Long Chain Diacids Market: By Product (C9, C10, C11, C12, C14, C16, C18), and Geography

Long Chain Diacids Market was estimated at at USD 1,297.3 million in 2022 and is poised to grow at a CAGR of 6.0% from 2023-2029. Growth of end-use industries which consumes long-chain dibasic acids drives the market. Long-chain dibasic acid is widely recognized as the primary raw material for various applications in a variety of end-use industries, including adhesives, coatings, personal care & cosmetics, and others. The growing application of long-chain dibasic acid in end-use industries is expected to drive the market's growth in the coming forecast period. The coatings industry has been gaining traction over the last couple of decades due to increasing construction industry demand. Growing demand from the personal care & cosmetics segment is also anticipated to propel the market growth of the long-chain dibasic acid market in the coming forecast period. Increased use of nylon and other polyamides, lubricants, pharmaceuticals, powder coatings, corrosion inhibitors, and adhesives in end industries such as automotive and building is expected to drive industry growth over the next nine years. Since the last few years, key players in the long-chain dibasic acid market have been focusing on increasing their production capacities in existing plants or establishing new projects to capture the regional market of the long-chain dibasic acid market in regions where demand has risen, allowing for higher production capacities to meet global as well as regional demand. In 2021, the C10 product segment accounted for a larger revenue share and was projected to grow with a CAGR of 6.1% from 2022 to 2028 to reach USD 815.2 Mn by 2028. The significant rise in demand for eco-friendly chemicals across the globe and rising demand for high-performance chemicals from the end-use industries support the market growth.