According to the Future Market Research analysis, the global dimethylolpropionic acid market will reach a valuation of USD 524.0 million by the end of the year 2023 and will register a significant growth rate of 6.4% CAGR during the projection period of 2023 to 2033.
| Attribute | Details |
|---|---|
| Dimethylolpropionic Acid Market Size (2023) | USD 524.0 Million |
| Forecasted Market Size (2033) | USD 974.5 Million |
| Value CAGR (2023 to 2033) | 6.4% |
| Collective Value Share: Top 3 Countries (2023E) | 43.8% |
Dimethylolpropionic acid market has totaled a valuation of USD 492.5 million in 2022. Increasing demand from coatings and adhesives industries is set to drive the market in the coming years. Particularly, the compound is gaining traction for its use in the development of waterborne coatings, powder coatings, and multi substrate coatings.
The market for dimethylolpropionic acid (DMPA) is positively influenced by increasing demand for electrodeposition coatings, particularly from the metals production and processing sector. Electrodeposition enables low cost production of coatings while maintaining high performance standards, enhancing the functional properties of the material. DMPA is also widely used in electrical appliances such as, HVAC systems. DMPA market has been dominated by East Asia region with China remaining the key manufacturing country as well as prominent consuming country.
| Market Statistics | Details |
|---|---|
| January–June (H1), 2021 (A) | 5.8% |
| July–December (H2), 2021 (A) | 6.4% |
| January–June (H1),2022 Projected (P) | 6.0% |
| January–June (H1),2022 Outlook (O) | 6.2% |
| July–December (H2), 2022 Projected (P) | 6.4% |
| July–December (H2), 2022 Outlook (O) | 6.5% |
| January–June (H1), 2023 Projected (P) | 6.5% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 20 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 40 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | (+) 10 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | (+) 10 ↑ |
The above chart represents a comparative view of actual, projected, and outlook growth rates of the market in recent years. Factors like the world economic outlook, GDP growth rates of countries, rising population and industrialization, a shift in the chemical industry towards sustainable chemicals, etc. have together affected the market dynamics in the coming years.
DMPA market had witnessed an increase in 20 bps share over the first half of 2022 as compare to the earlier growth estimates. This increase in the growth estimates is owing to higher recovery of the market in 2022 first quarter.
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During the historical period, the global market exhibited a relatively slow CAGR of 5.4% and garnered a revenue generation of USD 492.5 million by the end of 2022. As per the research, the market is expanding at a significant growth rate due to the rising research and innovation activities among the end-use industries to find a new dimension for DMPA applications.
Demand from the coatings industry is anticipated to register a high growth rate during the forecast period. Apart from this, key players in the DMPA market including Perstorp Specialty Chemicals AB, Henan Tianfu Chemicals, Ltd., etc. have encouraged efforts for portfolio expansion strategies, in addition to strategic collaborations and acquisitions in developed and developing regions. This is expected to cater to the market growth in the coming years.
Dimethylolpropionic acid (DMPA) is widely used chemical in the production and processing of water-soluble resins. It is commonly applied in aqueous urethane dispersions to generate high-gloss, waterborne coatings that possess exceptional toughness and flexibility. These coatings are widely utilized in a variety of applications due to their characteristics, such as, excellent adhesion, high resistance to heat and abrasion, low flammability, and low toxicity resulting from low emissions of hazardous air pollutants and volatile organic compounds.
Increasing demand for the production of this resin is expected to drive the growth of the market. Expanding use of polyurethane dispersions in the automobile industry, specifically in the production of powder coatings, is expected to drive the expansion of the DMPA market.
The expansion of oil based waterborne coatings is also expected to aid market growth. For example, National Chung researchers in Taiwan have documented the usage of DMPA in the development of linseed oil glyceride, which is employed in the transesterification process.
Principal Consultant
Availability of substitutes for Dimethylolpropionic acid (DMPA), such as DMBA, TME, and TMP, available at relatively lower price, poses a significant challenge to the growth of the global DMPA market. Increasing adoption of Dimethylolbutanoic Acid (DMBA) in polyurethane dispersion in comparison to DMPA has accelerated the rate of adoption, further hindering the growth of the DMPA market.
These substitute chemicals are affecting the demand for DMPA, since substitute chemicals are being preferred by several end use industry for their end applications especially as solvents.
By Application, DMPA in polyurethane dispersion is predicted to have the largest market share, accounting for more than 80% of global consumption. DMPA is commonly used in polyurethane dispersions (PUDs) to improve hydrophilic characteristics of polyurethane polymers. Additionally, potential uses in the production of glass fiber sizing, adhesives, automobile topcoats, wood finishing, and other products will drive the market.
Another important application of DMPA is in resin coatings, which also account for a key share of DMPA production and consumption. The compound is used in water-soluble alkyd and polyester resins for enhanced hydrolytic stability with fewer coupling solvents. In air-dried resins, DMPA offers improved resistance to water stains.
Automobile industry is witnessing a considerable recovery after the down in production and sales during the pandemic crisis which is benefiting the consumption of powder coating applications, owing to this the demand for powder coatings segment is expected to rise at a CAGR of more than 6% during the forecast period. This in turn is likely to drive the demand for DMPA.
The growth in polyester resin applications is supported by increasing urbanization initiatives, evolving lifestyles, and major investments in the building and construction industry. The market for the polyester resin is expected to grow at a CAGR surpassing 7% during the assessment period.
