Dimer Acid Market

Market Overview: 

The global dimer acid market size reached US$ 2.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.35% during 2024-2032. The rising product utilization in the automotive industry, increasing product demand in personal care products, extensive research, and development (R&D) activities, and implementation of supportive government policies are some of the major factors propelling the market.

Dimer acid, also known as dimerized fatty acid, refers to an organic compound that is produced from vegetable oils and animal fats. It is widely used in the production and formulation of polyamide resins, coatings, adhesives, lubricants, greases, personal care products, and printing inks. Dimer acid offers excellent viscosity, lubricity, adhesion, melting point, and thermal and chemical stability. It also exhibits good compatibility, high-performance characteristics, and excellent solubility in organic solvents, resins, and polymers. In addition, dimer acid is naturally sourced, generates low volatile organic compound (VOC) emissions, and contributes to improved environmental performance.

The widespread product utilization in the electronics industry to produce printed circuit boards (PCBs), wire and cable coatings, dielectric materials, semiconductors, and thermal interface materials (TIMs) is providing an impetus to the market growth. Additionally, the increasing product adoption as an oilfield chemical to improve the stability and performance of drilling fluids, corrosion inhibitors, and production chemicals is favoring the market growth. Apart from this, the widespread product utilization in paints and coatings used in the construction industry due to their improved durability, adhesion, and chemical resistance properties is contributing to the market growth. Moreover, the implementation of supportive government policies to encourage the adoption of eco-friendly and sustainable solutions in industrial processes is strengthening the market growth. Other factors, including rapid industrialization activities, increasing investment in the development of advanced production methods, and growing demand for high-performance materials, are anticipated to drive the market growth.

Dimer Acid Market Trends/Drivers:

The rising product utilization in the automotive industry

Dimer acid is widely used in the formulation of coatings and paints for the automotive industry, as they offer excellent adhesion, corrosion resistance, and durability. Furthermore, the widespread product utilization in the production of adhesives and sealants for bonding components, sealing joints, and preventing leaks in automotive is acting as another growth-inducing factor. Additionally, dimeric acid improves the lubricity, viscosity, and thermal stability of lubricants, thus ensuring smooth operation and reduced friction in engines, transmissions, bearings, and other automotive systems. Apart from this, the growing product adoption as a key ingredient in the formulation of cutting oils, rust preventives, and metal cleaners, which provide effective lubrication, cooling, and corrosion protection during machining, stamping, and other metal fabrication operations in the automotive industry is strengthening the market growth.

The increasing product demand in the personal care industry

Dimer acid finds extensive applications in the personal care industry. They are widely used as a surfactant in soaps, facial cleansers, body washes, and shampoos to remove impurities, dirt, and oil from the hair and skin. Furthermore, dimer acid acts as an emollient and moisturizer in creams, lotions, and body butter to hydrate the skin, improve its moisture retention capacity, and create a smooth and soft feel. Additionally, they are extensively used in hair care products, such as conditioners, styling gels, and hair serums, as they exhibit conditioning properties, and assist in detangling the hair, and reduce frizz. Apart from this, dimer acid is used in sunscreen formulations to enhance the stability and dispersibility of ultraviolet (UV) filters.

Extensive research and development activities

The recent development of enzyme-catalyzed production of dimer acid, which eliminates the need for harsh chemical reagents and reduces energy consumption, resulting in a more sustainable production process, is positively influencing the market growth. Along with this, the integration of biorefineries to optimize resource utilization and create a more economically viable production system is supporting the market growth. Additionally, the utilization of alternative feedstocks beyond traditional vegetable oils, such as waste oils, greases, and algal oils, to diversify raw materials, save costs, and promote sustainability is strengthening the market growth. Apart from this, the adoption of process intensification techniques, such as continuous flow reactors, reactive distillation, and membrane separation, to enhance the productivity and yield of dimer acid production while reducing energy consumption and production costs is favoring the market growth.

Dimer Acid Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global Dimer acid market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product type and application.

Breakup by Product Type:

• Standard
• Distilled
• Distilled and Hydrogenated
   

Distilled dominates the dimer acid market.

The report has provided a detailed breakup and analysis of the dimer acid market based on product type. This includes standard, distilled, and distilled and hydrogenated. According to the report, distilled represented the largest market segment.

Distilled dimer acid is dominating the market owing to its high purity levels and consistent quality, making it a preferred choice for various industrial applications. Furthermore, it is widely used in the production of adhesives, paints and coatings, lubricants, and polyamide resins, which is contributing to its dominance in the dimer acid market. Moreover, distilled dimer acid exhibits enhanced performance characteristics, such as excellent adhesion, improved chemical resistance, and good thermal stability, which makes it ideal for applications where durability and performance are critical. Additionally, the implementation of strict quality standards and regulatory compliance has prompted manufacturers to strengthen quality control measures and ensure that their products meet the required specifications. These stringent requirements are driving confidence among customers and boosting the demand for distilled dimer acid.

