Dimethylolpropionic Acid (DMPA) Market Trends, Strong Application Scope, Key Players, Growth Overview and Forecast by 2031

Dimethylolpropionic acid is a crystalline compound that is increasingly gaining traction for its extensive use in the development of aqueous urethane dispersions, which are ideal for high gloss waterborne coating offerings with superior flexibility and free-flow characteristics. Dimethylolpropionic acid is also used in powder coatings as a modification agent in epoxy polyester compounds for improving flow properties, higher levels of gloss, and better impact resistance. Furthermore, DMPA is also used in the development of urethane elastomers for multi-substrate applications.

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The growing global demand for electrodeposition coatings particularly, arising from the metals production and processing sector is expected to positively influence market growth. Electro-deposition allows for low-cost production of coatings, while maintaining high performance standards, improving the functional properties of the material. Dimethylolpropionic acid is also widely used in electric appliances such as HVAC systems. Consequently, the use of associated coatings will drive growth over the forecast period.

ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) delivers insights into key factors driving the dimethylolpropionic acid market in its latest report. Additionally, an evaluation of the effect of the COVID-19 pandemic on the dimethylolpropionic acid market in general, and an analysis of sales in 20+ high-growth markets and relevant end-use industries has been provided in the report.

How are Historic Trends Comparing to the Future Outlook of Dimethylolpropionic Acid Sales?

For the past five years, from 2016 to 2020, the dimethylolpropionic acid market has displayed healthy growth with a CAGR of over 8%. Prominent manufacturers including Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd., have encouraged efforts towards portfolio expansion strategies, in addition to strategic collaborations and acquisitions in developed and developing countries.

As per the Future Market Insights report, the covid-19 pandemic cut into the short-term rate of growth in the dimethylolpropionic acid industry. However, the market is expected to witness a steady recovery through 2021 with an estimated CAGR between 7% and 10%. Countries across the Asia Pacific excluding Japan region will remain major contributors to growth. Increasing awareness and rapid adoption of polyurethane dispersion processes in the United States will provide major impetus to developments of the market in the near future.

How are Developments in the Coatings Sector Influencing Growth?

As per a World Bank report, the global economy slumped by more than 4% during 2020. As the coronavirus pandemic continues to gradually subside, recovery is likely to remain slow even through 2021. Major investments into infrastructure and construction projects such as ports, communication infrastructure, and renewable energy setups will contribute to growth. These factors are expected to generate major interest and demand in the dimethylolpropionic acid.

Manufacturing activity is set to rise in multiple end use sectors including automotive and parts, furniture, chemicals, and the oil & gas industries. Domestic production of automobiles, fabricated parts, durable goods, and healthcare devices are expected to continue growing with upgrades for equipment and processes through 2021, positively influencing applications of DMPA. While the specialty chemicals industry is expected to go through a slight slump, resilience displayed by consumer chemicals and industrial gases among others reflect a potential for positive trends in the near future.

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About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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