Nylon 6,12, which is widely used for manufacturing thermoplastics has a huge demand as it finds applications across several industries in form of coatings, detergents, greases, and fragrances among others. Dodecanedioic acid is also used as a raw material in making of powder coatings, plasticizers, polyamide resins, corrosion inhibitors among several others. Thus, increasing applications of dodecanedioic acid coupled with growing demand for high-performance nylon 6,12 is projected to fuel the demand for global dodecanedioic acid market size over the forecast period.
The global market for the Dodecanedioic Acid (DDDA) is anticipated to develop at a compound annual growth rate (CAGR) of 7.7 % throughout the course of the forecast, to reach US$ 1,074.0 million by 2030.
Dodecanedioic acid (DDDA) is a C12 diabasic acid/dicarboxylic acid. In terms of physical appearance, it is a white solid with a flaky form. The chemical is melting point of 128OC and is insoluble in water at room temperature. However, solubility rapidly increases with higher temperatures. Dodecanedioic acid has a long shelf life of around three years depending upon the storage method.
Dodecanedioic acid is manufactured by two methods, namely synthetic production in which DDDA is produced from butadiene and biotech production where biotechnology is used for converting paraffin wax into DDDA. Owing to their aforementioned properties & chemical composition, dodecanedioic acid (DDDA) is widely used for manufacturing polyurethane, polyesters and polyamide resins. But the major application which drives the demand for the global dodecanedioic acid (DDDA) market is the production of nylon 6,12. Nylon 6,12 has a large number of applications across diverse industry verticals but its major demand is from the automotive industry. It is used to produce lightweight components where it is used in underhood parts and fuel systems. Polyamide also finds a greater degree of application in electronics and packaging applications. Thus, resins are projected to maintain its dominance in the global dodecanedioic acid (DDDA) market with CAGR 3.4% over the forecast period.
Apart from its application in the production of resins, dodecanedioic acid (DDDA) is also used as a curing agent for acrylic powder coatings/paints. DDDA is also used as a raw material for a variety of organic synthesis processes as well as synthetic musk fragrances. It is also used as a corrosion inhibitor in metalworking fluids. Dodecanedioic acid (DDDA) is commonly used in capacitor electrolytes, adhesives, diester synthetic lubricants, plasticizers, fibers, and epoxy resins. Demand for downstream products such as nylon 6,12, powder coatings, and adhesives among others is consistently increasing owing to growth in end-use segments. Globally, the industrial, automotive and construction sectors are witnessing positive growth and are projected to continue this trend, which in turn, its propelling growth of the global dodecanedioic acid (DDDA) market size.
Dodecanedioic acid (DDDA) acid is derived from natural resources such as crude oil & natural gas. Volatility and limited availability of the raw material have been driven demand for alternative sources such as crude vegetable oils, which is a bio-based alternative for producing dodecanedioic acid (DDDA). Major companies are planning to adopt bio-based production which is projected to shape the global dodecanedioic acid (DDDA) market in the near future.
Although growing demand across end-use sectors is increasing the demand for DDDA, the current shortage in supply of nylon is projected to act as major impediment in the market growth. The supply crisis, which started in 2017 with hurricane Harvey severely affected INVISTA’s production plant in the U.S., followed by production outages in Europe has negatively affected the global production of nylon. Consequences of these factors are growing consolidation, rising prices and lowering investments for a while. However, the global dodecanedioic acid (DDDA) market size is projected to regain its momentum after 2021.
In terms of regional demand, Asia Pacific, led by China, is projected to dominate the demand owing to high growth trends across end-user industries. China is one of the major producer as well as consumer of dodecanedioic acid (DDDA). North America and Europe are projected to show steady growth over the coming years. Key player in the global dodecanedioic acid (DDDA) market are Invista, Verdezyne, BASF SE, UBE Industries, Zibo Guangtong Chemical Co., Ltd.
Dodecanedioic Acid (DDDA) Market Scope
|Revenue forecast in 2030
|US$ 1,074.0 million
|CAGR of 7.7% during 2020-2030
|by Type, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Verdezyne, Invista, BASF, UBE Industries, Cathay Industrial Biotech, Santa Cruz Biotechnology
Key segments of the global dodecanedioic acid (DDDA) market
Application Overview (USD Million)
- Powder coatings
Regional Overview (USD Million)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa