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Fatty amines (also called as oleochemicals) are organic compounds that are derivatives of ammonia and one or more hydrogen atoms in these compounds, which are substituted by either aryl or alkyl group. Fatty amines are constantly separated from oleochemicals and catalyzed by the hydrogenation process in fatty nitriles. They are available for use in many applications such as water treatment, agro chemicals, petroleum chemicals, asphalt additives, anti-caking, and others such as mining, personal care, textile, painting, and blending. Fatty amines have applications in a variety of consumer industries, including corrosion inhibition, organology, sanitization, texture, and other cosmetic additives. Furthermore, they are increasingly being used in liquid detergents and fabric softeners.
Water treatment and agro-chemical components are predicted to continue to be major components, followed by the addition of asphalt and chemical components in the oilfield. Fabric softening, personal care, and mining are estimated to create lucrative opportunities for the market growth. Fatty amines are majorly used in the paints & coatings industry as they act as epoxy curing agents. Construction activities in Asia-Pacific and the Middle East as a result of increased demand are expected to drive the market growth. In addition, low cost of raw materials, adequate availability, low toxicity rates, and low production costs are the variables that are predicted to provide the potential for profitable growth during the forecast period. Fatty amines find application as ingredients in agro chemicals. Attributed to the benefits of fatty amines as emulsifiers, it is expected to stimulate the market growth. Therefore, increase in demand for agricultural and chemical agricultural products, is expected to continue to drive the fatty amines market growth. The asphalt additive component has been witnessing strong growth during the forecast period as it is widely used in the paint & coatings industry.
Fluctuations in prices of raw materials and uncertain availability of amines are expected to hamper the market growth. The availability of more affordable alternatives that include environment-friendly products is expected to limit the acceptance of the product. Concerns about the risk of non-existent raw materials and the availability of fatty acids are expected to act as a barrier to the market growth.
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