The global dimeracid 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.
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.
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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.
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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.
Market
Segment:
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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