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DODECANEDIOIC ACID MARKET ANALYSIS

Dodecanedioic Acid Market, By Application (Resins, Powder Coatings, Adhesives, Lubricants, and Others (Pharmaceutical, Fragrance, etc.)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

  • Published In : Jun 2024
  • Code : CMI5009
  • Pages :150
  • Formats :
      Excel and PDF
  • Industry : Polymers and Resins

Dodecanedioic Acid Market Size and Trends

The dodecanedioic acid market is estimated to be valued at USD 544.7 Mn in 2024 and is expected to reach USD 756.3 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031.

Dodecanedioic Acid Market Key Factors

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Over the forecast period, growth of industries like plastics & polymers, textiles, and chemicals is expected to drive the demand for dodecanedioic acid. It is prominently used in the manufacturing of nylon which finds a wide range of applications ranging from fibers & fabrics, films & laminates to industrial engineering resins. The textile industry especially synthetic apparel manufacturing is a major consumer for nylon, thus any growth in textiles will boost the utilization of dodecanedioic acid. Additionally, the rising use of polyamide resins in coatings, adhesives, and sealants will further support the expansion of the market during the period of assessment.

Growing demand from nylon production and other end-use industries

Dodecanedioic acid finds numerous applications in the manufacturing of nylon and other specialty polymers. Its versatility and functionality make it an important intermediate in the production of nylon 12, plasticizers, polyurethanes and various coating resins. Dodecanedioic acid is a primary raw material used for manufacturing nylon 12, also known as nylon 1212 or Zytel. Nylon 12 has gained substantial acceptance owing to its engineering plastics properties like durability, strength, and resistance to oil, chemicals and moisture. It is extensively used across a wide range of applications from automotive to consumer goods. The rising automotive production worldwide along with the replacement of conventional materials with high performance plastics is fueling the demand for nylon 12. As nylon 12 production is expected to grow continuously in the coming years on account of its widespread use, it will positively influence the consumption of dodecanedioic acid.  Apart from nylon production, dodecanedioic acid also finds application as a building block in the manufacture of polybutylene adipate terephthalate (PBAT), which serves as a substitute for traditional plastics. The market is witnessing heightened awareness and regulatory push towards the adoption of bio-based and biodegradable plastics across industries. This has led to an increased focus on developing sustainable plastic alternatives derived from plant-based renewable resources. PBAT fits well within this paradigm as it is easily biodegradable but still provides desirable mechanical properties for packaging and other applications. With strict bans imposed on single-use plastics and regulations promoting bio-plastics, the demand for PBAT is projected to grow exponentially in the coming years. As PBAT manufacturing rises exponentially, it will have significant repercussions on the consumption of dodecanedioic acid as well.

Market Concentration and Competitive Landscape

Dodecanedioic Acid Market Concentration By Players

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Rapid capacity expansions by prominent manufacturers

Many industry leaders in the dodecanedioic acid production landscape have announced plans to expand their manufacturing capacities significantly over the coming years to meet the growing worldwide demand. For instance, a key multinational chemical company in recent times has unveiled its strategy to ramp up the dodecanedioic acid output by setting up a new integrated facility with an annual capacity of 100,000 tons in China.

Key Takeaways of Analyst:

The dodecanedioic acid market is poised to grow at a steady pace over the next five years. The increasing demand from paints and coatings application is a major driver for the market. Dodecanedioic acid finds wide use as a raw material in the manufacturing of polyamide 12 resin which is further used to produce paints and coatings with high durability and chemical resistance.

Fluctuations in raw material prices remain a key challenge for producers. As dodecanedioic acid is produced from butadiene which is a petroleum-based product, its prices track crude oil price movements closely. Volatility in crude oil prices can negatively impact production costs.

North America is anticipated to exhibit the highest growth owing to the increasing demand from industries such as lubricants, adhesives, and coatings. The rising construction spending in the U.S. is also driving more consumption of coatings with properties enabled by dodecanedioic acid and its polymers.

