Global Dimer Acid Market was evaluated at more than 456 kilo tons for 2015 and predicted to register CAGR of more than 4.1% by end of 2023. Rise in demand for dimer acid polyamide resin due to increasing construction activities can favorably affect the industry. Further, rapid modernization and economic development along with high expenditure on infrastructure in most of the countries is predicted to fuel industry growth. In addition to this, growth in production sectors like chemical sector, electronics sector, automotive sector and metal foundry sector can propel product demand.Oilfield chemicals are extensively utilized in activities like refining, well drilling and hydraulic fracturing. Many of these chemicals are used as surfactants, lubricants and corrosion inhibitors. Increasing rate of drilling activities carried out globally to fulfill rising power requirements are predicted to propel oilfield chemicals demand that can promote dimer acid market growth.
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Polyamide resin consumption due to strong construction spending particularly in BRICS nations may drive product demand. Nonreactive polyamide resins dominated the application landscape by accounting over 40% of global dimer acid market share in 2015. Strong solvent demand from adhesives and printing inks will drive non-reactive polyamide resin applications.
Oilfield chemical applications may witness significant gains at 4.5% CAGR. Increasing production across OPEC countries, U.S. and Russia will stimulate dimer acid demand. Increasing application scope in new avenges such as surfactants, alkyd resins, adhesives and oil additives may complement product demand.
APAC, led by China dimer acid market size, was largest regional industry and accounted for over 38% of global volume in 2015. Increasing infrastructure spending in China, Indonesia and India may drive regional demand. China’s push for shale gas exploration and oil production will drive demand in the region.
Regulatory support by EPA & REACH owing to its non-toxic nature will favor industry growth. Raw material supply bottleneck issues for rapeseed oil, tall oil, soy oil and sunflower oil may affect the production and affect dimer acid market price trend.
Global industry is segmented into key geographical regions like North America, Europe, APAC, MEA and Latin America. North America dimer acid market dominated the global industry by contributing more than $300 million for 2015 . The regional industry growth can be contributed to rapid expansion of U.S. construction sector. Further, growing infrastructure sector and favorable government policies are few of the aspects predicted to promote demand for adhesives and masonry & epoxy coating agents. This can further enhance the regional industry demand.
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European industry is predicted to register CAGR of more than 6% in revenue terms and experience maximum gains. Countries like UK and Germany are predicted to contribute significantly towards regional industry growth. Rising oil & gas sector in this region is expected to supplement the product demand.
APAC dimer acid market is predicted to cross $851 million mark by end of 2023 and register CAGR of more than 6.51% during forecast timeline. Rising urbanization along with increasing industrialization in countries like India and China can promote polyamide resin demand and boost industry growth in the region.
Key insights from the report include:
- Global dimer acid market size may reach 645.1 kilo tons by 2023 with industry gains predicted at 4.4%. Growing oilfield chemical demand due to increasing drilling activities is likely to positively influence market growth.
- Reactive polyamide resin may witness highest gains at 4.6% CAGR. Rapidly increasing surface coatings and adhesive demand from construction & marine industry may propel dimer acid market size for reactive polyamide resins.
- U.S. dimer acid market size was valued above USD 200 million for 2015 and industry predicts gains at over 6% CAGR up to 2023. Government initiatives in the region to enrich public infrastructure may favor epoxy & adhesives and construction coating agents demand.
- Europe may surpass USD 690 million by 2023. ECB has initiated a strategy for funding private sector afloat in the economy which may stabilize growth rates in major industries which include energy, construction, transportation, foundry and plastics.
- Reactive polyamide resins demand in APAC may observe significant gains at 5.6% CAGR and surpass 90 kilo tons by 2023.
- Global dimer acid market share is moderately consolidated with major industry players contributing over 35% of global industry demand. Major companies include Croda, Arizona Chemicals, BASF and Oleon.
- Major companies are actively involved in M&A and joint venture agreements with small scale producers in order to strengthen their market presence. Emergence of large number of dimer acid producers in China may further increase competitiveness among market participants. Key companies are uplifting their production capacities in APAC in order to serve growing regional demand.
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