NEW YORK, Jan. 11, 2022
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NEW YORK, Jan. 11, 2022 /PRNewswire/ -- From 2022 to 2032, the global dimeric fatty acid market is expected to increase at a CAGR of 9.7%, from USD 703 million in 2022 to USD 974 billion in 2032.
Over the last half-decade, the number of uses for polyamide resins has increased. Adhesives and various fuel oil additives are expected to follow a similar pattern. The application of hot melt adhesives to wood, PVC, metal, surface-treated polypropylene, paper, and polyethylene boosted market expansion. All of the aforementioned applications have a significant impact on the market.
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Tall Oil Fatty Acids are dimerized to produce dimeric fatty acids, also known as di-carboxylic acids, which are non-toxic, bifunctional acids (TOFA). They're light yellow-transparent liquids that can aid polymers improve their water repellency, hydrolytic stability, and pigment wetting qualities. They're widely utilized as a rheology controller or a polymer building block in the production of polyamide hot melt adhesives and polyamide resins.
As people become more conscious of the detrimental effects of industrialization on the environment, a rising number of end-users in a variety of industries are evaluating the environmental impact of their actions.
In the adhesive and coatings and ink industries, dimeric fatty acids are extensively employed. Bio-based raw materials are being used by an increasing number of environmentally conscious enterprises in various industries.
Government of Canada stated in one of its document that "fatty acids and their derivatives, including dimeric fatty acids, pose a low risk of harm to the environment."
As a result, dimeric fatty acids are thought to have a lesser environmental footprint, and their adoption across multiple industrial verticals is being facilitated by a less severe regulatory framework.
Over the last half-decade, the global market for dimeric fatty acid has grown due to increased consumption of polyamide resins and increased applications of reactive adhesives and fuel oil additives.
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Tier 1 companies account for roughly 32% of the dimeric fatty acid market, according to the study, and the market remains highly fragmented among local players.
Meanwhile, in regional markets for dimeric fatty acids, Tier 2 and 3 manufacturers compete on pricing.
Croda International Plc., a British specialty chemicals firm, announced its ongoing improvement plan in 2018, which includes three significant Latin American investments. As part of its five-year transformation strategy, the corporation has invested in a new innovation and customer experience center as well as a specialized polymer facility in the region.
Oleon NV, a world leader in dimeric fatty acids with headquarters in Belgium, has announced the launch of a new isostearic acid production unit in 2018. The new production line, which will create dimeric fatty acid and isostearic acid, cost the corporation roughly USD 23 million.
Key Players in the Dimeric Fatty Acid Market Include:
More Valuable Insights on Dimeric Fatty Acid Market
Fact.MR provides an unbiased analysis of the dimeric fatty acid market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global dimeric fatty acid market with a detailed segmentation on the basis of:
Key Questions Covered in Dimeric Fatty Acid Market Report
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