DDDA market size potential worth $599.5mn by 2023
Dodecanedioic Acid (DDDA) Market size was 58.8 kilo tons in 2015, as per the latest research report by Global Market Insights, Inc. Strong production outlook for nylon 6,12 due to wide application scope for manufacturing greases, polyesters, coatings, fragrances detergents and adhesives and should drive global DDDA market size.
Dodecanedioic acid market size may reach USD 599.5 in revenue by 2023. Nylon 6,12 is used for engineering thermoplastics production due to superior heating properties. This has stimulated nylon 6,12 industry demand over the past few years and this trend is expected to continue throughout the forecast period.
Powder coating applications may grow significantly at 6.2% CAGR. Strong application scope for paints and powder coatings production owing to high effectiveness and growth of automobiles & construction industry may drive DDDA market size. Rise in focus on protective coatings usage in the past few years has resulted in significant growth of dodecanedioic acid market in the recent times.
Increasing corrosion inhibitors demand for water treatment, pulp & paper and chemical facilities may subsequently drive DDDA market growth.
Increasing focus for developing sustainable routes based on biomass owing to depleting fossil fuel reserves may favor DDDA market growth. Renewable feedstock has provided the manufacturers with cost reduction opportunities and improved penetration in heavily regulated market such as Europe and North America. Cathay Industrial Biotech, Verdezyne Inc., Invista, and Evonik Industries are spending on R&D for utilization of biological processing methods for various applications.
Verdezyne uses biobased feedstock which includes, plant oils, fatty acids, soap stocks, palm oil, palm kernel and distillates of fatty acid followed by yeast fermentation. Dodecanedioic acid produced from this process can be used as chemical intermediate in production of polymers, coatings, and fibers.
Kew raw materials, cyclododecane, dodecyl alcohol, 1,3 butadiene and hydrogen peroxide are used in the manufacturing process. Tight raw material supply and expected correction in crude oil price index over the next few years may affect DDDA market price trend. Regulatory concerns for VOC emissions along with growing trend towards formulating sustainable paints may hamper industry growth.
To access sample pages or view this report titled, “Dodecanedioic Acid (DDDA) Market Size By Application (Lubricants, Adhesives, Powder Coatings, Resins), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, India), Downstream Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents, please click on the link below:
Key insights from the report include:
- Global DDDA market size should observe 5.5% CAGR, as per industry expectations, with 90.4 kilo tons by 2023.
- Resin application dominated the industry share with over 60% of the total volume in 2015. Increasing nylon usage in fabrics, screws and gears application should drive resin demand.
- APAC, driven by India and China DDDA market size, dominated the industry demand with over 36% of the overall volume in 2015. China resin applications should gain 6.4% CAGR and surpass USD 100 million by 2023.
- Europe, dominated by Germany & UK, may grow at sluggish rates throughout the forecast period. Germany powder coating application may witness 6.0% CAGR and exceed USD 3.5 million in revenue by 2023.
- North America, led by the U.S. industrial growth, may witness 5.7% CAGR. U.S. adhesive applications should see 5.8% CAGR and register over USD 13 million by 2023.
- Latin America, dominated by Brazil manufacturing base, may witness 5.8% CAGR. Latin America lubricant application may witness is set to attain 5.2% CAGR and surpass 700 tons by 2023.
- Global DDDA market share is dominated by Invista, Cathay, UBE and Evonik, together comprising for over 50% of the overall share.
- Other notable companies include Zibo Guangtong, Verdezyne and BASF.
Global Market Insights has segmented the dodecanedioic acid (DDDA) industry on the basis of application and region:
DDDA Market Application Analysis (Volume: Tons, Revenue: USD Million, 2012 – 2023)
- Powder Coatings
DDDA Market Regional Analysis (Volume: Tons, Revenue: USD Million, 2012 – 2023)
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East & Africa (MEA)