Dodecanedioic Acid Market Size, Share & Trends Analysis Report By Application (Resins, Powder Coatings, Adhesives, Lubricants), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Dodecanedioic Acid Market Size, Share & Trends Analysis Report By Application (Resins, Powder Coatings, Adhesives, Lubricants), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Dodecanedioic Acid Market Growth & Trends

The global dodecanedioic acid market size is expected to reach USD 729.9 million by 2030, registering a CAGR of 4.9% from 2023 to 2030, as per the new report by Grand View Research, Inc. Increasing use of dodecanedioic acid (DDDA) for the manufacturing of nylon and growing demand for nylon from paints and coatings industry is expected to boost the market in the forecast period.

Asia Pacific accounted for a significant share of the market in the previous years and is expected to grow in the future as well owing to potential demand from the automotive industry from emerging economies like Malaysia, Japan, and India. Moreover, increasing government initiatives for reducing carbon footprints 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 the heating abilities of nylon is an emerging trend in the market. High demand for bio adhesives is predicted to fuel the demand for bio-DDDA in the forecast period. Such potential demand is expected to drive the market considerably in the future.

Inclination towards using eco-friendly bio-based DDDA powder coatings in the automobile industry in Germany is expected to have a positive impact on the market. Such a trend is anticipated to fuel market growth in the near future. Moreover, the rise in demand for nylon-based fabrics is another market driver in the region.

Dodecanedioic Acid Market Report Highlights

• Asia Pacific lead the market in the past years and is expected to grow at a CAGR of 5.2% over the forecast period as well due to the strong manufacturing base of nylon in economies like Japan, India, and China
• Emerging automotive manufacturing hub in Mexico with, growing domestic consumption in North America, along with the U.S. is expected to drive the market in the region in the forthcoming years
• Resin application segment accounted for 63.6% in 2022 and is expected to grow in the future due to growing demand for nylon in China, the U.S., and India on account of increasing innovations, such as flexibility, heat stability, and high scratch resistance in the automotive domain
• Powder coating sector is also expected to grow at a CAGR of 5.5% by 2030 owing to the growing focus on preventive coatings in the developing economies of Asia Pacific, such as China and India
• Renewable feedstock is an opportunity for the players in North America and Europe since it is economic in nature and the growing use of nylon in the manufacture of high-performance thermoplastics owing to its heating abilities is trending in the market

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