The market for fatty amines market is expected to grow at a CAGR of greater than 4% during the forecast period. The major factor driving the growth of the market studied is the growing demand for fatty amines as emulsifiers in agrochemicals. On the flipside, easy availability of economical and eco-friendly alternatives is likely to hinder the growth of the market studied.
Key Market Trends
Soaring Demand from Water Treatment Segment
- Fatty amines are nitrogen derivatives of fatty acids, olefins, or alcohols, prepared from natural sources, fats, and oils, or petrochemical raw materials. The commercially available fatty amines are prepared by either distillation of fatty acids or when fatty alcohols are reacted with ammonia or primary, secondary amines.
- Water treatment industry is the dominant end-user industry for the use of fatty amines, accounting for more than one-fifth of the total global market share of fatty amines.
- One of the major factors driving the market is the high demand for fatty amines as a water softener, corrosion inhibitor, and scale dispersant.
- Various industrial plants, refineries, and manufacturing industries, use fatty amines for wastewater treatment, which has led to their increasing demand in the water treatment industry.
- There has been a considerable stress on water supplies over the past few years, owing to increase in global population, the growing need for clean water in industrial applications and the impact of climate change, which has led to the scarcity of water across the world and thus mandating the need for water treatment activities.
- Such factors in turn are boosting the demand for fatty amines.
Asia-Pacific to Dominate the Market
- Asia-Pacific region dominated the market during the forecast period primarily due to the increasing demand from the agriculture and water treatment sector.
- China, India, and Japan are the major contributors to the increasing demand for fatty amines across the region as well as the globe.
- Increasing water treatment activities across the region primarily from power generation and oil & gas activities are propelling the market demand.
- Furthermore, agriculture is the backbone of many countries in Asia-Pacific and the demand for treated water is continuously increasing.
- This scenario is expected to continue during the forecast period and act as a great boosting factor for the market studied.
The fatty amines market is partially consolidated among the few players. Key players in the market include Evonik Industries AG, Huntsman International LLC, Nouryon, and Solvay, among others.
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