The dodecanedioic acid market size is anticipated to rise from US$ 866.57 Mn in 2022 and it is anticipated to surpass US$ 1,704.68 Mn by 2032. The dodecanedioic acid (DDDA) market is anticipated to grow at a CAGR of 7% during the forecast period.
The sales of dodecanedioic acid (DDDA) are rising due to:
| Attributes | Details |
|---|---|
| Dodecanedioic Acid Market CAGR | 7% |
| Dodecanedioic Acid Market (2022) | US$ 866.57 Million |
| Dodecanedioic Acid Market (2032) | US$ 1,704.68 Million |
Dodecanedioic acid is used by companies to create several types of nylon resins. Numerous end-use sectors are driving up demand for speciality nylon resins such as epoxy resins, aromatic hydrocarbon resins, phenolic resins, acrylates, lattices, and unsaturated polyester resins.
The rising demand for performance polymers in the building and transportation industries is the cause of the expanding popularity of different kinds of nylon resins. Favourable characteristics like flexibility, heat stability, and excellent scratch resistance in the automotive sector can be ascribed to a surge in demand for nylon from growing nations like China and India.
The automobile industry has witnessed an increase in product adoption as a result of these advantages. Due to the widespread adoption of dodecanedioic acid in the manufacture of paints, engineering plastics, corrosion inhibitors, coatings, adhesives, lubricants, and surfactants, dodecanedioic acid (DDDA) is in high demand.
The sales of dodecanedioic acid are being driven by emerging nations' strong industrial sectors. Depending on how it is stored, dodecanedioic acid has a lengthy shelf life of three years.
“The research-based biopharmaceutical sector is estimated to have spent US$ 210 billion on biopharmaceutical R&D globally in 2020, according to research.”
Dodecanedioic acid has great fatigue resistance and good welding performance due to these characteristics. Due to their great stiffness and strength even at high temperatures as well as their toughness at low temperatures, nylon 6 resins are widely employed as engineering plastics. As a result, dodecanedioic acid manufacturers are more likely to experience growth as engineering plastics are used in more applications.
The manufacturing of polyesters involves the usage of dodecanedioic acid. Numerous products, such as toothbrushes, cosmetics, perfumes, fuel line tubing, and others, are made using these polyesters.
The growth of the global dodecanedioic acid market size is also anticipated to be fueled by the usage of dodecanedioic acid in the production of antiseptics and other medicinal goods, among other things. As a result, the growing cosmetic and pharmaceutical sectors fuel the growth of the global dodecanedioic acid market share.
Dodecanedioic acid (DDDA) is a dicarboxylic acid. DDDA is a white solid with slight odor. Its melting point is 1280C and boiling point is 2500C. DDDA is used in various applications such as surfactants, corrosion inhibitors, paints and medical applications among others. It is used as adhesives, capacitor electrolyte and as plasticizer in various applications.
It can be used as an ingredient for heat transfer fluid and corrosion resistant coats. Additionally, DDDA is used as a stabilizing and curing agent in powder coatings. However, in spite of its’ several applications, the major application of DDDA is polyesters, especially polyamides, epoxy resins. DDDA is manufactured from butadiene through a chemical process. There is no health issue associated with inhalation of DDDA due to its lower vapor pressure. DDDA is neither genotoxic nor mutagenic.
The market for dodecanedioic acid was mainly driven by polyamides market. Dodecanedioic acid is majorly used in manufacturing of polyamide 6,12. Polyamide 6,12 is majorly used in manufacturing nylon products.
DDDA is also used in polyester coatings, diester synthetic lubricants and fibers among others. Dodecanedioic acid is used in flame retardants, fertilizers, flavors and fragrances, cleaning agents and dyestuffs among others. Investing in biodegradable DDDA has been the major opportunity for the dodecanedioic acid market.
The manufactures are focusing on bio-based DDCA in near future. Verdezyne Inc., a U.S. based company is planning to open new DDDA plant in Malaysia. The plant will utilize lauric acid as chemical feedstock in order to manufacture DDDA. The project emphasizes on bio-based DDDA manufacturing. However, environmental issues can act as a major restraint for the dodecanedioic acid market in upcoming years.
In terms of demand, Asia Pacific was the leading region in dodecanedioic acid market. Growing demand of dodecanedioic acid for nylon 6,12 market has been the major driver for the growth in the market. India and China are the major consumers for the DDDA market.
The demand for polyamides and paints products is more in this region helping the DDDA market to grow in this region. Asia Pacific was followed by Europe where the demand for dodecanedioic acid is anticipated to grow in upcoming years owing to huge nylon, adhesives and plasticizers market. The demand for DDDA is more from European countries such as Germany, the UK and Italy.
North America is expected to be growing market for dodecanedioic acid in near future. The demand is likely to grow from textile and industrial end-user applications. There is huge demand for polyamides in this market. The U.S. and Canada are the major consumers in the North America region.
The Rest of the World market is expected to show steady growth for dodecanedioic acid market in upcoming years. The Middle East, North Africa and Latin America are anticipated to exhibit higher demand for DDDA in upcoming years due to increasing demand for nylon products from various end-user applications.
Some of the key manufacturers in the dodecanedioic acid (DDDA) market are Beyo Chemcial Co. Ltd., Cathay Industrial Biotech Ltd., Evonik Industries AG, Invista, Sinopec Qingjiang Petrochemical Co., Ltd. US Biotech Company, Verdezyne, Inc. and Zibo Guangtong Chemical Co.,Ltd. among others.
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Dodecanedioic Acid Market
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