Trimethylamine Market - Forecast(2024 - 2030)

Overview

Trimethylamine Market size is forecast to reach $XX million by 2025, after growing at a CAGR of 4.95% during 2020-2025. The Trimethylamine market is driven by increasing government and animal welfare organization's with initiatives and investments. The growing oil & gas sector is likely to act as a catalyst for the growth of the industry. Further, it enhances the overall market demand for Trimethylamine during the forecast period.The report covers Trimethylamine Market size by type and applications, Trimethylamine Market share by top 5 companies and also the market share by start-ups during the forecast period.

Report Coverage

The “Trimethylamine Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Trimethylamine Industry.

Key Takeaways

·          Increased oil & gas exploration and private & public investment in animal welfare activities are expected to drive the global trimethylamine market over the forecast period.

·    Trimethylamine is a nitrogenous base and can be readily protonated to give Trimethylammonium action. Trimethylammonium chloride is a hygroscopic colorless solid prepared from hydrochloric acid. Trimethylamine is a good nucleophile and this reaction is the basis of most of its applications product like decomposition of plants and animals.

·         Recently, Seventure Partners, one of the European leaders in innovation financing and a world leader in animal nutrition promoting development in life science the microbiome has launched a new investment fund. All of these factors increase the poultry industry's growth, leading to increased animal feed consumption. It, in addition, will increase demand over the forecast period for Trimethylamine.

Type - Segment Analysis

Because of its applications in the synthesis of chlorine derivatives such as choline chloride and chlormequat chloride, the aqueous solution form of trimethylamine is expected to hold a significant share of the market.

Application - Segment Analysis

Choline Chloride sector has been the primary market for Trimethylamine by growing at a CAGR of 5.66%. Trimethylamine is used in choline chloride production that is used as a vitamin in animal feed and human development, oil & gas exploration, lubricants, and greases, etc. Choline chloride is used primarily as poultry feed. With rising customer incomes consuming more protein-coupled with growing population and urbanization, demand for poultry meat and eggs is rising dramatically. Poultry is a key factor in the growth of poultry for smallholders and poor people, both in rural and urban areas. Global poultry production was 111,000,000 metric tons in 2015 and is expected to reach 131,255,000 metric tons in 2025, according to the Poultry Hub Organization. With the growing demand for poultry meat coupled with the country's growing poverty, the poultry industry is growing significantly. During drilling and shale stimulation, choline chloride is also used in the clay stabilizer. As the number of oil & gas exploration activities around the world rise, demand for choline chloride is also likely to rise. It, in turn, will increase demand over the forecast period for Trimethylamine.

Geography - Segment Analysis

With more than 28.9 percent, APAC dominated the Trimethylamine market, followed by North America and Europe. Due to the growing population and rising health concerns for people in countries like China, India, and Japan, the demand for poultry in the region is growing significantly. India after China and the USA is the world's third-largest producer of eggs and the fourth-largest producer of chicken after China, Brazil and the USA. With the growing demand for protein food in the country, the need for poultry production is rising. The volume of poultry meat production and consumption has increased significantly in the country. The level of production increased by 3.27% in 2017, and the amount of consumption by 3.32% over 2016. Increasing rising exploration activities and investments in the country's oil & gas industry, demand for clay stabilizers is likely to rise in exploration activities.  Vedanta Limited recently said it is investing $2.3 billion in its oil and gas activities in order to boost the reserve base by about 375 million barrels. All the aforementioned factors, in turn, will boost the demand for Trimethylamine in the Asia-Pacific region during the forecast period.

Drivers – Trimethylamine Market

Increasing Initiatives and Investments by Government and Animal Welfare Associations

On November 27, 2018, Poultry India's global exhibition will present the show's 12th Anniversary Edition in Hyderabad City, India. The exhibition introduces the most innovative and reputable companies from the poultry sector across the continent to demonstrate their industry and connect with potential partners, consumers and investors. The event will provide important poultry industry data including poultry food and animal health information. The National Livestock Mission, an initiative launched in 2014-15 by the Indian Ministry of Agriculture and Farmers Welfare, was designed to sustain the livestock sector. NABARD is an Entrepreneurship Development & Employment Generation (EDEG) subsidy channeling agency of the National Livestock Mission in India, focusing on the Poultry Venture Capital Fund, Pig Development, Integrated Development of Small Ruminants and Rabbits, etc.

Challenges – Trimethylamine Market                                                          

Several health concerns

According to the Health and Senior Services Department of New Jersey, Trimethylamine may affect you when you are breathed in (lung coughing or shortness of breath) and may also irritate and burn your skin and eyes. This is a highly flammable liquid gas and a dangerous fire hazard. The growth of the market may be restricted due to several health issues.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Trimethylamine Market. In 2018, the market of Trimethylamine has been consolidated by the top five players accounting for xx% of the share. Major players in the Trimethylamine Market are Balaji Amines, BASF SE, Celanese Corporation, DowDuPont, Eastman Chemical Company, Mitsubishi Gas Chemical Company, Inc., and The Chemours Company, among others.