Dodecanedioic acid, also known as DDDA, is an organic compound that belongs to a class of dicarboxylic acids. It is a white crystalline solid with a high melting point and is soluble in most organic solvents. DDDA finds wide applications in the manufacturing of polyamide resins which are used to produce powder coatings for various industrial and automotive components. These polyamide resins provide properties such as good flexibility, adhesion, and chemical resistance to the coatings. The global dodecanedioic acid market is mainly driven by the growing demand for polyamide resins from industries such as construction, automotive, and electronics. Asia Pacific accounts for the largest share in the consumption of polyamide resins owing to rapid industrialization in major economies like China and India.
The global dodecanedioic acid market is estimated to be valued at US$ 720.37 million in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The dodecanedioic acid market is expected to be flourished by the increasing demand from resins manufacturing industry. One of the key drivers is the growing construction activities in emerging economies of Asia Pacific and Central and South America regions which is significantly fueling the demand for powder coatings. Powder coatings provide excellent durability and protection to construction materials and find wide usage in applications like doors, windows, furniture, and piping systems. Additionally, the rising vehicle production worldwide coupled with stringent environmental regulations regarding vehicle emissions is propelling the demand for lightweight and efficient automotive parts which uses polyamide resins extensively. Strict mandates on the use of toxic organic compounds and shift towards bio-based and sustainable chemicals will further augment the market position of dodecanedioic acid over the forecast period.
Segment Analysis
The dodecanedioic acid market is dominated by the plasticizer segment, which accounted for over 50% of the total market share in 2024. Dodecanedioic acid is predominantly used in the manufacturing of plasticizers such as polyester polyols which are used to make polyurethanes and alkyd resins. The plasticizers end-use segment dominated due to increasing demand for polyurethanes and alkyd resins from industries such as construction and paints & coatings.
PEST Analysis
Political: There are no significant political risks affecting the dodecanedioic acid market.
Economic: The global economy growth is driving demand from end-use industries such as construction and automotive industries which spurs market growth.
Social: Increasing population and changing lifestyle trends are increasing demand for eco-friendly materials and bio-based chemicals which presents market opportunities.
Technological: Manufacturers are focusing on developing new production technologies to reduce manufacturing costs and leveraging big data for demand forecasting.
Key Takeaways
The global dodecanedioic acid market share is expected to witness high growth during the forecast period of 2024 to 2031. The global dodecanedioic acid market is estimated to be valued at US$ 720.37 million in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.
The Asia Pacific region dominated the market and is expected to grow at the fastest rate over the coming years. China accounted for over 30% of the global market share in 2024 driven by large production capacities and growing end-use industries in the country.
Key players
operating in the dodecanedioic acid market are The Coconut Company (UK) Ltd., Tirumala Food Industries, Enature Organic Products, Ayam Sarl, Nestlé S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, and Star Heritage Products. The major players are focusing on expanding production capacities to cater to the growing demand for bio-based chemicals and leverage opportunities in the paints, coatings, and plasticizers applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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