Methylamines Market to Witness a Pronounce Growth During 2017-2027
Methylamine is a colorless gas produced by reacting methanol with ammonia in presence of certain catalysts. Monomethylamine, dimethylamine and trimethylamine are amongst the major product types of methylamines. Major application segment for methylamines include agriculture, electronics, pharmaceuticals and resin among others. Agriculture is the largest application segment for methylamines in terms of market share and the trend is expected to continue during the forecast period.
Methylamines are employed in the production of several agricultural chemicals mainly pesticides. Growth in agricultural segment has been a major factor driving growth for methylamine market. Increasing demand for pharmaceutical products is also among the major driver for global methylamine demand. Methylamines are extremely flammable and hazardous to the environment which has been a major factor restraining market growth. Increasing research and development activities to increase the application scope of methylamine is expected to offer huge growth opportunity for the market.
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North America dominates the global methylamines market in terms of consumption. Demand for methylamine in North America and Europe is anticipated to grow at a sluggish rate mainly owing to the introduction and implementation of increasing regulations. Asia Pacific is the second largest market for methylamines and is anticipated to be the fastest growing region during the forecast period. Demand in Asia Pacific is driven by growing demand from the emerging economies of India and China. Pharmaceutical application segment is expected to drive demand for methylamines in Asia Pacific. Increasing demand from Latin America and Africa is expected to drive market growth in the RoW region.
Some of the players in the methylamine market include Air Products and Chemicals Inc., Alkyl Amines Chemicals Ltd, Daicel Chemical Industries Ltd, Huntsman International LLC, Mitsubishi Gas Chemical Company Inc., E. I. Du Pont De Nemours and Company and Daicel Chemical Industries Ltd among others.
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