The global hydrogenated dimer acid market is projected to grow at a steady CAGR of around 3.5% to 5.0% between 2022 and 2032. With growing adoption of hydrogenated dimer acid in various applications, the overall sales are projected to rise at a considerable rate during the forecast period.
| Report Attribute | Details |
| Hydrogenated Dimer Acid Projected Growth Rate (2022-2032) | 3.5%-5.0% CAGR |
Hydrogenated dimer acid is a commonly used fatty acid with 36 carbon atoms. It consists of cyclohexane ring synthesized by clay-catalyzed dimerization at specific temperatures. It is generally synthesized from naturally occurring unsaturated fatty acids.
Hydrogenated dimer acid is being increasingly utilized for the production of polyamide resins, polyamide hot melt adhesives and several other essential products. These products possess higher mechanical strength and lower glass transition temperature (Tg). Growing demand for these products is providing a major impetus to the growth of hydrogenated dimer acid market.
Use of hydrogenated dimer acid enhances the heat stability, hydrophobicity and corrosion resistance of final products. This ability of hydrogenated dimer acid to modify and enhance the features of end products will continue to act as a catalyst for the market growth.
Similarly rising adoption of hydrogenated dimer acid in printing inks will further boost the growth of market in the future. Addition of this acid provides relatively higher gloss and enhanced substrate adherence to the inks.
Additionally, rising application of hydrogenated dimer acid in lubricants, polyester resins, surface coatings and several other products will bode well for the market in future.
Rising application of polyamide resins and growing popularity of hot melt adhesives are some of the major factors driving the hydrogenated dimer acid market.
Hydrogenated dimer acid has become an ideal substance for the synthesis of polyamide holt melt adhesives. These adhesives are being rapidly adopted across various end-use industries due to their various advantages over conventional adhesives.
Hot melt adhesives are cost effective, possess high thermal stability and chemical resistance, offer superior bonding, and significantly reduce VOC emission. Thanks to these attractive features, they are gaining huge traction across packaging, electronics, construction and automotive industries. Increasing demand for these hot melt adhesives will continue to boost the sales of hydrogenated dimer acid during the forecast period.
Subsequently, rising demand for lubricants, paints and coatings worldwide is anticipated to create sales prospects for hydrogenated dimer acid market in the future. Manufacturers are continuously using hydrogenated dimer acid during the production of paints and coatings in order to make them resistant to external environmental changes.
In addition to this, increasing usage of hydrogenated dimer acid as an ideal corrosion inhibitor for protecting lead metal substrates will support the market growth during the forecast period.
Although hydrogenated dimer acid has numerous applications, there are various factors that are likely to pose a challenge to market growth. One such factors is the fluctuations in raw material prices.
Hydrogenated dimer acid is generally synthesized from vegetable oils such as cottonseed oil and rapeseed oil. Its price is therefore dependent on the prices of vegetable oils. Shortage of these vegetable oils or rise in their prices will therefore continue to affect the growth of hydrogenated dimer acid market in the future.
With rapid expansion of end-use industries, favorable government support, growing popularity of hot melt adhesives, and heavy presence of local and regional market players, the Asia Pacific hydrogenated dimer acid market is projected to grow at the fastest CAGR over the forecast period.
During the last few years demand for hot melt adhesives has witnessing huge upsurge due to increasing construction activities and rapid growth of end-use verticals such as automotive and electronics in countries like China and India. These hot melt adhesives are used on used on wood, paper, metal and plastics for excellent adhesion purposes. This will continue to push the sales of hydrogenated dimer acid in the region during the forecast period.
Similarly, growing demand for paints and coatings will further generate sales prospects for hydrogenated dimer acid market in the future.
According to Future Market Insights, the North American hydrogenated dimer acid market is projected to register substantial growth during the forecast period, owing to increasing demand for oilfield chemicals, superior hot melt adhesives and lubricants from various industries.
Developed nations such as the United States are experiencing strong demand for hydrogenated dimer acid due to increasing investments in construction and automotive industries.
Similarly, gradual shift towards utilizing natural products is supporting the growth of hydrogenated dimer acid market in the region. People are increasingly using hydrogenated dimer acid-based products due to its ecofriendly and non-toxic nature.
Some of the key participants present in the global hydrogenated dimer acid market include Croda International Plc., Aturex Group, Olean NV, Jarchem Industries Inc., Kraton Corporation, Florachem Corporation, Jiangxi Longwell Industrial Co., Ltd., and Liancheng Baixin Science and Technology Co., Ltd.
These key market players are adopting various organic and inorganic growth strategies such as collaborations, partnerships, facility expansion, price reduction etc. to expand their global footprint. Moreover, they are increasingly investing in research and development activities to find easy and cost-efficient production methods of hydrogenated dimer acid.
| Report Attribute | Details |
| Growth Rate | CAGR of 3.5%-5.0% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
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FMI projects the global hydrogenated dimer acid market to expand at around 3.5% to 5.0% CAGR throughput the forecast period.
Asia Pacific will continue to remain the most opportunistic market for hydrogenated dimer acid over the forecast period.
Croda International Plc., Aturex Group, Olean NV, Jarchem Industries Inc., Kraton Corporation, Florachem Corporation, Jiangxi Longwell Industrial Co., Ltd. are some prominent hydrogenated dimer acid manufacturers
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