New York, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The global fatty amide market is all set to witness growth at 5.1% CAGR and reach a valuation of US$ 474.7 Mn by the end of 2032. Fatty amides, often termed fatty acid amides, are derivatives of organic fatty acids, wherein, an OH group is replaced by an NH2 (amine) group. Fatty amides are produced from fatty acids, such as erucic acid, stearic acid, oleic acid, and others.
Demand for bio-based lubricants is also increasing day by day due to rising environmental concerns, and being a forefront runner in bio-based lubricants types, fatty amides are witnessing elevated demand.
Fatty amides are also witnessing an upsurge in demand over recent years; however, sales are restricted owing to volatile and fluctuating prices of raw materials (petrochemicals, vegetable oils, and others).
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“Increasing demand for fatty amides as slip agents, an anti-block agent the polyolefin film & sheet manufacturing industry, is expected to drive market growth,” says a Persistence Market Research analyst.
Key Takeaways from Market Study
- The global fatty amides market is all set to witness lucrative growth and reach a valuation of US$ 474.7 Mn by the end of 2032.
- East Asia is the largest producer and consumer of fatty amides and is expected to witness robust growth opportunities over the coming years.
- Nimble growth in rubber and lubricant industries is propelling the demand for fatty amides.
- The slip agents segment holds a significant share of the global market by application.
- Key market participants are actively expanding their manufacturing capabilities to cater to the rising demand.
By product type, fatty amides are categorized into four types - eurucamide, oleamide, stearamide, and behenamide. Erucamide holds a major share in the global market as it finds various applications across a wide spectrum of end-use industries. Demand for erucamide is driven by its use in applications such as slipping agents, dispersants, anti-block agents, and lubricants. Oleamide is the second-most widely utilized product type in fatty amides. It is mainly used in the application of dispersants. It improves particle separation and prevents settling or clumping of the particles, and is utilized in dyes and printing inks.
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Competitive Landscape
According to Persistence Market Research, Croda International Plc., PMC Biogenix Inc., Fine Organic Industries Pvt. Ltd., Nippon Fine Chemicals Co. Ltd., Kao Corporation, Italmatch Chemicals S.p.A., Sichuan Tianyu Oleochemical Co., Ltd., Nippon Kasei Chemical Company Limited, Haihang Industries Co., Ltd., Mohini Organics Pvt. Ltd, and Pukhraj Additives LLP, are identified as key manufacturers of fatty amides.
- In May 2022, Kao Corporation announced that the company would establish a new amine plant in Texas. This new plant is scheduled to start operations by 2025, and the annual production capacity of the plant will be 20,000 tons.
- In October 2018, Univar Inc., a chemical and ingredient distributor and provider of value-added services, announced that its wholly-owned subsidiary chemPoint.com, Inc. expanded its partnership with PMC Biogenix to include distribution of PMC's slip agents, anti-block additives, and fatty acids in Mexico.
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