Dimer acids are widely utilized to synthesize hot melt adhesives and polyamide resins. These acids are viscous, transparent, and non-toxic fluids. As they are produced along with monomers (isostearic acid), dimer acids and monomers are closely linked to one another.
Efficaciously manufactured by dimerizing unsaturated fatty acids, dimer acids are derived from tall oil, oleic acid, cottonseed, and canola oil, among many others.
The cost of dimer acids is determined by the cost of vegetable oil, which is prone to fluctuations, resulting in volatility of dimer acid prices. The price volatility is expected to act as an impediment to the overall growth of the dimer acid market over the forecast period. Dimer acids and related products find application across various industries such as oilfield chemicals, adhesives and sealants, and paints and coatings. Due to their wide use in several industries, Persistence Market Research predicts the dimer acid market to register a steady CAGR of 6.2% between 2015 and 2021. The market is expected to reach a value of US$705.8 mn by 2021.
Commercial Uses of Dimer Acids
The use of dimer acids is rapidly growing in the construction industry, wherein they are a major component of adhesives and surface coatings. Hence, growing demand for adhesives and surface coatings from various end-use industries such as building and construction is expected to boost the dimer acid-based polyamide resins market in the near future.
Dimer acids produced from tall oil fatty acids are used in the production of non-nylon polyamide resins. Dimer acid-based polyamide resins find their use in the manufacturing of printing inks. These materials are also widely used in various preparations for flexible packaging, high-performance adhesives, printing inks, and as a cross-linking agent for epoxy resins. Thus, the growing demand for printing inks is further expected to augment the overall growth of the dimer acid-based polyamide resins market by 2021.
Dimer acids are also used as a raw material for the production of surface coatings, especially coatings for metal coils. These materials also find application in the petroleum production and refining industries, as well as in other petroleum-related materials such as oil well drilling fluids.
China Leads Global Market for Dimer Acids due to Introduction of New Entrants
In terms of volume growth, the global dimer acid market looks strong for the next few years. By geography, the global market is divided into North America, Europe, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
Although Europe takes up the largest share of revenue in the market, on account of higher prices in Europe, Asia Pacific is expected to exhibit the highest growth during the 2015-2021 forecast period. Asia Pacific will take up a share of nearly 33.5% in the global dimer acid market, rising at a CAGR of approximately 7.30% over the forecast period. China, in particular, is expected to show the highest demand for dimer acids due to price reductions and introduction of new market entrants in this region.