Trimer Acid Market Size

Trimer Acid Market size was valued at USD 310.2 million in 2023 and is anticipated to reach USD 523 million by 2036, registering around 4.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of trimer acid is assessed at USD 320.37 million. The primary growth factor for the expansion of the trimer acid market is the growth in the construction processes worldwide. In the year of 2020, it was estimated that the total spending in the U.S. construction sector was USD 1.36 trillion. Moreover, the U.S. construction industry accounted 4.3% of the total GDP in 2021.

Bio-based adhesives and lubricants have become increasingly popular in recent years. The high utilization of trimer acid in these applications is further projected to offer various opportunities for growth to the global trimer acid market in the coming years. Additionally, the surge in the construction chemicals market is also expected to bring significant gains to the trimer acid market during the forecast period. Aggressive investment by various governments across the globe to develop their infrastructure and construction industry is another vital factor that is anticipated to augment the market in the coming time. The construction sector of the United States had 680,000 employers and approximately 7 million employees in 2020.