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. Factors such as changing technology within the additives industry, driven by cost, low VOC, and other legislation, are expected to upsurge the demand for bio-based, environment-friendly additives in the paints & coatings industry, which in turn is expected to upsurge the fatty amines market, thus acting as an opportunity for the worldwide growth of the fatty amines market.
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The agrochemicals end use segment is projected to lead the fatty amines market
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.
The emulsifiers function segment is projected to lead the fatty amines market
Based on function, the emulsifiers segment accounted for the largest share of the fatty amines market in 2018. The emulsifiers segment is projected to lead the market in terms of both, value and volume during the forecast period. Growth in this market is mainly attributed to the extensive use of fatty amines as emulsifiers in various end uses such as agrochemicals, chemical processing, personal care, and household.
The fatty amines market in South America is projected to grow at the highest CAGR
The fatty amines market in South America is projected to grow at the highest CAGR in terms of both value and volume from 2019 to 2024. Brazil, Argentina, Colombia, Chile, and Uruguay are the key countries contributing to the increased demand for waste-water treatment plants and, thus, fatty amines in this region. Factors such as rising agribusiness in the South America region have increased the demand for fatty amines in this 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 position in the market.
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