Global Dimer Acid Market to Reach $1.59 Billion by 2034 with a 5.1% CAGR Growth

Adoption of Dimer Acid Gaining Traction Due to Shift toward Renewable Raw Materials with Reduced VOC Emissions: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 19, 2024 /EINPresswire.com/ -- According to a new report by Fact.MR, revenue from the global dimer acid market is expected to reach US$ 967.2 million in 2024 and is forecasted to increase at 5.1% CAGR from 2024 to 2034. The main contributor to dimer acid market growth is the manufacturing business of inks and coatings.

Due to the imposition of strict guidelines to reduce VOC emissions from regulatory organizations such as the Environment Protection Agency (EPA) continue to from products used in industries and household products, manufacturers of dimer acid are being forced to use additives that comply with local regulations.

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Dimer acid is rapidly taking the lead as the material of choice for several applications, even as industries shift toward using products based on acids derived from renewable raw materials. Oilfield chemicals are used extensively in well drilling, refining, hydraulic fracturing, and the extraction and processing of oil and gas. The demand for oilfield chemicals and dimer acid is also expected to benefit from the increasing number of drilling operations taking place worldwide to meet the excess energy demand.

Key Takeaways from Market Study:

The global dimer acid market is likely to carve out a promising growth trail and is projected to grow at a compound annual growth rate of 5.1% during 2020-2034. In terms of value, this sturdy growth is likely to push the market worth towards US$ 1.59 billion by the end of 2034. Among these, the United States accounted for a market value of US$ 86.4 million in 2024 and continues to hold a prominent position in the global market.

In the East Asia region, China is the dominant force, holding a 54.6% market share in 2024. This huge percentage share depicts the lead role that China is poised to take in the dimer acid market across East Asia. In terms of value, Japan's market is projected to amount to US$ 65.9 million in 2024, portraying the regional importance towards the global landscape. The whole East Asia market is likely to rise with a CAGR of 5.6% by 2034, much above the global average and underscoring dynamic growth potential for the dimer acid market in the region.

“Dimer acid is extensively used in oilfield chemical production, as drilling activities increase to meet the global energy demand. In addition, utilization of dimer acid in marine coatings, construction materials, and hot melt adhesives is contributing to market expansion,” says a Fact.MR analyst.

Growing Demand for Distilled and Hydrogenated Dimer Acid across Sectors

Production of nylon resins and fibers requires distilled and hydrogenated dimer acid, which enhances the materials' mechanical properties and expands the market for polyamide resins. In synthetic polymer applications, it serves as a reactive monomer that makes it easier to create high-performance coatings, adhesives, and elastomers. In the metal processing sector, it is added to metalworking fluid to increase lubricity and corrosion resistance. It is also used in other industries, like the formulation of corrosion inhibitors, where its unique properties are advantageous.

Competitive Landscape

The key players participating in this competitive arena of the dimer acid market are Oleon NV, Emery Oleochemicals, Aturex Group, Jarchem Industries Inc., Liancheng Baixin Science, Jiangsu Jinma Oil Technology Development Co., Ltd., Jiangsu Yonglin Oleochemical Co., Ltd., Jiangxi Longwell Industrial Co., Ltd., Jinan Tongfa resin Co., Ltd., Florachem Corporation, and Kraton Corporation.

Recently, Kraton Corporation, one of the largest global producers of specialty polymers and high-value biobased products from by-products of pine wood pulping, has made some developments. The manufacturing facility in Panama City, Florida, invested US$ 35 million in upgrading its crude tall oil biorefinery towers. With that investment, Kraton Corporation placed itself at the forefront of innovation and sustainability for its industry.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the dimer acid market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges the dimer acid market based on product type (standard, distilled, distilled & hydrogenated) and application (reactive polyamides, non-reactive polyamides, oil field chemicals), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

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