Benzylamine is a chemical organic compound with the abridged structural formula C6H5CH2NH2. Benzylamine comprises of a C6H5CH2, benzyl group, bonded to an amine functional group, NH2. Benzylamine is a collective precursor in organic synthesis and used in the industrial production of numerous pharmaceuticals. Benzylamine is a primary alkylamine and valuable intermediate for several applications and a building block for chemical synthesis such as crop protection agents, and the production of active Pharma Ingredients which is used within the coatings industry. Benzylamine is also used as a disguised source of ammonia, and a sub component of Benzylamine that is isoquinolines are a class of compounds which are used in medical frameworks.
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Benzylamine Market: Drivers & Restraints
The major factors driving the growth of benzylamine market is growing demand of Benzylamine in wide range of application such as manufacturing paints and lacquers, pesticide, fertilizer, pharmaceuticals, and others. Moreover, growing chemical industry results to development of new technology for the manufacturing of benzylamine to meet its demand across the globe.
Demand of benzylamine is rising, as benzylamine is versatile valuable intermediate for various applications and intermediate and building block in a variety of end-user industry like for the production of active pharma ingredients (APIs) and crop protection agents. In addition benzylamine is used as a masked source of ammonia, meanwhile after N-alkylation, the benzyl group can be seprated by hydrogenolysis. Therefore, it is also major source for the derivation of other chemical compound. On the other hand, the major factor restraining the growth of benzylamine market are government regulation and its strong reactional property.
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Benzylamine Market: Regional Outlook
Regarding geography, Benzylamine market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Benzylamine market is expected to register healthy CAGR during the forecast period. Asia-Pacific represents the significantly high market share and grow with comparatively high CAGR in forecast period. North America is experiencing the rapid increase in the production capacity of Benzylamine as demand for Benzylamine for wide range of end-user in the region is rising at faster pace.
Key factors driving the growth of Benzylamine oil market in the region include growing chemical industry, increasing infrastructure across the globe as demand of benzylamine in paints and lacquers is booming at faster pace. The benzylamine market is projected to register healthy growth due rising consumption Benzylamine in various industry for production of their end user products such as in pharmaceutical for manufacturing medicine. Benzylamine market for Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the growth of chemical industry, and increasing production of the product type especially in China and India. In China, demand of benzylamine is booming due to its usage as raw materials of solvent, alkyl alkanolamines, and ingredients of rocket fuels.
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Benzylamine Market: Key Players
Some of the key players identified in the Benzylaminemarket are:-
- BASF AG
- Huntsman Corporation
- Dow Chemical Company
- Eastman Chemical Company
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