NEW YORK, March 16, 2022 (GLOBE NEWSWIRE) -- The global dimer fatty acid market was valued at US$ 559.1 Mn in 2021. Increase in R&D investments to find better production methods of dimer fatty acid is expected to propel sales of the chemical at 3.8% CAGR through 2031.
Rising demand for dimer fatty acids to be used in hot melt adhesives, along with increasing construction spending to improve local infrastructure, will continue pushing sales of dimer fatty acid. Besides, demand for inexpensive pure chemicals is creating lucrative growth prospects for dimer fatty acid suppliers. Surge in the production of oilfield chemicals to meet growing consumer demand is also expected to provide an impetus dimer fatty acid consumption and urge manufacturers to boost their production and supply of the material.
As per our regional analysis, China is anticipated to dominate the global market. High growth can be attributed to the presence of many regional and local manufacturers of dimer fatty acid in the country. Dimer fatty acid manufacturers in China are expending in increasing their production capacities, forecasting huge demand for the same over the coming years.
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Key Takeaways from Market Study
- By product type, standard dimer fatty acid accounted for more than 60% market share in 2021.
- Sales of standard dimer fatty acid applied in non-reactive polyamides held around 40.9% of the global market share in 2021.
- The U.S. held a dominant share of 87.4% of the North America dimer fatty acid market in 2021.
- China will remain as a lucrative market, creating an incremental opportunity of US$ 81.2 Mn by 2031.
- Germany is projected to account for 24.5% of the European market share in 2031.
- China and Japan held 24.4% and 3.8% of the global dimer fatty acid market share, respectively, in 2021.
“Increasing demand for distilled & hydrogenated dimer fatty acid and polyamide resins, coupled with rise of the paints & coatings industry, will provide growth potential to market players over the coming years,” says a Persistence Market Research analyst.
Competitive Landscape
Leading manufacturers of dimer fatty acid include Kraton Corporation, Croda International Plc., Oleon NV, Jiangsu Yonglin Oleochemical Co., Ltd., Jiangxi Longwell Industrial Co., Ltd, Aturex Group, Shandong Huijin Chemical Co. Ltd, Emery Oleochemicals, Florachem Corporation, and Jiangsu Jinma Oil Technology Development Co., Ltd.
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Key market participants are investing in strategic business agreements and are focusing on the expansion of their global footprint through the construction of new production units. Apart from this, players are increasing investments in research & development to find better production methods of dimer fatty acid.
- For instance, in June 2018, Oleon NV opened a new production unit in Belgium to produce dimer and isostearic acids, which is expected to double the company’s worldwide market share within the product segment of dimers and acids to around 30%.
Conclusion
The global business of dimer fatty acid is projected to witness a significant growth rate owing to the growing paints & coatings market and increasing infrastructural investments.
Increasing demand for inexpensive pure chemicals is expected to continue pushing the sales of standard dimer fatty acid. Furthermore, rising demand for high-quality products for surface coatings, printing inks, adhesives, and oilfield chemicals will provide various opportunities to the key players for further growth in the market.
Several stakeholders are focusing on strategic expansions and partnerships to increase their global footprint. They are also increasing investments in R&D to cater to growing demand from end-use industries.
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More Valuable Insights Available
Persistence Market Research, a research and consulting firm, has published a new market research report on the global dimer fatty acid market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, product type, application, and region. The report also provides supply and demand trends along with an overview of the parent market.
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