Dimethylolpropionic acid manufacturers are experimenting with potential drug delivery applications to sustain growth through the coronavirus crisis.
DUBAI, UAE / ACCESSWIRE / July 16, 2020 / Future Market Insights: The dimethylolpropionic acid market is expected to witness decelerated demand for the duration of the pandemic, in terms of producing polyurethane dispersions for coating and adhesive industries, who have been forced to temporarily suspend operations to comply with wide ranging lockdown restrictions. On the other hand, dimethylolpropionic acid is gaining traction for dendrimeric molecules in drug delivery applications, which can partially recover losses arising during the pandemic period.
"DMPA is rapidly becoming popular in the automotive industry for powder coating and polyester resin applications. The material has found roles in the production of printing inks and chemicals used for photographic processes. These niche applications will contribute to further market growth once the pandemic is brought under control," states the FMI analyst.
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Dimethylolpropionic Acid Market- Critical Takeaways
- Polyurethane dispersion applications will contribute substantially to revenue streams owing to uses in automotive coating, wood finishing, glass fiber, and adhesives.
- More than 99% purity variants are rapidly gaining demand, bolstered by novel applications in drug delivery systems.
- Asia Pacific is a major market for DMPA, supported by major production facilities within China and India.
Dimethylolpropionic Acid Market- Drivers
- Strong demand for polyester resins on a global scale for industrial applications supports market growth.
- Rapid expansion of end use verticals including furniture, textile, construction and electronics generates key growth opportunities.
- Rising scope of use for powder coatings within the automotive industry is a major growth driver.
Dimethylolpropionic Acids Market- Restraints
- Easy availability of affordable alternatives such as DMBA, TME, and TMP will hinder market growth.
- Volatility in the pricing of DMPA is a persistent challenge for market players.
Coronavirus Impact on Dimethylolpropionic Acid Market
The dimethylolpropionic acid market is likely to be moderately impacted by the onset of the coronavirus pandemic. Disruptions in the coatings and adhesives industries, and end use verticals such as construction and automotive production will hinder market growth in the short term. However, novel applications in drug delivery systems will allow market players to potentially mitigate some of the losses arising during the crisis period.
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Competitive Landscape
Manufacturers in the dimethylolpropionic acid market are largely seeking to expand production facilities in addition to new product launches. For instance, BASF has revealed its investment in polyurethane dispersion site in Spain. Geo Specialty Chemicals Inc., Shenzen Vtolo Chemicals Co. Ltd., Perstop Specialty Chemicals AB, Jiangxi Nancheng Hongdu Chemical Technology Development, and Henan Tianfu Chemical Co. Ltd. are some of the leading dimethylolpropionic acid manufacturers.
About the Study
The study offers readers a comprehensive assessment of the dimethylolpropionic acid market. Global, regional and national-level analysis of the latest trends influencing the dimethylolpropionic acid market is covered in this FMI report. The study provides insights according to product type (less than 95% , between 95 and 97%, between 97 and 99%, and more than 99%), and application (resins, polyurethane dispersion, powder coatings, and electrodeposition coatings), in seven regions (North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan, and MEA).
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SOURCE: Future Market Insights
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