Long Chain Diacids Market Was Valued at USD 1,297.3 million in 2021 Owing to Increased Applications of Long-Chain Dibasic Acid

According to Precision Business Insights (PBI) latest report the global long chain diacids market is valued at USD 1,297.3 million in 2021. Global long chain diacids market segmented into following types: By Product (C9, C10, C11, C12, C14, C16, and C18) and Geography (North America, Europe, Asia-Pacific, Latin-America, and Middle East Africa) Forecast to 2028. Key player's profiles in the long chain diacids market report are Henan Junheng Industrial Group Biotechnology Co., Ltd, Shandong Guangtong New Materials Co., Ltd., AECOCHEM, Cathay Industrial Biotech, Palmary Chemical, Invista, Zibo Guangtong Chemical, BASF. The long chain diacids market is anticipated to be valued at USD 1374.5 Million in 2022 and is expanded to grow at a significant CAGR of 6.0% over 2022-2028. Long-chain dibasic acid's increasing utilization in end-use industries is predicted to propel the market forward in the future forecast period because of rising construction sector demand, and the coatings business has gained pace in recent decades. Over the forecast period, the market is likely to be driven by increased demand for long-chain dicarboxylic acids from applications such as lubricants, powder coatings, and corrosion inhibitors. The high cost of acid and fluctuations in raw material prices are expected to hinder the market over the forecast years.

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C10 product Segment Dominates the Long Chain Diacids Market
Due to a significant rise in demand for eco-friendly chemicals across the globe and rising demand for high-performance chemicals from end-use industries, the C10 product segment accounted for a larger revenue share in 2021 and was projected to grow at a CAGR of 6.1 percent from 2022 to 2028 to reach USD 815.2 Mn by 2028. LCDA applications have a minimal environmental impact because they are biodegradable. This is likely to accelerate its use in solvents.

Europe Leads Long Chain Diacids Market
Due to increased demand for high-performance polyamide, adhesives, and other eco-friendly chemicals in the region, Europe accounted for a higher revenue share in the global long-chain dibasic acid market in 2021. In addition, the market's growth is aided by strict government regulation and industrial initiatives for sustainable development. The Asia Pacific is expected to undergo significant market growth in the coming years because of the rising demand for high-performance chemicals and region's growing manufacturing sectors.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global long chain diacids market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In June 2021, Cathay Biotech Inc. has announced the on-going operations at its Wusu plant and the successful start of production of its bio-based monomers and polymers. The manufacturing of bio-based PDA and PA5X commenced in the middle of 2021.

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The long chain diacids market detailed segmentation.
Based on the Product, the market is segmented into the following:
• C9
• C10
• C11
• C12
• C14
• C16
• C18
• Other Co-polymers

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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