The global dimer acid market is
expected to reach USD 2.30 billion by 2024, according to a new report by Grand
View Research, Inc. 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.
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.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/dimer-acid-market
Further key findings from the report suggest:
·
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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/renewable-chemicals
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
o U.S
·
Europe
o Germany
o UK
·
Asia Pacific
o India
o China
·
Central & South America
·
Middle East and Africa
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-dimer-acid-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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