New York, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Market Size & Overview:
The dimer market is poised for significant growth in the forecast period, primarily driven by the escalating demand for polyamide resins in the adhesives and coatings industries.
The dimer acids market achieved a valuation of USD 1.61 billion in 2023, with projections reaching USD 2.31 billion by 2030. This reflects a Compound Annual Growth Rate (CAGR) of 4.6% from 2023 to 2030. Beyond fundamental market metrics, such as value and growth rate, the market reports from offer comprehensive insights into segmentation, geographical coverage, and the key players in the industry.
A notable surge is expected in the "oilfield chemicals" application segment, characterized by its widespread use in oil and gas processing, extraction activities, as well as applications like well drilling, hydraulic fracturing, and refining. Market leaders are strategically focusing on ensuring easy access to raw materials and compliance with environmental regulations, thereby contributing to the anticipated growth throughout the forecast period.
These reports also encompass expert analysis, detailed production and capacity layouts of companies on a geographic basis, distributor and partner network configurations, as well as up-to-date analyses of price trends and a thorough examination of supply chain dynamics and demand deficits.
Request for SAMPLE copy of report: https://www.persistencemarketresearch.com/samples/4371
Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | USD 1.61 billion | |
| Estimated Revenue 2030 | USD 2.31 billion | |
| Growth Rate - CAGR | 4.6% | |
| Forecast Period | 2023-2030 | |
| No. of Pages | 190 Pages | |
| Market Segmentation |
| |
| Regions Covered |
| |
| Key Companies Profiled |
| |
Market Growth Drivers:
Increasing Demand for Polyamide Resins: The market is expected to experience robust growth due to a rising demand for polyamide resins in the adhesives and coatings industries. This demand is likely driven by the versatile applications of polyamide resins in various industrial processes.
Expanding Application in Oilfield Chemicals: The highest growth is anticipated in the oilfield chemicals segment, propelled by its extensive use in oil and gas processing and extraction activities. The applications in well drilling, hydraulic fracturing, and refining further contribute to the overall market growth.
Strategic Focus on Environmental Compliance: Major market players are directing their efforts towards ensuring compliance with environmental regulations. This strategic focus not only aligns with sustainability goals but also positions these players favorably in the market, contributing to overall growth.
Easy Access to Raw Materials: Market leaders are emphasizing the importance of easy access to raw materials. Streamlining the supply chain and ensuring a consistent supply of necessary inputs is expected to positively impact market growth during the forecast period.
Technological Advancements: The market may experience growth driven by technological advancements in dimer acid production and application processes. Innovations in manufacturing and application techniques can enhance the efficiency and effectiveness of dimer acid utilization, driving increased adoption.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at: https://www.persistencemarketresearch.com/market-research/dimer-acid-market.asp
Market Restraints:
Fluctuating Raw Material Prices: The market faces challenges due to the volatility in raw material prices. Price fluctuations can impact production costs and profit margins, posing a restraint on the overall growth of the dimer acids market.
Environmental Concerns: Despite efforts to comply with environmental regulations, concerns related to the environmental impact of dimer acids production and application could act as a restraint. Stringent regulations or increased awareness about environmental sustainability may affect market growth.
Intensive Capital Requirements: The production processes involved in dimer acids may require substantial capital investments. High capital requirements can be a barrier to entry for new players and may limit the expansion plans of existing companies, thereby restraining market growth.
Competitive Market Dynamics: The market's competitiveness may pose challenges for both new entrants and existing players. Intense competition can lead to price wars and reduced profit margins, impacting overall market growth.
Limited Awareness and Adoption: Limited awareness about the benefits and applications of dimer acids in certain regions or industries may hamper market growth. Education and awareness campaigns may be necessary to promote wider adoption and use of dimer acids.
Opportunities:
Growing Demand for Sustainable Solutions: The increasing focus on sustainability and environmentally friendly products presents an opportunity for the dimer acids market. Dimer acids, with their versatile applications and potential for eco-friendly production, can meet the demand for sustainable solutions in various industries.
Expanding Applications in Emerging Industries: Exploring and expanding applications of dimer acids in emerging industries, such as renewable energy, electric vehicles, and bioplastics, can unlock new growth opportunities. These industries often seek innovative and sustainable materials, and dimer acids can play a role in meeting these demands.
R&D Investments for Product Innovation: Continued investments in research and development can lead to product innovations, such as improved formulations, enhanced performance characteristics, or novel applications for dimer acids. These innovations can create a competitive edge and drive market growth.
Global Economic Recovery: A rebound in global economic conditions can spur demand for industrial inputs, including dimer acids. As industries recover and expand, there may be increased opportunities for the utilization of dimer acids in various applications.
Strategic Partnerships and Collaborations: Forming strategic partnerships and collaborations with other industry players, research institutions, or technology providers can open up avenues for market expansion. Collaboration efforts can lead to joint ventures, shared resources, and the development of new solutions.
