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Global Fatty Amines Market was Valued at US$ 3.04 Bn in 2019 and it is Expected to Reach More than US$ 4.76 Bn by 2028, Likely to Grow with the CAGR of 5.1% During the Forecast Period.
Fatty amines can be defined as the nitrogen-based derivatives of fatty acids or olefins and are derived from raw materials such as fats, oils, petrochemicals, and other similar raw materials. The various application of fatty amine in numerous end-user industries is solely dependent on its cationic nature.
Increasing utilization from a number of applicable industries anticipated to Drive the demand for Fatty Amines
The market growth is mainly influenced by the end-use industries. Fatty amines have found their applications in various end-user industries including Anti-caking, mining, water treatment, personal care, oilfield chemicals, agro-chemicals, chemical processing, asphalt additives, personal care, paints & coatings, household, and building construction. The High levels of demand from agrochemicals application due to the benefits of fatty amines as emulsifiers this factor is expected to propel the growth of the market.
Additionally. Significantly increased the level of competitiveness due to the rising number of companies in the market and more focus on R&D activities, the development of improved product varieties, and cost-based competition anticipated to propel the market.
However, the availability of environment-friendly cost-effective alternatives along with the unavailability of fatty amines is expected to act as a restraint to the growth of the market.
The Agrochemicals Segment Is Expected To Dominate the Fatty Amines Market During The Forecast Period
Agrochemicals end-use segment is the largest product segment, accounting for over 20.0% of global revenue share in 2019 and is projected to lead the market during the forecast period in terms of both, value and volume. The growth of this segment can be attributed to the increase in the global demand for agriculture products owing to the rise in demand for nutritious and high-quality food and the limited availability of arable land and constantly growing population, particularly in developing countries. Fatty amines find major applications as ingredients in the agrochemicals along with other amines. Thus, the increase in demand for agro-products and agro-chemicals will continue to drive the demand for fatty amines across the globe.
The tertiary fatty amines segment Is Expected to Witness Highest Growth in the Global Fatty Amines Market across the Globe
The tertiary fatty amines segment is projected to grow at the highest rate in the Fatty Amines market during the forecast period owing to of being used as a fundamental raw material for the production of secondary and tertiary amines, which is expected to fuel the development of this product type in the coming years. Secondary and tertiary fatty amines are derived from primary amines due to this it is very essential in different verticals. The growth in this market is mainly attributed to the wide-ranging applications of tertiary amines as the most significant raw material to manufacture amphoteric, cationic, and non-cationic surfactants including oxides and quaternary ammonium compounds. It can also be used as anticaking agents of fertilizers, soil stabilizers, pigment stabilizers, paint intensifiers, and floatation agents for minerals.
The Market in Asia Pacific region Expected To Dominate the Fatty Amines Market Over the Forecast Period
The Asia Pacific region is projected to lead the fatty amines market over the forecast period terms of both, value and volume and is anticipated to hold above xx % over the forecast period and is expected to grow at a significant rate.
The demand for fatty amines is increasing in the Asia Pacific owing to the rising focus of the governments of countries like India, China, Japan, and Thailand on wastewater treatment infrastructure. In addition, the factors, such as growing usage of fatty amines in the agrochemical sector, growing demand for personal care & beauty products are driving the demand for fatty amines in the region. Moreover, an increase in manufacturing bases to Asia-Pacific, owing to favorable petrochemical amendments and regulations and ease in the availability of raw materials. This scenario is likely to further boost the market in the Asia-Pacific region during the forecast period.
While, The North America is the second-largest regional segment as the market in this region has the presence of the most number of detergent and surfactant manufacturers that are significantly contributing towards the growth. The key players are more inclined towards incorporating innovative products to capture the untapped potentials, which is further expected to propel the growth.
Some of the key players in the global Fatty Amines market are India Glycols Ltd, Indo Amines, Qida Chemical Co., Ltd., Shandong Dafeng Biotechnology Co., Ltd., Temix International S.R.L., Global Amines Company Pte. Ltd., Huntsman International LLC, Solvay S.A., Volant-Chem Group, KLK OLEO, AkzoNobel N.V., Evonik Industries, Ecogreen Oleochemicals GmbH, and Kao Corporation.
Fatty Amines Market Key Segments:
Fatty Amines Market, By Product
Fatty Amines Market, By Application
- Oilfield Chemicals
- Asphalt Additives
- Corrosion Inhibitor
- Water Treatment/Softener
- Chemical Synthesis
- Personal Care
Fatty Amines Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America