The dodecanedioic acid market is estimated to be valued at USD 544.7 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031. Dodecanedioic acid is an organic compound belonging to the class of alkanedioic acids. It is a white solid that is insoluble in water but soluble in organic solvents. Dodecanedioic acid finds applications in the production of polyester polyols, polyamide resins, lubricating oil additives, and nylon manufacturing. It is produced synthetically by oxidizing 1-dodecanol or through fermentation of microorganisms. Rising demand from various end-use industries like construction, automotive, and packaging is fueling the growth of the dodecanedioic acid market.
Market Dynamics:
The dodecanedioic acid market is witnessing significant growth driven by factors such as growing demand from polyamide resin manufacturers and increasing application in lubricating oil formulations. Polyamide resins derived from dodecanedioic acid exhibits properties like excellent chemical resistance, weatherability, and oil resistance. This makes them suitable for coatings, adhesives, and electrical insulation applications. The extensive use of polyamide resins in the construction, automotive, and industrial sectors is driving polyamide production, which, in turn, is boosting the demand for dodecanedioic acid. Moreover, dodecanedioic acid finds application as a specialty additive in engine and industrial lubricating oils to improve oxidative stability, corrosion protection, and viscosity properties. The growing automobile industry worldwide is fueling the consumption of lubricating oils, thereby propelling the dodecanedioic acid market forward. However, the availability of substitute products and volatile raw material prices can act as restraints. On the positive side, the expansion of end-use industries, coupled with research & development of innovative applications, are expected to create new opportunities for market players over the forecast period.
Key Features of the Study:
Detailed Segmentation-
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