The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Fatty Amines Market.
It was estimated prior to this unanticipated outbreak that the Fatty Amines Market was expected to grow at a CAGR of 6.7% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Fatty Amines are nitrogen byproducts of alcohol, olefins, or unsaturated fats which are obtained from natural sources such as (fats and oils) or petrochemical raw materials. On the basis of type, fatty amines can be classified into primary, secondary, and tertiary. Fatty amines can also be classified on the basis of function type into emulsifiers, floatation agents, anti-caking agents, dispersants, corrosion inhibitors, chemical intermediates, and others. Fatty amines are used in a wide array of industries such as agrochemicals, oilfield chemicals, chemical processing, water treatment, asphalt additives, personal care, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as primary, secondary, and tertiary amines. The primary amine segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Tertiary amine is expected to witness the highest growth during the forecast period. Increasing range of applications of tertiary amine is the major factor behind its extraordinary growth. Some of the key applications of tertiary amines are fabric softeners, surfactants, drilling muds, asphalt emulsifiers, and disinfectants/bactericides.
Based on the end-use industry type, the fatty amines market is segmented as agrochemicals, oilfield chemicals, chemical processing, water treatment, asphalt additives, personal care, and others. The agrochemicals segment held the largest share of the market and is also expected to witness a healthy growth during the forecast period. Growing demand for increased productivity from the agriculture industry and rising food supply sustainability concerns are the major factors driving the dominance and growth of the agrochemicals segment.
In terms of regions, Asia-Pacific is estimated to be the largest and the fastest-growing market for fatty amines during the forecast period. Increasing focus of key economies such as China, Japan, and Thailand towards wastewater treatment infrastructure, along with increasing demand for fatty amines from personal care, beauty care, and agrochemicals is driving the growth of the region’s market. North America and Europe are also expected to offer lucrative opportunities in the global fatty amines market during the forecast period.
Some of the major Fatty Amines manufacturers are-