The dimer acid market is estimated to be valued at US$331.627 million in 2019 to reach US$433.177 million in 2026 and is projected to grow at a CAGR of 3.89% during the forecast period.
The rising E&P activities across the global oil and gas sector are one of the major drivers of the dimer acid market. Also, the use of dimer acid in applications such as industrial coatings, flooring grouts, trowel coatings, and epoxy-based adhesives are expected to propel the market demand, globally. An increasing number of drilling activities worldwide to meet booming energy demand is positively impacting oilfield chemicals demand which, in turn, is spurring the demand for dimer acid in the market. In addition, the wide applications in oil and gas extraction and processing activities that use dimer acid as a raw material include corrosion & scale inhibitors, wetting agents, surfactants, and demulsifiers will further bolster the market demand over the next few years. The rapid urbanization in countries such as China, India, Russia, Brazil, and South Africa has accelerated the need for better residential and public infrastructure in the countries. The high investments across the construction industry, both public and private, to develop the infrastructure will continue to support the growth of the dimer acid market during the forecast period. Subsequently, the flourishing construction industry nationwide uses dimer acid for multiple uses such as in paints, coatings, lubrication, interior, and exterior decoration, etc. will accelerate the demand for dimer acid. According to the World Bank, 2020, the expenditure of the construction industry is expected to reach approximately USD 11.9 trillion, with an increase of about 4.2% from the previous year. Such investments will contribute to the market growth during the forecast period. The expanding demand for marine coatings and maintenance due to the growing shipping industry and expanding water transport will further drive the growth of the dimer acid market in the years to come.
Moreover, the stringent government regulations regarding the use of high-VOC levels additives in paint and coating products in the past few years have led to an increase in the adoption of bio-based variants, such as dimer acid, which in turn will strengthen the market growth. Furthermore, the key market players have been launching new products, acquiring and merging with competitors, to remain competitive in the market which will further strengthen the market growth. For instance, in January 2019, Emery Oleochemicals expanded its distributor partnership with Omya Inc., to provide technical support to its United States-based customers for their green polymer additive products.
By application, the reactive polyamide resins are expected to hold a significant market share owing to the increasing demand for these resins, especially in the construction industry for epoxies and floor coatings, globally. Geographically, APAC will witness a significant l market growth on account of rising construction activities along with favorable regulations and government initiatives in the region which will fuel the demand for dimer acids for various applications.
The constant developments in the industries such as marine, construction, etc. in the Asia-Pacific region have surged the demand for dimer acid in the region, especially in countries like China and India which will drive the market growth during the forecast period. The increasing use of dimer acid in the construction industry for paints, coatings, and interiors and exterior applications will propel the market growth. According to the National Bureau of Statistics of China, the construction industry in the country has been growing decently in recent years. Also, the construction industry in developing countries, like India and Singapore, has been witnessing steady growth in the Asia-Pacific region which will further contribute to the market growth during the forecast period.
The Covid-19 pandemic negatively impacted the dimer acid market as due to the nationwide lockdown and the temporary suspension of business operations in various industries such as oil and gas, shipping, construction, etc. declined the demand for dimer acid in the market. Also, the dominant user of dimer acid is the construction industry which was one of the worst-hit industries as the ongoing construction projects had to be put to a halt and the new projects had to be postponed due to the lockdown and restrictions on labor which delayed all the construction projects across the globe, causing huge losses. This in turn declined the demand for dimer acid in the industry, thus negatively impacting the market growth. However, with the ease of restrictions, the market is expected to rebound during the forecast period.
The market leaders for the dimer acid market consist of Brenntag Specialties, Inc., Croda Coatings & Polymers, ATUREX, Shandong Huijin Chemical Co., Ltd., AnqingHongyu Chemical Co., Ltd., Florachem Corporation, Oleon Gmbh, Emery Oleochemicals, Jarchem Industries, Inc., and Kraton Corporation. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance, in June 2021, Brenntag, the global market leader in chemicals and ingredients distribution, acquired Storm Chaser Holding Corporation, for expanding its position in the North American industry.
|Market size value in 2019||US$331.627 million|
|Market size value in 2026||US$433.177 million|
|Growth Rate||CAGR of 3.89% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Application, Product, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Brenntag Specialties, Inc., Croda Coatings & Polymers, ATUREX, Shandong Huijin Chemical Co., Ltd., AnqingHongyu Chemical Co., Ltd., Florachem Corporation, Oleon Gmbh, Emery Oleochemicals, Jarchem Industries, Inc., Kraton Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the dimer acid market?
A1. The global dimer acid market is estimated to grow at a CAGR of 3.89% over the forecast period.
Q2. What will be the dimer acid market size by 2026?
A2. The dimer acid market is estimated to reach a total market size of US$433.177 million in 2026.
Q3. What is the size of the global dimer acid market?
A3. Dimer Acid Market was valued at US$331.627 million in 2019.
Q4. Which region holds the largest market share in the dimer acid market?
A4. Geographically, Asia Pacific will witness significant growth in the dimer acid market on account of rising construction activities along with favorable regulations and government initiatives in the region.
Q5. What factors are anticipated to drive the dimer acid market growth?
A5. The rising E&P activities across the global oil and gas sector are one of the major drivers of the dimer acid market.
Brenntag Specialties, Inc.
Croda Coatings & Polymers
Shandong Huijin Chemical Co., Ltd.
AnqingHongyu Chemical Co., Ltd.
Jarchem Industries, Inc.
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