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Dimer Acid Market in Oilfield Chemicals Application Is Forecast to Surpass USD 360 Million by 2023

Dimer Acid Market to Cross US$ $2.26bn By 2023 | BASF, Arizona Chemical, a Kraton Company, Croda, Oleon And 12 Other Companies Profile


Sellbyville, DE -- (SBWIRE) -- 03/11/2019 -- Dimer Acid market may surpass USD 2.2 billion by 2023 according to this new research report. Rising demand of polyamide resin owing to increase in construction activities may stimulate global dimer acid market growth. Economic growth and rapid urbanization along with increased infrastructural activities in India, China, Russia, Brazil, South Africa and Mexico may fuel dimer acid market growth. Increase in manufacturing industries including chemicals, automotive, electronics and metal foundry may enhance industrial infrastructure growth.

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Rising crude oil and natural gas production may enhance product growth for specialty oilfield chemicals. Growth in natural gas extraction and production activities may stimulate dimer acid market growth. Natural gas is preferred over conventional source of energy such as diesel, gasoline, coal and liquefied petroleum gas owing to its low carbon emission. U.S. had production of natural gas of over 20 trillion cubic feet in 2015. China estimated to have production of over 315 billion cubic meters by 2023 to meet the energy demand and reduce the usage of conventional sources like coal.

Increase in construction activities in China, India and Brazil may enhance product growth. India and China contributed over USD 420 billion and USD 1.5 trillion towards construction activities in 2015 which is likely to have positive impact on product growth over the projected period. Growing construction activities such as hydropower, roads & highways, urban transportation, residential real estate and commercial buildings in South Asia and Europe may further stimulate global dimer acid market growth rate.

Nonreactive polyamide resins application may surpass USD 930 million by the end of forecast period. Increasing demand for solvents from industries such as paper coatings, printing inks and adhesives may boost global dimer acid market growth.

Reactive polyamide resins application may register gains of over 4.5% by 2023. These resins are utilized as curing agents for epoxy resins used in adhesives & surface coatings. Increasing demand for adhesives & surface coatings in construction and marine industry may drive global dimer acid market.

Oilfield chemicals application from dimer acid may exceed USD 360 million by the end of foreseeable timeframe. The chemicals have wide range of application in oil & gas extraction. Increasing oil & gas production across U.S., Russia and OPEC countries may boost product demand.

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Asia Pacific, driven by China, India and Indonesia dimer acid market may witness gains of over 5% by 2023. Rising infrastructure activities in Indonesia, India and China may stimulate regional demand. Shale gas production in China will also push regional demand. Low manufacturing costs coupled with easy raw material availability may aid regional industry growth.

Global dimer acid market share is fairly consolidated with prominent players including BASF, Nissan Chemical, Croda, Arizona Chemicals, Aturex Group, Jiangsu Yonglin oleochemical, Harima, Novepha, Oleon and Florachem.

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