Dimer Acid Market Projected To Upgrade $2.30 Billion Revenue By 2024: Grand View Research Inc.

Dimer Acid Market Projected To Upgrade $2.30 Billion Revenue By 2024: Grand View Research Inc.

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According to report published by Grand View Research, Growing consumption of polyamide resins in marine coatings is a major growth driving factor over the forecast period. Increasing oilfield chemicals demand which uses dimer acid as feedstock owing to rising drilling activities to meet excess energy demand is also expected to drive the demand growth.

According to a report,“Dimer Acid Market Analysis By Application (Nonreactive Polyamide Resins, Reactive Polyamide Resins, Oilfield Chemicals) And Segment Forecasts To 2024”, published by Grand View Research, Inc., the global dimer acid market is expected to reach USD 2.30 billion by 2024. Growing consumption of polyamide resins in marine coatings is a major growth driving factor over the forecast period. Increasing oilfield chemicals demand which uses dimer acid as feedstock owing to rising drilling activities to meet excess energy demand is also expected to drive the demand growth. 

Key Takeaways from the report:

  • Global dimer acid market demand was 467.4 kilo tons in 2015 and is expected to reach 671.7 kilo tons by 2024, growing at a CAGR of 4.0% from 2015 to 2024

  • The nonreactive polyamide resin is expected to exhibit considerable growth accounting for over 40% of total market volume by 2024. The increasing use of nonreactive polyamide resins, which are based on dimers, for printing inks and paper coatings, is anticipated to boost application segment growth over the forecast period.

  • Asia Pacific was the dominant regional market with demand share exceeding 38% in 2015. Economic growth coupled with increasing migration has resulted in increasing sustainable infrastructure needs thereby facilitating demand for dimer acid based reactive polyamide resins. Increasing compliance of producers with stringent EU regulations to positively impact demand in the Eurpoen market

  • Some of the key players operating in global dimer acid market include BASF, Arizona Chemicals, Emery Oleochemicals, Aturex Group, Croda International, Anqing Hongyu Chemicals Co. Ltd., Florachem Corp., Nissan Chemical America Corp., Novepha Co. Ltd., Harima Chemicals and Oleon N.V.

U.S. dimer acid market revenue by application, 2014 – 2024, (USD Million)

U.S. dimer acid market revenue by application, 2014 - 2024, (USD Million)

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Asia Pacific and Latin America are expected to witness brisk growth owing to increasing construction activities in the regions. Emerging economies such as China and India along with Southeast Asia have been witnessing significant construction spending due to urbanization and industrial growth. 

The industry faces challenges in terms of raw material availability. The fatty acid production which is largely done through vegetable oils has been facing high demand from food & biofuels industries, therefore tightening its supply for production of dimer acid. 

Another challenge market participants face is the low biodegradation rate of products made of these acids. Considering increasing importance for recyclability of materials, development of novel technologies to tackle the issue is crucial for development prospects. 

Reactive polyamide resins segment was the dominant application accounted for over 40% of the overall volume in 2015. High demand for epoxy, marine and flooring coatings to drive the segment growth at a CAGR of 4.3% from 2016 to 2024.

Grand View Research has segmented the dimer acid market on the basis of application and region:

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

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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