NEWARK, Del, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The fatty amine market was estimated to be worth US$ 2,940.1 million in 2022. Demand is expected to be worth US$ 3,081.3 million by 2023. From 2023 to 2033, the market is predicted to grow at a 4.9% CAGR and reach US$ 4,955.9 million by 2033.
The increased demand for fatty amine as a corrosion inhibitor, water softener, and scale dispersant is one of the primary drivers driving the industry. Fatty amine is used for wastewater treatment in various industrial facilities, refineries, and manufacturing industries, which has led to increased demand within the water treatment business.
Water supplies have been under significant strain in recent years due to the rising global population, increased demand for clean water in industrial applications, and the impact of climate change, which has resulted in water scarcity worldwide, necessitating the need for water filtration activities. Factors such as these have been propelling the growth of the fatty amine industry.
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Key Takeaways from the Market Report
- The fatty amine industry in the United States is expected to increase at a 4.5% CAGR through 2033.
- From 2023 to 2033, China is set to register a CAGR of 6.5%.
- France is expected to register expansion at a 3.2% CAGR from 2023 to 2033.
- The fatty amine industry in Japan is predicted to flourish at a 4% CAGR over the projected period.
- The United Kingdom is forecast to advance at a 3.6% CAGR over the projected period.
- By product type, tertiary amine is expected to accumulate a 48.7% revenue share in 2023.
- Fatty amine is expected to be extensively used in water treatment, yielding 23.7% revenue in 2023.
“Increasing emphasis on biodegradable and sustainable fatty amine products, driven by environmental awareness as well as regulatory challenges, will affect the strategies and developments of players in the industry for fatty amines,” comments Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Competitive Landscape
Due to the prevalence of regional and small-scale manufacturers, most large corporations obtain raw materials from regional or local businesses. The more experienced rivals invest much in research and development to launch new products. This will create appealing opportunities for the sector in the near future.
Key companies profiled
- 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 Amine Ltd
- Sterling Auxiliaries Pvt. Ltd.
- Wuxi Zhufeng Fine Chemical Co., Ltd.
- NOF CORPORATION
- Nouryon
Key Developments
- In 2022, Clariant, a sustainable, focused, and inventive specialty chemical company, has agreed to a formal deal to sell its Quats division. It has been sold to Global Amines Company Pte. Ltd. through a joint venture that is owned 50% by Clariant and 50% by Wilmar, Asia's top agricultural company, as well as global oleochemicals company.
- Akzo Nobel NV announced its Collaborative Sustainability Challenge in 2023, encouraging partners across the value chain to work on a shared carbon reduction strategy. They continue to invest in new equipment and facilities. In 2022, they opened a new €11 million worldwide research and development center at its Slough, United Kingdom, site.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the fatty amine industry, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the fatty amine industry, the industry is segmented on the basis of product type (primary amines, secondary amines, and tertiary amines), end use (agrochemicals, water treatment, construction, oil field chemicals, personal care, textile industry, others) and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
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Segmentation Analysis of the Fatty Amine Industry Outlook
By Product Type:
- Primary Amine
- Secondary Amine
- Tertiary Amine
By End-Use:
- Agrochemicals
- Water Treatment
- Construction
- Oil field Chemicals
- Personal Care
- Textile Industry
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
About the Chemicals and Materials Division at Future Market Insights
The chemicals and materials domain at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Authors by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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