New York, NY -- (SBWIRE) -- 09/07/2017 -- The advent of technology and new application development will be a vital factor favoring the market growth. Mining, paints and coatings, fabric conditioning, and detergents, are foreseen to be the major verticals recording notable consumption of fatty acids. Industries associated with the paints and coatings vertical, such as automotive and construction, are foreseen to be among the prominent consumers of fatty amines.

Developing countries in Asia-Pacific will remain the key markets for fatty amines, whereas applications in water treatment and agro-chemical industries will continue to generate significant demand for fatty amines.

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Corrosion inhibition, fabric softening, lubricant additive, organoclaying, and sanitization are some of the most popular applications, which are expected to sustain the demand for fatty acids in a market. A few other prominent applications, including mining, water treatment, personal care, anti-caking, oilfield chemicals, paints and coatings, and agro-chemicals, are also likely to register significant consumption. Rising global population resulting in increasing demand for food products is eventually driving the market for asphalt-additives and agro-chemicals. Similarly, growing need for water treatment will be a major factor propelling the market for water treatment chemicals, and in turn escalating the sales of fatty amines.

The volatility of the prices of raw materials and uncertainty of the fatty amines availability may, however, continue to create unfavorable conditions for the global fatty amines market growth.

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By product type, the global fatty amines market will witness continued dominance by the tertiary fatty amines segment. With the largest market value share of over 47% by 2016 end, this segment may experience a slight decline in its market share post-2016. Primary fatty amines segment, with over 29% revenue share in 2016, is likely to witness a Y-o-Y of 4.9% in 2017 over 2016.

Based on application, water treatment segment is anticipated to lead the global fatty amines market. Agro-chemicals will also be another key segment, followed by asphalt-additives. Oilfield chemicals segment will also remain a notable application segment. Other application segments include anti-caking and others i.e. mining, personal care, and fabric softener.

By region, APAC is likely to remain dominant with nearly 30% market value share in 2016. In 2017, this region will witness moderate Y-o-Y growth of 4.2% over 2016. The next key market is North America that is expected to exhibit a higher Y-o-Y of 6.3% in 2017 over 2016.

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DuPont, Kao Corporation, AkzoNobel N.V., Clariant AG, Evonik Industries AG, Procter & Gamble Chemicals Company, Sigma-Aldrich Corporation, CECA Arkema Group, Lonza, and Volant-Chem Group are some of the leading companies participating in the global fatty amines market.

Long-term Outlook: The global fatty amines market is projected to attain a value of around US$ 2,193.2 Mn by the end of 2020, expanding at a CAGR of 4.1% over 2016-2020.

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