Fatty Amines Market size is forecast to reach $4.3 billion by 2025, after growing at a CAGR of 6.7% during 2020-2025. With rise in consumption of corrosion inhibiters, lubricants, among others, the Fatty Amines market is witnessing an increase in demand. COVID-19 pandemic will further create small hurdles for the overall market demand for Fatty Amines during the forecast period.
Product – Segment Analysis
Coco Amines segment holds the largest share in the Fatty Amines market. Coco Amine is an important intermediate of cationic and amphoteric surfactants. It is widely used in mineral floating agent, waterproof softener of fiber, dyeing assistant, anti-static agent, pigment dispersant, anti-rusting agent, anti-caking agent of fertilizer, additives of lubricating oil, germicide, and others. Coco alkyl amines is a mixture of amines. Amines are chemical bases. They neutralize acids to form salts plus water. These acid-base reactions are exothermic. The amount of heat that is evolved per mole of amine in a neutralization is largely independent of the strength of the amine as a base. Flammable gaseous hydrogen is generated by amines in combination with strong reducing agents, such as hydrides. Fatty amines are commonly prepared from fatty acids.
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Application – Segment Analysis
Industrial sector has been the primary market for Fatty Amines. Primary amines and their salts find applications as flotation agents, anticaking and water-repellent agent, corrosion inhibitors, lubricating additives, bactericides, or additives for fuels and gasoline. They are also intermediates for the production of quaternary ammonium salts. The secondary amines are used mainly as intermediates for the preparation of difatty dimethyl quaternary ammonium compounds. Quaternary ammonium compounds are the next largest group of nondurable antistats. Nitrogen compounds such as fatty amines, amides, imadazolines and quaternary ammonium salts can function as antistats. Like many other cationic materials, cationic antistats have an affinity for textile fibres and can be applied by exhaustion processes. These materials exhaust and orient onto the textile surface. Fatty amine is any amine attached to a hydrocarbon chain of eight or more carbon atoms in length
Geography – Segment Analysis
APAC dominated the Fatty Amines market with a share of more than xx%, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the aviation and automotive industriesAccording to OICA, APAC automotive sales witnessed a growth of over 6.52% during 2012-2018, with South East Asian countries having huge potential to grow. So, with increase of Automobile industries the usage of corrosion inhibiters and lubricants will increase, owing to the increasing demand for fatty amines.
Drivers – Fatty Amines Market
Growing demand for electric vehicle
The shift towards electric vehicles in the developed and developing nations would help in the growth of existing IC engine vehicles and also help the fatty amines market over the forecast timeframe as, fatty amines are also used as a lubricant. According to IEA, Norway, the Netherlands and Japan are frontrunners in the electronic vehicles segment. Norway held the share of 46 percent in terms of the global new electric car sales as reported by IEA in 2018. In order to meet zero emission targets under the “Paris Climate Accord”, in 2017, France government has announced that it will ban diesel and gasoline-powered vehicles completely and switch to electric powered vehicles by 2040.
Increasing demand for emulsifiers
High levels of demand from agrochemicals application due to the benefits of fatty amines as emulsifiers, is expected to propel the growth of the Fatty Amines market.
An emulsion is a mixture of two or more liquids that are normally immiscible (unmixable or unblendable). Emulsions are part of a more general class of two-phase systems of matter called colloids. Although the terms colloid and emulsion are sometimes used interchangeably, emulsion should be used when both phases, dispersed and continuous, are liquids. In an emulsion, one liquid (the dispersed phase) is dispersed in the other (the continuous phase). Examples of emulsions include vinaigrettes, homogenized milk, and some cutting fluids for metal working.
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Challenges – Fatty Amines Market
Impact of Covid 19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any vehicles. One of the major difficulties, market is facing are the shutdown of all kinds of International transportation. Global crisis for all sectors including automotive, which was hit by slowing demand in goods production and exports had slowdown the market for Fatty amines Market, as majority of fatty amines are used as corrosion inhibiters or lubricants.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Fatty Amines market. In 2019, the market of Fatty Amines has been consolidated by the top five players accounting for xx% of the share. Major players in the Fatty Amines Market are India Glycols Ltd, Indo Amines, Qida Chemical Co., Ltd., Shandong Dafeng Biotechnology Co., Ltd., Temix International S.R.L., Global Amines Company Pte. Ltd., among others.
In September 2018, Indo Amines announced that they had decided for the merger of their organization with their subsidiaries, “Key Organics” and “Core Chemicals”. This merger will significantly enhance the generation of revenue and overall capabilities for profit margins of Indo Amines. The enhance capabilities will also increase the product offerings with the combined enterprise.
Asia-Pacific dominates the Fatty Amines market owing to increasing demand from applications such as agrochemicals, water treatment, Households and others.
The growing demand for Corrosion inhibiters, lubricants and others, are likely to aid in the market growth of Fatty Amines.
Increasing adoption of sustainable and environment friendly products, will increase the market demand for Fatty Amines in the near future.
Impact of covid19, will create hurdles for the Fatty Amines market.
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