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| Country | United States |
|---|---|
| Market Share (2023) | 11.8% |
| Market Share (2023) | 10.9% |
| BPS Analysis | -90 |
| Country | China |
|---|---|
| Market Share (2023) | 11.0% |
| Market Share (2023) | 11.4% |
| BPS Analysis | +30 |
| Country | Germany |
|---|---|
| Market Share (2023) | 7.1% |
| Market Share (2023) | 7.9% |
| BPS Analysis | +80 |
| Country | Japan |
|---|---|
| Market Share (2023) | 7.4% |
| Market Share (2023) | 7.6% |
| BPS Analysis | +20 |
| Country | India |
|---|---|
| Market Share (2023) | 6.8% |
| Market Share (2023) | 8.2% |
| BPS Analysis | +140 |
With slowdown in the growth outlook in the chemical industry in United States, market share to be accounted by high growing market including India, China and other countries. United States market of DMPA to witness a loss in bps of 90 points by the end of the forecast period in global market share. With significant growth in the end use industry and growing chemical industry in India, the country to create ample growth opportunities for the market. India is expected to witness an increase of 140 basis point share in the DMPA global market share.
Germany has held the lead in Europe’s DMPA industry for the past few years and is likely to continue to hold its strong position throughout the assessment period. The growth of the market in Germany is driven by the evolution of manufacturing centres and growth in the chemical industry in the country as well as demand from infrastructure development sectors.
Relatively high population density of Germany in Europe and the resultant demand in terms of furnishing and automobiles are driving growth. About a million people in the country produce goods worth several billion Euros annually, making its polyurethane dispersion sector one of the largest contributors in the European Union. This is a key factor in why suppliers are pushing for penetration into Germany with the aim of increasing their profit margins.
China is currently the dominant and one of the fastest-growing markets for dimethylolpropionic acid (DMPA) in the Asia Pacific region, and it is projected to continue holding its lead throughout the forecast period. Growth prospects in China is driven by innovations in automotive production and top coating solutions and high demand for DMPA from the chemical industries.
According to a report published by the Trade Commissioner Service of China, the manufacturing and coatings industry in China displays high potential for growth, with imports worth USD 50 billion. As sustainability initiatives gain traction in the country's paints and coatings sector, this presents lucrative growth opportunities for DMPA manufacturers in China.
Leading players in the moderately consolidated dimethylolpropionic acid market are progressively required to invest in R&D activities intended to achieve portfolio expansion goals, in addition to significant efforts to look for strategic industry acquisitions and partnerships.
Key Developments:
A few of the leading companies operating in the market are:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.4% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Market Segments Covered | Application,End Use,Region |
| Regions Covered | North America;Latin America;Western Europe;Eastern Europe;East Asia;South Asia and Pacific;Central Asia;Russia & Belarus;Balkan & Baltic Countries;Middle East and Africa |
| Key Countries Covered | United States,Canada,Mexico,Brazil,Argentina,China,Japan,South Korea,India,Association of South East Asian Nations,Australia and New Zealand,Germany,France,Italy,Spain,BENELUX,NORDIC Countries,United Kingdom,Poland,Czech Republic,Saudi Arabia,United Arab Emirates,Türkiye,Northern Africa,South Africa |
| Key Companies Profiled | Geo Specialty Chemicals, Inc.;Perstorp Specialty Chemicals AB;Henan Fianfu Chemical Ltd.;Jiangxi nancheng Hongdu Chemical Technology Development Co., Ltd.;Shenzhen Vtolo Chemicals Co. Ltd.;Lemman Laboratories International Co.,Ltd;Biosynth Carbosynth;Yigyooly Enterprise Limited;Jiangxi Selon Industrial Co.,Ltd. |
| Customization and Pricing | Available upon Request |
The market is expected to be valued at US$ 524.0 million in 2023.
Geo Specialty Chemicals Inc., and Perstorp Specialty Chemical AB are the top market players.
The market registered a CAGR of 5.4% from 2018 to 2022.
Surge in demand for the production of the resin to boost the market prospects.
The market is forecast to register a CAGR of 6.4% through 2033.
1. Executive Summary | Dimethylolpropionic Acid Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 6.1. Regional Pricing Analysis 6.2. Global Average Pricing Analysis Benchmark 7. Global Market Demand (in Value or Size in US$ Mn) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application 9.1. Polyurethane Dispersion 9.2. Resins 9.3. Powder Coating 9.4. Electrodeposition Coating 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End Use 10.1. Adhesive 10.2. Glass Fiber Sizing 10.3. Automotive Topcoats 10.4. Wood Finishing 10.5. Others 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 11.1. North America 11.2. Latin America 11.3. East Asia 11.4. South Asia & Pacific 11.5. Western Europe 11.6. Eastern Europe 11.7. Central Asia 11.8. Russia & Belarus 11.9. Balkan & Baltic Countries 11.10. Middle East & Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Country Wise Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Biosynth Carbosynth 20.2. GEO Specialty Chemicals, Inc. 20.3. Perstorp Specialty Chemicals AB 20.4. Henan Tianfu Chemical Co. Ltd. 20.5. Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd. 20.6. Shenzhen Vtolo Chemicals Co., Ltd. 20.7. CD Bioparticles 20.8. Merck 20.9. Yigyooly Enterprise Limited 20.10. Jiangxi Selon Industrial Co., Ltd. 21. Assumptions and Acronyms Used 22. Research Methodology
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Dimethylolpropionic Acid (DMPA) Market
