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Dimer Acid Market to observe high growth by 2024
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The major application of dimer acids is in manufacturing polyamide resins which are used in inks and coatings and adhesives among others. The other areas of application of dimer acids include reactive and non-reactive polyamides for epoxy resins, fuel additives, synthetic lubricants, polyol esters, alkyd resins, corrosion inhibitors, personal care and oil field drilling muds among others.
Growing demand for dimer acids for manufacturing polyamides is the major factor driving the global dimer acid market. Increasing demand from the automobile industry is another factor generating scope for growth of global dimer acid market. Moreover, increasing demand from the end-user industries such as inks and coatings, adhesives and oil and petroleum industries is also expected to boost demand for dimer acids in the near future.
However, the limitation to the growth of global dimer acid market is due to low availability of feedstock such as C18 tall oil fatty acid. This tall oil is a result of kraft wood pulping operations. Major production of dimer acids is carried out from tall oil fatty acids. This factor is expected to hamper the growth of global dimer acid marker in the near future.
The environmental friendly nature of dimer acids has led to its application in wide range of applications in various end-user industries. Growing opportunities from the automobile industry for corrosion inhibitors, personal care and cosmetics and flexographic ink industry are expected to boost market demand for dimer acids in the developing as well as developing economies in the near future.
North America, Europe, Asia Pacific and Rest of the World (RoW) are the major segments for global dimer acids market. Asia Pacific is expected to consume large volume of dimer acids owing to the growing demand from the adhesives industry in the region. Other industries such as personal care and cosmetics and lubricant industry is also expected to fuel demand for dimer acids in the region. North America and Europe are also expected to boost demand for dimer acids due to the rising demand from the other end-user industries in the regions.
The key players profiled for global dimer acid market include: Anqing Juyuan Polymer Technology Co., Ltd., Anqing Hongyu Chemical Co., Ltd, Aturex Group, Arizona Chemical Company, LLC, BASF SE, Harima Chemicals Group, Inc, Jiangsu Jinma Oil Technology Development Co., Ltd., Croda International, Jiangsu Yonglin Chemical Oil Co., Ltd, Kodia Company Limited Company, ,Jiangxi Longwell Industrial Co.,Ltd, Shandong Huijin Chemical Co., Ltd , Jiangxi Yichun Yuanda Chemical Co.,Ltd, Tianmen Chengxin Chemical Co., Ltd. Company, Jiujiang Lishan Environmental Protection Technology Co.,Ltd, Cognis Corporation, Florachem, CHEMICAL ASSOCIATES, Hexion Specialty Chemicals and Liancheng baixin science and technology Co., Ltd., among others.
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