The market for China amines is expected to grow at a CAGR of more than 4.5% globally during the forecast period. The increasing demand for personal care products and accelerating demand from the pharmaceutical industry has been driving the market growth.
– However, the strict compliance in china with respect to environmental concerns and lowering of export subsidies, easy availability of economical and eco-friendly alternatives and the outbreak of COVID-19 disease across the globe are likely to hinder the growth of the studied market.
– The occurrence of heterocyclic amines in commercial fast-food meat products and boosting hydrogen production by primary amines is expected to drive the demand for the market during the forecast period are likely to provide opportunities for the China amines market over the next five years.
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Key Market Trends
Personal Care Products to dominate the market
– Personal care is one of the major end-users for amines. Primary aromatic amines (PAAs) are used as ingredients, in a variety of products in the personal care segment, such as foaming agents, dispersants, emulsifiers, solubilizing agents, cleansers, and conditioners, among others.
– Some of the majorly used amines in this sector include Triethanolamine (TEA) and Monoethanolamine (MEA).
– China has become the largest consumer, as well as one of the largest producers of amines. The production has reached such high levels that it has become a major hub for exporting cosmetics and personal care products to developed nations, such as the United States, the United Kingdom, and Spain.
– According to the National Bureau of Statistics of China, the retail sales of cosmetics and personal care products in 2019, China, is 299.22 billion Yuan which is around 14.24% higher than the previous year.
– Amines are widely utilized in disinfectant concentrate or disinfectant as a virucide in hand sanitizer. The outbreak of diseases has driven consumers to take up various preventive measures, such as the increased use of hand sanitizers which is expected to enhance the demand for amines over the forecast period.
– The above-mentioned factors are anticipated to drive the demand for personal care products during the forecast period.
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