Amine Catalyst Market to Witness an Outstanding Growth by 2021-2031

 

COVID-19 Impact on Global Amine Catalyst Market

• On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
• Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
• The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. Also, the spread of coronavirus has led to a fall in demand for chemical intermediates due to uncertainty in the global economy and capital markets.
• The growth of the amine catalyst market has been hampered due to the COVID-19 pandemic and nationwide lockdown of several non-essential activities and manufacturing facilities. However, the market is anticipated to expand at a healthy pace during the forecast period due to the acceptance of new normal conditions and restart of various end-use industries in various countries.

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Key Drivers and Restraints of Amine Catalyst Market

• Demand for amine catalyst is expected to increase at a significant pace during the forecast period as increase in automotive production leads to a rise in demand for amine materials. This is particularly due to their requirement in seat covers of vehicles, since they protect the leather from UV radiation and high temperatures. Amine is also used as coatings for various interior and exterior applications in the automotive industry. Additionally, increase in demand for lightweight vehicles has boosted automotive production, thus driving the demand for amine in the automotive sector.
• The market for amine catalyst has been expanding due to its multiple automotive applications
• However, offensive fish-like odor and high volatility are negatively affecting the amine catalyst market

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Amine Catalyst Market: Application Segment

• Based on application, the amine catalyst market can be divided into foam, adhesive and sealants, coating, elastomer, and others
• Among them, the foam segment dominates the amine catalyst market
• Tertiary amines, either alone or in combination with tin octoate, are most widely used catalysts in the manufacture of polyurethane foams.
• Foams are used in applications such as mattresses, furniture, and construction insulation, amongst other uses, while rigid foams are primarily used as insulating materials in refrigerators. Amine-based coatings consume a fairly large proportion of the amine by volume globally, as they are generally used as additives in paints, varnishes, and finishing coats to protect and seal wood. Their strong resistance to water, high humidity, extreme temperatures, and fungus make amine-based paints an ideal coating material for many wooden products. Strong demand for amine foams across the globe is expected to drive the amine catalyst market durng the forecast period.

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Asia Pacific to Hold Leading Share of Global Amine Catalyst Market

• In terms of region, the amine catalyst market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Asia Pacific is expected to hold major share of the global amine catalyst market, followed by North America and Europe, during the forecast period
• Asia Pacific is also the manufacturing and export hub for many products globally
• India and China alone manufacture approximately 50% of the world’s cars, and in turn, consume approximately 50% of the amine catalyst used for automobiles globally. Growth of the property market has also boosted furniture, mattress, and insulation industries, all of which rely heavily on amine as a key raw material.

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Key Manufacturers Operating in Global Amine Catalyst Market

The amine catalyst market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the amine catalyst market include:

• BASF SE
• Clariant
• Covestro AG
• Elé Corporation
• Evonik
• Huntsman International LLC
• Kao Corporation
• Momentive Performance Materials Inc.

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Amine Catalyst Market: Research Scope

Amine Catalyst Market, by Product Type

• Reactive Amine Catalyst
• Non-reactive Amine Catalyst

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