Benzylamine Market to be at Forefront by 2026

Benzylamine is an organic compound colorless liquid with strong odor of ammonia. Benzylamine is also found in apple. It consists of benzyl group attached to an amine functional group. Benzylamine is a common precursor in organic synthesis. It is found in a plant called Moringa oleifera, which is used to treat diabetes in traditional medicine. Benzylamine has the boiling point of 185°C. It can be produced by reaction between benzyl chloride and ammonia. Benzylamine has strong alkaline properties. It is totally soluble in water. Benzylamine is miscible in ethanol, diethyl ether, and acetone. Benzylamine is a masked source of ammonia. It is also called as N-benzylamine, monobenzylamine, benzene methanamine, phenyl methylamine, or aminotoluene. Benzylamine is considered a versatile intermediate for a variety of applications. 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. The wide range of applications in various end-user industries such as pharmaceutical, chemical, agrochemicals, paints & coatings, textile, and animal health drives the demand for benzylamine.

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Benzylamine Market: Segmentation

Based on end-user industry, the benzylamine market can be segmented into pharmaceutical, agrochemicals, paints & coatings, textile, chemical, and others. The paints & coatings segment can be sub-segmented into industrial coatings and transportation coatings. The chemical segment is expected to hold a prominent market share 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. Benzylamine is used as a building block for chemical synthesis; for example, in the production of active pharmaceutical ingredients (APIs). In the 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 change in trend toward use of biopesticides led by environmental constraints is a major factor responsible for the anticipated decline in the market share held by the agrochemicals segment.

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Based on region, the global benzylamine market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of demand, Asia Pacific expected to hold a major share of the global benzylamine market in 2017 and the same trend is likely to continue during the forecast period. The market in Asia Pacific is projected to expand at a significant growth rate 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. 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.

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Benzylamine Market: Key Players

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 Lanxess, Eastman Chemical Company, BASF AG, KOEI CHEMICAL Co., Ltd., and Shandong Yuexing Chemical Co., Ltd.

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