The global Trimer Acid Market is expected to secure USD 288.4 Million in 2021, and is expected to reach USD 299.29 Million in 2022. The market is projected to reach USD 442 Million by 2032 while recording a CAGR of 4% during the forecast period from 2022 to 2032.
Growth of the market is attributed to the increasing demand of adhesives & sealants and synthetic lubricants.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 288.4 Million |
| Expected Market Value (2022) | USD 299.29 Million |
| Anticipated Forecast Value (2032) | USD 442 Million |
| Projected Growth Rate (2022 to 2032) | 4% CAGR |
There has been a surge in the construction chemicals market, which has brought significant gains to the trimer acid market during the forecast period. Aggressive investment of various governments across the globe to develop their infrastructure and construction industry is another vital cause augmenting the market in the coming time.
In addition, the rising trend of bio-based adhesives and lubricants is projected to offer various opportunities for growth to the global trimer acid market in the coming time.
In addition, spurring demand for trimer acid for the manufacturing of paints & protective coatings in the building and construction sector has been identified as remunerative factor, bolstering the industry notably. However, a low supply of feedstock for the synthesis of trimer acid is projected to hamper the market growth in the forecast period.
Based on application, the reactive polyamides resin segment is anticipated to gain maximum traction in the assessment period. The rise of the segment can be attributed to the expansion of residential and non-residential construction projects across the globe, principally in developing countries.
In addition, the growing application of reactive polyamide resin in the automotive sector, rising paper industry, and replacement of traditional resins by polyamide resins have spiked the segmental growth notably.
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The increasing demand for adhesives & sealants from the building and construction industry is expected to provide a significant boost to the market during the forecast period. The growing population and urbanization in developing countries such as; India, China, Indonesia, Brazil, and Mexico have played a critical role in driving demand for adhesives & sealants, thereby, propelling the trimer acid market in the forecast period.
Besides, several applications of adhesives & sealants in the construction industry such as tiling, wallpapers, and exterior insulation systems have made notable contributions in driving the global trimer acid market.
Also, the growing demand for high-performance adhesives is offering new avenues of opportunities for market expansion. For instance, in March 2022, Conagen, a renowned biotechnology innovator, announced the development of highly sought-after debondable hot melt adhesives.
It was made of high-performance materials from sustainable and natural bio-molecules. The benefit of high-strength deobondable adhesives benefits various industries. Smartphones and electronics can be repaired easily, and anatomized at the end of their life span without damaging components for recovery.
The trimer acid market is undergoing various changes in terms of rules and standards. For instance, in the EU, The Construction Products Regulation (CPR) implemented new regulations like regulation (EU) No 305/2011 for the marketing of construction products.
With the announcement of new regulations, manufacturers have to endure the extra expenses for labeling and paperwork. Moreover, additional external test costs to demonstrate compliance will also have to be paid by the players.
Substance alerts focusing on biocides and waste packaging take place on a daily basis, as a consequence, there are frequent changes in regulatory standards. The trimer acid players, adhesives & sealants manufacturers have to observe the changing rules, which poses a major challenge to the players of the market.
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The analysis reveals that the market in China is projected to record a robust CAGR of 4.5% during the forecast period. China is the world’s largest building market of the world, accounting for 20% of construction investment across the globe.
The output value of construction in China witnessed progressive growth in the industry. Increasing migration and surging household income is expected to propel the demand for residential construction in the country.
As of 2020, 60.6% of the total population lived in urban areas, a sharp rise from 17.92% against 1978. Moreover, the increasing value of contracts has propelled the market in China considerably.
In 2018, there was about 50 trillion-yuan worth of contracts signed by the construction organizations in China. The construction segment surpassed 23 trillion yuan that year. In 2019, China Railway Construction Corporation disclosed its value of newly signed contracts for the first time three quarters this year spiked by 25.07% from a year ago to 1.12 trillion yuan.
As per the analysis, the market in the USA is expected to witness a CAGR of 2% during the review period. The food and beverage sector is the most common end-user of printing inks for labeling and goods packaging, thereby increasing demand for trimer acid.
On the contrary, increasing demand for digital advertisements and e-books, and stringent regulations regarding disposal are anticipated to hamper the market growth in the forecast period.
However, players are taking initiatives to develop the ink market, consequently, boosting the trimer acid market in the US. For instance, in May 2021, Epple Druckfarben AG and Zeller+Gmelin GmbH & Co. KG are working together in UV ink technology. Epple will market the brand under the “LightStar” name.
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Key players of the global trimer acid market include Kraton Corporation, Liancheng baixin science and technology Co., Ltd, Alfa Chemical Corporation, Soofi Enterprises, Spectrum Chemical Mfg. Corp, Riteks, Croda lubricants, Fujian Zhongde Energy Co., Ltd., Univar USA, Inc., among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Application, End-Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; China; India; SEAP; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, Poland, Russia, India, ASEAN, Australia, New Zealand, GCC Countries, South Africa, Northern Africa |
| Key Companies Profiled | Kraton Corporation; Liancheng baixin science and technology Co., Ltd; Alfa Chemical Corporation; Soofi Enterprises; Spectrum Chemical Mfg. Corp; Riteks; Croda lubricants; Fujian Zhongde Energy Co., Ltd.; Univar USA Inc. |
| Customization | Available Upon Request |
FMI projects the global trimer acid market to expand at a 4% value CAGR by 2032
China is anticipated to be the most lucrative recording a CAGR of 4.5% during the forecast period.
Kraton Corporation, Liancheng baixin science and technology Co., Ltd, among others are some of the eminent names of the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032 5. Global Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Source 5.1. Canola Based 5.2. Tall Oil Fatty Acid 6. Global Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Function 6.1. Rheology Modifier 6.2. Polymer Building Block 6.3. Viscosity Modifier 6.4. Corrosion Inhibitor 6.5. Asphalt Binder 7. Global Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 7.1. Coating 7.2. Adhesive & Sealants 7.3. Elastomers 7.4. Synthetic Lubricants 7.5. Other Applications 8. Global Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia & Pacific 8.6. MEA 9. North America Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia & Pacific Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Trimer Acid Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Trimer Acid Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Wilmar International 17.2. Punjab Chemicals & Crop Protection Limited 17.3. Florachem 17.4. Oleon NV 17.5. Croda International Plc 17.6. Kraton Corporation 17.7. TCI Chemicals 17.8. Triveni Chemicals 17.9. Fujian Zhongde Energy Co., Ltd. 18. Assumptions & Acronyms Used 19. Research Methodology
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Trimer Acid Market
