Fatty Amides Market by Type (Erucamide, Behenamide, Oleamide, Others), Product Form (Bead and Powder), Function (Anti-block, Slip Agent, Release Agents), End-use industry (Film processing, Rubber, Ink, Others), and Region - Global Forecast to 2022
Northbrook, IL, United States -- (SBWIRE) -- 04/02/2018 -- The market is witnessing considerable growth due to technological advancements in the manufacturing process and the growing packaging industry where fatty amides are used on a large scale as slip agents, anti-fogging agents, and lubricant for food & beverage packaging. The growing demand for organic additives over petrochemical additives has played a crucial role in the development of fatty amides.
The slip agents segment is projected to grow at the highest CAGR during the forecast period. The growing demand for fatty amides as slip agents is attributed to factors such as slip additives being highly preferred to reduce friction in polyolefin film while processing. The growing packaging industry in developing economies of Asia Pacific eventually drives the demand for fatty amides as slip agents.
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Film processing is projected to grow at a higher rate during the forecast period.
The film processing segment is projected to be the fastest-growing end-use industry over the next five years. The demand for fatty amides is influenced by the demand for polyolefin films from the packaging and food & beverage industries. The plastic and film processing industry is well-established in Europe and North America; however, the market is in the matured stage in these regions. Significant growth has been witnessed in emerging markets such as India, China, Brazil, and Japan.
Asia Pacific fatty amides market constituted the largest share in 2016 and is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific fatty amides market is projected to grow at the highest CAGR from 2017 to 2022. The market in China is expected to grow at the highest CAGR within this region during the forecast period. The growth in the Asia Pacific region is supported by improving economic conditions, increasing disposable income and positive demographic outlooks such as the increasing population and rising per capita income in the region. In these emerging markets, there is high demand from the packaging and manufacturing industries, which in turn generates demand for fatty amides.
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The major players in the fatty amides market include Croda International (UK), Kuala Lumpur Kepong Berhad (Malaysia), Italmatch Chemicals (Italy), PMC Biogenix (US), Kao Corporation (Japan), Fine Organics (India), Nippon Fine Chemical (Japan), Haihang Industry (China), Mitsubishi Chemical (Japan), and BASF (Germany).
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