Dimer Acid Market Size To Reach $1.90 Billion By 2020 : Radiant Insights,Inc
RadiantInsights.com includes new market research report on "Global Dimer Acid Market Size, Share And Trends Report To 2020 : Radiant Insights" to its huge collection of research reports.
San Francisco, Feb. 03, 2016 (GLOBE NEWSWIRE) -- The global Dimer Acid Market is expected to reach USD 1.90 billion by 2020. Increasing polyamide resins demand on account of high construction spending in Brazil, China, India and Mexico is expected to remain a key driving factor for global dimer acid market. Growing demand for oilfield chemicals on account of increasing drilling activities is also anticipated to have a positive influence on the market growth. Volatile price of key raw materials is expected to remain a key challenge for market participants.
Nonreactive polyamide resins were the leading application segment with 40% of total market volume in 2013. Reactive polyamide resins are expected to witness highest growth rate over the forecast period on account of its increasing demand in construction and marine coatings. Growth of infrastructure industry in emerging markets of Asia Pacific and Latin America is expected to drive reactive polyamide resins demand.
Global dimer acid market demand was 426.4 kilo tons in 2013 and is expected to reach 576.4 kilo tons by 2020, growing at a CAGR of 4.4% from 2014 to 2020.
Asia Pacific emerged as the largest regional market with over 35% of total consumption in 2013. Increasing infrastructure spending in China, Indonesia and India is expected to drive the regional market. China's push for shale gas exploration and oil production is expected to further drive demand in the region. Asia Pacific is also expected to be the fastest growing regional market, at a CAGR of 5.2% from 2014 to 2020.
Easy availability of key raw materials such as palm oil in Malaysia and Indonesia coupled with low production costs have resulted in emergence of small scale manufacturers in China. Major companies have been steadily expanding their presence in the region in order to cater to growing regional demand and expand their footprint in the global market. These trends are expected to positively impact the regional production landscape.
European dimer acid market is expected to reach a market worth USD 612.1 million by 2020, growing at a CAGR of 6.6% from 2014 to 2020. Increasing oil & gas production in Eastern Europe, particularly in Russia, is expected to drive the regional market.
The global market is moderately concentrated with top MNCs which have presence across the value chain. Leading companies such as BASF, Emery Oleochemicals, Arizona Chemicals and Oleon N.V. accounted for close to 50% of total market in 2013. Major companies have been actively involved in M&A and joint venture agreements with small scale producers in order to strengthen their market presence. Major companies operating in the global market include BASF, Arizona Chemicals, Croda International, Oleon N.V., Florachem, Emery Oleochemicals and Anqinig Hongyu.
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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