Fatty Amides Market, By Product Type (Erucamide, Oleamide, Stearamide, and Behenamide), By Form (Powder, Beads & Micro-beads, and Pastilles), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at 428.2 Mn in 2024 and is expected to exhibit a CAGR of 4.1% during the forecast period (2024-2031), as highlighted in a new report published by Coherent Market Insights.
In May 2022, Kao Corporation announced plans to build a new tertiary amine production plant in Texas, U.S. with an annual production capacity of 20,000 tons.
Kao Corporation is a Japanese global chemical and cosmetics company headquartered in Nihonbashi-Kayabacho, Chūō, Tokyo, Japan. Kao Corporation operates in the personal care and cosmetics industry, with a focus on creating products that contribute to a more sustainable world. The company's business regions include the Americas, Europe, Africa, and the Middle East, and it has a strong global presence. Kao Corporation is known for its commitment to environmental, social, and governance (ESG) initiatives and its efforts to promote healthy, inclusive, and sustainable lifestyles.
Fatty Amides Market– Impact of Coronavirus (COVID-19) Pandemic.
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
The spread of the virus and the associated lockdowns led to interruptions in the global supply chain. This affected the availability of raw materials required for the production of fatty amides and also impacted the distribution channels to move finished products to the market.
The demand for fatty amides saw fluctuations depending on their end-use applications. For instance, the demand from end-user industries like automotive and textiles declined due to reduced consumer spending and economic slowdown. However, there may have been stable or increased demand in industries such as pharmaceuticals or personal care, which experienced heightened consumer interest during the pandemic.
The pandemic disrupted the balance between supply and demand, causing price volatility in the fatty amides market. This made it difficult for both suppliers and buyers to forecast and plan for their financial and production needs.
With restrictions on physical businesses and changing customer behaviors, there was a shift towards online sales channels. Companies that were able to pivot to or bolster their online presence were better positioned to withstand the impact of the pandemic.
The pandemic heightened awareness around health and hygiene, potentially increasing the demand for fatty amides in applications such as surfactants, which are used in cleaning products and disinfectants.
Fatty Amides Market– Key Developments
- In January 2021, ChemPoint announced a partnership with allnex in Europe, the Middle East, and Africa. allnex chosen as partner for marketing sales and distribution of the UVEKOL glass laminating system.
- ChemPoint is a unique distribution platform that provides marketing and sales services for specialty and fine chemicals in North America and EMEA. The company operates as a service provider for chemical producers with a distribution backbone, engaging in exclusive product-line relationships with premier manufacturers, and providing tailored solutions to over 90 supplier partners and more than 200 product lines. ChemPoint employs more than 200 people globally and is a wholly owned subsidiary of Univar Solutions, a leading global chemical and ingredient distributor.
- Allnex is a leading producer of liquid coating resins and additives, with a global presence and a focus on providing a wide range of high-quality products. The company offers a variety of resins and additives, including those based on fatty acids, for use in different applications such as paint and coatings. Allnex's product portfolio includes items like alkyd resins, epoxy resins, urethane resins, and other related products.
Link: https://www.coherentmarketinsights.com/market-insight/fatty-amides-market-3486
Key Takeaways of the Fatty Amides Market:
- The fatty amides market is expected to exhibit a CAGR 4.1% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in Fatty amides market.
- Among region, Asia Pacific is expected to be dominant in the fatty amides market, owing to the presence of major players such as Haihang Industries Co. Ltd., Croda International Plc., PMC Biogenix Inc., Fine Organic Industries Pvt. Ltd., and other key market players contributing to the growth in this region
- The major players operating in the fatty amides market include Haihang Industries Co. Ltd., 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., and Nippon Kasei Chemical Co., Ltd.
