Global Long Chain Dicarboxylic Acid Market Size Likely to Expand at a CAGR of 7.2% By 2033

As per the current market research conducted by the CMI Team, the global Long Chain Dicarboxylic Acid Market size is expected to record a CAGR of 7.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 344.6 Million. By 2033, the valuation is anticipated to reach USD 644.4 Million.

Long Chain Dicarboxylic Acid Market: Growth Factors and Dynamics

• Increasing Demand from Nylon Production: LCDAs are essential intermediates in the production of nylon polymers, which are extensively used in textiles, automotive components, and industrial applications. The growing demand for nylon fibers and resins is a significant driver for the LCDA market.

• Expansion in Coatings and Adhesives Industry: LCDAs are utilized in the formulation of high-performance coatings, adhesives, and sealants due to their excellent chemical resistance and durability. The expanding construction, automotive, and electronics sectors are driving the demand for these applications.

• Rising Popularity in Powder Coatings: LCDA contributes to the production of specialty powder coatings, which offer superior durability, weather resistance, and corrosion protection. Increasing adoption in industries such as automotive refinishing, architecture, and electronics is fueling market growth.

• Shift towards Sustainable Materials: There is a growing emphasis on sustainability and eco-friendly products in various industries. LCDA, being derived from renewable feedstocks and offering recyclability in certain applications, align well with these trends, driving their adoption.

• Technological Advancements and Product Innovations: Ongoing advancements in chemical processes and innovations in LCDA production technologies are enhancing efficiency, reducing production costs, and expanding the range of applications. This technological progress is stimulating market growth.

• Regional Growth and Market Expansion: Emerging economies in Asia Pacific and Latin America are witnessing rapid industrialization and urbanization, driving demand for LCDA in the construction, automotive, and consumer goods sectors. North America and Europe continue to be significant markets due to their established industrial base and stringent quality standards.

• Regulatory Support and Standards: Stringent regulatory frameworks promoting environmental sustainability and product quality standards are influencing market dynamics. Compliance with regulations regarding emissions, product safety, and recyclability is shaping the adoption of LCDA in different industries.

• Investment in Research and Development: Continued investment in research and development initiatives aimed at enhancing the performance and expanding the application scope of LCDA is a significant driver. Innovations in sustainable production methods, novel applications, and product differentiation are driving market competitiveness and growth.

Long Chain Dicarboxylic Acid Market: Partnership and Acquisitions

• In 2023, DuPont entered into a definitive agreement to acquire Spectrum Plastics Group from AEA Investors. This acquisition aims to strengthen DuPont’s portfolio in packaging, biopharma & pharma processing, and medical devices, solidifying its presence in the healthcare market.

• In 2022, INVISTA launched the Asia Innovation Center at the Shanghai International Chemical New Materials Innovation Center (INNOGREEN) at SCIP. This state-of-the-art facility focuses on meeting the application demands of engineering polymers in key sectors such as automotive and electrical & electronics.

Report Scope

Long Chain Dicarboxylic Acid Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Long Chain Dicarboxylic Acid Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Supply Chain Disruptions: The COVID-19 pandemic caused disruptions in global supply chains, affecting the availability of raw materials crucial for Long Chain Dicarboxylic Acids (LCDA) production. This led to fluctuating production schedules and increased costs, impacting market stability.

• Reduced Demand from End-Use Industries: Many industries, including automotive, construction, and electronics, experienced reduced demand during lockdowns and economic slowdowns. This decline affected the consumption of LCDA in coatings, adhesives, and other applications, highlighting vulnerabilities in market demand.

• Resumption of Industrial Activities: As economies recover and industrial activities resume, there is an anticipated rebound in demand for LCDA across sectors like automotive, construction, and electronics, supporting market growth and stability.

• Technological Advancements and Innovation: Ongoing advancements and innovation in LCDA production methods and applications are expected to enhance efficiency, reduce costs, and open up new market opportunities, driving recovery and future growth.

• Government Stimulus Packages and Incentives: Government stimulus packages and incentives aimed at economic recovery and sustainability could accelerate investments in LCDA production and applications, fostering market expansion and resilience.

• Adoption of Sustainable Practices: Post-pandemic emphasis on sustainability and environmental responsibility is likely to drive demand for LCDA, which offers eco-friendly solutions in coatings, adhesives, and other applications, supporting long-term market recovery.

• Strategic Partnerships and Collaborations: Collaborations between industry players and research institutions to develop innovative applications and optimize production processes for LCDA are crucial for market recovery and sustained growth in the coming years.

• Diversification of Supply Chains: Companies are diversifying their supply chains to mitigate future disruptions, ensuring stable access to raw materials for LCDA production and improving resilience against external shocks. This strategic approach supports market recovery and growth.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Long Chain Dicarboxylic Acid Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Long Chain Dicarboxylic Acid Market:

• Invista S.à r.l.
• BASF SE
• Dupont de Nemours Inc.
• Cathay Industrial Biotech Ltd.
• Toyobo Co. Ltd.
• Evonik Industries AG
• Santa Cruz Biotechnology Inc.
• Shandong Hilead Biotechnology Co. Ltd.
• Lianyungang JTD Chemical Industry Co. Ltd.
• Henan Tianfu Chemical Co. Ltd.
• Haihang Industry Co. Ltd.
• Sigma-Aldrich Co. LLC
• Wuhan Rison Trading Co. Ltd.
• Cabb Chemicals
• Hangzhou Dayangchem Co, Ltd.
• Others

The Long Chain Dicarboxylic Acid Market is segmented as follows:

By Application

• Nylon
• Powder Coatings
• Lubricants
• Adhesives
• Pharmaceuticals
• Corrosion Inhibitors
• Others

By Properties

• Heat Resistance
• Durability
• Strength

By End-Use Industry

• Automotive
• Textiles
• Coatings
• Electronics
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America