April 17, 2024
Dodecanedioic Acid Market

Dodecanedioic Acid Market is Anticipated to Witness High Growth Owing to Increasing Demand in Manufacturing Polyesters & Resins

The dodecanedioic acid market is primarily driven by increasing demand in manufacturing polyesters & resins. Dodecanedioic acid is an organic compound that finds widespread applications in manufacturing polyesters and resins due to its good thermal and chemical resistance properties. It is used to produce polyamide resins and dimer acid based polyamides that are used in coatings, adhesives, and printing inks industries. 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, and Pulau Sambu Singapore Pte Ltd. These key players account for major share in the global market. The Coconut Company (UK) Ltd is one of the leading players offering wide range of dodecanedioic acid products.

There is high growth prospective in end use industries like coatings, adhesives, lubricants etc. expanding at a robust pace globally. Asia Pacific region especially China and India are witnessing highest growth in end use industries driving high demand for dodecanedioic acid.

Key players are focusing on global expansion plans by investing in developing regions through partnerships, mergers and acquisition. For instance, in 2023 Nestle partnered with India based Renuka Foods to expand its food manufacturing facilities to cater growing domestic and export demand.

Market Drivers
– Growing demand from coatings industry where it is used to produce polyester polyols and alkyd resins exhibiting properties like corrosion resistance, high durability and gloss.
– Increasing application in manufacturing polyamide resins and dimer acid based polyamides that find use in various end use industries like coatings, adhesives, printing inks etc.

Market Restraints
– Availability of substitutes like azelaic acid and brassylic acid poses threat to dodecanedioic acid market.
– Volatility in raw material prices especially crude oil which is key source for deriving dodecanedioic acid negatively impacts production costs.
Segment Analysis
The dodecanedioic acid market is dominated by nylon 12,12 segment. Nylon 12,12 is primarily used in the production of plasticizers, which find application in various industries such as automotive and construction. Nylon 12,12 based plasticizers exhibit superior properties such as high melting point and resistance to degradation. This has resulted in the widespread adoption of nylon 12,12 in the plasticizer industry.

Global Analysis
The Asia Pacific region is the fastest growing as well as dominating regional market for dodecanedioic acid. This is attributed to large presence of end-use industries such as automotive, construction, and electronics in countries such as China, India and Japan. Significant investments by market players in these countries to cater to the rising demand from local industries has further augmented the growth of dodecanedioic acid market in the region. Countries like China dominate the global production of dodecanedioic acid primarily due to availability of raw materials and cheap labor.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it