Dimethylolpropionic acid is a crystalline compound that is increasingly gaining traction for its extensive use in the development of aqueous urethane dispersions, which are ideal for high gloss waterborne coating offerings with superior flexibility and free-flow characteristics. Dimethylolpropionic acid is also used in powder coatings as a modification agent in epoxy polyester compounds for improving flow properties, higher levels of gloss, and better impact resistance. Furthermore, DMPA is also used in the development of urethane elastomers for multi-substrate applications.
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The growing global demand for electrodeposition coatings particularly, arising from the metals production and processing sector is expected to positively influence market growth. Electro-deposition allows for low-cost production of coatings, while maintaining high performance standards, improving the functional properties of the material. Dimethylolpropionic acid is also widely used in electric appliances such as HVAC systems. Consequently, the use of associated coatings will drive growth over the forecast period.
ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) delivers insights into key factors driving the dimethylolpropionic acid market in its latest report. Additionally, an evaluation of the effect of the COVID-19 pandemic on the dimethylolpropionic acid market in general, and an analysis of sales in 20+ high-growth markets and relevant end-use industries has been provided in the report.
For the past five years, from 2016 to 2020, the dimethylolpropionic acid market has displayed healthy growth with a CAGR of over 8%. Prominent manufacturers including Perstorp Specialty Chemicals AB, Henan Tianfu Chemical Co. Ltd., Jiangxi Nancheng Hongdu Chemical Technology Development Co., Ltd., have encouraged efforts towards portfolio expansion strategies, in addition to strategic collaborations and acquisitions in developed and developing countries.
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As per the Future Market Insights report, the covid-19 pandemic cut into the short-term rate of growth in the dimethylolpropionic acid industry. However, the market is expected to witness a steady recovery through 2021 with an estimated CAGR between 7% and 10%. Countries across the Asia Pacific excluding Japan region will remain major contributors to growth. Increasing awareness and rapid adoption of polyurethane dispersion processes in the United States will provide major impetus to developments of the market in the near future.
Dimethylolpropionic Acid Market – Competitive Landscape
Leading manufacturers in the moderately consolidated dimethylolpropionic acid market are focused increasingly on research and development efforts aimed towards portfolio expansion objectives, in addition to extensive efforts towards seeking strategic acquisitions and collaborations in the industry.
In September 2019, CPS Performance Materials announced the acquisition of GEO Specialty Chemicals, which will allow the company to expand its market portfolio, and special chemicals for personal care and nutrition applications.
In April 2021, CD Bioparticles introduced a series of dendrimers, including DMPA-G1-TMP-Azide, DMPA-G1-TMP-Acetylene, DMPA-G1-TMP-NHBOC, and DMPA-G1-TMP-Carboxyl for applications in coatings, theranostics adhesives, biosensors, and optics.
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Waters™ leading chromatography data software (CDS), Empower™, with the introduction of Metrohm Ion Chromatograph, for applications in universal software platform, aimed towards faster sample turnaround.
Future Market Insights has also analyzed the following players in the dimethylolpropionic acid market in its detailed report*:
- Geo Specialty Chemicals Inc.
- Perstorp Specialty Chemicals AB
- Henan Tianfu Chemical Co. Ltd.
- Jiangxi Nancheng Hongdu Chemical Technology Development Co. Ltd.
- Shenzhen Vtolo Chemicals Co., Ltd.