According to recent market research "Fatty Amines Market by Type (Primary, Secondary, and Tertiary), End Use (Agrochemicals, Oilfield Chemicals, Chemical Processing, Water Treatment), Function (Emulsifiers, Floatation Agents, Dispersants, Chemical Intermediates), Region - Global Forecast to 2024", is projected to grow from USD 2.9 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 6.5% from 2019 to 2024. The growing demand for agrochemicals in the agriculture industry is driving the growth of the fatty amines market. The growing GDP in the Asia Pacific region due to increasing industrial activities is another key factor that is driving the growth of the fatty amines market across the globe.
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Based on type, the primary fatty amines segment accounted for the largest share of the fatty amines market in 2018. The primary fatty amines segment is projected to lead the market in terms of both value and volume during the forecast period. Primary fatty amines can be employed in a multitude of applications, such as floatation agents, anticaking agents, corrosion inhibitors, and others, in the fatty amines industry. The growth in this market is mainly attributed to the simpler manufacturing process of primary amines, which requires a lower number of additives in comparison to the other fatty amines (type) segments.
Based on end use, the agrochemicals segment led the fatty amines market in 2018 in terms of both value and volume. The growth of this segment can be attributed to the increase in the global demand for nutritious and high-quality food. Furthermore, the surge in global population, as well as the limited availability of arable land, are propelling the demand for the agrochemicals end use segment of the fatty amines market.
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The fatty amines market is projected to grow from USD 2.9 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 6.5% from 2019 to 2024. The growing demand for agrochemicals in the agriculture industry is driving the growth of the fatty amines market. The acquisitions, as well as plant and distribution channel expansions made by many prominent players in the fatty amines industry, are the key factors driving the growth of the fatty amines market across the globe.
Kao Corporation (Japan), Nouryon (Netherlands), Arkema S.A. (France), Lonza Group Ltd (Switzerland), Solvay SA (Belgium), Evonik Industries AG (Germany), Huntsman Corporation (US), Volant-Chem Corp. (China), Global Amines Company Pte. Ltd. (Singapore), India Glycols Limited (India), Indo Amines Limited (India), Procter & Gamble Co (US), ERCA SPA (Italy), Qida Chemical Co., Limited (China), Wuhan Obayer Science Co, Ltd. (China), and Ecogreen Oleochemicals GmbH (Germany) are some of the leading players operating in the fatty amines market. These players have adopted the strategies of expansions, acquisitions, divestments, collaborations, and joint ventures to enhance their positions in the market.
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In October 2018, Nouryon, through its parent companies, The Carlyle Group (US) and GIC Private Ltd. (Singapore), acquired the Specialty Chemicals business of Akzo Nobel N.V. (Netherlands) for an enterprise value of USD 11.9 billion. The acquired business was included in the Nouryon company in October 2018. The purpose of this acquisition was to establish Nouryon among the leading players in the specialty chemicals sector, globally.
In July 2017, Lonza Group Ltd acquired Capsugel S.A. (US) from Kohlberg Kravis Roberts & Co L.P. (US) for USD 5.5 billion. The acquisition aided Lonza Group Ltd in accelerating its growth in the consumer healthcare industry. The acquisition established Lonza Group Ltd as a fully integrated solutions provider in active ingredients, thus strengthening its position in the tertiary amines market as well.
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