New York, July, 2022: Axiom Market Research & Consulting™ added a report on global fatty amides market which includes studies on type, product type, function, end-users, across various countries of key regions across the globe. The global fatty amides market was projected to grow at a CAGR of 5.34% for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the fatty amides market.
The factors such as the expanding processed food and beverage industry, especially in developing regions are expected to boost the market growth of fatty amide. Growing demand for plastic across the globe owing to the booming end-user industry is boosting the market growth in the upcoming year. For instance, according to the report published by polymer database, for the period 2012 to 2017, the demand for plastic products increased around 3.7% per year with a total world plastic production of about 300 tons in 2013.
The report analyses the global fatty amides industry based on type, product type, function, end-user and geography. The fatty amides are segmented into erucamide, behenamide, stearamide and oleamide. The fatty amides are available in various forms, such as, bead, powder and pastilles. Fatty amides are used as slip agent, dispersant, lubricant, anti-block agent and release agent. Besides, end-users of fatty amides are film processing, injection molding, ink and rubber. The global fatty amides market is studied across various key countries in regions such as, North America, Europe, Asia Pacific and the Rest of the World.
Erucamide accounts for the largest share in the market. In 2018, the erucamide accounted for 74% in terms of revenue owing to its application in the case of lubrication and a slip agent. This type of fatty amides is used mainly as a slip additive, an anti-block agent, and for paper coating compositions and water-proofing. Erucamide and some of its derivatives are used in polymers at low concentration levels.
The bead segment accounted for the largest share in the fatty amides market. In 2018, the bead segment accounted for 61% in terms of revenue due to its demand from various end-user industries such as film processing, printing, ink manufacturing and others. The use of beads in thermoplastics application is increased. The bead is designed for use in most thermoplastics to impart improved properties such as lubricity, anti-blocking and mold release. Beads are used to a high extent in various non-ionic surfactants.
Fatty amides, including primary and secondary amides, are the most commonly used slip additive. Slip additives are used to reduce friction between films and between film and converting equipment, which improves movement through extrusion lines and downstream packaging operations and enhances processing or end applications. The growing demand for slip additives from health care for offering better seal strength to the plastic packaging product is expected to boost the market growth of fatty amides.
The film processing segment is a growing end-use industry. The demand for fatty amides is increased by the demand for polyolefin films from the packaging and food & beverage industries. In 2020, the global packaged food market was valued at $1,925.7 billion.
Asia-Pacific is likely to dominate the global fatty amides market with a share of more than 37%, followed by Europe and North America. The improving economic conditions, increasing disposable income and increasing population and rising per capita income in the region. Furthermore, there is high demand from the packaging and manufacturing industries which will fuel the fatty amides market growth.
The key competitor of the market includes BASF SE (Germany), Croda International PLC (UK), ChemPoint (US), Italmatch Chemicals SpA (italy), Kao Corporation (Japan), Kuala Lumpur Kepong Berhad (Malaysia), Nippon Fine Chemical Co., Ltd. (Japan), PMC Biogenix, Inc. (US), Pukhraj Additives (India), among others.
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