3rd January 2020 – Global Dimer
Acid Market Research Report Presents Intellect by Leading Players,
Type, Applications, Distribution Channel, Consumption, Revenue (Mn/Bn USD) and
Region –Forecast to 2024.
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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