Dimethylolpropionic acid, commonly known as DMPA, is a hydroxy acid that has gained widespread applications across industries such as construction, automotive, and paints and coatings, on account of its excellent water resistance and reactivity properties. The growing infrastructure development activities coupled with rising sales of automobiles globally has driven the demand for paints and coatings. DMPA serves as a key additive in waterborne and powder coatings to enhance properties such as corrosion resistance and durability. It finds usage as a crosslinker between polymer chains in coatings formulations.
The Global Dimethylolpropionic Acid Market Size is estimated to be valued at US$ 603.65 Bn in 2024 and is expected to exhibit a CAGR of 21% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Dimethylolpropionic acid are Active Motif, Inc., Illumina, Inc., Life Technologies, Affymetrix, Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Qiagen, Knome, Inc., GE Healthcare, Geneva Bioinformatics SA. DMPA manufacturers are focusing on developing innovative product formulations with low VOC content to capitalize on the increasing demand for eco-friendly coatings systems. The paints and coatings industry across South Asian and East Asian countries is witnessing strong growth owing to increasing investment in the construction and infrastructure sectors, which is opening new opportunities for market players. Major players are entering into long-term supply agreements and partnerships with regional coatings manufacturers to strengthen their presence in South Asian and East Asian countries.
Market drivers:
Growth in the global construction industry driven by rapid urbanization is fueling the demand for architectural coatings. According to the United Nations, 68% of the global population is projected to live in urban areas by 2050, thereby generating new construction activities. DMPA finds widespread applicability as a crosslinking agent in architectural and protective coatings. Rising automobile manufacturing and sales worldwide is another key factor driving the consumption of automotive coatings, where DMPA serves as an important additive.
Market restrain:
Stringent regulatory norms pertaining to VOC emissions from coatings may limit the usage of conventional solvent-borne coatings where DMPA is primarily utilized. Additionally, availability of alternatives such as polyurethane and polyester resins as crosslinkers in coatings systems can hinder the demand growth of DMPA to some extent. High dependency of DMPA demand on end-use industries such as construction and automotive also exposes it to associated risks. Economic slowdowns can negatively impact project activities and vehicle sales, reducing coatings demand.
Segment Analysis
This market is dominated by the construction segment due to increasing usage of dimethylolpropionic acid as admixtures in various construction chemicals. Dimethylolpropionic acid is used as concrete admixtures in construction chemicals which improves the workability, pumpability and water reduction of concrete. It enhances the physical and mechanical properties of concrete. The construction industry is booming in developing countries of Asia Pacific and Middle East & Africa region owing to rapid urbanization and industrialization which is propelling the demand for construction chemicals and further driving the growth of dimethylolpropionic acid market.
Global Analysis
The Asia Pacific region is expected to witness the fastest growth in the dimethylolpropionic acid market during the forecast period. Countries like China, India, Indonesia, Vietnam, Thailand and Malaysia dominate the market. China accounts for the largest share in the global market due to huge demand from construction industry. Growing infrastructure development activities and increasing population has boosted the construction industry in this region. Additionally, government initiatives towards infrastructure development and industrialization has resulted in enormous growth opportunities for dimethylolpropionic acid in construction admixtures application. North America and Europe are the other key contributors to the global dimethylolpropionic acid market majorly due to ongoing research & development activities for novel application development.
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