Dimer Acid Market Information: By Product Type, Application, End-Use Industry (Construction, Oilfield, Cosmetics) and Region - Forecast till 2023

Dimer Acid Market Information: By Product Type, Application, End-Use Industry (Construction, Oilfield, Cosmetics) and Region - Forecast till 2023

Surging consumption of polyamide resins due to rise in expenditure on construction activities may expediate dimer acid market growth. Dimer acids are extensively used for the synthesis of reactive as well as non-reactive polyamide resins. Notably, nonreactive polyamide resins have dominated the application landscape of dimer acid market with over 40% share in 2015. This growth can be credited to unprecedented demand for solvents from printing inks and adhesives.

Meanwhile, reactive polyamide resin are anticipated to record 4.6% CAGR over the forecast period. Surging demand for reactive polyamide resins from construction, marine and surface coating industry would spur dimer acid market growth. On this note, Global Market Insights, Inc., predicts that the dimer acid market is expected to surpass $2.26 billion by the year 2023.

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The dimer acid market is becoming increasingly competitive with the emergence of small-scale producers in countries like China. In 2015, APAC dimer acid market, led by China, was the biggest regional industry that recorded more than 38% of the industry share. The region is witnessing strong growth in infrastructure activities across India, China, and Indonesia.

Moreover, China’s push towards oil and gas production and exploration activities would enhance market outlook over the forecast period. Introduction of foreign dimer acrid companies in China could strengthen their production capacities as well as serve new trends in the regional market.

Abundant raw material and low manufacturing have also catapulted the production landscape of APAC dimer acid market. Based on these findings, it is likely that reactive polyamide resins demand in the Asia Pacific may exceed 90-kilo tons and record 5.6% CAGR by 2023, in turn is fueling dimer acid market growth.

It is vital to mention that global dimer acid market share is modestly consolidated with major industry participants catering to more than 35% of global industry demand. Notably, Arizona Chemicals, Croda, BASF and Oleon are currently at the forefront of this industry.

Increasing drilling activities has evidently surged the demand for oilfield chemicals, stimulating dimer acid market size. The product has wide application scope in new avenges alkyd resins, surfactants, adhesives, and oil additives.

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Burgeoning drilling activities across OPEC countries, Russia, and the U.S may complement the demand for oilfield chemicals. Studies meanwhile suggest that that oilfield chemical applications could record 4.5% CAGR over the forecast period, augmenting dimer acid market share.

Apparently, REACH and EPA regulatory norms are supporting the use of dimer acid in several sectors on account of its non-toxic nature. In fact, the European Central Bank (ECB) has commenced a strategy for funding the private sector, which may stabilize major industry segments like construction, energy, transportation, plastics, and foundry in Europe. With this, it is estimated that the Europe dimer acid market could exceed USD 690 million by 2023.

The dimer acid market share is consolidated with major industry players such as Croda international, Aturex Group, Harima Chemicals, Novepha Company, Florachem Corp., Jiangsu Yonglin Oleochemicals, Okleon N.V, BASF, and Liancheng Baixin Science & Technology are engaged in produce development under stringent environmental regulations.

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