Polyamines Market to Reach US$ 200 Mn by 2020 End, Finds Fact.MR

DUBLIN 2, Ireland - Sept. 9, 2020 - PRLog -- The global polyamines market is expected to hit a valuation of US$ 200 Mn by the end of 2020, and is likely to witness a moderate growth rate by the end of the forecast period in 2030. A report by Fact.MR says that the ongoing global pandemic is likely to have a severe impact on the market, largely owing to suspension of production facilities, and disruptions to supply chains and logistics. The market will recover steadily owing to extensive applications in agriculture, healthcare, water treatment, and oil sectors.

"Putrescine, spermidine, and spermine polyamines have found roles in a number of botanical functions including root development, seed germination, in vitro plant regeneration, plant architecture, plant senescence, and flowering, which will sustain demand in agriculture for the foreseeable future," says the FACT.MR report.

Polyamines Market- Key Takeaways

• Aromatic polyamines are anticipated to display strong growth, owing to the discovery of niche applications in the food industry.
• Cosmetic and personal care applications are gaining traction, driven by consumer bias for natural botanical formulations.
• Asia Pacific is projected to display a higher growth rate, primarily driven by major production facilities in India and China.

Read Report- https://www.factmr.com/report/4786/polyamines-market

Polyamines Market- Driving Factors

• Significant investments into research to widen the scope of applications for polyamines is a primary growth factor.
• Niche applications of polyamine analogues in cancer therapies will generate lucrative opportunities for market growth.

Polyamines Market- Major Restraints

• Potential risk of allergies in food products comprising polyamine ingredients hinders application.
• Potential health risks in applications for potable water treatment, and associated regulatory restrictions hinder market growth.

COVID-19 Impact on Polyamines Market

The coronavirus pandemic is negatively impacting the polyamine market. The reduction in oil prices during the crisis has restricted demand for polyamine compounds. Manufacturers have been forced to reduce operational expenses and capital, with labor shortages and disruptions in raw material supplies being disrupted. Labor safety and investments in testing, disinfection, and PPE will be key strategies taken up by polyamide producers in the near term to sustain partial operations. Healthcare and agriculture applications will help manufacturers to survive the pandemic and recover in the months ahead.

Competitive Landscape

Kemira Oyj, Newbury S.A., BASF SE, NCP Chlorochem, SNF Floegler, and Lansen Chemicals are some of the leading polyamine manufacturers in the global market.

PR Source- https://www.factmr.com/media-release/1557/global-polyamin...