The new report by Expert Market Research titled, ‘Global Dodecanedioic Acid Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global dodecanedioic acid market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): 70.5 Kilo Tons
• Forecast CAGR (2023-2028): 5.8%
The expansion of the dodecanedioic acid market is mostly owing to increasing demand and various industrial applications. The widespread use of dodecanedioic acid (DDDA) in paints, engineering plastics, corrosion inhibitors, coatings, adhesives, lubricants, and surfactants has increased demand for the chemical. The chemical DDDA is used to make corrosion inhibitors, which are widely utilised in water treatment, chemical, pulp and paper, and other industrial facilities.
The widespread use of dodecanedioic acid (DDDA) in paints, engineering plastics, corrosion inhibitors, coatings, adhesives, lubricants, and surfactants has increased demand for the chemical. Additionally, the industry is being propelled by the presence of a strong industrial base in emerging economies. The market is expanding due to rising demand for plastic resin, manufacturing resin, and paints & coatings. The growth in various industrial vectors is most likely to propel the market growth of the chemical during the forecast period.
Dodecanedioic Acid Industry Definition and Major Segments
Dodecanedioic acid (DDDA) is a dicarboxylic acid that is employed for the production for antiseptics, high-grade coatings, painting materials, corrosion inhibitors, surfactants, and engineering polymers. Corrosion inhibitors are made from DDDA and are utilised in chemicals, water treatment, pulp and paper, and other industrial facilities. It’s also employed in the powder coating manufacturing process. Polyester, particularly epoxy resins and polyamide, is one of the most common uses for DDDA. Dodecanedioic acid is a dodecane-derived alpha, omega-dicarboxylic acid that oxidises methyl groups to carboxylic acids. It’s made up of dodecane hydride.
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By application, the market is divided into:
• Resins
• Powder Coatings
• Adhesives
• Lubricants
• Others
By region, the industry is categorised into:
• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa
Dodecanedioic Acid Market Trends
As emerging countries become more industrialised, the need for adhesives, lubricants, and nylons is likely to rise. DDDA demand is expected to rise as demand for paints and coatings, particularly powder coatings, grows. Construction activity is on the rise all around the world, which is having an impact on product demand. The advantages of nylon in the vehicle sector, including flexibility, thermal stability, and high scratch resistance, have contributed to an increase in nylon demand from developing countries like China and India. These features have resulted in increased product usage in the automotive industry.
In the coming years, the rising need for lubricants and adhesives will fuel demand for dodecanedioic acid. Increasing nylon producers’ research & development funding for product innovation is expected to have a favourable impact on the market throughout the forecast period. Nylon is in high demand due to increased demand for screws, gears, and fabrics. These factors are expected to propel the market further during the forecast period.
Paints, construction materials, corrosion inhibitors, adhesives, lubricants, coatings, and surfactants are all made with this substance. Furthermore, the growth of a strong industrial base in emerging nations is driving the dodecanedioic acid market. Emerging economies are predicted to have a higher need for lubricants, adhesives, and nylons as a result of increasing industrialisation. The need for DDDA is predicted to increase as the demand for paints and coatings grows, particularly in powder coatings. Consumer demand is typically influenced by improving construction activities around the world.
The necessity for nylon’s favourable properties such as durability, heat tolerance, and excellent scratch resistance in the automobile industry has resulted in increased demand from growing nations such as China and India. The rising need for bio-adhesives is projected to provide profitable prospects for bio-dodecanedioic acid in the future. Renewable feedstock has allowed DDDA companies to lower costs and expand their market share in highly regulated regions such as North America and Europe. Because of its heating properties, nylon is increasingly being used in the creation of high-performance thermoplastics in the dodecanedioic acid sector.
Key Market Players
The major players in the market are Koch Industries, Inc., BASF SE (OTCMKTS: BASFY), Ube Industries, Ltd. , Zibo Guangtong Chemical Co., Ltd., Evonik Industries AG, Cathay Industrial Biotech Ltd., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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