Market Challenges: Volatility in crude oil prices

The volatility in crude oil prices has emerged as a major challenge restricting the growth of the global dodecanedioic acid market. Dodecanedioic acid, also known as DD acid, is primarily manufactured by the oxidation of crude oil. Hence, the fluctuating crude oil prices directly impact the production cost and supply of DD acid in the market. When crude oil prices rise, it increases the input costs for DD acid manufacturers substantially. This reduces their profit margins and discourages capacity expansion plans. It also leads manufacturers to hike the prices of DD acid to pass on some of the increased costs to customers. The elevated prices can dampen the demand from end-use industries like plastics, powder coatings, adhesives etc. that utilize DD acid as a raw material. This disruption in demand-supply equilibrium acts as a growth deterrent for the overall market.

Market Opportunities: Expanding applications in polyurethane industry

The polyurethane industry has been experiencing steady growth due to the versatile properties of polyurethane materials. Polyurethanes are widely used in applications such as furniture, bedding, insulation, automotive, footwear, and many others due to their cushioning, flexibility and sealing capabilities. Dodecanedioic acid plays a crucial role as a raw material in the production of polyurethanes. As the demand for polyurethanes rises with expanding end-use applications, the requirement for dodecanedioic acid is also growing. 

Dodecanedioic Acid Market By Application

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Insights by Application: Resins Segment Drives the Dodecanedioic Acid Market Owing to Wide Range of Applications

In terms of application, resins is expected to contribute 64.3% share of the dodecanedioic acid market in 2024, owing to its wide usage across end-use industries. Dodecanedioic acid finds major applications in the production of resins where it is used as a monomer or co-monomer. It can be polymerized with other monomers to produce polyamide and polyester resins with desirable properties. Dodecanedioic acid-based resins have superior moisture resistance, excellent flexibility and thermal stability. They offer protective characteristics making them suitable for usage in protective coatings for materials that need to withstand corrosion, moisture and temperature variations. As a result, dodecanedioic acid derived resins see substantial demand from the paints and coatings industry. Their protective properties enhance the durability and life of various substrates. The resins segment also gains from the usage of dodecanedioic acid in powder coatings. These coatings have established themselves as an environment-friendly and efficient alternative to liquid coatings. Dodecanedioic acid-based polyamide resins form the backbone of many powder coating formulations owing to properties like mechanical strength, gloss retention, and corrosion resistance. Their wide compatibility with substrates increases applicability in various end-use sectors, Thus, the resins segment is positioned strongly and contributes the dominant share in the global dodecanedioic acid market.

Regional Insights

Dodecanedioic Acid Market Regional Insights

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North America has emerged as the largest regional market for dodecanedioic acid. The region accounts for over 35.3% market share of the global demand, driven primarily by the well-established chemical and plastics industries in the U.S. and Canada. Major players have been operating in North America for decades and have deep penetration across various end-use segments such as nylon and plasticizer production. Furthermore, the presence of prominent research institutes supports technological advancements related to dodecanedioic acid and its derivatives. This helps North American companies to maintain leadership positions globally. However, industry experts anticipate the region's share to slightly decline as new regulations aim to reduce dependency on petroleum-based raw materials.

The Asia Pacific region has been witnessing rapid growth in the dodecanedioic acid market over the past few years and is emerging as the fastest growing regional market. China is the largest consumer as well as producer globally. This can be attributed to the nation's massive chemical industry and the government's strong support for its development. Additionally, economic growth in India and Southeast Asian countries such as Indonesia, Thailand, and Vietnam has augmented the polymer and chemical demand, providing a boost to domestic dodecanedioic acid consumption. Asian manufacturers have also made heavy investments in R&D to indigenize production which enhances price competitiveness and self-sufficiency. The availability of skilled labor at competitive costs further accelerates capacity expansions in the region. Going forward, thriving construction and automotive industries are expected to upsurge consumption in Asia Pacific.

