Dominant player in the Indian amines industry The Indian aliphatic amines industry is largely a duopoly with Balaji Amines (BAL) and Alkyl Amines Chemicals comprising more than 90% of the market. Yet, the product portfolio of these two companies within the industry is varied with each being dominant in specific chemicals. This has made the industry structure appear closer to being a monopoly for each of the players with the key competition being, only imports. BAL manufactures amines (methyl amines and ethyl amines) and their derivatives, speciality chemicals and pharma excipients. Overall, the company has a portfolio of over 25 products, which are supplied to domestic and foreign players (exports accounted for around 21% of the total sales in...