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.
Europe Dimer Acid Market size, by application, 2012-2023 (Kilo Tons)
Alternate means used to obtain energy as compared to traditional transportation fuels like LPG(liquefied petroleum gas), gasoline and diesel is a key aspect promoting natural gas mining activities. Growing natural gas mining events are predicted to favorably affect industry growth. Key raw substances utilized in producing dimer acid are soy oil, tall oil, cotton oil, rapeseed oil and sunflower oil. Low supply of any of these substances can hinder dimer acid market price trends.
The industry is segmented into various dimer acid application like oilfield chemical application, reactive polyamide resin application and nonreactive polyamide resin application. Oilfield chemical segment is predicted to cross $360 million mark by end of 2023 and predicted to register CAGR of more than 6.5%. These chemicals are widely used in gas extraction. Rising shale gas discovery and output in countries like China and U.S. can drive industry demand.
Reactive polyamide resin segment is predicted to register CAGR of more than 6.5% in revenue terms and witness maximum monetary gains. Rising demand for surface coatings & adhesives in construction and marine sector can stimulate segment demand.
Nonreactive polyamide resin segment produced revenue of more than $560 million for 2015. Increasing demand for solvent from industries like paper coatings, printing inks and adhesives can drive industry growth for these applications.
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.
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 industry players profiled in the report include Croda International, Emery Oleochemicals, Jarchem Innovative Ingredients, Harima Chemicals, Anqing Hongyu Chemical Company Limited, Jiangsu Yonglin Oleochemical Company Limited, Novepha Company Limited, BASF, Arizona Chemicals, Aturex Group, Liancheng Baixin Science & Technology Company Limited, Shangdong Huijin Chemical Company Limited, Florachem Corporation, Jiangxi Yichun Yuanda Chemical Company Limited, Oleon N.V and Nissan Chemical America Corporation.
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Written By : Dhananjay Punekar