Menu ×

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, and Lubricants) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

  • Text Size:

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.

Request Insights

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

Read More

IN THE NEWS

  • 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.

  • 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 2023 - 2033

 

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 601.5 Million

Forecast Year Market Size (2033)

~ USD 1419.3 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global dodecanedioic acid market is estimated to garner a revenue of ~ USD 1419.3 Million by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 601.5 Million in the year 2022. The primary factor of the dodecanedioic market growth is the boom in manufacturing industry, owing to its great usage in varied processes. 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 market overview image

Get more information on this report:Request Sample PDF

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.

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 market overview image

  • 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

  • Toxic in Nature and Harmful for Human Population – While producing dodecanedioic acid, a lot of harmful chemicals are being used owing to which the nature of dodecanedioic acid is turned into toxic. The toxic nature is highly harmful for environment as well as human which is expected to pose a challenge for market growth.

  • Strict Government Regulations

  • Rising Awareness about Environmental Protection

The global dodecanedioic acid market is segmented and analyzed for demand and supply by application into resin, powder coatings, adhesives, and lubricants. Out of these, the resin segment held the largest market share of 60% in the year 2022 backed by the growing demand for nylon in a wide range of industries, particularly in the automotive and paint industries. Moreover, there are many types of resins made from dodecanedioic acid, including epoxy resins, aromatic hydrocarbon resins, and many other components. Various industrial applications require these resins. As a result of the growing demand for performance plastics in the transportation and construction industries, the demand for plastic resins has increased. This factor is anticipated to augment segment growth during the forecast period.

Global Dodecanedioic Acid Market Regional Synopsis

The Asia Pacific dodecanedioic acid market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, with a market share of 38% in the year 2022.  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 as it would smoothen up the production rate of the acid. 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, owing to its great usage. It was estimated that the industrial production rate in China rose with a 4% rate from July 2020 to July 2022.

dodecanedioic market share iamge

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 (60%)
  • Powder Coatings (18%)
  • Adhesives (13%)
  • Lubricants (9%)

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

 

 

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2022 Research Nester. All Rights Reserved