The market for dimeric fatty acids is expected to reach USD 974 billion by 2032, up from an estimated USD 703 million in 2022, with a CAGR of 9.7% during that period.
The variety of applications for polyamide resins has grown over the past five years. It is anticipated that adhesives and various fuel oil additives will behave similarly. Hot melt adhesives were used to adhere wood, PVC, metal, paper, polyethylene, surface-treated polypropylene, and other materials. The aforementioned uses all have a sizable effect on the market.
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Tall oil fatty acids are dimerized to create non-toxic, dual-purpose dimeric fatty acids, also known as di-carboxylic acids (TOFA). They are transparent, light yellow liquids that can help polymers become more water-repellent, hydrolytically stable, and pigment-wetting. They are widely used in the production of polyamide hot melt adhesives and polyamide resins as a rheology controller or a polymer building block.
A growing number of end-users in numerous industries are considering the environmental impact of their decisions as people become more aware of the negative effects of industrialization on the environment.
Dimeric fatty acids are widely used in the coatings, ink, and adhesive industries. An increasing number of environmentally conscious businesses across various industries are using bio-based raw materials.
Fatty acids and their derivatives, including dimeric fatty acids, pose a low risk of harm to the environment, according to a document from the Canadian government.
Dimeric fatty acids are believed to have a smaller environmental impact as a result, and a less stringent regulatory environment is facilitating their adoption across numerous industrial verticals.
The increased use of polyamide resins, reactive adhesives, and fuel oil additives over the past five years have all increased demand for dimeric fatty acids on a global scale.
Key Learnings:
· With its consistent growth in dimeric fatty acid production and consumption, China is predicted to lead the world market.
· Hot adhesives made of polymers are preferred over those made of solvents because they are more environmentally friendly due to their ability to function without solvent.
· In 2021, the use of dimeric fatty acids in non-reactive polyamides accounted for more than 42% of total revenue.
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Competitive Environment
According to the study, Tier 1 companies hold about 32% of the global market for dimeric fatty acids, and local players continue to dominate a highly fragmented market.
Meanwhile, Tier 2 and Tier 3 manufacturers compete on price in regional markets for dimeric fatty acids.
The British specialty chemicals company Croda International Plc. announced its 2018 annual improvement plan, which includes three sizeable investments in Latin America. The company has invested in a new innovation and customer experience centre as well as a specialised polymer facility in the area as part of its five-year transformation strategy.
A brand-new isostearic acid production facility will go into operation in 2018 according to Oleon NV, a global leader in dimeric fatty acids with headquarters in Belgium. The company spent about USD 23 million on the new production line, which will produce isostearic acid and dimeric fatty acids.
Key Players in the Dimeric Fatty Acid Market Include:
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Dimeric fatty acid Market Key Segments
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| Fact.MR | 6282511583 | neha.b@factmr.com | https://www.factmr.com |
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