Rising Agrochemical Demand Fuels Fatty Amines Market Growth: Insights by Future Market Insights

Fatty amines are versatile organic compounds derived from natural or synthetic fatty acids. These compounds find wide-ranging applications in various industries, including agriculture, personal care, water treatment, and chemical manufacturing. Fatty amines serve as emulsifiers, surfactants, corrosion inhibitors, and lubricants, among other functions. Their unique properties and versatility make them indispensable ingredients in numerous products and processes.

The need for different agrochemicals including pesticides and fertilizer is rising owing to the growing food necessity. The global market of fatty amines market size is anticipated to reach a value of US$ 4,724.4 Million by the end of the forecast period, opines Future Market Insights (FMI).

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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.

"Growing demand for agrochemicals & water treatment chemicals are expected to propel the sales of fatty amines in the forecast period," says an FMI analyst.

Key Takeaways in Fatty Amines Market Research Report::

- The global market of fatty amines is projected to witness a CAGR of 4.9% 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.

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Competitive Landscape in Fatty Amines Market Report:

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.

For instance

- On June 27, 2022, Evonik Industries made a technical collaboration with Ag Tech, an agribusiness innovation hub in Brazil, to enhance its regional agribusiness network.
On Feb 28, 2022, Kao Corporation decided to establish a new tertiary amines plant in Texas, USA to strengthen its chemical business.

More Insights into the Fatty Amines Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the global fatty amines market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (primary, secondary & tertiary), end-use (agrochemicals, water treatment, personal care, construction, oil field chemicals, textile industry & others), and region.

Fatty Amines Market Segmentation

By Product Type:

Primary Amines
Secondary Amines
Tertiary Amines

By End-Use:

Agrochemicals
Water Treatment
Construction
Oil field Chemicals
Personal Care
Textile Industry
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

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About Future Market Insights, Inc. (FMI)

Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.