SEATTLE, April 27, 2020 (GLOBE NEWSWIRE) -- Fatty amides are amides that are derived from fatty acids and amides. Some of the examples of fatty amides are stearic acid, uric acid, and oleic acid. They are widely used in the production of inks and dyes, personal care products, rubber, and plastic products. Fatty amides are also used in the packaging industry as slip agents in order to reduce friction in the production of polyolefin film. Film processing is the largest application area of the fatty amides.
Statistics:
The global fatty amides market is estimated to account for US$ 420 Mn in terms of value by the end of 2027
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Market Drivers:
The rising demand for polyolefin films from the packaging industry is expected to foster the market growth of the fatty amides. It is used as a slip additive in the processing of polyolefin film for reducing friction. Thus, the growth of the market can be attributed to growth in the packaging and manufacturing industries around the globe that is creating demand for fatty amides.
Increasing demand for fatty amides from the printing ink industry is expected to augment the market growth of the fatty amides. Fatty amides are used as a diluting agent in the manufacturing of printing inks and dyes. Furthermore, the growing demand for fatty amides from plastic, rubber, and personal care industry is further anticipated to accelerate the market growth of fatty acid.
Market Restraints:
Strict rules and regulations regarding the use and production of fatty amides are expected to hinder market growth over the forecast period.
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Key Takeaways:
On the basis of product type, in 2018, erucamide segment accounted the largest market share of 74% in terms of revenue owing to its application in case of lubrication and as a slip agent decrease the friction in polymer and plastic industry. Increasing growth of polymer and plastic industry is expected to thereby boost the demand for erucamide during the forecast period (2020-2027). For instance, as per the PlasticsEurope, a European and national plastics association, in 2016, the world plastic production was 335 Mn tons which increased and reached 348 Mn tons by 2017.
On the basis of form, in 2018, beads & micro-beads segment accounted for the largest share of 61% in terms of revenue owing to its demand from various end-use industries such as the film processing, and printing ink manufacturing, among others.
On the basis of regions, in 2018, Asia Pacific dominated the global fatty amides market with a market share of 36% in terms of revenue owing to the increasing demand for fatty amides from India, China and South Korea, among other countries. The increasing government investment and ease for foreign direct investment (FDI) in case of manufacturing sector in developing countries in Asia Pacific is a result of the increasing demand for fatty amides from this region. For instance, as per Invest India, a National Investment Promotion and Facilitation Agency of India, foreign investment in ‘manufacturing’ sector in India is under the ‘automatic route’. An automatic route is where the non-resident investor or the Indian company does not require any approval from Government of India for the investment.
Such initiatives in the developing countries of Asia Pacific are expected to cater towards the growth of the fatty amides market, globally during the forecast period (2020-2027).
Competitive Section:
1. Croda International Plc.
2. PMC Biogenix Inc.
3. Fine Organic Industries Pvt. Ltd.
4. Nippon Fine Chemicals Co., Ltd.
5. Kao Corporation
6. Italmatch Chemicals S.p.A
7. Sichuan Tianyu Oleochemical Co., Ltd.
8. Nippon Kasei Chemical Co., Ltd.
9. Haihang Industries Co. Ltd.
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Recent Developments:
PMC Biogenix Inc.
- In October 2018, Univar Inc. a chemical and ingredient distributor and provider of value-added services announced that it’s a wholly-owned subsidiary, ChemPoint.com, Inc. has expanded its partnership with PMC Biogenix to include distribution of PMC's slip agents, anti-block additives and fatty acids in Mexico.
Taxonomy (Scope, segments)
By Product Type
- Erucamide
- Oleamide
- Stearamide
- Behenamide
By Form
- Powder
- Beads & Micro-beads
- Pastilles
By Region
- North America
- Europe
- APAC
- MEA
- Latin America