by Dodecanedioic acid (DDDA) is an organic compound classified as a dicarboxylic acid. It is a white crystalline powder and finds applications as an intermediate in the production of polyamides, plasticizers, sealants and adhesives. DDDA provides good oxygen barrier properties to polymers and enhances adhesive qualities. The global dodecanedioic acid market demand is primarily driven by increasing use of adhesives in the automotive and constructions industries. Adhesives provide durable bonding and are lightweight alternatives to welding and mechanical fasteners. With rapid urbanization, infrastructure development and automotive manufacturing are booming, thereby propelling the need for DDDA.
The Global Dodecanedioic Acid Market is estimated to be valued at US$ 720.37 Mn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Dodecanedioic Acid 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, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd.
The growing demand for plastics, coatings and personal care products is positively influencing the dodecanedioic acid market. DDDA based polyamides are increasingly used in plastic bottles, food packaging and engineering plastics owing to their barrier properties and durability. Rapid industrialization and rising disposable incomes are fueling the sales of consumer goods which in turn is propelling the DDDA market.
Technological advancements such as fermentation process has reduced the cost of production of DDDA and made it economically viable for mass market applications. Major players are investing in R&D to develop fungal and bacterial strains with higher yields to optimize fermentation process and meet large scale commercial demands of DDDA.
Market trends
There is a rising demand for bio-based and sustainable chemicals. Plant-derived DDDA produced through fermentation is poised to gain popularity as it provides an eco-friendly alternative to petrochemical derived DDDA. Manufacturers are investing in upgrading bio-refineries to fulfill the massive requirement of DDDA for green applications.
Development of novel polymers by incorporating DDDA is another key trend. DDDA based polyamides are lightweight and exhibits higher strength, glass transition temperature and lower moisture permeability. They are favored for engineering thermoplastics replacing conventional plastics.
Market Opportunities
Increasing consumption of personal care products in emerging nations presents lucrative scope for DDDA market. DDDA based polymers are used as thickening and stabilizing agents in hair gels, lotions, creams owing to theirthickening, film-forming and suspension capabilities.
Growing electric vehicles market opens opportunities for DDDA market. DDDA resins are gaining importance aspotting and casting materials for lithium-ion batteries owing to their high heat and chemical resistance properties. They provide durable insulation and safety in electric vehicles batteries.
Impact of COVID-19 on Dodecanedioic Acid Market Growth
The outbreak of COVID-19 pandemic adversely impacted the growth of dodecanedioic acid market in the initial months of 2020. Government imposed nationwide lockdowns hampered supply chain and disrupted production activities across various end-use industries including cosmetics, lubricants, coatings etc. This led to decline in demand for dodecanedioic acid during the period. However, with gradual lifting of lockdowns and resumption of operations, the market is expected to recover over the coming years. Market players are focusing on establishing strategic partnerships and expanding production capacities to cater to increasing demand post COVID. Meanwhile, changing consumer behavior and demand for sustainable bio-based products is likely to drive market growth going forward. The market is anticipated to witness steady expansion through 2024 and beyond, provided negative impact of any subsequent pandemic waves remains limited.
Geographical Regions with Highest Dodecanedioic Acid Market Value
The Asia Pacific region currently accounts for the largest share of the global dodecanedioic acid market in terms of value. Countries like China, India and Japan are major consumers as well as producers of dodecanedioic acid owing to presence of robust chemical industries. Availability of low cost raw materials and labor coupled with growing end-use applications in paints, coatings, lubricants and cosmetics sectors has boosted demand in the region. North America is another major regional market encouraged by strong demand from automotive and construction industries of the US and Canada. Meanwhile, Middle East & Africa is expected to emerge as the fastest growing regional market over the coming years on account of ongoing industrialization and infrastructure development activities.
Fastest Growing Regional Market for Dodecanedioic Acid
The Middle East and Africa region is poised to witness the fastest expansion in dodecanedioic acid market over the forecast period from 2024 to 2030. This can be attributed to ongoing infrastructure development projects and rising investments in end-use industries across nations such as Saudi Arabia, UAE, South Africa and Egypt. In particular, growth in automotive, construction and packaging sectors would accentuate MEA demand. Also, governments are investing heavily to industrialize their economies and boost domestic manufacturing. This is anticipated to fuel consumption of dodecanedioic acid for various applications including polymeric plasticizers, lubricants and nylon resins over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
