by Dimethylolpropionic acid (DMPA) is an organic compound that is widely utilized as a non-foaming additive in concrete admixtures. It helps control the setting time and increases the workability of concrete. DMPA also acts as a plasticizer and water-reducing agent. Rising infrastructure development activities coupled with booming construction industry worldwide has augmented the demand for concrete admixtures and coatings. This in turn is accelerating the consumption of 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:
The increasing applications of DMPA in construction industry has been a major trend shaping the Dimethylolpropionic Acid Market size. DMPA is used as an additive in concrete admixture to improve workability and permeability. It allows easier mixing of concrete ingredients and placement of concrete. This helps increase productivity and quality of construction projects. Rapid urbanization and infrastructure development activities have fuelled the demand for concrete globally. The rising construction of roads, bridges, buildings, and other structures has significantly boosted the consumption of concrete admixtures containing DMPA. This has supported the revenue generation of DMPA market players over the recent years.
SWOT Analysis
Strength: Dimethylolpropionic acid has high functionality and reactivity. It is used as a building block in various polymer synthesis which drives its demand.
Weakness: Regulations related to hazardous chemicals can restrain the growth of dimethylolpropionic acid market. High production cost also affects the market.
Opportunity: Rising use of dimethylolpropionic acid in construction chemicals, coatings, and adhesives industries due to its water resistance and bonding properties opens new growth avenues.
Threats: Availability of substitutes like trimethylolpropane limits the market growth of dimethylolpropionic acid. Fluctuations in raw material prices pose major threat.
Key Takeaways
The global dimethylolpropionic acid market is expected to witness high growth. The market size stood at US$ 603.65 Bn in 2024 and is forecast to reach US$ 1268.2 Bn by 2031, expanding at a CAGR of 21% during the forecast period.
Regional analysis: North America dominates the global dimethylolpropionic acid market, both in terms of production and consumption. The market in the region is driven by strong demand from construction and coatings industries. Asia Pacific shows high growth potential led by countries like China, India, and South Korea. Increasing construction activities and rapid industrialization supports the market growth in Asia Pacific.
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. These players focus on new product launches and partnerships to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
