Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Dimer Fatty Acid Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region" report has been added to ResearchAndMarkets.com's offering.
The global dimer fatty acid market is poised for significant growth during forecast period. The market's value is expected to surge from US$ 590 million in 2024 to a remarkable US$ 812 million by 2031.
One of the driving factors behind this growth is the rising demand for dimer fatty acid, particularly in the hot melt adhesives industry. Additionally, the increasing investment in local infrastructure development and construction projects is expected to further boost the sales of dimer fatty acid in the coming years.
Impact of the Oil & Gas Sector on Dimer Fatty Acid Sales
The oil & gas sector is anticipated to play a pivotal role in the growth of the dimer fatty acid market. Dimer fatty acid is a crucial ingredient in the manufacturing of chemicals used in drilling activities, including inverted oil-based mud and drilling fluid additives for both water-based and oil-based mud systems. With significant growth expected in oil & gas production and reserves worldwide, the demand for dimer fatty acid is set to rise.
Regions like the Middle East and Africa (MEA) are witnessing increased exploration activities, positioning them as potential frontiers for oil & gas discoveries. North America, especially the United States, has also seen substantial growth in oil & gas production, and this trend is expected to continue in the latter half of the forecast period. Consequently, the demand for oilfield chemicals, including dimer fatty acid, is expected to surge, compelling market players to expand their production capacities.
Country-wise Insights
- China: China is expected to account for approximately 26.8% of the global market share by 2031, creating an incremental opportunity of US$ 81.2 million. This is attributed to the presence of numerous local dimer fatty acid manufacturers in the country, who are increasing their production capacities to meet the growing demand.
- United States: The U.S. is projected to dominate the North American dimer fatty acid market, accounting for approximately 86.2% of the market share in 2031. The rebounding U.S. economy is expected to drive demand, along with the extensive use of dimer fatty acid in oilfield chemicals used in refining, well drilling, and hydraulic fracturing.
- Germany: Germany is set to lead the Europe dimer fatty acid market, accounting for 25.4% of the market share by 2031. The country is heavily investing in research and development to improve the production process of dimer fatty acid with a focus on minimizing waste, positioning itself as a hub for the production of laboratory chemicals.
Competitive Analysis
Leading dimer fatty acid producers are actively engaged in strategic business agreements and expanding their global footprint through the construction of new production units. Additionally, significant investments in research and development are being made to enhance production methods and synthesis processes for dimer fatty acids.
Key Companies Profiled
- Kraton
- Croda International
- Oleon
- Jiangsu Yonglin Oleochemical
- Jiangxi Longwell Industrial
- Aturex Group
- Shandong Huijin Chemical
- Emery Oleochemicals
- Florachem Corporation
- Jiangsu Jinma Oil Technology Development
- Jarchem Industries
- Liancheng Baixin Science and Technology
- Jinan Tongfa Resin
Dimer Fatty Acid Industry Research by Category
Dimer Fatty Acid Market by Product Type:
- Standard
- Distilled
- Distilled and Hydrogenated
Dimer Fatty Acid Market by Application:
- Standard Dimer Acid
- Reactive Polyamides
- Non-Reactive Polyamides
- Oil Field Chemicals
- Others
- Distilled Dimer Acid
- Reactive Polyamides
- Non-Reactive Polyamides
- Oil Field Chemicals
- Others
- Distilled & Hydrogenated Dimer Acid
- Reactive Polyamides
- Non-Reactive Polyamides
- Oil Field Chemicals
- Others
For more information about this report visit https://www.researchandmarkets.com/r/jy65ku
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