Covid-19 Impact on Dodecanedioic Acid Market Size to surge at 5.9% CAGR is expected to reach $678.4 Million in 2025

March 2021 | Report Format: Electronic (PDF)

Dodecanedioic Acid Market Growth & Trends

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.

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.

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Dodecanedioic Acid Market Report

Dodecanedioic Acid Market Report Highlights

• 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.