(IT-NEWSWIRE.COM, February 03, 2023 ) The global 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.
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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.
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.
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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.
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.
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