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CHEMICALS AND ADVANCED MATERIALS

Dodecanedioic Acid Market Analysis by Process (Chemical Process, and Biological Process); by Raw Materials (Butadiene, Paraffin Wax, and Others); by Purity (99%, 98%, and Others); and by Application (Resin, Powder Coatings, Adhesives, Lubricants, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • July, 2022: Koch Industries, Inc. has acquired LIONEX technology from Chemionex Inc. The acquisition will help the company in launching the new proprietary Li-PRO process for direct lithium extraction (DLE) for lithium battery-powered devices.

  • June, 2022: Cathay Biotech Inc. has been successful in operating the Wusu plant and is all set to produce bio-based monomers and polymers

Global Dodecanedioic Acid Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Dodecanedioic Acid Market Growth Table

The global dodecanedioic acid market is estimated to garner a revenue of ~USD 1 billion by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 530 billion in the year 2021. The primary factor of the dodecanedioic market growth is the boom in manufacturing industry. In the latest reports, it was estimated that the manufacturing industry of the United States amounted to be approximately USD 6 trillion in 2022.

Dodecanedioic Acid Market Overview

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Dodecanedioic acid is being highly utilized in the manufacturing of cosmetics, coatings, lubricants, fragrances, tooth brushes, adhesives, lubricants, and pharmaceuticals among others, and growing demand for manufacturing resin is anticipated to influence the market in the positive way. Thus, the increase in number of manufacturing businesses across the world is expected to bring lucrative opportunities for the key players for global dodecanedioic acid market in the assessment period. In 2022, it was projected that the number of businesses in the manufacturing industry of the United States counted to be 638,590 in total.  

Market Definition

Dodecanedioic acid, also known as DDDA is a dicarboxylic acid. This acid utilized in top-grade antiseptics, surfactant, antiseptics, painting materials, corrosion inhibitor, and engineering polymers including nylon 612. The material is utilized in the manufacturing corrosion inhibitors that are widely used chemical, pulp & paper, and water treatment, among other industrial facilities.

Global Dodecanedioic Acid Market: Growth Drivers and Challenges

Growth Drivers

  • Rapid Urbanization and Industrialization – The rapid urbanization and industrialization has propelled high demand adhesives, lubricants and heat resistant thermoplastics. This increased demand is expected to speed up the growth rate of the global dodecanedioic acid market. The statistics given by the World Bank states that 57% of the total population has been categorized as urban population, equivalent to approx. 4.5 million people. Further, this number is projected to get doubled with 7 out of 10 people of the world living in the urban settlements.

Dodecanedioic Acid Market Growth Drivers

  • Growth of Automotive Sector – The favorable properties such as heat stability, flexibility, and scratch resistance is pushing the adoption rate of dodecanedioic acid in the automotive industry. Thus, the boom in the automotive industry is anticipated to expand the dodecanedioic acid market size in the forecast period. India’s automotive industry is expected to garner 200 billion dollars by 2031, making it the 3rd largest automotive industry in the world.

  • Boom in Chemical Industry – The emerging technologies in India has propelled the Indian chemical industry to grow by a CAGR of 10% with a revenue of USD 300 billion by 2025.

  • Growth in Research and Development Expenditure – Recently, World Bank calculated the global research and development expenditure to be 2.63% of total Gross Domestic Product (GDP) in 2020. This is a considerable increase from 2.2% in 2018.

Challenges

  • Strict Government Regulations
  • Toxic in Nature and Harmful for Human Population
  • Rising Awareness about Environmental Protection

The dodecanedioic acid market is segmented and analyzed for demand and supply by application into resin, powder coatings, adhesives, lubricants, and others. Out of these, the powder coatings segment is anticipated to garner the largest dodecanedioic market share by 2031, owing to large market volume.  The latest reports stated that the market volume of powder coatings was almost 3 million tons worldwide. Further, it is forecasted that the number is surpass 5 million by 2025.

Major Macro-Economic Indicators Impacting the Market Growth

Dodecanedioic Acid Market Region

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Dodecanedioic Acid Market Regional Synopsis

Regionally, the global dodecanedioic acid market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031. The rising support from the governments in the region to expand the chemical industry is one of the factors that is expected to swell the dodecanedioic acid market. In India, around USD 26 million was allocated by the government to the Department of Chemicals and Petrochemicals under the Union Budget 2022-23. Another growth factor for the expansion of the dodecanedioic acid is the increased industrial production rate in the region. It was estimated that the industrial production rate in China rose with a 4% rate from July 2020 to July 2022.

Dodecanedioic Acid Market Regional Synopsis

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The global dodecanedioic acid market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global dodecanedioic acid market includes the following segments:

By Process

  • Chemical Process
  • Biological Process

By Raw Materials

  • Butadiene
  • Paraffin Wax
  • Others

By Purity

  • 99%
  • 98%
  • Others

By Application

  • Resin
  • Powder Coatings
  • Adhesives, Lubricants
  • Others

Top Featured Companies Dominating the Global Dodecanedioic Acid Market

  • Cathay Biotech Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Evonik Industries AG
  • Koch Industries, Inc.
  • Santa Cruz Biotechnology, Inc.
  • UBE Corporation
  • Zibo Guangcheng Chemical Co., Ltd
  • Merck Group
  • Chemceed
  • BASF
  • The Dow Chemical Company

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