Dodecanedioic Acid Market Size, Share & Trends Growth [2032]
Dodecanedioic Acid Market Size, Share & Trends Growth [2032]
Segments - Dodecanedioic Acid Market by Application (Powder Coatings, Adhesives, Resins, Lubricants, and Others), End-user (Paints & Coatings, Engineering Plastics, Adhesives & Sealants, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024–2032
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| Report ID :FB-6527
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Report Description
Dodecanedioic Acid Market Outlook 2032
The global dodecanedioic acid market size was USD 519 Million in 2023 and is projected to reach USD 826.08 Billion by 2032, expanding at a CAGR of 5.3% during 2024–2032. The market growth is attributed to the growing utilization of dodecanedioic acid in various industries.
Growing demand for polyamide fibers is resulting in high utilization of dodecanedioic acid as raw material, which further boosts the market. For instance, according to the report published on December 11, 2023, global polyamide production reached 6.21 million metric tons in 2022. Dodecanedioic acid enhances the properties of nylon fibers and other polyamides, resulting in high-quality fabrics used in apparel, carpets, and industrial textiles. Moreover, the increased focus on improving the efficiency and productivity of nylon fiber production boosts the demand for dodecanedioic acid.
Impact of Artificial Intelligence (AI) on the Dodecanedioic Acid Market
The use of artificial intelligence is likely to boost the dodecanedioic acid market. AI-powered systems optimize production processes, enhance quality control, and streamline supply chain management. Furthermore, AI-enabled technologies streamline workflow and reduce waste generation, thereby improving the production process.
Dodecanedioic Acid Market Dynamics
Major Drivers
Rising demand for nylon is expected to drive the market during the forecast period. Dodecanedioic acid is essential for producing nylon 6,12, a robust and lightweight material used in automotive components, such as engine covers, fuel lines, and airbags. Moreover, the growing adoption of electric vehicles, which require lightweight components for improved efficiency and range, is projected to boost the demand for dodecanedioic acid in the automotive industry.
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As per the report published by the International Energy Agency, approximately 14 million new electric vehicles were sold globally in 2023.
Existing Restraints
Fluctuations in raw material prices hamper the dodecanedioic acid market. The production of this acid primarily relies on the availability of raw materials, such as butadiene, which is derived from petroleum or natural gas. However, shortages in the supply of this material impact the overall production cost of dodecanedioic acid, thereby affecting its widespread adoption.
Emerging Opportunities
Increasing demand for bio-based dodecanedioic acid creates immense opportunities for the players competing in the market. Manufacturers are investing in research and development to develop efficient and cost-effective processes for producing bio-based dodecanedioic acid. Furthermore, the adoption of bio-based dodecanedioic acid aligns with corporate sustainability goals and enhances brand reputation, thereby boosting its acceptance and adoption in various industries.
Scope of the Dodecanedioic Acid Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.
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Attributes |
Details |
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Report Title |
Dodecanedioic Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2023 |
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Historic Data |
2017 -2022 |
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Forecast Period |
2024–2032 |
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Segmentation |
Application (Powder Coatings, Adhesives, Resins, Lubricants, and Others) and End-user (Paints & Coatings, Engineering Plastics, Adhesives & Sealants, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
INVISTA; BASF SE; Cathay Biotech Inc; UBE Corporation; Santa Cruz Biotechnology Inc; and WeylChem International GmbH |
Regional Outlook
In terms of region, the global dodecanedioic acid market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held a major market share in 2023, due to the rapid expansion of the automotive industry, where dodecanedioic acid finds extensive applications in adhesives, coatings, and paints. For instance, as per the report published on February 27, 2024, China's automotive industry produced approximately 26.1 million passenger cars in 2023. Additionally, the increasing disposable income of consumers in the region boosts the demand for automotive and textile products, thus boosting the dodecanedioic acid market in this region.
The market in North America is projected to grow at a significant pace in the coming years, owing to the growing demand for bio-based alternatives across various industries. Bio-based dodecanedioic acid offers a sustainable and environmentally friendly option compared to its petroleum-based counterpart. Additionally, advancements in biotechnology and process optimization made bio-based dodecanedioic acid production cost-effective and scalable, thereby fueling its adoption.
Dodecanedioic Acid Market Segment Insights
Application Segment Analysis
Based on application, the dodecanedioic acid market is divided into powder coatings, adhesives, resins, lubricants, and others. The lubricants segment is expected to expand at a significant growth rate during the projected period, due to the growing demand for high-performance lubricants in various industries.
Dodecanedioic acid derivatives exhibit excellent lubricating properties and thermal stability, making them ideal additives. Additionally, the shift toward bio-based and environmentally friendly lubricants, including dodecanedioic acid derivatives, further boosts the segment.
End-user Segment Analysis
Based on end-user, the market is segmented into paints & coatings, engineering plastics, adhesives & sealants, and others. The paints & coatings segment dominated the market in terms of revenue generation in 2023. Dodecanedioic acid is used in the production of high-performance coatings due to its excellent chemical resistance and adhesion properties. Additionally, the growing construction activities in emerging economies further boost the consumption of dodecanedioic acid-based paints.
