Fatty Amines Market Overview
Fatty amines are nitrogen-based by-products of fatty acids or olefins resultant from the raw materials such as petrochemicals, fats, and oils. Fatty amines enclose either a mix of carbon chains or a single chain with several carbons ranging from C8-C22. They are being used in many applications such as water treatment, agro-chemicals, oilfield chemicals, asphalt additives, anti-caking, mining, personal care, fabric softener, paints & coatings, and many others.
Market Size and Forecast
The fatty amines market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, end-use, function, and region. Among product types, the tertiary fatty amines segment is estimated to hold the biggest market share during the forecast period, both in terms of value and volume. This growth is attributed to the usage of tertiary fatty amines and their derivatives in wide-ranging applications such as fabric softeners, surfactants, drilling muds, asphalt emulsifiers, and disinfectants or bactericides. The primary fatty amines are likely to witness the fastest growth due to its quality of being used as a basic raw material to yield secondary and tertiary amines.
Based on the function, the emulsifiers segment is projected to lead the market owing to its benefits which makes it desirable in various end-use industries such as agrochemicals, chemical processing, personal care, and household.
Strong demand from diverse industries
The global market for fatty amines is anticipated to be primarily compelled by the burgeoning demand for agrochemicals and asphalt-additives, worldwide. Also, the rapidly thriving water treatment chemicals industry is propelling the demand for fatty amines. The rising global population, followed by the growing demand for agricultural products, will contribute to the demand for agrochemicals based on fatty amines.CLICK TO DOWNLOAD SAMPLE REPORT
Further, technological advancements and growth in novel applications will be another imperative factor raising significant demand from the verticals, such as mining, fabric conditioning, paints & coatings, and detergents, over the foreseeable future.
Availability of economical alternatives that are relatively environment-friendly, uncertain raw material pricing and fluctuating availability of fatty amines, and presence of stringent government regulations concerning the hazardous impact of these compounds restricting its usage, are the key factors that might hamper the growth of the overall fatty amines market in the forecast period.
Our in-depth analysis of the fatty amines market includes the following segments:
Geographically, the fatty amines market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America and Europe are estimated to register stable growth in the global fatty amines market over the forecast period. North American markets have the presence of a vast number of detergent and surfactant manufacturers that are meaningfully contributing towards the growth. The key companies are more inclined towards incorporating innovative products to seize the untapped potentials, which is further expected to steer the growth.
Furthermore, the U.S. market is projected to observe steady growth as a result of high demand for tertiary amines, which is utilized in various end-use products.
The Asia-Pacific region is expected to witness the leading share of the global fatty amines market in the foreseeable forecast period owing to the rapidly increasing consumption of fatty amines in countries such as China, India, and South Korea for various end-user segments, such as agrochemicals, personal care products, among others. The growth is also attributed to increasing automotive production in China, Indonesia, Malaysia, and Mexico, which is anticipated to cause an increase in the use of paints and coatings, which is further projected to boost the demand for fatty amines during the forecast period.
Furthermore, low production cost, labor cost, and lenient rules in these regions are inspiring manufacturers to grow their manufacturing units in these regions, which is expected to drive the demand for fatty amines.
Rising expenditure on constructions in the emerging markets of the Asia Pacific and the Middle East, owing to population growth coupled with strong economic development, is projected to positively move the demand for fatty amines during the forecast period.
The fatty amines market is further classified based on region as follows:
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