Dimer Acid Market Is Projected To Be Around $ 2.57 Billion By 2025
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A research study titled, “Dimer Acid Market by Products, Application - Global Industry Analysis and Forecast To 2025” published by Crystal Market Research, states that the Dimer Acid Market is projected to be around $ 2.57 billion by 2025.
The global dimer acid market was valued roughly USD 1.43 billion in 2016 and is likely to reach around USD 2.57 billion by the end of 2025 while compound annual growth rate (CAGR) of 6.70% during the forecast period. Dimer acids are also known as dimerized fatty acids. They are dicarboxylic acids made from dimerizing unsaturated fatty acids produced from tall oil, frequently on clay catalysts. The Chemical Abstracts Service (CAS) registry number of the material is [61788-89-4]. Dimer acids are primarily employed for deriving polyamide resins. They are also used in adhesives, surfactants, alkyd resins, as lubricants, fuel oil additives, etc. It is a yellow or light yellow viscous transparent fluid. It is non-toxic in nature. Dimer acid generally contains primarily a dimer of stearic acid. It is also known C36 dimer acid. Dimer acids can be transformed to dimer amines by the help of chemical reaction of ammonia and following diminution. Dimer acids are produced by dimerizing unsaturated fatty acids that are obtained from canola oil, oleic acid, tall oil, cottonseed, tallow and rapeseed amongst others. Dimer acids are extensively used to blend hot melt adhesives and polyamide resins.
The global dimer acid market is anticipated to witness rapid growth due to increasing demand for polyamide resins in adhesives and coatings industries. The demand for dimer acid is likely to boost owing to its widespread applications in industries, such as adhesives, paints, and oilfield chemicals amongst others. These industries would experience a constant growth in the outlook, thereby fueling the growth of global dimer acid market. The escalating number of drilling across the world to fulfill extra energy demand is anticipated to optimistically impact oilfield chemicals and dimer acid demand. Presently, non-reactive polymer dominates the application section in the dimer acid market. Though, reactive polymers are estimated to demonstrate the maximum CAGR owing to its rising popularity in marine coatings and construction, particularly in Asia-Pacific region. In spite of its affirmative position, the dimer acid market is prone to experience fluctuations in the cost of raw materials such as cottonseed oil, soybean oil, and rapeseed oil that can hinder the growth of the global market during the forecast years.
The key market manufacturers in global dimer acid market includes; Harima Chemicals, Arizona Chemicals, Nissan Chemical America Corp., Aturex Group, BASF, Novepha Co. Ltd., Emery Oleochemicals, Oleon N.V., Anqing Hongyu Chemical Co. Ltd., and Florachem Corp. According to applications, the global market is split into; Oilfield chemicals, Non-reactive polyamides, Reactive polyamides and others. By products, the market industry is parted into; Standard, Distilled and Distilled & hydrogenated. Geographically, the global dimer acid market is segmented into regions which are; Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), Europe (Germany, Spain, Italy, France, UK and Rest of Europe), North America (the United States, Mexico and Canada)and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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Key findings of the dimer acid market
- Global dimer acid market was valued approximately USD 1.43 billion in 2016 and is likely to reach around USD 2.57 billion by 2025 while registering a compound annual growth rate (CAGR) of 6.70% from 2016 to 2025.
- The nonreactive polyamide resin is estimated to show significant growth reporting over 40% of total market by 2025. The rising use of nonreactive polyamide resins that are derived from dimers, for paper coatings and printing inks, is projected to improve application section growth during the forecast period.
- Asia Pacific region was dominant for the global market with demand more than 38% in 2015. Economic expansion together with rising migration has led to growing sustainable infrastructure requirements thus alleviating demand for dimer acid derived reactive polyamide resins. Escalating confirmation of manufacturers with strict European Union regulations is positively impacting the demand in the European market.
- Some of the key players in global dimer acid market include Arizona Chemicals, BASF, Emery Oleochemicals, Croda International, Aturex Group, Florachem Corp., Anqing Hongyu Chemicals Co. Ltd., Novepha Co. Ltd., Nissan Chemical America Corp. and Harima Chemicals and Oleon N.V.