Global Dimer Acid Market size worth $2.26bn by 2023
Published Date: July 6, 2016 Authors: Kunal Ahuja, Shreya Deb
Global Dimer Acid Market size is expected to reach USD 2.26 billion by 2023; according to a new research report by Global Market Insights, Inc.
Polyamide resin consumption due to strong construction spending particularly in BRICS nations may drive product demand. Nonreactive polyamide resins dominated the application landscape by accounting over 40% of global dimer acid market share in 2015. Strong solvent demand from adhesives and printing inks will drive non-reactive polyamide resin applications.
Oilfield chemical applications may witness significant gains at 4.5% CAGR. Increasing production across OPEC countries, U.S. and Russia will stimulate dimer acid demand. Increasing application scope in new avenges such as surfactants, alkyd resins, adhesives and oil additives may complement product demand.
APAC, led by China dimer acid market size, was largest regional industry and accounted for over 38% of global volume in 2015. Increasing infrastructure spending in China, Indonesia and India may drive regional demand. China’s push for shale gas exploration and oil production will drive demand in the region.
Increasing presence of small scale dimer acid producers in China coupled with capacity expansions by major overseas companies in the region should benefit industrial production. Raw material availability along with low manufacturing costs is one of the major factors aiding the production landscape in the region.
Regulatory support by EPA & REACH owing to its non-toxic nature will favor industry growth. Raw material supply bottleneck issues for rapeseed oil, tall oil, soy oil and sunflower oil may affect the production and affect dimer acid market price trend.
Browse key industry insights spread across 70 pages with 48 market data tables & 18 figures & charts from the report, “Dimer Acid Market Size By Application (Nonreactive Polyamide Resins, Reactive Polyamide Resins, Oilfield Chemicals), Industry Analysis Report, Regional Outlook (U.S, Germany, UK, China, India), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key insights from the report include:
- Global dimer acid market size may reach 645.1 kilo tons by 2023 with industry gains predicted at 4.4%. Growing oilfield chemical demand due to increasing drilling activities is likely to positively influence market growth.
- Reactive polyamide resin may witness highest gains at 4.6% CAGR. Rapidly increasing surface coatings and adhesive demand from construction & marine industry may propel dimer acid market size for reactive polyamide resins.
- U.S. dimer acid market size was valued above USD 200 million for 2015 and industry predicts gains at over 6% CAGR up to 2023. Government initiatives in the region to enrich public infrastructure may favor epoxy & adhesives and construction coating agents demand.
- Europe may surpass USD 690 million by 2023. ECB has initiated a strategy for funding private sector afloat in the economy which may stabilize growth rates in major industries which include energy, construction, transportation, foundry and plastics.
- Reactive polyamide resins demand in APAC may observe significant gains at 5.6% CAGR and surpass 90 kilo tons by 2023.
- Global dimer acid market share is moderately consolidated with major industry players contributing over 35% of global industry demand. Major companies include Croda, Arizona Chemicals, BASF and Oleon.
- Major companies are actively involved in M&A and joint venture agreements with small scale producers in order to strengthen their market presence. Emergence of large number of dimer acid producers in China may further increase competitiveness among market participants. Key companies are uplifting their production capacities in APAC in order to serve growing regional demand.
Global Market Insights has segmented the dimer acid industry on the basis of application and region:
- Dimer acid application Analysis (Volume: Kilo Tons; Revenue: USD Million; 2012 – 2023)
- Nonreactive polyamide resins
- Reactive polyamide resins
- Oilfield chemicals
- Dimer acid Regional Analysis (Volume: Kilo Tons; Revenue: USD Million; 2012 – 2023)
- North America
- Asia Pacific
- Latin America
- North America