April 22, 2024

Dodecanedioic Acid Market Poised To Propelled By Surging Demand For Nylon-66 And Polyurethanes

Dodecanedioic acid, also known as DDDA, is an organic compound widely used in the manufacturing of nylon-66 and polyurethanes. DDDA acts as an intermediate in the production of these materials and imparts strength, flexibility and durability. Nylon-66 features hydrolytic stability and resistance to oil, grease, solvents and abrasion. Similarly, polyurethanes offer cushioning and insulation properties. With the growing usage of nylon-66 in textiles, automotive parts and industrial filaments and polyurethanes in mattresses, adhesives and coatings, the demand for DDDA is rising substantially.

The global Dodecanedioic Acid Market is estimated to be valued at US$ 720.37 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Surging demand from thetextile industry has been a key growth driver for the global DDDA market. Nylon-66 derived from DDDA is extensively used in the production of fabrics, carpet fibers and synthetic apparel due to its excellent properties. It is a highly durable and resilient material that retains its shape and is resistant to damage from saltwater, chlorine and detergents. Thus, the rising apparel consumption worldwide accompanied by the shift towards synthetic fabrics have augmented the uptake of nylon-66 and subsequently DDDA over the years. Expanding textile industry in developing economies is anticipated to further support the market growth over the forecast period.

SWOT Analysis
Strength: Dodecanedioic acid has wide range of applications in nylon and other polyesters. It can be used to produce durable and high-performance polymers.
Weakness: Presence of substitutes like sebacic acid limits the growth of dodecanedioic acid market. Production of dodecanedioic acid involves complex chemical reactions which increases the cost.
Opportunity: Growing demand for lightweight and high-performance materials from end-use industries like automotive and aerospace provides growth opportunities. Development of cost-effective production technologies can boost the market.
Threats: Stringent environmental regulations regarding emissions from production plants pose threats. Volatility in raw material prices affect the overall production cost.

Key Takeaways

The global dodecanedioic acid market demand is expected to witness high growth. The market size valued at US$ 720.37 Mn in 2024 and is projected to reach around US$ 1,348.55 Mn by 2031, exhibiting a CAGR of 8.9% during the forecast period.

Regional analysis

Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. Countries like China, India, Indonesia, and Malaysia are the major consumers in the region. Growing automotive and aerospace industries drive the market growth in the Asia Pacific region.

Key players

Key players operating in the dodecanedioic acid market are The Coconut Company (UK) Ltd., Tirumala Food Industries, Enature Organic Products, Ayam Sarl, Nestlé S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd. The key players are focusing on expanding their production capacities to meet the growing demand for dodecanedioic acid.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it