According to a recent market study published by Growth Market Reports, titled, “Methylamine Market Segments By Derivatives Type (Monomethylamine (MMA), Dimethylamine (DMA), and Trimethylamine (TMA)), Form (Gas and Liquid), Application (Agro Chemicals, Painting & Coating, Drugs, Animal Nutrients, Fuel Additives, Printed Circuit Boards, Cosmetic Products, Surfactants & Corrosion Inhibitors, Catalysts, and Others), End-use Industry (Agriculture, Electronics, Oil & Gas, Pulp & Paper, Personal Care & Cosmetics, Chemical Industry, Pharmaceuticals, Water Treatment, and Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031“, the market size was USD 1.6 billion in 2022 and is expected to surpass USD 2.3 billion expanding at a CAGR of 4.41% by the end of 2031. The market growth is attributed to the wide usage of methylamine derivatives for producing intermediate products in various industries.
Key Market Players Profiled in the Report
- Alkyl Amines Chemicals Limited
- Balchem Inc.
- Eastman Chemical Company
- BASF SE
- Spectrum Chemical
- Airgas Specialty Products
- Belle Chemical
- Johnson Matthey
- Thermo Fisher Scientific Inc.
- MITSUBISHI GAS CHEMICAL COMPANY, INC.
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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include derivatives type, form, application, end-use industry, and competitor analysis.
This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.
Highlights on the Segments of the Methylamine Market
In terms of region, the global methylamine market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to dominate the market during the assessment period owing to the growing use of methylamine in agrochemicals. The demand for agrochemicals including pesticides, herbicides, insecticides, and fungicides is high in the region to prevent crop damage and increase yield.
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Key Takeaways from the Study:
- Methylamine (CH3NH2) is an organic compound derived from amines. It is majorly found in colorless gas and liquid form. It is derived from ammonia, with one of the hydrogens (H) atoms being replaced by a methyl group.
- Methylamine has applications in the making of different industrial products. Some of the products include agrochemicals, pharmaceuticals, paints, water treatment chemicals, and corrosion inhibitors.
- The rising demand for food production is increasing the need for efficient agriculture, which is a major driver of the methylamine market. For improving crop yields there is growing use of methylamine derivative agrochemicals such as herbicides, fungicides, insecticides, and miticides.
- Increasing demand for methylamine for making high-quality pharmaceuticals that are used for curing chronic infections is another key driver of the market. Common methylamine derivatives used for medications are MMA and DMA, due to their viable properties.
- The increasing technological innovations for expanding production and applications of methylamine are expected to create growth opportunities for the market players. The current technological trends indicate the applications of DMA & TMA for production resins and cationic exchange resins.
- On the basis of derivative types, the global methylamine market is trifurcated into monomethyl amine (MMA), dimethylamine (DMA), and trimethylamine (TMA). The dimethylamine (DMA) segment held the key share of the market in 2022 and is projected to expand at the fastest CAGR during the forecast period.
- Based on the form, the methylamine market is divided into gas and liquid. The gas segment is projected to hold the key share of the market in the coming years owing to its growing use in industrial applications.
- On the basis of the end-use industry, the methylamine market is classified as agriculture, electronics, oil & gas, pulp & paper, personal care & cosmetics, chemical industry, pharmaceuticals, water treatment, and others. The oil & gas segment is projected to grow at a rapid growth rate owing to its high demand for oil & gas treatment.
Read 175 Pages Research Report with Detailed TOC on “Methylamine Market Segments By Derivatives Type (Monomethylamine (MMA), Dimethylamine (DMA), and Trimethylamine (TMA)), Form (Gas and Liquid), Application (Agro Chemicals, Painting & Coating, Drugs, Animal Nutrients, Fuel Additives, Printed Circuit Boards, Cosmetic Products, Surfactants & Corrosion Inhibitors, Catalysts, and Others), End-use Industry (Agriculture, Electronics, Oil & Gas, Pulp & Paper, Personal Care & Cosmetics, Chemical Industry, Pharmaceuticals, Water Treatment, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031”
Key Segments Covered
- Monomethylamine (MMA)
- Dimethylamine (DMA)
- Trimethylamine (TMA)
- Agro Chemicals
- Painting & Coating
- Animal Nutrients
- Fuel Additives
- Printed Circuit Boards
- Cosmetic Products
- Surfactants & Corrosion Inhibitors
- Oil & Gas
- Pulp & Paper
- Personal Care & Cosmetics
- Chemical Industry
- Water Treatment
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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