The global Dimer Acid Market size is expected to value at USD 2.30 billion by 2024. The market is subject to witness a substantial growth due to the increasing demand for polyamide type of resins in coatings and adhesives industries. Rapid industrialization in developing economies across Asia Pacific and North America is anticipated to stimulate market expansion over the forecast period.
In addition, rise in the number of manufacturing activities in the BRICS economies such as, Brazil, India, Russia, China, and South Africa is projected to expand market reach of dimer acid industry in the upcoming years. Growing number of infrastructure activities for better residential as well as public infrastructure, particularly in Asia Pacific region are propelling market growth, in the recent years. Globally, the dimer acid market is predicted to grow at CAGR of 4.0% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
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Increasing demand from building & construction sector is predicted to amplify market value of dimer acid over the forecast period. In addition, increasing government spending on various infrastructural projects, particularly in the Asia Pacific and South America region are anticipated to fuel market expansion over the coming years. Polyamide resins such as dimer acid are adopted for production of adhesives & construction materials due to their unique structural properties.
Moreover, oilfield chemicals are used in wide range application involving oil & gas extraction, and processing activities. These chemicals are also widely adopted for drilling, refining, and hydraulic fracturing activities. The factors are expected to play vital role in future growth of dimer acid industry over the next seven years. Common oilfield chemicals, which are used as a raw material, include corrosion & scale inhibitors, wetting agents, surfactants, and demulsifiers.
Shifting trend towards local energy generation rather than energy import, to become self-sufficient and cater to the growing energy demand in developing economies across the Asia Pacific region are expected to fuel market demand for dimer acid in the near future. Rise in the number of drilling activities across the globe to meet growing energy demand is estimated to favor growth of oilfield chemicals, thus fostering dimer acid demand as well.
The dimer acid market is broadly categorized into three major segments based on the application type such as nonreactive polyamide resins, reactive polyamide resins, and oilfield chemicals. The reactive polyamide resins is considered as one of the fastest growing segment in the dimer acid industry with substantial revenue generation in the last few years.
Growing popularity of the reactive polyamide resins segment is attributed to their growing demand in the building & construction sector, particularly in epoxies & floor coatings in order to improve overall performance. The non-reactive polyamide resins segment has also witnessed substantial growth owing to the increasing use of resins in different industry verticals as a solvents, flexographic printing inks and paper coatings.
The dimer acid market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in coatings and adhesives industries, substantial increase in the number of research & development activities in the region, and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the dimer acid with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with favorable regulations and government initiatives, strong economic growth, rapid industrialization and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the dimer acid industry are Florachem Co., BASF SE, AZ Chem Holdings LP, Emery OleochemicalsSdnBhd, Aturex Group, AnqingHongyu Chemical Co., Ltd., Oleon N.V., Novepha Co., Ltd., Harima Chemicals Group, Inc., and Nissan Chemical America Co.
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Market Segment:
Global Dimer Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
• Nonreactive Polyamide Resins
• Polyamide Resins
• Oilfield Chemicals
• Others
Global Dimer Acid Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
• North America
• U.S
• Europe
• Germany
• UK
• Asia Pacific
• India
• China
• Central & South America
• Middle East and Africa
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals
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