Market Report Scope

Dodecanedioic Acid Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 544.7 Mn
Historical Data for: 2019 To 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 4.8% 2031 Value Projection: US$ 756.3 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: South Africa, GCC Countries, Israel, and Rest of Middle East & Africa
Segments covered:
  • By Application: Resins, Powder Coatings, Adhesives, Lubricants, and Others (Pharmaceutical, Fragrance, etc.) 
Companies covered:

Invista, Verdezyne, BASF SE, Cathay Industrial Biotech, UBE Industries, Santa Cruz Biotechnology, Cathay, Evonik, BEYO Chemical Co., Ltd., Chemceed, Evonik Industries AG, Haihang Industry, Selleck Chemicals, Serena Chemicals, and TCI Chemicals (India) Pvt. Ltd.)

Growth Drivers:
  • Growing demand from nylon production and other end-use industries
  • Rapid capacity expansions by prominent manufacturers
Restraints & Challenges:
  • Growing demand from nylon production and other end-use industries
  • Rapid capacity expansions by prominent manufacturers

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Dodecanedioic Acid Industry News

  • In January 2023, Merck KGaA announced the launch of its new dodecanedioic acid product line. The products are designed for use in a variety of applications including nylon production, coatings, and adhesives.

*Definition: The dodecanedioic acid market is a specialty chemical market that involves the production and sale of dodecanedioic acid. Dodecanedioic acid, also known as 1, 12-dodecanedioic acid, is an organic compound that is used as a monomer for the production of durable polyesters, polyamides, polyurethanes, and plasticizers.

Market Segmentation

  • Application Insights (Revenue, USD Mn, 2019 - 2031)
    • Resins
    • Powder Coatings
    • Adhesives
    • Lubricants
    • Others (Pharmaceutical, Fragrance, etc.)
  • Regional Insights (Revenue, USD Mn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC Countries
      • Israel
      • Rest of Middle East & Africa
  • Key Players Insights
    • Invista
    • Verdezyne
    • BASF SE
    • Cathay Industrial Biotech
    • UBE Industries
    • Santa Cruz Biotechnology
    • Cathay
    • Evonik
    • BEYO Chemical Co., Ltd.
    • Chemceed
    • Evonik Industries AG
    • Haihang Industry
    • Selleck Chemicals
    • Serena Chemicals
    • TCI Chemicals (India) Pvt. Ltd.

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About Author

Yash Doshi is a Senior Management Consultant. He has 12+ years of experience in conducting research and handling consulting projects across verticals in APAC, EMEA, and the Americas.

He brings strong acumen in helping chemical companies navigate complex challenges and identify growth opportunities. He has deep expertise across the chemicals value chain, including commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals. Yash is a sought-after speaker at industry conferences and contributes to various publications on topics related commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals.

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Frequently Asked Questions

The global Dodecanedioic Acid Market size is estimated to be valued at USD 544.7 million in 2024 and is expected to reach USD 756.3 million in 2031.

The CAGR of the global dodecanedioic acid market is projected to be 4.8% from 2024 to 2031.

Growing demand from nylon production and other end-use industries and rapid capacity expansions by prominent manufacturers are the major factors driving the growth of the global dodecanedioic acid market.

Volatility in crude oil prices and stringent environmental regulations are the major factors hampering the growth of the global dodecanedioic acid market.

In terms of application, resins is estimated to dominate the market revenue share in 2024.

Invista, Verdezyne, BASF SE, Cathay Industrial Biotech, UBE Industries, Santa Cruz Biotechnology, Cathay, Evonik, BEYO Chemical Co., Ltd., Chemceed, Evonik Industries AG, Haihang Industry, Selleck Chemicals, Serena Chemicals, and TCI Chemicals (India) Pvt. Ltd. are the major players.

North America is expected to lead the global dodecanedioic acid market.
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Credibility and Certifications

ESOMAR
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Clutch
Credibility and Certification
Credibility and Certification

9001:2015

Credibility and Certification

27001:2022

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