Market Challenges And Opportunities

Global Amines Market: Restraints

Fluctuating prices of raw materials of amines

The growing use of bio-based products for agriculture chemicals and products is expected to act as a restraining factor for the global amines market. Price volatility of raw materials used in the manufacture of amines and their derivatives is expected to hinder the growth of the global amines market. In the chemical raw materials market, the price of ammonia is on the rise, directly impacting the overall price of amines.

Market Opportunity

Rapidly increasing Pharmaceutical industry

The growing demand for amines from the pharmaceutical industry for manufacturing of pain killers is expected to offer immense growth opportunities for the global amines market. Morphine and Demerol are mainly used as analgesics. The growing geriatric population coupled with the rising prevalence of various chronic diseases is fueling demand for healthcare needs. Thus, the growth of the pharmaceutical industry is escalating the global amines market growth.

The rise in the personal care industry where amines are used in the manufacturing of toiletries, skincare, hair care, cosmetics, and fragrances are projected to offer lucrative market growth opportunities. Changes in lifestyle are increasing the spending power of consumers on personal care and hygiene products. Moreover, the emergence of online channels is further increasing the sale of personal care products, thereby augmenting the global amines market growth.