Breakup by Application:

• Alkyd Resins
• Adhesives and Elastomers
• Lubricants
• Polyamide Resins
• Fuel Oil Additives
• Others
   

Polyamide resins dominate the dimer acid market

The report has provided a detailed breakup and analysis of the dimer acid market based on application. This includes alkyd resins, adhesives and elastomers, lubricants, polyamide resins, fuel oil additives, and others. According to the report, polyamide resins represented the largest market segment.

Polyamide resins are dominating the dimer acid market due to their versatility and diverse applications across various industries. In line with this, polyamide resins are widely used as a key ingredient in the production of adhesives, coatings, inks, and engineering plastics. Furthermore, they exhibit excellent performance properties, such as high strength, durability, chemical resistance, and thermal stability, which makes them ideal for demanding applications, including automotive parts, industrial coatings, and electrical insulation. Additionally, polyamide resins have an established market presence in key industries, including automotive, electrical and electronics, and packaging, which is contributing to the market growth. Moreover, the growing demand for sustainable solutions is facilitating the adoption of polyamide resins that are bio-based, renewable, and can be produced from natural oils or fatty acids. Apart from this, the presence of an established supply chain infrastructure, which ensures the ready availability of raw materials, is favoring the market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America 
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance in the market, accounting for the largest dimer acid market share.

The report has also provided a comprehensive analysis of all the major regional markets, which includes North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia-Pacific represented the largest market segment.

Asia Pacific is dominating the dimer acid market owing to the presence of key industries, such as adhesives, paints and coatings, and lubricants. Furthermore, the widespread product utilization in construction materials, automotive components, consumer goods, and packaging materials due to the rapid industrialization and urbanization activities is positively influencing the market growth. Moreover, the favorable economic conditions of the region have contributed to the growth of end-user industries that utilize dimer acids, such as automotive, personal care, and consumer goods. Additionally, the widespread availability of natural resources, coupled with the increasing focus on sustainability, is facilitating product demand as it is derived from natural and renewable resources, which aids in lowering carbon footprint and reducing the adverse environmental impact. Besides this, the implementation of supportive policies by the regional governments to promote industrial growth and encourage the establishment of dimer acid manufacturing plants is contributing to the market growth.

Competitive Landscape:

The leading companies in the dimer acid market are striving to develop new and innovative products with improved performance, enhanced sustainability, and compatibility with different applications. Furthermore, the growing focus on market expansion has prompted key players to establish new partnerships with distributors, subsidiaries, and industry stakeholders to increase sales and strengthen market presence. Additionally, top companies are adopting customer-centric approaches by providing technical support and offering tailored solutions to meet unique requirements, increase retention, and attract new clients. Moreover, several key players are prioritizing eco-friendly practices to produce bio-based dimer acids, reduce waste generation, and minimize carbon footprint. Apart from this, the increasing strategic collaboration between companies and end-product manufacturers to create synergies and offer integrated solutions to customers is boosting the market growth.

The report has provided a comprehensive analysis of the competitive landscape in the global dimer acid market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Aturex Group
• Croda International plc
• Emery Oleochemicals
• Florachem Corporation
• Harima Chemicals Group Inc.
• Jinan Tongfa Resin Co. Ltd.
• Kraton Corporation (DL Chemical Co. Ltd.)
• Oleon NV (Avril Group
• Qingdao ECHEMI Digital Technology Co. Ltd.

Recent Developments:

• In August 2021, Emery Oleochemicals launched a new website for its bio-lubricant business unit. On this website, visitors can browse a wide range of products, such as lubricant esters, azelaic acids, pelargonic acids, and dimer/monomer/isostearic acids.
• In May 2023, SK Capital Partners acquired Florachem Corporation, a market leader in plant-based ingredients, such as citrus flavors, rosin (pine sap) resins, and bio-based dimer and trimer acids.
• In August 2023, Kraton Corporation (DL Chemical Co. Ltd.) announced a partnership with Redox Limited. In this partnership, several of Kraton’s items are to be distributed by Redox, which includes Unidyme™ Dimer Acids, Century™ Branched Fatty Acids, Sylvatal™ DTO, Sylvaros™ Tall Oil Rosins, and Upgraded Rosins.
   

Dimer Acid Market Report Scope:

Key Questions Answered in This Report:

• How has the global dimer acid market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global dimer acid market?
• What is the impact of each driver, restraint, and opportunity on the global dimer acid market?
• What are the key regional markets?
• Which countries represent the most attractive dimer acid market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the dimer acid market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the dimer acid market?
• What is the competitive structure of the global dimer acid market?
• Who are the key players/companies in the global dimer acid market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the dimer acid market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global dimer acid market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the dimer acid industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.