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CHEMICALS AND ADVANCED MATERIALS

Hydrogenated Dimer Acid Market Analysis by Type (Distilled, Standard, and Hydrogenated); by Application (Alkyd Resins, Adhesives, Paint & Coatings, Surfactants, Resins, Fuel Oil, and Others); and by End-Use Industry (Construction, Packaging, Oil & Gas, Cosmetics, Chemical, Automobile, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • A cooperative venture for the commercial manufacturing of non-ionic surfactants is being planned by BASF SE and Hannong Chemicals in the Asia Pacific region.

  • Oleon NV places a premium on eco-friendly packaging because it can lower the product's carbon footprint for both the consumer and the manufacturer. Oleon uses packaging for its finished products that is 100% recyclable and contains 30% recycled materials.

Global Hydrogenated Dimer Acid Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~8%

Base Year Market Size (2022)

~ USD 1.0 Billion

Forecast Year Market Size (2033)

~ USD 4.0 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global hydrogenated dimer acid market is estimated to garner a revenue of ~USD 4.0 Billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 1.0 Billion in the year 2022. Hot melt adhesives are becoming more and more popular, and this is one of the key drivers anticipated to propel the market for hydrogenated dimer acids. An excellent material for the manufacture of polyamide hot melt adhesives is hydrogenated dimer acid. Numerous end-use industries, including those in packaging, electronics, construction, and the automotive sectors, are quickly adopting these adhesives, and these rising end-use industries are anticipated to support market expansion. It was observed that more than USD 179.9 billion were spent on the packaging business in the US in 2019, an increase of about 7.1 billion dollars from the previous year.

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With 36 carbon atoms, hydrogenated dimer acid is a frequently used fatty acid. It is made up of a cyclohexane ring that was produced using clay-catalyzed dimerization at a particular temperature. Typically, it is created through the synthesis of naturally existing unsaturated fatty acids. Additionally, the use of hydrogenated dimer acid improves the heat stability, hydrophobicity, and corrosion resistance of final products; as a result, the market expansion is anticipated to be driven by the expanding import and export of metal. According to the International Trade Administration was noticed that U.S. imports of steel mill goods climbed from 2.3 million metric tons in May 2021 to 2.7 million metric tons in June 2021, a 16.1% rise.

Global Hydrogenated Dimer Acid Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand and Consumption of Paints and CoatingsIt was found that nearly 860 million gallons of paint were consumed in the United States in total in 2020 and more than 350 million gallons of architectural paint were consumed in the United States by the DIY ('do it yourself') segment.

Future sales opportunities for the hydrogenated dimer acid market are projected to result from the increasing need for lubricants, paints, and coatings globally. To make paints and coatings resistant to changes in the outside environment, manufacturers frequently use hydrogenated dimer acid during production.

  • Growing Construction SectorIt was noticed that economy in the USA is greatly influenced by the construction sector, the sector employs more than 745,000 people and produces structures valued at close to USD 1.4 trillion annually.

  • Increasing Import-Export of ChemicalIt was noted that exports of chemicals from the EU outpaced imports by a sizeable margin from USD 242.03 billion in 2010 to USD 411.05 billion in 2020 and over this time, exports grew by 5% a year on average.

  • High Usage of Cosmetic and Personal Care ProductsAs per one of the cosmetic surveys, around 80% of American women are considered to use cosmetics daily, which translates to 161 million people spending USD 15,000 on them over the course of a lifetime.

  • Rising Automobile Sales and Manufacturing – According to the data by the International Energy Agency (IEA), sales of electric vehicles surpassed 2.1 million globally in 2019, breaking the previous record year of 2018, increasing the stock of electric vehicles to 7.2 million.

Challenges

  • Fluctuation in Raw Material Prices

The constant ups and downs in the prices of raw materials of hydrogenated dimer acid can hamper the growth of the market. It might cause significant losses to the producers by affecting the supply chain and decrement in the export/import volume. Hence, this factor is estimated to be one of the major restraints to the market over the forecast period.

  • Imbalance Supply and Demand of Crude Oil

  • Less Consumer Awareness

The hydrogenated dimer acid market is segmented and analyzed for demand and supply by end-use industry into construction, packaging, oil & gas, cosmetics, chemical, automobile, and others. Out of these, the construction segment is estimated to hold the largest market share by the end of 2033.  The growth of the segment can be accounted to the rising demand for hydrogenated dimer acid in the construction sector since it comprises all the necessary polymers. It was noticed that in 2021, the market size of the American construction industry was estimated to be over 2 trillion dollars, and in the following year, it is anticipated to grow even more.

Global Hydrogenated Dimer Acid Market Regional Synopsis

The Asia Pacific hydrogenated dimer acid market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the rising demand for packaging, mainly food packaging, supported by increasing demand for ready-to-eat meals and online food ordering across the region. As per one of the surveys, by the end of 2033, approximately more than 519 million users in India is estimated to be dependent on the online food ordering system.

Market Segmentation

Our in-depth analysis of the global hydrogenated dimer acid market includes the following segments:

          By Type

  • Distilled
  • Standard
  • Hydrogenated

         By Application

  • Alkyd Resins
  • Adhesives
  • Paint & Coatings
  • Surfactants
  • Resins
  • Fuel Oil
  • Others

        By End-Use Industry

  • Construction
  • Packaging
  • Oil & Gas
  • Cosmetics
  • Chemical
  • Automotive
  • Others

Top Featured Companies Dominating the Global Hydrogenated Dimer Acid Market

  • BASF SE

  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
  • Croda International Plc
  • Oleon NV
  • Harima Chemicals Group, Inc.
  • Emery Oleochemicals
  • Florachem Corp.
  • Kraton Corporation
  • Aturex Group
  • Anqing Hongyu Chemical co., LTD.
  • Shandong Huijin Chemical Co., Ltd.

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