Global Fatty Amines Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The market for fatty amines is expected to register a significant growth during the forecast period, 2018 to 2023.This tremendous growth is significantly driven by the growing demand for fatty amines as emulsifiers in agrochemicals.
Demand for Fatty Amines as Emulsifiers in Agrochemicals
Fatty amines are known to improve the efficiency of agrochemicals, which enhance the plant’s growth by acting as activator adjuvants (emulsifier). Recently, there has been huge growth in the consumption of agrochemicals due to increased pressure on dwindling farmlands, as a result of growing population and urbanization. The growing use of agrochemicals was expected to considerably boost the demand for fatty amines, with fatty amine ethoxylates being one of the core chemicals in the agriculture sector. More specifically, the agrochemical sector in Asia-Pacific is hugely favoring the market growth for fatty amines in agrochemical applications.
Water Treatment Application Segment to Dominate the Market
Among the applications, water treatment application is the largest market for fatty amines, with more than 20% share of the global market. One of the major factors driving the market is the high demand for fatty amines as a water softener. Various industrial plants, refineries, and manufacturing industries, use fatty amines for waste water treatment, which has contributed to the increasing demand for fatty amines in the water treatment industry. The shifting focus toward the usage of green chemicals and the increasing adoption rate in Asia-Pacific and Middle East are expected to offer numerous opportunities for the growth of the global water treatment chemicals market, which, in turn, is expected to boost the demand for fatty amines in the near future.
Asia-Pacific to Ignite the Market Growth
In 2017, Asia-Pacific accounted the largest regional market for fatty amines. Factors, such as growing usage of fatty amines in the agrochemical sector in Asia-Pacific, is favoring the market growth. High growth rate has been expected in countries, like India, as the demand for fatty amines in soaps and detergents industry has amplified. Manufactures are intending to shift their manufacturing bases to Asia-Pacific, owing to favorable petrochemical amendments and regulations and ease in the availability of raw materials. This scenario is likely to further boost the market share of Asia-Pacific during the forecast period.
Key Developments in the Market
August 2017: The household care business line of Evonik Corporation increased the price of ADOGEN and VARIQUAT fatty amines, quaternaries, and VARONIC by USD 0.23/kg.
Major Players: AkzoNobel N.V., Ecogreen Oleochemicals GmbH, Evonik Industries, Global Amines Company Pte. Ltd, and Huntsman International LLC, amongst others.
Reasons to Purchase the Report
Identify the current and future trends of the global fatty amines market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Information of the segment that is expected to dominate the market
Identify the region that is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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