Increasing demand from water treatment applications and agrochemicals is expected to spur the growth in the overall global fatty amine market, which is projected to reach a value of US$2.6bn by 2027.
Fatty amines – which are oleochemicals or chemicals produced from fatty acids, are used in filtration applications in water treatment, an area expected to contribute to nearly a quarter of overall fatty amine market revenues between 2017-2027, according to a recent market report by Future Market Insights (FMI).
In addition to water treatment, the growing use of agrochemicals was expected to give the market a considerable boost as the steadily increasing global population spurred the need for more agrochemicals, with fatty amines being one of the core chemicals in the agriculture sector.
This growing segment would further drive the demand for fatty amines in land cultivation operations and manufacturers would be able to secure higher profits, said FMI.
However, the growing global mining industry was seen as a possible hindrance that could slow down market growth.
“Tertiary fatty acids 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,” FMI said.
The Asia Pacific excluding Japan (APEJ) region was expected to lead the global fatty amines market in terms of revenues until 2027.
Leading companies in the market included AkzoNobel, Albemarble Corp, Arkema, Clariant, EI du Pont de Nemours & Co, Evonik Industries, Kao Corp, Lonza Group and Procter & Gamble.