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

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.