Fatty Amines Market Trends
Growth Drivers
- Strong demand from diverse industries - The global market for fatty amines is anticipated to be primarily compelled by the burgeoning demand for agrochemicals and asphalt additives, worldwide. Also, the rapidly thriving water treatment chemicals industry is propelling the demand for fatty amines. The rising global population, followed by the growing demand for agricultural products, will contribute to the demand for agrochemicals based on fatty amines. Asia, North America, and South America accounted for 40%, 25%, and 22% share in the overall pesticide and other agricultural chemicals market.
- Rising Technological Advancement - Further, technological advancements and growth in novel applications will be another imperative factor raising significant demand from the verticals, such as mining, fabric conditioning, paints & coatings, and detergents, over the foreseeable future. In 2022, the United States was regarded as the largest tech market in the world.
- Growing Demand for Water Treatment Chemicals – Water is found diversely in various parts of the world. Not all water is good for drinking use, therefore, wastewater treatment is a crucial part. Water treatment chemicals and fatty amines are widely used in wastewater treatment. Based on end use, the water treatment segment is expected to hold a revenue of USD 2 billion by the end of 2037.
- Increasing Use of Personal Care and Cosmetic Products – As per the sources, the personal care and beauty industry generated a market revenue of USD 100 million in 2021.
Challenges
- Availability of Alternatives - The availability of economical alternatives that are relatively environment-friendly, uncertain raw material pricing and fluctuating availability of fatty amines, and the presence of stringent government regulations concerning the hazardous impact of these compounds restricting their usage, are the key factors that might hamper the growth of the overall fatty amines market in the forecast period.
- Strict Government Regulations
Harmful Side Effects of Fatty Amines
Fatty Amines Market: Key Insights
The fatty amines market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, end-use, function, and region. Among product types, the tertiary fatty amines segment is estimated to hold the biggest market share during the forecast period, both in terms of value and volume. This growth is attributed to the usage of tertiary fatty amines and their derivatives in wide-ranging applications such as fabric softeners, surfactants, drilling muds, asphalt emulsifiers, and disinfectants or bactericides. The primary fatty amines are likely to witness the fastest growth due to its quality of being used as a basic raw material to yield secondary and tertiary amines.
Based on the function, the emulsifiers segment is projected to lead the market owing to its benefits which makes it desirable in various end-use industries such as agrochemicals, chemical processing, personal care, and household.
Growth Drivers
Strong demand from diverse industries
The global market for fatty amines is anticipated to be primarily compelled by the burgeoning demand for agrochemicals and asphalt-additives, worldwide. Also, the rapidly thriving water treatment chemicals industry is propelling the demand for fatty amines. The rising global population, followed by the growing demand for agricultural products, will contribute to the demand for agrochemicals based on fatty amines.CLICK TO DOWNLOAD SAMPLE REPORT
Further, technological advancements and growth in novel applications will be another imperative factor raising significant demand from the verticals, such as mining, fabric conditioning, paints & coatings, and detergents, over the foreseeable future.
Restraints
Availability of economical alternatives that are relatively environment-friendly, uncertain raw material pricing and fluctuating availability of fatty amines, and presence of stringent government regulations concerning the hazardous impact of these compounds restricting its usage, are the key factors that might hamper the growth of the overall fatty amines market in the forecast period.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.1% |
|
Base Year Market Size (2024) |
USD 3.35 billion |
|
Forecast Year Market Size (2037) |
USD 6.4 billion |
|
Regional Scope |
|