Analyst’s Viewpoint:
From the analyst's perspective, the dimer acids market is poised for substantial growth driven by key factors such as the increasing demand for polyamide resins in the adhesives and coatings industries. The versatility of dimer acids, especially in applications like oilfield chemicals, well drilling, hydraulic fracturing, and refining, positions it as a vital component in various industrial processes.
The market is expected to witness a positive trajectory, with a projected CAGR of 4.60% from 2022 to 2029, as per Data Bridge Market Research. The emphasis on environmental compliance and the concerted efforts of major market players to ensure easy access to raw materials align with sustainability goals and are anticipated to contribute significantly to market expansion.
Furthermore, the comprehensive market reports provided by Data Bridge Market Research offer in-depth insights into crucial aspects such as market value, growth rate, segmentation, geographical coverage, and the strategies of major players. The inclusion of expert analysis, detailed production and capacity layouts of companies, distributor and partner network configurations, and a thorough examination of supply chain dynamics and demand deficits enhances the credibility and utility of these reports.
Key Recent Developments:
Growing Demand in End-Use Industries: Dimer acids find applications in various industries, including adhesives, paints and coatings, oilfield chemicals, and personal care products. Look for developments in these industries that might impact the demand for dimer acids.
Technological Advancements: Innovations in the production processes of dimer acids could lead to cost-effective methods or improved product quality. Keep an eye on any new technologies or methods emerging in the dimer acid manufacturing sector.
Market Expansion: Companies might be expanding their production capacities or entering new regional markets. Look for announcements related to capacity expansions, partnerships, or acquisitions in the dimer acid industry.
Sustainable Practices: With a growing emphasis on sustainability, developments in the dimer acid market may include the adoption of eco-friendly production processes or the introduction of bio-based dimer acids.
Regulatory Changes: Changes in regulations related to chemical manufacturing or environmental standards can significantly impact the dimer acid market. Stay informed about any regulatory updates that might affect the industry.
Global Economic Factors: Economic trends, such as changes in GDP, trade policies, and global market conditions, can influence the demand and supply dynamics of dimer acids.
Some of the market players:
- Kraton Corporation: Global producer of specialty polymers and high-value performance products for industries such as adhesives, coatings, and personal care.
- Croda International Plc: British specialty chemicals company, known for producing ingredients for personal care, healthcare, and various other industries.
- Oleon NV: Major producer of oleochemicals used in food, pharmaceuticals, plastics, and personal care industries.
- Emery Oleochemicals: Global manufacturer of natural-based chemicals, including fatty acids and derivatives, used in diverse industries.
- Florachem Corporation: Manufacturer of pine-based and citrus-based chemicals for applications in adhesives, coatings, and cleaning products.
- Jarchem Industries Inc.: Supplier of specialty chemicals, serving industries such as personal care, pharmaceuticals, and industrial applications.
- Aturex Group: Limited information available. Refer to the company's official sources for details.
- Shandong Huijin Chemical Co. Ltd: Chinese company involved in chemical production. Specific details may require access to recent corporate information.
- Liancheng Baixin Science and Technology Co. Ltd.: Chinese company engaged in the development and production of chemicals. Refer to recent corporate information for details.
Dimer Acid Market – Segmentation:
Product Types:
Standard: Standard dimer acids with typical properties, commonly used in various applications.
Distilled: Dimer acids that have undergone a distillation process, resulting in refined and specialized properties.
Distilled & Hydrogenated: Dimer acids subjected to both distillation and hydrogenation processes, enhancing their stability and performance characteristics.
Applications:
Reactive Polyamides: Used in the production of reactive polyamides, contributing to the formulation of resins, adhesives, and coatings.
Non-Reactive Polyamides: Employed in the synthesis of non-reactive polyamides, suitable for applications like plastics and fibers.
Oil Field Chemicals: Utilized in the formulation of chemicals for oilfield applications, including drilling fluids and production chemicals.
Key Regions:
North America: Dimer acids market presence and applications in North America, influenced by regional industrial demands.
Latin America: Market dynamics and application trends of dimer acids in Latin America's diverse industrial landscape.
Europe: Regional usage and market trends of dimer acids in the European market, reflecting diverse applications.
Asia Pacific: Dominance and emerging trends of dimer acids in the dynamic Asia Pacific market, driven by industrial growth.
Key Questions Answered:
- Which application of Dimer Acid will register highest value for market in 2023?
- How market forerunners are successfully cashing in on the attributes of dimer acid?
- What will be Y-o-Y growth of dimer acid market between 2019 and 2022?
- What rate of ROI can dimer acid’ manufacturers expect from its applications in non-reactive polyamides in next 5 years?
- What are the winning strategies of big shots in Dimer Acid Market?
- Which product type of dimer acid witnessed highest adoption in 2018?
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Persistence Market Research
Teerth Technospace, Unit B-704
Survey Number - 103, Baner
Mumbai Bangalore Highway
Pune 411045 India
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com
