The growth of end use industries is expected to emerge as a major factor driving the global dimer acid market during the forecast period.
New York City, NY -- (SBWIRE) -- 03/08/2017 -- 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.
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The growth of end use industries is expected to emerge as a major factor driving the global dimer acid market during the forecast period. Moreover, steady economic growth in regions across the globe, especially in Asia Pacific is also likely to indirectly drive the growth of the global dimer acid market between 2015 and 2021.
Additionally, increasing demand for bio-based, green products, is expected to positively impact the global dimer acid market during the forecast period.
However, volatility in prices of dimer acids, primarily due to fluctuation in vegetable oil prices is likely to act as an impediment to the growth of the global dimer acid market between 2015 and 2021. The global dimer acid market is expected to grow from an estimated value of US$ 494.1 million in 2015to US$ 705.8 million by 2021, registering a CAGR of 6.2% during the forecast period.
Asia-Pacific is expected to dominate the global dimer acid market during the forecast period. It is slated to register CAGR of nearly 7.3% between 2015 and 2021.A relatively slower pace of growth is forecast to be exhibited by Europe and North America's dimer acid markets during the forecast period.
On the basis of applications, reactive polyamides segment is expected to witness growth at a faster pace, compared to other application based segments. In terms of product types, standard dimer acid segment accounts for a major share of the overall dimer acid market and is expected to dominate the market throughout the forecast period.
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BASF SE, Arizona Chemical Company LLC, Oleon NV are the foremost players of global dimer acid market. Other noteworthy players of the global dimer acid market are all China-based companies, including: Shandong Huijin Chemical Co. Ltd., Liancheng Baixin Science and Technology Co. Ltd., and Jiangsu Yonglin Oleochemical Co. Ltd., among the others.
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