PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1655339
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1655339
Global Long Chain Dicarboxylic Acid Market to Reach US$417.7 Million by 2030
The global market for Long Chain Dicarboxylic Acid estimated at US$297.2 Million in the year 2024, is expected to reach US$417.7 Million by 2030, growing at a CAGR of 5.8% over the analysis period 2024-2030. Nylon / Polyamides Application, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$194.3 Million by the end of the analysis period. Growth in the Lubricants Application segment is estimated at 6.3% CAGR over the analysis period.
The U.S. Market is Estimated at US$77.7 Million While China is Forecast to Grow at 8.7% CAGR
The Long Chain Dicarboxylic Acid market in the U.S. is estimated at US$77.7 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$95.3 Million by the year 2030 trailing a CAGR of 8.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
Global Long Chain Dicarboxylic Acid Market - Key Trends & Drivers Summarized
What Are Long Chain Dicarboxylic Acids and Where Are They Used?
Long chain dicarboxylic acids (LCDA) are a group of naturally occurring or synthetically produced organic compounds featuring two carboxyl functional groups attached to a long aliphatic carbon chain, typically containing more than ten carbon atoms. These acids are pivotal in the synthesis of high-performance polymers, nylons, and resins, due to their ability to impart durability, flexibility, and resistance to chemicals and temperature variations. In the industrial sector, LCDAs are used in the manufacture of corrosion inhibitors, lubricants, and adhesives, enhancing the performance and lifespan of machinery and equipment. Additionally, their biodegradability makes them appealing in the development of eco-friendly products, aligning with increasing regulatory and consumer demand for sustainable materials.
How Is the Production of Long Chain Dicarboxylic Acids Evolving?
The production of long chain dicarboxylic acids has significantly evolved with advances in biotechnology and chemical synthesis. Traditional petrochemical processes are gradually being supplemented or replaced by bio-based methods that utilize renewable feedstocks such as vegetable oils and microbial fermentation. This shift is driven by the need to reduce dependency on fossil fuels and decrease carbon emissions associated with industrial processes. Fermentation, in particular, has gained attention for its ability to produce high-purity and structurally diverse LCDAs, which are crucial for high-performance applications. Innovations in genetic engineering and metabolic engineering are enhancing the efficiency and yield of bio-based production routes, opening up new possibilities for cost-effective and environmentally friendly LCDA synthesis.
What Role Do Regulatory Frameworks Play in the LCDA Market?
Regulatory frameworks significantly impact the LCDA market, particularly in regions with stringent environmental laws. In Europe and North America, regulations such as REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) and TSCA (Toxic Substances Control Act) govern the production and use of chemicals, including long chain dicarboxylic acids. These regulations mandate the assessment and management of risks associated with chemical substances, promoting the use of safer and more sustainable alternatives. As a result, there is a growing preference for bio-based LCDAs in these regions, which are perceived as less harmful to human health and the environment. Furthermore, policies encouraging the reduction of greenhouse gas emissions and reliance on sustainable materials continue to drive research and development in bio-based LCDA production technologies.
What Drives the Growth in the Long Chain Dicarboxylic Acid Market?
The growth in the long chain dicarboxylic acid market is driven by several factors related to technological innovations, shifts in end-user industries, and changing regulatory landscapes. The increasing adoption of bio-based products across various sectors, including automotive, aerospace, and consumer goods, fuels demand for sustainable and high-performance materials like LCDAs. Technological advancements in the production of bio-based LCDAs, which offer improved properties and environmental benefits, are making these materials more competitive against traditional petrochemical-derived products. Consumer behavior is also shifting towards more sustainable and eco-friendly products, which boosts the demand for LCDAs in applications such as eco-friendly plastics and biodegradable textiles. Moreover, the expansion of industries in emerging economies presents new opportunities for the application of LCDAs in manufacturing processes. With regulatory bodies worldwide tightening environmental norms, the push towards green chemistry practices further propels the LCDA market growth, as industries seek compliant, sustainable alternatives to conventional acids.
SCOPE OF STUDY:
The report analyzes the Long Chain Dicarboxylic Acid market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Application (Nylon / Polyamides, Lubricants, Corrosion Inhibitors, Powder Coatings, Adhesives, Pharmaceuticals, Other Applications)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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