The market is expected to generate an incremental $ opportunity of US$ 1,915.4 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00224 Format: PDF Pages: 300
Fatty Amines Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Fatty Amines Market was worth US$ 2,972.1 Mn and is expected to grow at a CAGR of 5.1% over the forecast period. The market is expected to hit US$ 4,887.5 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 4.2%, the market underwent significant growth.
Demand for fatty amine derivatives is anticipated to climb throughout the projected period due to increased manufacturing of cleaning, emulsifying, scouring, and wetting agents for lubricants, personal care, and home care products.
THE INCREASING DEMAND FOR COSMETICS WILL BOOST MARKET
The demand for fatty amines is expected to grow due to cosmetic and personal care products, which use these compounds in their manufacturing process. Primary amines such as lauryl amine are used most commonly in these products. These products show similarities with organic oils and esters, further increasing the market’s potential.
Government-led initiatives for economic diversification will also spur growth in this sector; they encourage manufacturers to use renewable sources such as vegetable oils, esters, plant-derived esters, and compounded fragrance oils. It can improve the use of bio-based products, driving demand for organo-cosmetic products, which will benefit the entire market.
HIGH RAW MATERIAL PRICE AFFECTS THE MARKET GROWTH
The chemical commodities market has seen an upswing in ammonia prices. The price of ammonia has been volatile in recent years, which is indicative of the importance of this raw material for producing fatty amines. It has had a major impact on the overall production costs of fatty amines and their derivatives. Worldwide large amounts of ammonia are used for the production of fatty amines, and an increment in the pricing of this commodity will increase the prices of products made from fatty amines.
THE GROWING DEMAND FOR WATER TREATMENT CREATES OPPORTUNITIES
Over the forecast period, growing demand for fatty amines as corrosion inhibitors, biocides, and disinfectants in water treatment products is expected to create opportunities for manufacturers of these products. Some of these applications include their use in construction materials such as asphalt pavers and road surfacing materials; in other industries such as agrochemicals, paints and coatings, oilfield chemicals, cosmetics, personal care products, and others.
Over the past few years, hazardous chemicals have become an increasing concern in water treatment due to their widespread usage in diverse industries such as agriculture, food, textile, etc. These chemicals have resulted in an increased amount of water pollution. Water treatment chemicals are being produced using fatty amines to address this issue.
Market Segments Covered in Report
By Product Type:
By Basis of function:
By Region and Country:
Why are Tertiary Fatty Amines projected to have the highest growth over the projected period?
The tertiary fatty amines market has risen significantly in demand from developed and developing economies owing to the product’s wide-ranging abilities. Furthermore, the U.S. market is anticipated to witness steady growth due to the high demand for tertiary fatty amines utilized in various end-use products. These products are used in multiple applications in the fatty amine industry, including flotation agents, anticaking agents, and corrosion inhibitors.
They are also used for cationic surfactants (purchased by consumer goods companies), anti-static agents (used in electronics and aerospace applications), asphalt emulsifiers (used in road building), corrosion inhibitors (used in steel manufacturing), releasing agents (used for deodorization and disinfection), personal care products such as tallow amines and moisturizers.
Why is the Agrochemicals segment expected to grow the most rapidly forecast period?
Agrochemicals are plant-protection chemicals produced through chemical or biochemical processes that include the active component in a certain concentration. Fatty amines are largely used as anticaking agents owing to their water-repellent characteristics. In recent years, the need for agrochemicals in agriculture and food has increased due to reduced arable land. The demand for agrochemicals is rising to increase crop yield and get maximum production from limited land.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Major manufacturers are buying up other small-scale market participants to increase their yearly turnover and fortify their market position internationally. Market participants are concentrating on merger and expansion operations to meet the expanding demand and remain competitive.
Some of the key developments that have taken place in the Fatty Amines Market include:
A list of some of the key suppliers present in the market are:
Global Fatty Amines Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Basis of function, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|