The Engineering plastics segment is projected to register a robust growth rate during the assessment years, owing to the growing utilization of dodecanedioic acid as a key building block in the production of nylon 6,12, or engineering plastic. Engineering plastics are high-performance polymers used in various industries, including automotive, electrical & electronics, and consumer goods, for their superior mechanical properties and thermal stability. Moreover, the growing demand for engineering plastics with high heat resistance and dimensional accuracy further boosts the adoption of dodecanedioic acid-based nylon 6,12.
Segments
The dodecanedioic acid market has been segmented on the basis of
Application
- Powder Coatings
- Adhesives
- Resins
- Lubricants
- Others
End-user
- Paints & Coatings
- Engineering Plastics
- Adhesives & Sealants
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- BASF SE
- Cathay Biotech Inc
- INVISTA
- Santa Cruz Biotechnology Inc
- UBE Corporation
- WeylChem International GmbH
Competitive Landscape
Key players competing in the global dodecanedioic acid market are INVISTA; BASF SE; Cathay Biotech Inc; UBE Corporation; Santa Cruz Biotechnology Inc; and WeylChem International GmbH.
These companies use development strategies including mergers, acquisitions, partnerships, collaboration, and product launches to expand their consumer base worldwide. For instance,
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On March 23, 2024, WeylChem International GmbH acquired a majority stake in Vasant Chemicals, a renowned India-based company specializing in the production of specialty chemicals and pharma intermediates. This acquisition allows WeylChem to enhance its portfolio of fine chemicals and expand its global footprint.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Dodecanedioic Acid Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Dodecanedioic Acid Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Dodecanedioic Acid Market - Supply Chain
4.5. Global Dodecanedioic Acid Market Forecast
4.5.1. Dodecanedioic Acid Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Dodecanedioic Acid Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Dodecanedioic Acid Market Absolute $ Opportunity
5. Global Dodecanedioic Acid Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Dodecanedioic Acid Market Size and Volume Forecast by Applications
5.3.1. Powder Coatings
5.3.2. Adhesives
5.3.3. Resins
5.3.4. Lubricants
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Dodecanedioic Acid Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Dodecanedioic Acid Market Size and Volume Forecast by End Users
6.3.1. Paints & Coatings
6.3.2. Engineering Plastics
6.3.3. Adhesives & Sealants
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Dodecanedioic Acid Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Dodecanedioic Acid Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Dodecanedioic Acid Demand Share Forecast, 2019-2026
8. North America Dodecanedioic Acid Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Dodecanedioic Acid Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Dodecanedioic Acid Market Size and Volume Forecast by Applications
8.4.1. Powder Coatings
8.4.2. Adhesives
8.4.3. Resins
8.4.4. Lubricants
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Dodecanedioic Acid Market Size and Volume Forecast by End Users
8.7.1. Paints & Coatings
8.7.2. Engineering Plastics
8.7.3. Adhesives & Sealants
8.7.4. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Dodecanedioic Acid Demand Share Forecast, 2019-2026
9. Latin America Dodecanedioic Acid Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Dodecanedioic Acid Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Dodecanedioic Acid Market Size and Volume Forecast by Applications
9.4.1. Powder Coatings
9.4.2. Adhesives
9.4.3. Resins
9.4.4. Lubricants
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Dodecanedioic Acid Market Size and Volume Forecast by End Users
9.7.1. Paints & Coatings
9.7.2. Engineering Plastics
9.7.3. Adhesives & Sealants
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Dodecanedioic Acid Demand Share Forecast, 2019-2026
10. Europe Dodecanedioic Acid Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Dodecanedioic Acid Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Dodecanedioic Acid Market Size and Volume Forecast by Applications
10.4.1. Powder Coatings
10.4.2. Adhesives
10.4.3. Resins
10.4.4. Lubricants
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Dodecanedioic Acid Market Size and Volume Forecast by End Users
10.7.1. Paints & Coatings
10.7.2. Engineering Plastics
10.7.3. Adhesives & Sealants
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Dodecanedioic Acid Demand Share Forecast, 2019-2026
11. Asia Pacific Dodecanedioic Acid Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Dodecanedioic Acid Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Dodecanedioic Acid Market Size and Volume Forecast by Applications
11.4.1. Powder Coatings
11.4.2. Adhesives
11.4.3. Resins
11.4.4. Lubricants
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Dodecanedioic Acid Market Size and Volume Forecast by End Users
11.7.1. Paints & Coatings
11.7.2. Engineering Plastics
11.7.3. Adhesives & Sealants
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Dodecanedioic Acid Demand Share Forecast, 2019-2026
12. Middle East & Africa Dodecanedioic Acid Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Dodecanedioic Acid Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Dodecanedioic Acid Market Size and Volume Forecast by Applications
12.4.1. Powder Coatings
12.4.2. Adhesives
12.4.3. Resins
12.4.4. Lubricants
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Dodecanedioic Acid Market Size and Volume Forecast by End Users
12.7.1. Paints & Coatings
12.7.2. Engineering Plastics
12.7.3. Adhesives & Sealants
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Dodecanedioic Acid Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Dodecanedioic Acid Market: Market Share Analysis
13.2. Dodecanedioic Acid Distributors and Customers
13.3. Dodecanedioic Acid Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. BASF SE
13.4.2. Cathay Biotech Inc
13.4.3. INVISTA
13.4.4. Santa Cruz Biotechnology Inc
13.4.5. UBE Corporation
13.4.6. WeylChem International GmbH
Methodology
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