Dimethylolpropionic acid or DMPA is an organic compound that finds wide application as a curing agent in coatings, adhesives and binders. It helps impart excellent moisture resistance, water solubility and flex qualities. DMPA is used in construction materials such as tile adhesives, grout and floor finishing products. The global construction industry has witnessed steady growth over the past few years on account of rapid urbanization, infrastructure projects and rising spending power. Countries in Asia Pacific and Middle East are expected to drive significant construction activities in the coming years. The increasing use of advanced construction materials with desired properties has propelled the demand for DMPA.
The global Dimethylolpropionic Acid Market 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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends fuelling growth in the global Dimethylolpropionic acid market size is its increasing consumption in concrete floor coatings. DMPA when added to concrete floor coatings helps improve adhesion, flexibility and freeze/thaw resistance of the finish. This has enabled wider use of coated concrete floors in commercial and residential infrastructure. Moreover, stringent environmental regulations regarding emission of volatile organic compounds from floor coatings is further boosting the replacement of traditional coating agents with bio-based and low VOC alternatives like DMPA. Leading coating manufacturers are focusing on developing advanced low odor and zero VOC flooring systems incorporating DMPA to capitalize on growth opportunities in the green building movement.
Segment Analysis
The global dimethylolpropionic acid market is dominated by the paints and coatings subsegment. Dimethylolpropionic acid finds wide application in manufacturing various paints and coating formulations due to its ability to act as an excellent crosslinking agent. It allows for the production of protective and durable paints and coatings with high-quality finishing. The growth of the paints and coatings industry across major economies is driving the demand for dimethylolpropionic acid.
Key Takeaways
The global dimethylolpropionic acid market is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: The Asia Pacific region dominates the global dimethylolpropionic acid market and is anticipated to maintain its leading position during the forecast period. This can be attributed to flourishing industries such as automotive, construction, and paints & coatings in China, India, Japan, and other developing Asian countries. The growing infrastructure development activities are further propelling the demand for dimethylolpropionic acid in the region.
Key players operating in the dimethylolpropionic acid market are Active Motif, Inc., Illumina, Inc., Life Technologies, Affymetrix, Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Qiagen, Knome, Inc., GE Healthcare, Geneva Bioinformatics SA, Quest Diagnostics, bitBiome, Inc., Intomics, Advanced BioInformatics GmbH, and Fios Genomics Ltd.
Explore Our More Blogs Here: https://www.ukwebwire.com/dimethylolpropionic-acid-market-share-and-opportunity-analysis/
Comments
0 comment