., Feicheng Acid Chemicals Co. Ltd., Shandong Huala Hengsheng Chemical Co. Ltd., Koei Chemical Company, Mitsubishi Gas Chemical Company, and Alkyl Amines Chemicals Ltd.,
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