According to analysts at Vantage Market Research, the dimer acid market is expected to reach USD 12.85 Billion by 2028, growing at a CAGR of 15.3% from 2021 to 2028. With the increase in the application of polyamide resins and usage of adhesives and fuel, oil additives have been driving the market in recent times. The use of dimer acid to manufacture alkyd resins for paintings and coatings in the construction industry has grown over time and has fuelled the dimer acid market over time.
Dimer Acid Market Key Findings
- The non-reactive polyamides segment is projected to expand the fastest over the forecast period owing to the increasing application and use of dimer acid.
- The standard segment held a market share of around 45.8% in 2020. This share is further expected to grow as dimer acid is used in printing inks and many other applications of it are being worked on.
- Asia Pacific region is poised to record the highest CAGR at 17.36% from 2021 to 2028, owing to the increasing use of dimer acid in the printing and inks industry. Countries, such as India, China, and Japan, coupled with the growth of the region's overall construction market.
Some of the key players in the Dimer acid market are Novepha, Jiangsu Yonglin, Wilmar, Hubei Weidun, Florachem, Nissan Chemical, Aturex Group, Anqing Hongyu Shandong, Anqing Juyuan, Arizona, Jiangsu Yonglin, Emery, Yongzai., among others. The market is comprised of a high degree of competition due to the presence of numerous key players. Manufacturers are focusing on opting for various inorganic growth strategies such as acquisitions, mergers, and geographical expansion to leverage their market share and gain a competitive advantage.
Dimer acids are used primarily for the synthesis of polyamide resins and polyamide hot melt adhesives. They are also used in alkyd resins, adhesives, surfactants, fuel oil additives, lubricants, etc. which are facilitating the market growth. A dimer is an oligomer consisting of two monomers joined by bonds that can be strong or weak, covalent or intermolecular. The term homodimer is used when the two molecules are identical (e.g. A–A) and heterodimer when they are not (e.g. A–B). Dimer Acid is used primarily for the synthesis of polyamide resins and polyamide hot melt adhesives. New Technologies are being tried and tested for improving the productivity of Dimer Acid. The dimer acid sector is expected to witness variations in the raw materials price, for instance, cottonseed oil, rapeseed oil, and soybean oil which can restrict the market growth in the coming years.
North America region's highest market share is 29.31% in 2020 and is forecasted to grow at a CAGR of about 12.1% from 2021 to 2028, owing to the increasing application of dimer acid. The dimer acid is expected to witness variations in the raw materials price, for instance, cottonseed oil, rapeseed oil, and soybean oil which can restrict the market growth in the coming years. However, the advent of domestic versions has brought down the prices, which is expected to drive the deployment.