USD 472.83 million
Dodecanedioic Acid Market Size, Share, Growth Analysis, By Application(Resins, Powder Coating, Adhesives, Lubricants), By End Use(Paints and Coatings, Adhesives and Sealants, Engineering Plastics, Others.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2294 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
66
|Figures:
75
Dodecanedioic Acid Market Insights
Dodecanedioic Acid Market size was valued at USD 472.83 million in 2021 and is poised to grow from USD 496 million in 2022 to USD 693.28 million by 2030, at a CAGR of 4.9% during the forecast period (2023-2030).
The market growth is being influenced by the growing demand for nylon in emerging economies like China and India, particularly in the automotive sector. Nylon is preferred in this industry due to its advantageous properties such as flexibility, heat stability, and high scratch resistance.
The automotive segment's strong demand for nylon is expected to drive the market for dodecanedioic acid (DDDA) in the coming years. The increasing demand for lubricants and adhesives is also a significant factor contributing to the future demand for DDDA.
Additionally, nylon producers are investing in research and development to innovate and enhance their products, which is expected to have a positive impact on the DDDA market in the near future. Furthermore, the high demand for nylon in various applications such as screws, gears, and fabrics is further fueling the utilization of DDDA.
The market's expansion can be credited to the extensive usage of the product across diverse industries like paints, engineering plastics, corrosion inhibitors, coatings, adhesives, lubricants, and surfactants. Furthermore, the presence of robust manufacturing sectors in emerging economies is propelling market growth.
The swift industrialization in these economies is anticipated to escalate the need for adhesives, lubricants, and nylons. Moreover, there is a growing need for dodecanedioic acid (DDDA) due to the rising demand for paints and coatings, particularly in the case of powder coatings. This surge in demand for DDDA is further boosting the market.
Furthermore, the expanding construction industry is also playing a significant role in driving the demand for the product.
US Dodecanedioic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Paints and Coatings
Fastest Growth
Paints and Coatings
Growth Rate
4.9% CAGR
Global Dodecanedioic Acid Market ($ Bn)
Country Share for Asia Pacific region (%)
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Dodecanedioic Acid Market Segmental Analysis
The global dodecanedioic acid market is segmented on the application, end use, and region. By application, the market is segmented into resins, powder coating, adhesives, lubricants, and others. By end use, the market is segmented into paints and coatings, adhesives and sealants, engineering plastics, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Dodecanedioic Acid Market Analysis by Application
The resins segment emerged as the dominant sector in the DDDA market, accounting for over 60% of the total revenue share in 2022. This growth can be attributed to the rising demand for nylon from diverse end-use industries, particularly the automotive sector. The automotive industry's increasing preference for nylon, which offers exceptional properties such as strength, flexibility, and heat resistance, has significantly contributed to the surge in demand for DDDA. Additionally, the paints industry is projected to drive the demand for DDDA as well. The growing need for high-performance coatings and paints, including powder coatings, is anticipated to fuel the demand for DDDA in the forthcoming years.
The powder coatings segment is anticipated to exhibit rapid growth with the highest compound annual growth rate (CAGR). This can be attributed to the distinct features it offers, such as flexibility to polyesters and exceptional heat resistance. Furthermore, powder coatings are renowned for being solvent-free and generating minimal emissions of volatile organic compounds (VOC), rendering them environmentally friendly. These qualities contribute to their increasing popularity as a sustainable coating option in various industries.
Dodecanedioic Acid Market Analysis by End Use
The paints and coatings industry is a major consumer of DDDA. DDDA is used as a raw material in the production of powder coatings, which offer excellent durability, resistance to chemicals, and enhanced aesthetics. Powder coatings have gained popularity due to their eco-friendly nature, as they contain no volatile organic compounds (VOCs). The demand for powder coatings is increasing, particularly in the automotive, architectural, and industrial sectors. This makes the paints and coatings segment the dominant end-user segment for DDDA.
The fastest-growing segments include adhesives and sealants, engineering plastics, and other applications such as corrosion inhibitors, lubricants, surfactants, and resins DDDA is also widely used in the production of adhesives and sealants. The automotive and construction industries, in particular, rely on DDDA-based adhesives and sealants for various applications, such as bonding components, sealing joints, and ensuring structural integrity. The increasing demand for adhesives and sealants in these industries contributes to the fast growth of this end-user segment.
Global Dodecanedioic Acid Market By End Use
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Dodecanedioic Acid Market Regional Insights
The Asia Pacific region emerged as the leading market for dodecanedioic acid (DDDA) in 2022, capturing over 30% of the total revenue share. This dominance can be attributed to the growing domestic consumption of DDDA by key economies like China, Malaysia, and Japan. These countries have witnessed a rise in demand for DDDA across various industries. Moreover, the presence of supportive regulations aimed at attracting investments has created a favorable business environment in the region, further bolstering the growth of the DDDA market in Asia Pacific.
Europe is poised for substantial growth in the projected time frame, primarily driven by the increasing production of powder coatings in countries like Germany. This surge in powder coatings manufacturing is anticipated to bolster the demand for dodecanedioic acid (DDDA) in the region. Moreover, market players are closely monitoring advancements and developments in the acid, recognizing them as opportunities for market expansion and innovation. This outlook presents a positive trajectory for the DDDA market in Europe, fostering further growth and market competitiveness.
