Dodecanedioic Acid Market is Estimated to Witness High Growth Owing to Increasing Demand from Polymer Applications

The global dodecanedioic acid market is expected to surpass US$ 1,074.0 million by the end of 2030 in CAGR of 7.7% during the FP(2022 to 2030).

BURLINGAME, CALIFORNIA, UNITED STATES, May 23, 2024 /EINPresswire.com/ -- Market Overview:

Dodecanedioic acid, also known as diethyl succinate, is an organic compound characterized by its white crystalline solid appearance. It finds wide applications in the production of polyamide 12, polyester polyols, and other polymeric materials. The high thermal and chemical resistance of polyamide 12 made using dodecanedioic acid makes it suitable for automobile and electrical component manufacturing.

Market Dynamics:

Increasing demand for polyamide 12 from the automotive industry is a major factor driving growth of the dodecanedioic acid market. Polyamide 12 is highly heat and chemical resistant and finds application in the manufacturing of enginecovers, oil pans, and fuel systemcomponents of vehicles. Additionally, risingusage of polyester polyols produced using dodecanedioic acid in polyurethane formulations is also fueling market growth. Polyurethane made from these polyester polyols exhibit properties like flexibility, abrasion and chemical resistance and areused widely in furniture, footwear, and building & construction industries. However, volatile raw material prices may hamper market growth over the forecast period.

Dodecanedioic Acid Market Growth Driven by Increased Demand for Polyamide 12 and Adipic Esters and Adipates

The global dodecanedioic acid market growth is primarily driven by the rising demand for polyamide 12 and adipic esters and adipates from various end-use industries such as automotive, chemical, electrical and electronics. Polyamide 12 is extensively used in automotive, consumer goods, industrial/machinery, electronics, and others owing to its high impact strength, low moisture absorption, and excellent chemical resistance properties. The growing automobile production globally is augmenting the demand for polyamide 12 plastics in the manufacture of under-hood components, hoses & tubes, electrical components, and others which in turn is propelling the consumption of dodecanedioic acid in its production.

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Key Players Covered In This Report:

BEYO Chemical Co., Ltd., Cathay Biotech Inc., Chemceed, Evonik Industries AG, Haihang Industry, Selleck Chemicals, Serena Chemicals, TCI Chemicals (India) Pvt. Ltd., Thermo Fisher Scientific Inc., and UBE Industries, Ltd.

Market Segmantation:

By Application: Resins, Powder Coatings, Adhesives, Lubricants, Others (Pharmaceutical, Fragrance, etc.)
Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Adipic esters and adipates find wide applications as plasticizers in the production of polyvinyl chloride (PVC) and other polymers. The expanding global plasticizer market mainly due to infrastructure growth and construction activities is driving the demand for adipic esters and adipates which is positively influencing the dodecanedioic acid market. Moreover, increasing consumption of engineered plastics and composites to replace conventional materials in the automotive industry on account of stringent environmental regulations regarding fuel efficiency and emission reductions is further supplementing the market growth.

Restricted by Environmental Regulations for Dodecanedioic Acid Production

However, the global dodecanedioic acid market growth is constrained by the stringent environmental regulations regarding dodecanedioic acid production. Dodecanedioic acid is commercially produced through metal-catalyzed hydroformylation and oxidation of 1,10-decanediol which generates hazardous by-products such as organic acids, aldehydes, and heavy metals that are toxic in nature. The production and disposal of these by-products during dodecanedioic acid manufacturing are strictly regulated by environmental agencies of various countries to curb their adverse impact on the ecosystem. This significantly increases the production costs for dodecanedioic acid producers. Complying with these regulations requires expensive abatement technologies and treatment facilities. This acts as a major restrain hindering the potential market growth.

Opportunity for Dodecanedioic Acid in Thermoplastic Polyurethane Production

The growing demand for thermoplastic polyurethane (TPU) elastomers globally presents a major opportunity for the expansion of the dodecanedioic acid market during the forecast period. TPU exhibits properties including high flexibility, abrasion resistance, and good aging stability. These attributes make TPU suitable for a wide range of applications in footwear, wire and cable, sports and leisure, automotive, industrial machinery, and medical sectors. Dodecanedioic acid acts as an important intermediate for the production of adipic acid esters which are further utilized as soft segments in TPU synthesis. Thus, with the surging consumption of TPU materials worldwide, the demand for adipic acid esters and consequentially dodecanedioic acid is expected to witness a significant increase over the next few years.

Trend towards Bio-based and Sustainable Dodecanedioic Acid Production

Another key trend gaining traction in the global dodecanedioic acid market is growing emphasis on R&D of cost-effective and eco-friendly bio-based production technologies. At present, dodecanedioic acid is solely produced through petrochemical routes. However, depleting fossil fuel reserves and stringent environmental mandates are propelling research into renewable and sustainable options. Various studies are being conducted to develop fermentation-based and enzymatic bioconversion processes involving microbial hosts and plant lipid substrates such as palm oil, algae, and Jatropha curcas for commercial scale dodecanedioic acid production. The successful completion of these R&D activities is anticipated to reshape the dodecanedioic acid supply chain and address concerns over limited crude oil reserves and pollution in the coming years.

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Dodecanedioic acid market ?
➥ What current trends will influence the market over the next few years?
➥ What are the market’s opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

Mr. Shah
Coherent Market Insights Pvt. Ltd.
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