The global market of fatty amines is anticipated to reach a value of US$ 4,724.4 Mn by the end of the forecast period, opines Future Market Insights (FMI). The need for different agrochemicals including pesticides and fertilizer is rising owing to the growing food necessity.
While the demand for agrochemicals is rising in developing nations such as India and China, the demand for fatty amines is predicted to surge, especially across Asia Pacific. Hence, to get the maximum yield from the available arable land and to enhance the quality, agrochemicals are being used.
The consumption of fatty amines in agrochemicals is high as it is extensively manufactured by using renewable sources such as vegetable oil, animal fats & so on, which benefit the soil, environment & output.
Key manufacturers are anticipated to witness lucrative growth opportunities as its consumption in end use sectors such as agrochemicals, food & beverage and others is increasing. To fulfil the demand, players are more focused on production capacity expansion, mergers & acquisitions activities that will boost their sales.
With the implementation of new technology and innovations, prominent players are emerging in developing countries, with the increase in the flow of foreign direct investment, collaborative projects, and monetary benefits.
Key Takeaways:
- The global market of fatty amines is projected to witness a CAGR of 9% during the period of 2022 and 2032.
- China is anticipated to remain one of the prominent markets in the global market of fatty amines, with sales expected to reach about US$ 986.1 Mn by end of 2032.
- By product type, tertiary fatty amines segment is expected to remain one of the fastest-growing segment and expand at a CAGR of 5.7% during the forecast period.
- By end use type, agrochemicals, and water treatment chemicals are anticipated to account for more than 43% of demand share in global fatty amines market by 2032.
Competitive Landscape
Key market players are involved in the fatty amines market which include Clariant AG, Albemarle Corporation, Akzo Nobel N.V., Evonik Industries AG, Kao Corporation, Arkema S.A., Eastman Chemical Company, Solvay S.A., E.I. du Pont de Nemours & Co., Procter & Gamble Company, Lonza Group Ltd, Indo Amines LTD, Sterling Auxiliaries Pvt. Ltd., Nouryon, Wuxi Zhufeng Fine Chemical Co., Ltd., NOF COORPORATION and Other.
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