Dimer acids also referred to as dimerized fatty acids, are a class of dicarboxylic acids obtained by clay catalysed dimerization of unsaturated fatty acids (C18).
New York, NY -- (SBWIRE) -- 03/04/2016 -- According to a new market report published by Persistence Market Research "Global Market Study on Dimer Acid: Distilled and Hydrogenated Segment to Witness High Growth by 2021", the global market for dimer acids valued at an estimated US$ 494.1 million in 2015, and is expected to expand at a CAGR of 6.1% from 2015 to 2021, to reach a market value of US$ 705.8 Mn by 2021.
Dimer acids also referred to as dimerized fatty acids, are a class of dicarboxylic acids obtained by clay catalysed dimerization of unsaturated fatty acids (C18). The unsaturated fatty acids that form the raw material for dimer acids are obtained from vegetable sources such as rapeseed oil, cottonseed oil, and tall oil among others.
Global dimer acid market is expected to register a steady CAGR of 6.2% over the forecast period from 2015 to 2021, to reach a market value of US$ 705.8 million by 2021.
Drivers and Trends
Dimer acids and dimer acid based products find application across industries such as adhesives, paints & coatings and oilfield chemicals, etc. These end use industries are expected to witness a steady growth over the forecast period; this is likely to drive the growth of global dimer acid market between 2015 and 2021. Moreover, steady economic and industrial growth in developing regions such as Asia-Pacific is expected to be a major factor driving the growth of the global dimer acid market over the forecast period.
The price of dimer acids is determined by the price of vegetable oil, which is prone to fluctuations, resulting in volatility of dimer acids prices. This price volatility is likely to act as an impediment to the growth of the global dimer acid market during the forecast period.
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The global dimer acid market into key segments based on product types, geographic regions, and application types. Depending on the type of product, the global dimer acid market is composed of three segments namely, standard, distilled, and distilled & hydrogenated. On the basis of applications, the market is segmented into reactive polyamides, non-reactive polyamides, oilfield chemicals, and others segments. Finally, on the basis of geographic regions, the overall dimer acid market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Analysis by Region
Amongst the aforementioned region based segments of the global dimer acid market, Asia Pacific is expected to register an accelerated CAGR of nearly 7.3% during the forecast period. The region is expected to account for a majority share of nearly 33.5% of the global dimer acid market value by the end of the forecast period. Its share of dimer acid consumption, in terms of volume, is expected to reach nearly 38% by 2021. The mature markets, namely, Europe and North America are slated to witness a relatively slower pace of growth, in terms of market value, registering a CAGR of 5.8% and 5.1% respectively.
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