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Dimer Acid Market Forecasted to Cross US$ 711 Mn by 2025
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The focus remains on offering a wider-rang of application-specific products with higher purity standards. Kraton Corporation, Croda International Plc., Oleon NV, Emery Oleochemicals, Florachem Corporation., Jarchem Industries Inc., Aturex Group, Shandong Huijin Chemical Co. Ltd, Shandong Huijin Chemical Co. Ltd, Shandong Huijin Chemical Co. Ltd, Jiangsu Yonglin Oleochemical Co., Ltd., Jiangxi Longwell Industrial Co., Ltd., and Jinan Tongfa resin Co., Ltd are some of the leading companies operating in the global dimer acid market. Many of these companies are entering into agreements with local suppliers to strengthen supply chain, at the same time emphases is also given to expanding production capacity.
Global consumption of the standard dimer acid is estimated to reach 211,097 MT by the end of forecast period. In recent years, consumption of standard dimer acid has been substantially high in Asia Pacific. Demand for distilled & hydrogenated dimer acid is also expected to increase at a noteworthy pace owing to its superior quality standard and high resistance to oxidation and heat. This product type segment is projected to register relatively faster CAGR as compared to standard and distilled segments.
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By application, the non-reactive polyamides resins segment is expected to account for a 41.7% value share of the global dimer acid market by 2017-end. Dimer acid based non-reactive polyamides are used in the production of inks and adhesives, whereas the reactive polyamide variants are used in the production of epoxy curing agents and polyurethanes. Growth in construction sector and other end use sectors, such as packaging, and automotive is expected to fuel the demand for dimer acids during the forecast period.
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By 2017-end, Asia Pacific (APAC) is expected to account for the largest value share of the global dimer acid market, followed by Europe and North America respectively. Surging demand for dimer acid in countries such as China and India is favoring the prospects of the market in the region. In addition, China’s leadership in the APAC’s dimer acid market is expected to remain unchallenged throughout the assessment period. The growth of various end-use industries in several other Asian countries is also resulting in higher demand for dimer acid in the region.
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