Transparency Market Research in its new report titled, “Benzylamine Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the benzylamine market. The new report anticipates that the increasing range of applications in various end-user industries such as pharmaceutical, chemical, agrochemicals, paints & coatings, textile, and animal health will drive the benzylamine market during the forecast period i.e, 2018-2026. Benzylamine and its derivatives are used as chemical intermediates in the production of textile auxiliaries, agrochemicals, dye stuff, pigments, amino acids, and other organic compounds, says the report.
The TMR report has segregated the benzylamine market, in terms of end-user industry, into pharmaceutical, agrochemicals, paints & coatings, textile, chemical, and others. Out of these, the paints & coatings segment can be sub-segmented into industrial coatings and transportation coatings. The chemical segment is expected to dominate the market during the forecast period. It is used as a precursor in several chemical synthesis processes that are employed for deriving different chemical compounds. However, the pharmaceutical segment is anticipated to register a significant growth rate during the forecast period. In agriculture industry, benzylamine is used in the production of agrochemicals. However, overall share of benzylamine in agrochemicals is expected to decline during the forecast period owing to changing trend toward the use of biopesticides led by environmental constraints.
In terms of region, the report has segmented the global benzylamine market into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of demand, Asia Pacific expected to dominate the global benzylamine market in 2017, and the same trend is likely to continue during the forecast period. Growth of the pharmaceutical industry (wherein benzylamine is largely used as a precursor in the production of drugs) and growth of end-user industries such as agrochemicals, textile, plastics, and paints & coatings are major factors anticipated to boost the demand for benzylamine in Asia Pacific during the forecast period, according to the report. China and India are expected to hold a major share of the market for benzylamine in APAC during the forecast period. Europe is anticipated to follow Asia Pacific between 2018 and 2026. It would be followed by North America from 2018 to 2026. The market in Latin America and Middle East & Africa is anticipated to register a sluggish growth rate during the forecast period.
A large number of companies operate in the global benzylamine market. Several regional and local traders, distributors, and importers that supply benzylamine to end-users operate in the market. Prominent companies operating in the benzylamine market are included in this report to give a better competitive landscape and these are Lanxess, Eastman Chemical Company, BASF AG, KOEI CHEMICAL Co., Ltd., and Shandong Yuexing Chemical Co., Ltd.
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