Future Of Dodecanedioic Acid Market With CAGR Growth Forecast Till 2025 |Grand View Research, Inc.


The global dodecanedioic acid market size is expected to reach USD 678.4 million by 2025, according to a new report by Grand View Research Inc., registering a 5.9% CAGR during the forecast period. Increasing use of dodecanedioic acid (DDDA) for the manufacturing of nylon and growing demand for nylon from the paints and coatings industry is expected to boost the market during the forecast period.

Asia Pacific accounted for a significant share in the market over the past years and is expected to witness steady growth in future owing to potential demand from the automotive industry in emerging economies like Malaysia, Japan, and India. Moreover, increasing government initiatives aimed at reducing carbon footprint by using eco-friendly products is expected to increase the demand for powder coatings.

Increasing use of nylon for the production of high-performance thermoplastics due to heating abilities of nylon is an emerging trend in the market. High demand for bio adhesives is predicted to fuel demand for bio-DDDA during the forecast period.

Major players operating in the market include Invista, Verdezyne, BASF SE, Cathay Industrial Biotech, UBE Industries, Santa Cruz Biotechnology, Cathay, Evonik, Ube, and Invista. The industry has been witnessing an increase in production capacities and easing supply in concurrence to rise in demand in various application sectors. One such example would be of California-based manufacturer Verdazyne, which in 2017, began construction of a new 6,000 ton per year plant in Iskandar, Malaysia.

To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/dodecanedioic-acid-ddda-industry/request/rs4

Inclination for using eco-friendly bio-based DDDA powder coatings in the automobile industry in Germany is expected to have a positive impact on the regional market. Moreover, rise in demand for nylon-based fabrics is will boost market growth in Europe.
Further key findings from the report suggest:
  • Asia Pacific led the dodecanedioic acid market over the past years and is expected to register a revenue-based CAGR of 6.1% during the forecast period. This can be attributed to strong manufacturing base of nylon in countries such as Japan, India, and China
  • Emerging automotive manufacturing hub in Mexico, along with growing domestic consumption, is expected to drive the North America market in the forthcoming years
  • The resin application segment accounted for just under 64.0% in 2018 and is expected to grow in future due to surging demand for nylon in China, U.S., and India. This is driven by favorable properties such as flexibility, heat stability, and high scratch resistance, preferred in the in automotive domain
  • The powder coating segment is expected to exhibit a revenue-based CAGR of 6.4% over the forecast period owing to growing focus on preventive coatings in developing economies of Asia Pacific, such as China and India
  • Renewable feedstock is an opportunity for players in North America and Europe since it is economical in nature. There has also been growing use of nylon in manufacturing high-performance thermoplastics owing to its heating abilities.
Rapid industrialization in emerging economies is anticipated to augment the demand for adhesives, lubricants, and nylons. Rise in demand for paints and coatings, especially in powder coatings, is expected to stimulate demand for DDDA. Surging construction activities across the globe are also simultaneously affecting product demand. Increase in demand for nylon from emerging economies such as China and India can be attributed to favorable features like flexibility, heat stability, and high scratch resistance in the automotive sector. These feature have resulted in increased product usage in the automotive sector.
Rise in demand for lubricants and adhesives will ultimately drive the demand for dodecanedioic acid in the coming years. Increasing research and development funding by nylon producers for product innovation is predicted to positively impact the market over the course of the forecast period. High demand for screws, gears, and fabrics is also increasing the demand for nylon.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-dodecanedioic-acid-market

The resin segment accounted for 63.3% of the global dodecanedioic acid market and is anticipated to lead the market at a CAGR of 6.0% by 2025. Growth of this application segment is attributed to increase in demand for nylon from various end-use industries, especially automotive. Furthermore, increase in demand from the paints industry is expected to propel product demand.
Bio-based DDDA is predicted to replace a significant part of the demand for and use of petroleum-derived DDDA in the forthcoming years. Nonetheless, resin production is expected remain the main application area for bio-DDDA in the forecast period. Emergence of U.S. and Canada as textile hubs is anticipated spur the penetration of production bases for resins, which will ultimately open lucrative opportunities for dodecanedioic acid. The powder coatings segment accounted for 15.6% of the global market and is expected to expand at a CAGR of 6.4% over the forecast period due to features such as offering flexibility to polyesters and excellent heat resistance. Moreover, they are solvent free and produce negligible emissions of VOC, which makes it eco-friendly in nature.
Grand View Research has segmented the global dodecanedioic acid market on the basis of application:
DDDA Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
  • Resins
  • Powder Coating
  • Adhesives
  • Lubricants
  • Others
Owing to the presence of DDDA, powder coatings are hydrolytic resistant. Growing powder sector in developing economies due to increasing applications in automotive, construction, and chemical industries is expected to augment demand for dodecanedioic acid. Rise in demand for powder coatings from Latin America is also affecting the overall market.
Robust manufacturing base in emerging economies such as Japan, China, and India, coupled with rise in demand for powder coatings and industrial paints is expected to drive the demand for nylon. Increasing industrialization and urbanization in developing nations of Asia Pacific is predicted to augment demand for resins and powder coatings.
Rising applications of dodecanedioic acid, such as powder coatings, corrosion inhibitors, paints, adhesives, surfactants, and lubricants, is growing considerably due to improving economies across the globe. However, strict government regulations to control and reduce harmful effects on human population is restraining market growth.

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more