The global long chain dicarboxylic acid market is expected to reach
USD 300.3 million by 2025, according to a new report by Grand View Research,
Inc. Rising product use as LCDA applications such as nylon & other
polyamide, powder coatings and lubricants will augment market growth over the
next nine years.
The increasing use of long chain dicarboxylic acid as precursor in
manufacturing of nylon & other polyamides, powder coatings, lubricants,
adhesives, and corrosion inhibitors, applications will fuel the long chain
dicarboxylic acid demand. Rising application scope of nylon & other
polyamides in automotive and building construction is expected to propel long
chain dicarboxylic acid growth over the forecast period.
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Long chain dicarboxylic acid is employed as a key bio-based product
for manufacturing in various applications. LCDA is an environmentally
degradable product which makes its suitable for compliance with various
regulatory norms laid by REACH and EPA in Europe and North America
respectively.
High performance nylon & other polyamide used possess properties
like high strength & stiffness, fatigue resistance, and broad temperature
toleration. High performance nylon is widely used in infrastructure projects
across various geographies of the world. The growth of above stated application
segment is expected to fuel long chain dicarboxylic acid demand over the
forecast period.
Further key
findings from the report suggest:
Long chain dicarboxylic acid market is expected to witness the growth
at a CAGR of 7.0% from 2016 to 2025 due to its biodegradability, which also
offers environmental advantage
Pharmaceuticals as an application of LCDA will witness the fastest
growth in terms of revenue at a CAGR of 8.7% from 2016 to 2024 owing to its
superior bio-based properties
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North America market is expected to witness significant growth and was
estimated at over USD 43 million in 2015 on account of rising infrastructure
development and growing automotive industry
Key participants include Cathay Industrial Biotech Ltd., Shandong
Hilead Biotechnology Co., Ltd, Invista B.V, Zibo Guangtong Chemical Co., Ltd.,
and Evonik Industries AG
Key companies in the market are focused on increasing their global
presence through mergers & acquisitions and plant expansions.
In June 2016, Cathay Industrial Biotech Ltd. announced capacity
expansion for bio-based products that include long chain dibasic acids,
bio-pentane diamine (DN5), and bio-polyamide (bio-PA)
In October 2016, Invista opened a new 2,15,000-ton capacity
hexamethylene diamine (HMD) plant and a 1,50,000-ton capacity polymer plant in
China
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