The global Trimer Acid Market is anticipated to expand at a 4% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI). Increasing demand of adhesives & sealants and synthetic lubricants is driving the market of trimer acid.
Growing utilization of trimer acid in polymers and other chemical products is further expected to boost the consumption of trimer acid market. Hence, demand for trimer acid in construction industry is expected to drive sales in the coming decade.
The construction chemicals market has been experiencing significant growth, which in turn, is impacting the trimer acid market positively over the forecast period. Increasing government investments for infrastructural developments and construction spending across the globe is increasing the use of trimer acid.
Application of trimer acid in the manufacturing of paints & protective coatings in building and construction sector are anticipated to be major growth drivers. Additionally, surging trend of bio-based adhesives and lubricants is expected to further boost the sales of trimer acid.
However, environmental regulations pertaining to the use of chemically treated products and the concerns regarding rising prices of raw material is expected to be key factor hampering the growth of trimer acid market worldwide.
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- In terms of application, coating segment in the global trimer acid market is dominating the market.
- Rising demand for high performance adhesives is expected to provide growth to the adhesives & sealants segment, registering considerable growth between 2022 and 2032.
- China and the U.S. is expected to be one of the key consumer in global trimer acid market owing to high presence of industries and raw materials suppliers in the country.
- Russia is expected to dominate the Europe timer acid market throughout the assessment period on the back of increasing application in construction industry.
Key market participants in the global trimer acid market profiled in the report includes 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.
Key players operating in the global trimer acid market are focusing on increasing their production capacities to boost their market footprint especially in the emerging economies. Furthermore, market participants are focusing on mergers, acquisitions and collaborations strategies to expand their global presence and strengthen their distribution network.
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Key Segments Profiled in the Global Trimer Acid Market
- Standard Trimer Acid
- Distilled Trimer Acid
- Distilled & Hydrogenated Trimer Acid
- Non-Reactive Polyamide Resin
- Viscosity Modifiers
- Corrosion Inhibitor
- Reactive Polyamides Resin
By End Use:
- Adhesives & Sealants
- Drilling Fluid
- Printing Inks
- Surface Coatings
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.