Global Dodecanedioic Acid Market By Geography
- Largest
- Fastest
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Dodecanedioic Acid Market Dynamics
Dodecanedioic Acid Market Drivers
Favorable Properties of DDDA
- DDDA possesses favorable properties that make it attractive for various applications. These include its flexibility, heat stability, and high resistance to chemicals. DDDA-based products exhibit excellent mechanical properties, such as high tensile strength and impact resistance, making them suitable for engineering plastics. Moreover, DDDA is solvent-free and produces minimal emissions of volatile organic compounds (VOCs), making it environmentally friendly and in line with stringent regulations on emissions.
- The ongoing rapid industrialization and infrastructure development in emerging economies contribute to the growth of the DDDA market. These economies, particularly in Asia-Pacific, witness significant investments in automotive, construction, and manufacturing sectors, which are key consumers of DDDA. The expanding industrial base and infrastructure projects drive the demand for DDDA-based products, stimulating market growth.
Dodecanedioic Acid Market Restraints
Limited Availability of Raw Material
- The limited availability of certain raw materials required for DDDA production can pose challenges for market growth. For instance, butadiene, a key raw material, is derived from petroleum or natural gas, and its availability may be influenced by factors such as oil prices and geopolitical events. Limited availability can lead to supply chain disruptions and hinder market expansion.
- While DDDA offers favorable properties for various applications, there is a limited awareness of its benefits among end-users. Additionally, alternative materials or technologies may pose competition to DDDA in certain applications. The limited awareness and availability of alternatives can pose challenges to the market's growth potential.
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Dodecanedioic Acid Market Competitive Landscape
These companies operate in various regions and play a significant role in the global DDDA market, contributing to its growth through product development, strategic collaborations, and market expansion efforts. The competitive landscape is driven by factors such as technological advancements, research and development activities, and the ability to cater to diverse end-user industries.
Dodecanedioic Acid Market Top Player’s Company Profiles
- Invista (United States)
- BASF SE (Germany)
- UBE Industries Ltd. (Japan)
- Cathay Industrial Biotech Ltd. (China)
- Ascend Performance Materials LLC (United States)
- Verdezyne Inc. (United States)
- Evonik Industries AG (Germany)
- Zibo Guangtong Chemical Co., Ltd. (China)
- Santa Cruz Biotechnology Inc. (United States)
- Zibo Guangzheng Aluminum Science and Technology Co., Ltd. (China)
- Xiamen Hisunny Chemical Co., Ltd. (China)
- Shandong Fine Chemical Technology Co., Ltd. (China)
- Henan Tianfu Chemical Co., Ltd. (China)
- Penta Manufacturing Company (United States)
- Zibo Micflon New Material Co., Ltd. (China)
- Kewpie Corporation (Japan)
- Anhui Royal Chemical Co., Ltd. (China)
- Chemland Group Inc. (United States)
- Henan Eastar Chemicals Co., Ltd. (China)
- Salicylates and Chemicals Pvt. Ltd. (India)
Dodecanedioic Acid Market Recent Developments
- In January 2023, Merck KGaA announced the launch of its new dodecanedioic acid product line. The products are designed for use in a variety of applications, including nylon production, coatings, and adhesives.
- In January 2022, BASF unveiled its intentions to increase the production of polyamide 6.6 (Nylon-6) in Freiburg, Germany. This move is expected to support the growth of BASF's Nylon-6,6 business, which was acquired from Solvay. As dodecanedioic acid plays a crucial role in the production of nylon 6, the expansion plans are likely to have a positive impact on the dodecanedioic acid market.
Dodecanedioic Acid Key Market Trends
Growing Focus on Sustainable Solutions
- Sustainability has become a key focus across industries, leading to a greater emphasis on eco-friendly materials and processes. DDDA offers several environmental advantages, such as being solvent-free and producing minimal emissions of volatile organic compounds (VOCs). As a result, DDDA is gaining popularity as a sustainable alternative in various applications, including powder coatings and environmentally friendly adhesives. The trend towards sustainability is expected to drive the demand for DDDA in the coming years.
Dodecanedioic Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the dominant region in the DDDA market is Asia-Pacific, driven by the robust growth of end-use industries such as automotive, construction, and paints and coatings in countries like China and India. On the other hand, the fastest-growing region is expected to be North America, fuelled by the rising demand for eco-friendly and sustainable materials in industries such as automotive and packaging. The dominant segment in the DDDA market is the paints and coatings segment, owing to the increasing demand for powder coatings with excellent durability and resistance to chemicals. The fastest-growing segment is adhesives and sealants, driven by the expanding automotive and construction industries' demand for DDDA-based adhesives with superior adhesion and flexibility. Key drivers of the DDDA market include the growing demand for DDDA in end-use industries such as paints and coatings, adhesives, and engineering plastics. DDDA's eco-friendly nature, low volatile organic compound (VOC) emissions, and excellent properties, including heat resistance and flexibility, further contribute to its market growth. Moreover, technological advancements, product innovations, and strategic collaborations among market players are driving the expansion of the DDDA market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 472.83 million |
| Market size value in 2031 | USD 693.28 million |
| Growth Rate | 4.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Dodecanedioic Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Dodecanedioic Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Dodecanedioic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Dodecanedioic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Dodecanedioic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Dodecanedioic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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