The global fatty amines market size is expected to reach USD 4.9 billion by 2025
NEW YORK, Aug. 26, 2019 /PRNewswire/ -- Fatty Amines Market Size, Share & Trends Analysis Report By Product (Primary, Secondary, Tertiary), By Application (Agrochemicals, Oilfield Chemicals, Personal Care), And Segment Forecasts, 2019 - 2025
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The global fatty amines market size is expected to reach USD 4.9 billion by 2025. It is anticipated to register a CAGR of 5.0% during the forecast period. Rising consumption of personal care and household products and agricultural commodities is anticipated to propel the product demand. Increasing disposable income, product innovation, and high market penetration are some of the factor anticipated to contribute to the rising demand for fatty amines.
The market growth is majorly influenced by the end-use industries. The U.S. fatty amines market in water treatment chemicals application is expected to hold the largest market share due to the rising awareness regarding recycling and reusing polluted water because of water scarcity in the region.
In 2016, Evonik acquired the units of Air Products Performance Materials business to reinforce its position for lucrative growth in the specialty additives market. This strategic acquisition has helped the company to uphold its foremost position in the high-margin market for specialty additives globally.
Most of the fatty amines these days are also derived from castor oil as the demand for biodegradable and sustainable products. Rising efforts to decrease dependence on petrochemicals is likely to remain a significant dynamic for the global castor oil and derivatives industry.
Further key findings from the report suggest:
• Water treatments products consumed the largest market share in terms of volume in 2018, owing to the acceptance in corrosion inhibitors, biocides, and disinfectants industries
• Monitoring support is anticipated to have a positive influence on growth of the fatty amines market due to the regulation that controls environmental hazards related to petrochemicals and conservative sources acting in the approval of castor oil and derivatives market
• The key regional players such as China, Japan, and India have surged their production capacities to support the accelerating customer demand, driving the market growth
• Palm is the most widely chosen vegetable oil across the globe due to the high content of oil and the low prices among other oils including coconut and rapeseed
• Volatile prices of raw materials have a direct effect on the production of various oleochemicals, particularly fatty amines, wherein the global oleochemicals industry is oversupplied and hence manufacturers get very fewer returns on it
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