Fatty amines are nitrogen-based derivatives of fatty acids/olefins derived from raw materials such as petrochemicals, fats, and oils. Fatty amines contain either a mix of carbon chains or single chain with a number of carbons ranging from 8-22. They find usage in many applications such as water treatment, agrochemicals, oilfield chemicals, asphalt additives, anti-caking, and others, which include mining, personal care, fabric softeners, paints & coatings, and many more.
Globally, the fatty amines market is projected to grow at a fast pace, driven by rising end-use industry demand across the globe. However, the growth rate in Asia Pacific, especially East Asia, is expected to be significant over the coming years, owing flourishing end-use industries due to favorable regional government policies in the region.
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As per Persistence Market Research analysis, the global fatty amines market is projected to top a market value of US$ 3 Bn in 2031, expanding at a CAGR of around 4% during the forecast period of 2021-2031.
Key Takeaways from Fatty Amines Market Study
- In terms of regional growth, Asia Pacific is expected to hold more than one-third of market value share, and is expected to dominate over the coming assessment period.
- Tertiary fatty amines are experiencing significant growth in the global market, owing to increasing applications in end-use industries. The segment is expected to create 1.1X incremental $ opportunity than primary fatty amines.
- Demand from agrochemicals to strengthen the agriculture sector is expected to increase over the coming years.
- Increasing water scarcity and high cost to treat water are expected to create more challenges among end-use industries in the coming future. Key players are focusing on the use of fatty amines in water treatment processes to reduce costs.
- Owing to COVID-19 impact across the globe, in 2020, key players reduced their production capacity utilization by around 70% owing to non-availability of raw materials and delays in port clearances due to limited availability of transportation in the supply chain network. However, they have ramped up production capacities from the last quarter of 2020 with the easing of restrictions.
- The fatty amines market in China is expected to expand at a healthy CAGR of 5% through 2031.
- Demand for fatty amines in Germany is projected to increase at a CAGR of around 4% from 2021 to 2031.
- The global fatty amines market grew at 1.5% in 2020 due to the pandemic, but growth is 2021 is expected to get back close to 4%.
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“Demand from specialty chemicals has been proven to be the crux of product utilization. With existing and new variants of new specialty chemicals being tailored to meet requirements from end-use industries, such as construction chemicals, water treatment, refinery chemicals, personal care products, etc., fatty amines will continue to exist as a key ingredient in the formulation of these downstream end products,” says a Persistence Market Research analyst.
Market Landscape Continues to Remain Moderately Fragmented
Key manufacturers in the fatty amines market such as Akzo Nobel N.V., Evonik Industries AG, Kao Corporation, Clariant AG, Arkema S.A, Solvay S.A, E.I. du Pont de Nemours & Co, Albemarle Corporation, Procter & Gamble Company, and Lonza Group Ltd are focused on strengthening their product portfolios and expanding their market footprints through the acquisition of smaller companies in the market.
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