Along with this, the study also expects that the near future of the global fatty amines market will witness a considerable boost from growing use of agro-chemicals. Consistent growth in global population will spur the need for volumes of agro-chemicals, with fatty amines being one of the core chemicals used in agricultural sector. This will further drive the demand for fatty amines in land cultivation operations, and manufacturers will be able to secure high profit margins. According to Future Market Insights’ forecast, the global fatty amines market is poised to reach US$ 2.6 Bn value by the end of the forecast period. The report estimates that in 2017, more than US$ 1.8 Bn worth of fatty amines were sold globally.
Fatty Amines to Find New Applications
The study also projects that the high demand for fatty amines in agrochemicals industry will be resonated with growing demand in other applications. In the water treatment sector, fatty amines or chemicals made of fatty amines will be widely used for extensive water filtration processes. However, the growing expansion of mining sector is expected to hamper the growth of the global fatty amines market.
On the basis of product-type, the report estimates that tertiary fatty amines will account for nearly 40% of the overall market revenues in 2017 and beyond. The demand for primary fatty amines will also gain traction, and register high revenue growth over the forecast period.
Among the key industries where fatty amines have found applications, water treatment is pegged to represent highest end-use. Over the forecast period, almost one-fourth of revenues procured in the global fatty amines market will be accounted by the end-use of these chemicals in water treatment facilities. With respect to region, the Asia-Pacific excluding Japan (APEJ) region is anticipated to dominate the global fatty amines market in terms of revenues throughout the forecast period.
Complexities in Production of Fatty Amines
A detailed competitive assessment offered in the report reveals the leading producers of fatty amine chemicals in the global market. Companies namely, Lonza Group Ltd., Procter & Gamble Company, Albemarle Corporation, E.I. du Pont de Nemours & Co., Solvay S.A., Arkema S.A., Clariant AG, Kao Corporation, Evonik Industries AG, and AkzoNobel N.V. are expected to represent key players in the global fatty amines market throughout the forecast period. A majority of companies producing fatty amines are expected to focus on lowering the complexities arising from raw material procurement and supply chain management. In addition, these companies will be under the radar of stringent regulatory bodies supervising their production units in different parts of the world.