April 24, 2020
As per the report titled ‘Global Fatty Amines Market Size study, by Type (Primary, Secondary and Tertiary), by Function (Emulsifiers, Floatation Agents, Anti-caking agents, Dispersants and Others), by End Use (Agrochemical, Oilfield chemical, Chemical processing, Water treatment and Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global fatty amines market was worth USD 2.72 billion in 2018 and is projected to expand with 6.45% CAGR during 2019-2026.
Any amine that is attached to the hydrocarbon chain of eight or more carbon atoms is termed as a fatty amine. These compounds are categorized as oleochemicals and are commonly derived from C12-18 hydrocarbon and are largely extracted from fatty acids.
Wide ranging applications of fatty amines as corrosion inhibitor, fabric softener, and froth flotation agents are stimulating the growth of fatty amines industry. The non-ionic and special surface wetting properties of fatty amines make them highly preferable in manufacturing of various sanitizers, detergents and deforming agents as well as cosmetics.
According to Statista, global cosmetic Industry grew by 5.5% over 2017-2018. The United States accounted for majority share in cosmetics industry reaching a valuation of USD 93.5 billion in 2018 from USD 74.7 billion in 2017. Hence, rapid expansion of cosmetics industry will continue to foster the growth of global fatty amines market in the forthcoming years.
The demand for fatty amines in agrochemicals and chemical processing industries is expected to escalate during the forecast period, owing to substantial application of fatty amine ethoxylate in manufacturing of many emulsifier brands. It enhances the mixing process of various chemicals and agrochemicals as it increases the solubility in oil and water-based chemicals.
Moreover, shifting preference for bio-based coating additives in end-use industries to avoid harmful effects of chemical on health and environment will present new growth opportunities over the forecast duration. However, complexities associated with the production of fatty amines may hinder the market growth.
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Considering the geographical outlook, global fatty amines market is divided into Asia Pacific, North America, Europe, Latin America and rest of the world. Asia Pacific fatty amines market is slated to see prominent gains in the coming years, owing to rapid growth of agriculture and agrochemical industry in the region. Rising demand for cosmetics and beauty products are complementing the growth of fatty amines industry in Asia Pacific.
Key players in fatty amines industry include Arkema S.A., ERCA SPA, Ecogreen Oleochemicals GmbH, Global Amines Company Pte. LTD., Evonik Industries AG, India Glycols Limited, Huntsman Corporation, KAO Corporation, Lonza Group LTD, and Indo Amines Limited.