ID: MRFR/CnM/4413-HCR | February 2021 | Region: Global | 100 pages
Dimer Acid Market is expected to grow at Significant CAGR from 2019 to 2023 as per MRFR Analysis
Dimer acid is a yellow, viscous, and transparent liquid made by dimerizing unsaturated fatty acids on clay catalysts. Its molecular formula is C36H68O4. Unsaturated fatty acids are obtained from natural sources such as oleic acid, canola oil, tallow, cottonseed, tall oil, and rapeseed oil. Dimer acid is also known as dimerized fatty acids and 36 dimer acids. It is non-toxic and eco-friendly. It offers excellent properties to the polymer such as excellent elasticity, flexibility, high impact strength, hydrolytic stability, thermal stability, hydrophobicity, and lower glass transition temperatures.
Dimer acid is widely used to synthesize polyamide resins. The polyamide resins are of two types reactive polyamide and nonreactive polyamide. The reactive polyamide is widely used as a curing agent for epoxy resin for thermosetting surface coating, adhesives, potting materials & lining, molded resin, marine coating, heavy duty coating, and others. The nonreactive polyamide is used for producing hot melt adhesives and printing inks.
Dimer acid is also used in oilfield application as a corrosion & scale inhibitor, wetting agents, surfactants, and demulsifier. Moreover, it is used in cosmetics & personal care products such as in hair color products, depilatory wax removal products, and to make safer nail polishes.
Rapidly growing construction industry boost the demand for adhesives, sealants, surface coating, paint & inks and thereby it is expected to ensure stable revenue source for dimer acid market. Additionally, increasing number of drilling activities across the globe to meet excess energy demand is expected to boost the demand for oilfield chemicals, which positively impact the global dimer acid market. Furthermore, the cosmetics application is expected to fuel the dimer acid market to a large extent.
However, on account of raw material shortage, growing use of unsaturated fatty acids for biofuels synthesis is expected to hamper the dimer acid market. Furthermore, continued use of conventional chemical-based adhesive due to less consumer awareness is likely to affect the dimer acid based eco-friendly adhesives market negetively.
Global Dimer Acid Market, by application 2017, (%)
The Global Dimer Acid market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Asia Pacific is leading the regional landscape owing to high demand from the construction industry for hot melt adhesives, normal adhesives, surface coatings, sealants, and paints among others. Additionally, rising energy demand is expected to increase the consumption of oilfield chemicals in Asia Pacific region, particularly in China. Furthermore, growing trends of using bio-based cosmetics are expected to show rising demand for dimer acid from the cosmetics industry.
The Middle East is following the Asia Pacific in terms of market consumption and is expected to witness a significant growth for dimer acid over the forecast period. Ongoing infrastructural projects were taken up by the Middle East government to flourish tourism industry is expected to boost the demand for adhesives, sealants, surface coatings, paints, which is likely to impact the growth of dimer acid market positively. Additionally, the demand for oilfield chemicals is expected to show a steady growth during the forecast period due to the high concentration of oilfield reserves in the region.
North American and European markets are relatively mature and are expected to show a considerable demand over the forecast period owing to high construction spending, especially for renovation activities.
Latin America is expected to show a moderate demand for dimer acid, particularly in Mexico and Brazil, due to ongoing construction activities.
Some of the prominent players operating in the global dimer acid market are Shandong Huijin Chemical Co. Ltd (China), Croda International Plc (U.K.), Oleon Corporate M&S (Europe), Anqing Hongyu Chemical Co., Ltd(China), Florachem Corporation. (U.S.), Emery Oleochemicals (Malaysia), Jinan tongfa resin Co. Ltd. (China), Krayton Corporations (U.S.), Aturex Group (China).
The global dimer acid market is segmented by product type, application, end-use industry, and region.
On the basis of the end-user industry, the global dimer acid market is segmented into construction, oilfield, cosmetics industry, and others.
On the basis of the region, the global dimer acid market is segmented into Asia Pacific, North America, Europe, Latin America and the Middle East & Africa.
Frequently Asked Questions (FAQ) :
Dimer acid is a yellow, viscous, and transparent liquid made by dimerizing unsaturated fatty acids on clay catalysts. Its molecular formula is C36H68O4.
Dimer acid is mainly used to synthesize polyamide resins, among other applications.
Growing demand from the construction and oil and gas industries is the major driver for the dimer acid market.
Asia Pacific is the leading regional market due to the growing demand for adhesives, coatings, and other formulations from the construction industry.
Leading players in the dimer acid market include Shandoing Huijin Chemical, Croda, and Oleon, among others.