A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global fatty amines market. Presenting exclusive insights into the market from 2017 to 2027, the report projects that the market will witness striking growth during the forecast period. Fatty amines are derived from oils, petrochemicals, and fats, among other raw materials, and are used in processes such as fabric softening, corrosion inhibition, organoclay, lubricant additives, and sanitization. Fatty acids also find applications in activities such as water treatment, anti-caking, mining, and production of agrochemicals. The growth of the market is primarily driven by increasing demand for fatty amines among agrochemicals and asphalt-additives, and growing adoption in the water treatment applications. Moreover, the development of innovative and novel applications, coupled with increasing demand for agricultural products will also continue to complement the growth of the market in forthcoming years.
Adoption in Numerous Sectors Ensures Fosters Growth
Over the years, the demand for fatty animes has significantly increased on the back of the rising global population and the subsequent need for agricultural products. Furthermore, the fatty amines have gained significant traction in various vertices, such as mining, fabric conditioning, paints and coatings, and detergents. Besides, the applications of fatty amines in several end-use industries solely rely on their cationic nature. Some of these applications include mining, paints and coatings, personal care, oilfield chemicals, and agrochemicals, which are acting as significant growth drivers. Furthermore, the surge in demand from the sprouting water treatment chemicals industry is also bestowing revenue prospects for the fatty amines market. To stay ahead of their competitors, market players are focusing on research and development (R&D) activities to develop enhanced products at affordable prices, which is further expected to boost the revenue.
Asia Pacific to Bestow Substantial Growth Prospects
Asia Pacific is expected to remain at the forefront of the growth owing to the strong presence of the automotive industry, which is expected to remain the major growth driver. Furthermore, a high number of agricultural activities in regions such as India and China will continue to boost the demand for fatty amines in the region. Moreover, the easy availability of raw materials and the presence of an affordable workforce are also bolstering the growth of Asia Pacific's market value. Additionally, an increasing number of oil & gas exploration activities is also impelling the revenue in the Asia Pacific region.