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Key Developments in the Dimeric Fatty Acid Market
- Croda International Plc., a British specialty chemicals company, recently declared its continuous improvement plan, which includes three important investments in the Latin American region. The company has invested in a new innovation and customer experience center and a specialty polymer plant in the region, which is a part of its five-year improvement plan.
- Oleon NV, a leading player in the dimeric fatty acid market which is headquartered in Belgium, has announced the opening of its new isostearic acid production unit. The company has invested around 20 million euro in the new production unit, which will produce dimeric fatty acid and isostearic acid.
- Kraton Corporation, an American manufacturer in the dimeric fatty acid market, announced a global price rise of 10-15% for Tall Oil Rosin (TOR), Tall Oil Fatty Acids (TOFA), and its other derivatives. Later, the company also declared an excused performance, or force majeure, on North America distilled tall oils due to the impacts of Hurricane Michael on its Panama facility. As tall oil is the primary raw material used in the manufacturing of dimer fatty acid, this is likely to induce a significant rise in prices of dimeric fatty acid in the upcoming years.
- Another manufacturer in the dimeric fatty acid market – Florachem Corp., announced that it has moved to a newly-constructed, 30,000 square foot facility near the Port of Jacksonville, Florida. With the investments in this new facility, the company aims to centralize manufacturing and corporate functions and centralized manufacturing and corporate functions. The new location is likely to become a strength for the company as Jacksonville is the Southeast’s premier intermodal port.
The Fact.MR report covers all the recent developments in the dimeric fatty acid market. The report features a list of market leaders and new entrants in the dimeric fatty acid market, including Croda International Plc., Kraton Corporation, Oleon NV, Shandong Huijin Chemical Co. Ltd., Liancheng Baixin Science and Technology Co. Ltd., Jiangsu Jinma Oil Technology Development Co., Ltd., Jiangsu Yonglin Oleochemical Co. Ltd., Anqing Hongyu Chemical Co., Ltd., Aturex Group, Florachem Corp., Emery Oleochemicals GmbH, and Jarchem Industries Inc.
Dimeric Fatty Acid Market to Remain Fragmented among Tier 2 and 3 Market Players
According to the Fact.MR study, Croda International Plc., Oleon NV, and Kraton Corporation are among the leading players in the dimeric fatty acid market. The study finds that Tier 1 players account for around 27% share in the dimeric fatty acid market and the market remains highly fragmented among local players. Inorganic growth is likely to remain the key strategy for Tier 1 manufacturers of dimeric fatty acid, as they are shifting their focus on acquiring local, small-scale manufacturers in the dimeric fatty acid market. Meanwhile, Tier 2 and 3 players are competing on price in regional markets for dimeric fatty acid. As the dimeric fatty acid market is highly fragmented among small or medium-level market players, they are aiming to expand their businesses in the international markets to envisage incremental growth in the upcoming years.
Fluctuating Availability of Raw Materials Remains a Key Challenge
Over 80-85% of dimeric fatty acid is manufactured using tall oil fatty acids (TOFA), which is obtained as a by-product of the Kraft wood pulping process. However, the production of TOFA has declined steadily over the past few years owing to the palpable shift of manufacturers towards pulping younger pine trees with lower chemical content.
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Fluctuating supply of TOFA due to the recent transformations in wood pulping procedures is likely to make a significant impact on growth and salient dynamics of the dimeric fatty acid market in the upcoming years. Uncertainties about the availability of raw materials also suggest a potential rise in prices of dimeric fatty acids in the coming future. In addition, a majority of customers in the end-user industries, such as adhesives, coatings, and printing inks industry, are moving away from dimeric fatty acid-based polyamides due to inadequate supply and increased prices. Thereby, this can make a negative impact on growth of the dimeric fatty acid market.
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