Dimethylolpropionic Acid (DMPA) Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2031
The global Dimethylolpropionic Acid (DMPA) Market is forecast to expand at 8% CAGR for the forecast period of 2021-2031. Need for durable coatings for heavy duty applications drives the market growth. Rising employment of DMPA in electric appliances and HVAC systems paved way for exponential growth of dimethylolpropionic acid market . High quality and durable coating produced using electro-deposition is one of the major factors driving the market growth, evaluated ESOMAR-certified consulting firm Future Market Insights. According to the study, COVID-19 pandemic negatively impacted the market in short term basis. Pandemic led to closure of manufacturing facilities leading to slump in dimethylolpropionic acid market demands. The situation is expected to improve by the end of 2021 with relaxation in lockdown and restoration of supply chain. "Surging application of polyester resin in lifestyle and fashion industry along with boom in construction industry will bec...