Albany, NY -- (SBWIRE) -- 02/05/2019 -- The global market for fatty amines, the nitrogen-based derivatives of olefins or fatty acids is treading along a steady growth path and is expected to witness an upward growth trajectory over the next few years as well. Vast set of applications across a number of industries, including an important role in the production of a variety of cosmetic formulations are expected to help the market gain significant traction in the near future.
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Demand from the thriving cosmetic industry will play a key role in the overall development of the global fatty amines market as will the constant focus of companies in the market on finding new applications for their products. The rising demand for increasing the yield of agricultural products to sustain the needs of the mounting global population is also serving well towards the development of the global fatty amines market as fatty amines are used as ingredients in the production of a number of agro-chemicals.
Owing to the vast growth opportunities, the market has witnessed a vast rise in the number of companies serving domestic, regional, and international consumers. The rising number of companies in the market has significantly increased the level of competitiveness and will lead to more focus on R&D activities, the development of improved product varieties, and cost-based competition. This report on the global fatty amines market presents a thorough overview of the present scope of growth and future prospects of the market and its segments.
Fatty amines can be defined as the nitrogen based derivatives of fatty acids or olefins and are derived from the raw materials such as fats, oils, petrochemicals, and other similar raw materials. They consist of either a mix of carbon chains or single chain with the carbon number ranging from 8 to 22. Commercially important members of fatty amines include oleylamine, soya amine, tallow amine, and coco amine. The various application of fatty amine in numerous end user industries are solely dependent on its cationic nature. Fatty amines have found their applications in various end user industries including corrosion inhibition, organology, sanitization, fabric softening, and lubricant additives. Anti-caking, mining, water treatment, personal care, oilfield chemicals, paints and coatings, and agro-chemicals are a few of the most prominent applications, which demand fatty amines. They are the basis for variety of cosmetic formulations, also they are used as fabric softeners and froth floatation agents. The market for fatty amines can be segmented on the basis of type into primary fatty amines, secondary fatty amines, and tertiary fatty amines. Based on application, the market for fatty amines has been segregated into agro chemicals, asphalt additives, oilfield chemicals, water treatment, anti-caking, and others.
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The market for fatty amines is anticipated to witness significant growth owing to the growth of various end user industries. Development of novel applications and technological innovation is an important factor raising significant demand from the verticals, such as fabric conditioning, mining, detergents, and paint & coatings, during the forecast period. Increasing population coupled with increasing demand for agriculture products are factors that will foster the demand for afro chemicals based on fatty amines over the years. Emerging economies such as China, India, and Brazil are anticipated to be the key market for fatty amines. In terms of type, tertiary fatty amines segment held significant share of the market in 2016, this trend is likely to continue during the forecast period. Whereas in terms of revenue primary fatty amines will register strong growth owing to their increasing usage in paints & coatings industry. In terms of application, agro chemicals and water treatment continue to be major segments of fatty amines market in 2016. Fatty amines find major applications as ingredients in the agro-chemicals along with other amines. Hence, as the demand for agri-products and agro-chemicals will continue to increase, it will continue to drive the demand for fatty amines across the globe. Asphalt additive segment is foreseen to witness strong growth during the forecast period as they are widely used in paints & coatings industry. Thus growth of paints & coatings industry will boost the growth for fatty amines market over the years.
Geographically, Asia Pacific held significant share of the market in 2016 and is anticipated to witness strong growth during the forecast period. Presence of robust automotive manufacturing industry is the prime factor driving the growth of fatty amines market. Moreover agricultural dependence of this region will boost the demand for agricultural products that will inadvertently propel the demand for fatty amine based agricultural products in this region. Easy availability of raw materials coupled with presence of cheap labor is tending the market leaders to shift their manufacturing facilities in emerging economies of Asia Pacific such as India and China. Asia Pacific was followed by North America in terms of value in 2016. Increment in oil & gas exploration and production activity is the factor boosting the demand for fatty amines in the region of North America.