The Tertiary Amines Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Tertiary Amines Global Market Report 2024, The tertiary amines market size has grown strongly in recent years. It will grow from $4.98 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to chemical manufacturing demand, growing construction sector, surfactant and water treatment applications, expanding pharmaceutical industry, consumer goods production.
The tertiary amines market size is expected to see strong growth in the next few years. It will grow to $7.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to infrastructure development, increasing water treatment needs, pharmaceutical manufacturing growth, innovation in surfactant production, environmentally friendly formulations. Major trends in the forecast period include utilization of tertiary amines in gas treatment processes, application of tertiary amines in polyurethane catalysts, shift towards tertiary amines as additives in lubricant formulations, development of tertiary amines for agricultural chemicals, adoption of tertiary amines in the textile and leather industries.
The rising demand for personal care products is expected to people the growth of the tertiary amines market going forward. Personal care products refer to an item that is intended for cleaning, grooming, boosting attractiveness, or altering the physical appearance. Tertiary amines including Triethanolamine (TEA) are used in personal care products such as skin lotions, creams, cosmetics, moisturizers, eye gels, and shaving foams as pH adjusters and surfactants. For instance, in March 2022, according to a Cosmetics Europe study, a Belgium-based trade association for the cosmetics and personal care industry, it has been found that 72% of European customers see personal care products as very important in their daily lives and an average consumer uses over 7 different cosmetics and personal care products daily. Therefore, the rising demand for personal care products across the globe is driving the demand for the tertiary amines market.
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The tertiary amines market covered in this report is segmented –
1) By Product: C-8 TA, C-10 TA, C-12 TA, C-14 TA, C-16 TA, Other Products
2) By Application: Surfactants, Biocides, Floatation Agents, Corrosion Inhibitors, Emulsifier, Drilling Material, Other Applications
3) By End-User: Cleaning Products, Agricultural Chemicals, Personal Care, Petroleum Industry, Water Treatment, Plastics, Pharmaceuticals, Textiles and Fibers, Other End-Users
Major companies operating in the tertiary amines market are building new tertiary amine production plants to drive the revenues in the market. The primary objective behind this strategic move is to cater to the increasing demand for sterilizing/cleaning applications and a wide range of other industrial applications. For instance, in February 2022, Kao Corporation, a Japan-based chemical company made the decision to construct a new tertiary amine production plant in Pasadena, Texas, United States. This involves a unique catalyst technology, that aims to leverage its superior quality tertiary amines to meet the growing market needs. The company’s expansion into the U.S. market is a testament to its commitment to strengthening its supply chain efficiency, reducing CO2 emissions, and minimizing its ecological footprint. The new production plant, scheduled to commence operations in January 2025, is anticipated to play a pivotal role in enhancing Kao’s presence in the U.S. market, which is expected to witness mid- to long-term growth.
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