Dimer Acid Market size surpassed USD 1.35 billion in 2015 and may expect gains at over 6.5% from 2016 to 2023.
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Increasing construction activities and supportive government initiatives to liberalize infrastructure spending is expected to boost dimer acid market share. India, China, Thailand and Malaysia are expected to witness high growth over the forecast period owing to rapid urbanization trends which has facilitated the need of better commercial and residential infrastructure. They are widely used in construction industry in manufacturing paints & coatings owing to their durability against environmental subspecialties such as acid rain & snow and resonance with various architectural styles may augment market growth.
The product is widely used in manufacturing thermally stable coatings for utilization in various industries such as automotive, construction, and electronics. Its chemically inert and low toxic nature makes it a viable choice for manufacturers owing to rising stringent regulations for high quality and customer centric safe products.
They are also known as dimerized fatty acids and are prepared from unsaturated fatty acids obtained from oleic acid, canola oil, cotton seed oil, or tall oil. They are widely utilized for manufacturing polyamide hot melt adhesives, alkyd resins, surfactants, lubricants, and fuel oil additives. Its nontoxic nature, economic feasibility, and easy availability makes it attractive to manufactures. It is utilized in various industries such as adhesives, oil & gas, and lubricants owing to chemical and thermally stable characteristics which may accelerate dimer acid market value.
|Market Size in 2015:||1.35 Billion (USD)|
|Forecast Period:||2016 to 2023|
|Forecast Period 2016 to 2023 CAGR:||6.5%|
|2023 Value Projection:||2.25 Billion (USD)|
|Historical Data for:||2012 to 2015|
|No. of Pages:||70|
|Tables, Charts & Figures:||66|
|Segments covered:||Application and Region|
|Pitfalls & Challenges:|
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Rising demand for alternatives products may hamper industrial growth owing to rising presence of synthetic and more economically feasible alternatives such as mineral turpentine and zinc oxide. Manufacturers are investing in developing novel methods of production which are economically compatible with synthetic products, offer low toxicity, and better chemical stability over wide working temperature which may stimulate market share.
Oilfield chemicals application valued at over USD 200 million in 2014. Rising demand for crude oil products to meet global demand from manufacturing and automobile industry may foster market share. It is widely used in inhibiting corrosion triggered by the formation of carbonic acid during oil & gas extraction. They are also utilized in extracting conventual transportation fuels such as (LPG), diesel, and gasoline which may augment dimer acid market revenue.
Reactive polyamide resin applications crossed USD 410 million in 2014. Increasing manufacturing sector, e-commerce, trade, and demand for international shipping of non-consumer goods has increased the demand for paperboard packaging & printing inks due to its durability, smudge proof, and sturdy nature. Polyamide resins are widely utilized in manufacturing commercial printing inks owing to its quick drying nature and compatibility with colour shades which may foster market share. They are also utilized in manufacturing curing agents for epoxy resins which are widely used in manufacturing industrial linings, marine coatings, thermosetting surface coatings, adhesives, and heavy-duty coatings which may promote market demand.
North America dimer acid market may register significant growth of over 4% up to 2023. Increase in online shopping trends owing to rising per capita income and increasing technological trends in electronic payment channels has led to an increase in demand of printing inks for packaging. Changing consumer perceptions towards biobased inks & rising demand for quick drying and long-lasting inks compatible with paper, metal, and glass surfaces is expected to spur market growth.
Europe dimer acid industry demand may surpass USD 690 million by 2023. Rising construction & renovation activities owing to rising population levels, availability of low interest housing loans, and supportive government initiatives to provide affordable and high-quality housing may augment market share. Changing perceptions towards naturally synthesized paints & coatings and rising awareness on potential side effects of lead-based coatings may encourage product demand.
Asia Pacific industry valued at over USD 465 million in 2014 and may exceed in the foreseeable timeframe. Growing production of premium cars and significant investments in research & development by manufacturers is likely to stimulate automotive market growth thereby market demand. They are compatible with polyurethanes & are widely used in manufacturing automobile bumpers and mouldings. Rising demand for light vehicles and stringent regulations against fuel efficiency may drive market share.
The dimer acid market share is consolidated with major industry players such as Croda international, Aturex Group, Harima Chemicals, Novepha Company, Florachem Corp., Jiangsu Yonglin Oleochemicals, Okleon N.V, BASF, and Liancheng Baixin Science & Technology are engaged in produce development under stringent environmental regulations. Manufacturers are investing in developing novel & economically competitive manufacturing techniques to curb drawbacks and widening geographical presence.
Dimer acids belong to the class of dicarboxylic acid and are manufactured by dimerizing fatty acids. It is the process by which two or more molecules combine to form another compound. They have yellow & viscous appearance and are non-toxic in nature. They can be classified as either non-reactive or reactive. They are widely utilized as curing agents for resins which are used to manufacture coatings and industrial adhesives. They are also utilized in manufacturing hot melt adhesive, printing inks, fuel additives, surfactants, and lubricants.