The global dimer acid market was valued at USD 2.51 billion in 2024 and is projected to reach USD 4.15 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.47% during the forecast period.
Dimer Acid Market Overview:
The dimer acid market report provides a comprehensive analysis of the competitive landscape, including market share and company profiles of key players in the global industry. The scope of the research encompasses an in-depth examination of the dimer acid market, highlighting factors contributing to variations in the industry's growth across different regions.
Market Scope:
To validate and estimate the market size across various segments, both top-down and bottom-up methodologies are employed. Market estimates are based on the sale price, excluding any discounts offered by manufacturers, distributors, wholesalers, or traders. Percentage splits, market shares, and segment breakdowns are calculated using weights assigned to each segment based on their utilization rate and average sale price. Country-wise splits of the overall market and its sub-segments are determined by analyzing the percentage adoption or usage of the given market size in the respective region or country.
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Drivers:
The rising demand for bio-chemicals across end-use industries is a significant driving factor for the global dimer acid market. Dimer acid is produced from raw materials such as Vegetable Oil Fatty Acids (VOFA) and Tall Oil Fatty Acids (TOFA), making it biodegradable. Additionally, the growth in the coatings and inks industries contributes to the increased demand for dimer acid.
Segmentation:
The dimer acid market is segmented based on type and application. Key segments include:
-
Type:
- Standard
- Distilled
- Distilled & Hydrogenated
-
Application:
- Reactive Polyamides
- Non-Reactive Polyamides
- Oilfield Chemicals
- Others
In 2024, the Reactive Polyamides segment held a significant share of the global market and is expected to grow during the forecast period. The increasing manufacturing sector, trade, e-commerce, and demand for international shipping of non-consumer goods are major factors contributing to the growth of this segment in the global dimer acid market.
Key Players:
Leading companies in the dimer acid market include:
- BASF
- Corda International
- Oleon N.V.
- Harima Chemicals
These companies have been identified through secondary research, and their market revenues have been validated through both primary and secondary research methods. Secondary research involved reviewing annual and financial reports of leading manufacturers, while primary research included comprehensive interviews with key opinion leaders and industry specialists, such as experienced front-line personnel, CEOs, and marketing executives. Percentage splits, market shares, growth rates, and global market breakdowns have been calculated using secondary sources and verified through primary sources.
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Regional Analysis:
In 2024, the Asia-Pacific (APAC) region dominated the dimer acid market. The growing demand from the construction industry for hot melt adhesives, surface coatings, sealants, normal adhesives, and paint is a major growth driver in the APAC region. Additionally, rising energy demand due to high population results in increased consumption of oilfield chemicals.
COVID-19 Impact Analysis on Dimer Acid Market:
The COVID-19 pandemic has had a notable impact on the dimer acid market. From January 2020 to May 2020, several countries experienced a decline in growth in end-user sectors where dimer acid is utilized, due to operational halts amid the pandemic. This led to a substantial decrease in revenues for companies in these industries and a corresponding drop in demand for dimer acid manufacturers, thereby affecting the market's growth in 2020. The imposition of lockdowns and the surge in COVID-19 cases worldwide significantly reduced end-user business demand for dimer acid.
Key Questions Answered in the Dimer Acid Market Report:
- Which segment accounted for the most significant share of the dimer acid market in 2024?
- What is the competitive landscape of the dimer acid market?
- What are the key factors influencing dimer acid market growth?
- Which region holds the largest market share in the dimer acid market?
- What will be the CAGR of the dimer acid market during the forecast period (2025-2032)?
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