Trimer Acid Market Trends

Growth Drivers

Boom in Manufacturing Industry – As of 2022, the manufacturing industry in the United States region generated a revenue of USD 8 trillion. Moreover, the number of manufacturing enterprises was calculated to be 740,850 in 2018.
Growth in Paints & Adhesives Industry – As per recent estimates, in 2020, the global paints and adhesives industry was valued approximately USD 160 billion.
Expansion of Construction Industry – In 2019, the construction industry in the U.S. generated a revenue of approximately USD 1.8 trillion. Further, by 2030, the expenditure in the global construction industry is expected to rise to USD 18 trillion.
Development in Chemical Industry – The global chemical industry in the year 2021, generated a revenue of approximately USD 5 trillion.
High Investment in Research and Development – The World Bank revealed the statistics of the expenditure made in research and development sector in 2020 was amounted to be 2.63% of the total GDP. This was a rise from 2.14% of the total GDP in 2016.

Challenges

Frequent Changes in Regulatory Standards
Additional External Expenses
Stringent Government Rules

Trimer Acid Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	4.1%
Base Year Market Size (2023)	USD 310.2 million
Forecast Year Market Size (2036)	USD 523 million
Regional Scope	North America (U.S. and Canada) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Brazil, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of trimer acid is assessed at USD 320.37 million.

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. The extensive usage of trimer acid in the end user industries such as adhesives & sealants, construction and manufacturing will impel the market growth.

Asia Pacific industry is poised to dominate majority revenue share by 2036, owing to great investments made in the construction industry.

The major players in the market are Kraton Corporation, Alfa Chemical Group, Wilmar Group, Oleon NV, Croda International Plc, Triveni Chemicals, Riteks Inc., Fuzhou Zhongde Energy Co., Ltd., Univar Solutions Inc., Spectrum Laboratory Products, Inc. and others.

Trimer Acid Market Trends