Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global dodecanedioic acid (DDDA) market is poised for steady growth, with an anticipated size of USD 729.9 million by 2030, exhibiting a promising CAGR of 4.9% from 2023 to 2030.
The increasing utilization of DDDA in the manufacturing of nylon and its rising demand from the paints and coatings industry are significant factors expected to drive market growth during the forecast period. Asia Pacific, which has already accounted for a substantial market share, is expected to witness further expansion, driven by the automotive industry's potential demand in emerging economies such as Malaysia, Japan, and India.
Additionally, the region's increasing focus on reducing carbon footprints through eco-friendly products is expected to boost the demand for DDDA-based powder coatings.
Furthermore, the market is witnessing an emerging trend of using nylon for high-performance thermoplastics due to its exceptional heating capabilities. The increasing demand for bio adhesives is predicted to further propel the market's growth, particularly for bio-based DDDA, in the coming years.
Germany's inclination towards adopting eco-friendly bio-based DDDA powder coatings in the automobile industry is set to have a positive impact on the market, supported by the rising demand for nylon-based fabrics in the region, making it a promising market driver.
Dodecanedioic Acid Market Report Highlights
Strong Growth in Asia Pacific: Asia Pacific emerged as the leading market for dodecanedioic acid (DDDA) in the past years and is expected to continue its dominance, growing at a robust CAGR of 5.2% over the forecast period. The region benefits from a strong manufacturing base for nylon in countries like Japan, India, and China, driving the demand for DDDA.
Emerging Automotive Hub in Mexico: The automotive manufacturing hub in Mexico, coupled with growing domestic consumption in North America, especially in the U.S., is anticipated to drive the dodecanedioic acid market in the region in the forthcoming years. The demand for nylon, particularly in the automotive domain, is increasing due to innovations like flexibility, heat stability, and high scratch resistance.
Resin Application Segment on the Rise: The resin application segment, accounting for 63.6% of the market in 2022, is expected to witness further growth in the future. This growth is primarily driven by the increasing demand for nylon in countries such as China, the U.S., and India. The automotive sector, in particular, is experiencing rising demand for nylon due to its beneficial properties, including flexibility and heat resistance.
Growing Demand for Powder Coatings: The powder coating sector is projected to grow at a CAGR of 5.5% by 2030, fueled by the growing focus on preventive coatings in developing economies of Asia Pacific, such as China and India. The adoption of preventive coatings is gaining momentum, creating significant opportunities for the dodecanedioic acid market.
Opportunities in Renewable Feedstock: North America and Europe present opportunities for the players in the dodecanedioic acid market with the utilization of renewable feedstock. The economic nature of renewable feedstock is appealing to manufacturers, and its use in the production of high-performance thermoplastics, leveraging nylon's heating abilities, is a trending application in the market.
Company Profiles: Business Overview, Financial Performance, Type Benchmarking)
- Verdezyne
- Invista
- BASF SE
- UBE Industries
- Zibo Guangdong Chemical Co., Ltd.
- Evonik Industries
- Cathay Industrial Biotech
- Santa Cruz Biotechnology
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Dodecanedioic Acid Market: Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Adhesives Market Outlook
3.2 Industry Value Chain Analysis
3.3 Price Trend Analysis, 2018 - 2030
3.4 Regulatory Framework, By Regions
3.5 Market Dynamics
3.6 Business Environment Analysis
Chapter 4 Dodecanedioic Acid Market: Supplier Portfolio Analysis
4.1 List of Key Raw Material Suppliers
4.2 Raw Material Trends
4.3 Portfolio Analysis/Kraljic Matrix
4.4 Engagement Model
4.5 Negotiation Strategies
4.6 Sourcing Best Practices
Chapter 5 Dodecanedioic Acid Market: Application Estimates & Trend Analysis
5.1 Application movement analysis & market share, 2022 & 2030
5.1.1 Resins
5.1.2 Powder Coatings
5.1.3 Adhesives
5.1.4 Lubricants
Chapter 6 Dodecanedioic Acid Market: Regional Estimates & Trend Analysis
6.1 Dodecanedioic Acid Market: Regional Outlook
Chapter 7 Competitive Landscape
7.1 Recent Development & Impact Analysis, By Key Market Participants
7.2 Company Categorization
7.3 Company Market Share Analysis, 2022
7.4 Company Heat Map Analysis
7.5 Strategy Mapping
For more information about this report visit https://www.researchandmarkets.com/r/xeucgu
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