The latest market report published by Credence Research, Inc. “Global Dimer Acid Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global dimer acid market is anticipated to grow at a substantial CAGR of 5.10% in the upcoming years. The global dimer acid industry was estimated to be worth USD 3.2 billion in 2022 and was expected to be worth USD 4.5 billion by 2030.
The Dimer Acid Market refers to the business sector involved with the production, distribution, and sales of dimer acids, also known as dimerized fatty acids. Dimer acids are dicarboxylic acids produced from unsaturated fatty acids, typically oleic acid, linoleic acid, or tall oil fatty acid. The dimer acid market includes the manufacturers of these acids, as well as the various industries that use them. This market is influenced by factors such as the demand for dimer acid in various applications (such as adhesives and paints), fluctuations in the availability and price of raw materials, and regulations regarding the use and disposal of these substances.
Asia Pacific region was anticipated to hold a prominent share of the global dimer acid market. A gradual expansion of the Asia-Pacific construction industry has led to a rise in the demand for dimer acid, used to make coatings and hot-melt adhesives. Moreover, the demand for adhesives has increased in China, India, and the ASEAN countries from other sectors. The building industry uses paints, coatings, and other resins for interior and exterior applications. The Chinese National Bureau of Statistics reports that the country’s building market has grown reasonably recently due to its superior resistance to climatic changes, including high temperatures, acid rain, and snow. A favorable expansion of the building industry has been seen throughout the Asia-Pacific region in developing nations like India and Singapore.
The global Dimer Acid Market is bifurcated into Application and Geography. Based on End-users the market is categorized into Alkyd Resins, Adhesives and Elastomers, Lubricants, Polyamide Resin, Fuel Oil Additives & Other Applications. Based on geography, the market is categorized as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Dimer Acid Market Drivers refer to the various factors that are propelling the growth of the dimer acid market. The increasing demand for dimer acids in a wide range of end-use industries, including adhesives, paints and coatings, oilfield chemicals, personal care products, and others is one of the major drivers of this market. Additionally, rising awareness about eco-friendly alternatives to conventional products has led to an increase in demand for bio-based dimer acids as they offer better performance characteristics while being environmentally sustainable. Furthermore, ongoing research and development activities aimed at improving the quality and properties of dimer acids are expected to drive growth in this market over the coming years.
Dimer Acid Market Top Trends:
- Growing Demand in Coatings and Adhesives: Dimer acids find extensive use in the production of coatings and adhesives. The market has witnessed increased demand due to the growing construction and automotive industries, which rely on dimer acid-based coatings and adhesives for their excellent durability, flexibility, and water resistance properties.
- Shifting Focus towards Sustainable and Bio-based Sources: The dimer acid market has seen a shift towards sustainable and bio-based sources of raw materials. Manufacturers are increasingly exploring renewable sources like vegetable oils, tall oil, and other bio-derived feedstocks to produce dimer acids. This trend is driven by the growing demand for environmentally friendly and bio-degradable products.
- Rising Demand in Personal Care Products: Dimer acids are utilized in the production of personal care products such as soaps, shampoos, and cosmetics. These acids provide emulsifying properties, stability, and improved lathering capabilities. The personal care industry’s focus on natural and sustainable ingredients has contributed to the increased use of dimer acids in this sector.
- Growing Applications in Lubricants and Greases: Dimer acids are used in the production of high-performance lubricants and greases. These products offer excellent oxidative stability, low-temperature performance, and shear stability. The demand for dimer acid-based lubricants is increasing in industries such as automotive, industrial machinery, and aerospace.
- Expansion in Emerging Markets: The dimer acid market has seen expansion into emerging markets, particularly in Asia-Pacific. Rapid industrialization, urbanization, and infrastructure development in countries like China and India have led to increased demand for coatings, adhesives, and lubricants, consequently driving the growth of the dimer acid market in the region.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Dimer Acid Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the basis of Application
- Major nations in each region with their import/export statistics
- The global Dimer Acid Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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