Demand for Fatty Amines to Soar with High Growth Observed In South America Region| Top Players are Kao Corporation, Nouryon, Arkema S.A., Lonza Group Ltd, Solvay SA and others
Fatty amines are organic compounds formed by the reaction of fatty acids and ammonia. They are used as emulsifiers, corrosion inhibitors, lubricants, surfactants, and dispersants, among other things. They are also used in the manufacture of soaps, shampoos, detergents, and other cleaning products. They are used as corrosion inhibitors, wetting agents, and emulsifiers in the petroleum industry. They are used in agriculture as animal feed additives, insecticides, and herbicides. The increased use of fatty amines in various industries is driving up demand for them.
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 fatty amines market growth. 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.
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The rising demand for primary fatty amines in the manufacture of detergents, agrochemicals, and personal care products is expected to drive the primary fatty amines segment’s expansion. Because of their surfactant properties, primary fatty amines are used in the production of detergents, agrochemicals, and personal care products. Furthermore, due to their excellent emulsifying and solubilizing properties, primary fatty amines are used in a variety of applications such as metalworking fluids, emulsifiers, corrosion inhibitors, and lubricants. Additionally, the rising demand for primary fatty amines in producing surfactants, owing to their superior wetting, foaming, and emulsifying properties is expected to drive the segment’s growth.
South America’s fatty amines market is expected to grow at the fastest rate in terms of both value and volume. This is due to increased demand in the region from various industries such as detergents, personal care, agrochemicals, and oilfield chemicals. Growing industrialization, technological advancements, and population growth are also expected to drive the market during the forecast period. Brazil, Argentina, and Colombia are the major contributors to market growth. Brazil is the region’s largest market due to its large population, growing industrialization, and the presence of major players. Due to increased demand from the detergent and personal care industries, Argentina is expected to be the second-largest market. Colombia is expected to witness considerable growth due to the presence of numerous oilfields, which are expected to increase the demand for fatty amines in the region.
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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