According to the analysis, the US market is projected to experience a 2% Compound Annual Growth Rate (CAGR) over the evaluation period. The food and beverage industry represents the primary consumer of printing inks for labeling and product packaging, consequently driving up the need for trimer acid. Conversely, the growing desire for digital advertising and e-books, along with stringent disposal regulations, is expected to impede market expansion in the upcoming forecast period.
The global trimer acid market size is expected to bolster phenomenal growth with a healthy CAGR of 4% during the forecast period from 2022 to 2032. The market reached US$ 288.4 Million in 2021 and is estimated to touch US$ 299.29 Million in 2022. As per FMI estimations, the trimer acid market will surpass the revenue of US$ 442 Million by 2032.
The reactive polyamides segment is expected to gain maximum traction based on the application segment throughout the assessment period. The expansion of residential and non-residential construction projects all over the world is responsible for the rise of the segment.
The increasing application of reactive polysulfide resin in the automotive sector, the rising paper industry, and the replacement of traditional resins with polyamide resins have spiked segmental growth notably.
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Key Takeaways in Trimer Acid Market
- An incredible surge in the construction chemicals market has led to higher sales in the trimer acid market. The rising investment of various governments across the globe is aiding in developing their infrastructure which is propelling growth in the construction industry. These factors are augmenting the trimer acid market in the coming years.
- The growth of the trimer acid market is attributed to the increasing demand for adhesives & sealants and synthetic lubricants. The surging trend of bio-based adhesives and lubricants is predicted to offer growth opportunities in the coming years.
- The use of trimer acid for the manufacturing of paints and protective coatings in the building and construction sector has spurred market growth at a reasonable pace.
- Increasing population growth and urbanization in developing countries like China, Brazil, and Indonesia. Mexico and India are significant in driving demand for adhesives & sealants, thereby, propelling the trimer acid market in the forecast period.
- Diverse applications of adhesives & sealants in the construction industry such as tiling, wallpapers, and exterior insulation systems have made notable contributions to driving the global trimer acid market.
- High-performance adhesives are gaining traction and offering new avenues of opportunities for market expansion. Key companies are focusing on developing high-performance adhesives to serve shifting consumer preferences in order to gain an edge in the global trimer acid market.
Competitive Landscape in Trimer Acid Market
Kraton Corporation, Liancheng Biaxin 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.
Key players in the market are taking initiatives to develop the ink market, resulting in a substantial boost in the trimer acid market.
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Key Segments Profiled in the Global Trimer Acid Market
By Type:
- Standard Trimer Acid
- Distilled Trimer Acid
- Distilled & Hydrogenated Trimer Acid
By Application:
- Non-Reactive Polyamide Resin
- Viscosity Modifiers
- Corrosion Inhibitor
- Reactive Polyamides Resin
By End Use:
- Adhesives & Sealants
- Drilling Fluid
- Printing Inks
- Surface Coatings
More Insights into the Trimer Acid Market
The Future Market Analysis reveals that China is projected to account for a reasonable market share with an opulent CAGR of 4.5% throughout the forecast period. China is considered to be the world’s largest building market of the world, accounting for 20% of construction investment across the globe.
In 2018, China accounted for about 50 trillion-yuan worth of contracts signed by their construction organizations. The construction segment successfully surpassed 23 trillion yuan that year. In 2019, China Railway Construction Corporation disclosed the value of newly signed contracts for the first time in three quarters this year spiked by 25.07% from a year ago to 1.12 trillion yuan.
Progressive growth is witnessed by the construction industry in China. Owing to the increasing migration and surging household income is expected to propel the demand for residential construction in the country.
The United States market is expected to witness an average CAGR of 2% throughout the assessment 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.
A noticeable surge in the demand for digital advertisements and e-books is witnessed over the review period. Furthermore, strict regulations concerning disposal are expected to hamper the market growth in the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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