Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Dimethylolpropionic Acid (DMPA) Market’ with its team of analysts and consultants going for a bottom-up approach in primary, secondary, and tertiary modes of research.
The global dimethylolproprionic acid (DMPA) market size is worth USD 524 Million as of now and is expected to reach USD 974.5 Million by the year 2033 at a CAGR of 6.4% between 2023 and 2033.
Electrodeposition facilitates coatings’’ low-cost production, that too, with higher performance standards being maintained, thereby improving the material’s functional properties. It’s also used at a larger scale in various electrical appliances like HVAC systems.
The present scenario is such that dimethylolpropionic acid is broadly used in producing and processing water-soluble resins. It’s generally applied in various aqueous urethane dispersions for generating waterborne, high-gloss coatings possessing exceptional flexibility and toughness. The coatings are used in several applications owing to their characteristics like higher resistance to abrasion and heat, proper adhesion, low toxicity from lower emissions of hazardous air pollutants and volatile organic compounds, and low flammability. The automotive and construction verticals are slated to keep the cash registers ringing for dimethylolpropionic acid (DMPA) market in the near future.
Polyurethane dispersion is being asked for by verticals like furniture, fiberglass, adhesives & sealants, leather, and likewise.
At the same time, the fact that polyurethane dispersion could result in environmental hazards can’t be ignored. Plus, raw materials related to the production of DMPA are subject to price fluctuations. Propionaldehyde and formaldehyde are broadly used in producing dimethylolpropionic acid.
The factors mentioned above could restrain the dimethylolpropionic acid market going forward.
“With growing demand for electrodeposition coatings, the global dimethylolpropionic acid (DMPA) market is expected to grow on an irrevocable note going forward”, says an analyst from Future Market Insights.
Key Takeaways from Dimethylolpropionic Acid (DMPA) Market
- North America holds a sizable market share with the US being subject to growing chemical verticals.
- Europe is led by Germany with the evolution of several manufacturing centers and the development of infrastructure.
- Coming to the Asia-Pacific, China is known for its innovations in automotive with higher demand for DMPA from the chemical vertical. As per the report released by the Trade Commissioner Service of China, the manufacturing and coatings vertical does display a higher potential for growth, with imports worth US$ 50 Billion.
Competitive Landscape in Dimethylolpropionic Acid (DMPA) Market
- Perstorp, in January 2022, did buy GEO’s Di-Methylolpropionic Acid (DMPA) business; through which it speaks about its ambition of being one of the sustainable specialty service providers in the coatings and resins sector.
- Persorp, in November 2019, announced extending its Ymer non-ionic dispersing monomers’ product range for PUD (Polyurethane Dispersion). The application areas of PUDs include coatings and adhesives for textiles, leather, automotive, and wood.
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.
What does the Report encompass?
- The research study is based on application (polyurethane dispersion, resins, powder coating, and electrodeposition coating), and by end-use (adhesive, glass fiber sizing, automotive topcoat, wood finishing, and likewise).
- With growing demand from adhesives and coatings verticals, the global dimethylol acid market is bound to grow remarkably in the near future.
Segmentation of Dimethylolpropionic Acid Industry Research
By Application:
- Polyurethane Dispersion
- Resins
- Powder Coating
- Electrodeposition Coating
By End Use:
- Adhesive
- Glass Fiber Sizing
- Automotive Topcoat
- Wood Finishing
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and the Pacific
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East and Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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