Future Market Insights has announced the addition of the " Dimethylolpropionic Acid (DMPA) Market in North America is Expected to Account for US$ 14.0 Mn by 2020 End " report to their offering
Valley Cottage, NY -- (SBWIRE) -- 07/11/2019 -- Future Market Insights (FMI) delivers key insights on the global dimethylolpropionic acid market in its upcoming report titled "Dimethylolpropionic Acid (DMPA) Market: Global Industry Analysis and Opportunity Assessment 2015–2020". The global Dimethylolpropionic Acid (DMPA) market is projected to expand at a CAGR of over 8% during the forecast period (2015–2020), largely due to increasing demand for polyurethane dispersions, regarding which FMI offers vital insights in detail in this report.
On the basis of application, the market has been segmented into polyurethane dispersions, resin coatings and others. The polyurethane dispersions applications segment is estimated to remain the largest application area for DMPA, accounting for over 80% share of global consumption in 2014. DMPA is most widely used in Polyurethane Dispersions (PUDs) in order to improve hydrophilic properties of polyurethane polymer. PUDs is further used in applications such as adhesives, glass fiber sizing, automotive topcoats, wood finishing and other such applications.
Resin coatings is another application which consumes substantial amount of DMPA. DMPA is used in water soluble alkyd resins and polyester resins for improved hydrolytic stability, minimal coupling solvent. DMPA improves early water spot resistance in air dried resins. Consumption of DMPA in both polyurethane dispersions and resin coatings application is projected to expand at CAGR in between 7% to 10% through the forecast period. The others segment, which includes powder coatings, electrode position coatings, epoxy ester coatings and print inks is expected to expand at a moderate CAGR of 5.4% during the forecast period and is expected to account for over US$ 6 Mn by the end of 2025.
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Growth of the global DMPA market is mainly driven by increasing demand for polyurethane dispersions along with that for polyester and alkyd resin. Moreover, increasing demand for eco-friendly products and functional finishes are other factors driving growth of the DMPA market. According to FMI analysis, growth in polyurethane dispersions industry, especially in developing economies, coupled with intensifying penetration of powder coating in the automobile industry is bolstering demand for DMPA.
Automotive industry is the fastest growing end-user of powder coating, owing to which demand for powder coating is projected to increase at a CAGR of 6.5% during the forecast period. This in turn, is expected to fuel demand for DMPA.
This report covers trends that are driving growth of each segment and the respective sub-segments and offers analysis and insights on the potential of the Dimethylolpropionic Acid (DMPA) market in specific regions. APEJ is expected to dominate the Dimethylolpropionic Acid (DMPA) market, accounting for over 36% share of the overall market by the end of 2015, and is anticipated to remain dominant till the end of 2025. Western Europe is estimated to be the second-largest market, accounting for over 22% of market share by the end of 2015. Japan is estimated to account for over 8.9% share of the total DMPA market by the end of 2015. The APEJ market is anticipated to expand at the highest CAGR during the forecast period, followed by Eastern Europe, due to increasing investment and economic development in these regions.
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Key players in the global Dimethylolpropionic Acid (DMPA) market include Geo Specialty Chemicals, Inc., Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi NanchengHongdu Chemical Technology Development Co., Ltd., Shenzhen Vtolo Chemicals Co., Ltd. Currently, major participants, such as Geo Specialty Chemicals, Inc. and Perstorp Speciality, are mainly focusing on business expansion in emerging regions in order to enhance their global presence. Moreover, these key players are focusing on expanding their chemical portfolio through various strategic acquisitions and mergers. For example, since its establishment, Geo Speciality Chemicals Co., Ltd has acquired over 15 companies, which include Rhône Poulenc, Courtney Industries Inc., Cytec Industries, Henkel North America and Mallinckrodt Inc.