Dimer Acid Market Product Driving Factors, Capacity and Growth Rate Analysis to 2024

Posted on 2021-04-28 by researchinsights in Chemicals // 0 Comments

Felton, California , USA, Apr 28, 2021 — /EPR Network/ —

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.

Global Dimer Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)

Nonreactive Polyamide Resins
Polyamide Resins
Oilfield Chemicals
Others

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 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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Key questions answered in the report include:

What will be the market size in 2024?
What are the growth opportunities of Dimer Acid market in upcoming period?
What strategies are the market players adopting to ensure sustainability?
Which region or country driving the demand of Dimer Acid market?
How and where market players should focus to gain maximum ROI?

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