Press release
Dodecanedioic (DDDA) Acid Market Size is estimated to be worth USD 534.7 Million by 2025 | Key Players like Invista, Verdezyne, BASF SE, UBE Industries, Zibo Guangtong Chemical Co., Ltd.
Dodecanedioic (DDDA) Acid Market
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The global dodecanedioic (DDDA) acid market size is estimated to be worth USD 534.7 million by 2025. The global dodecanedioic (DDDA) acid market is expected show slow-paced growth for next few years. However, the market is expected to regain its momentum after 2021.
Dodecanedioic acid is derived from petrochemical sources such as natural gas and crude oil. However, due to the limited availability of these resources, bio-based alternatives such as vegetable crude oils is being adopted by the major manufacturers. For instance, in 2017, Verdezyne, a California-based manufacturer, had begun construction of dodecanedioic acid (DDDA) plant that would produce the acid using bio-based products.
The global dodecanedioic acid (DDDA) market size is projected to be fueled by increasing demand from the end-use sectors. DDDA is used in the production of several materials and chemicals that are increasingly used in industrial applications, automotive, and construction to name a few. The major demand for dodecanedioic acid comes from the production of polyamide nylon 6,12. Nylon 6,12 has a wide range of usage in the automotive industry where it is used to produce lightweight components. It also finds vast applications in electronics and packaging. Dodecanedioic acid (DDDA) is used to produce a large number of polyurethane, polyester and polyamide resins. Dodecanedioic acid (DDDA) is also used to produce powder coatings, adhesives, plasticizers, capacitor electrolytes, fiber, epoxy resins, and fragrance among several others. Increasing usage across the application segments is projected to increase the demand for global dodecanedioic acid (DDDA) market size.
Browse Detailed TOC and Companies Mentioned in Dodecanedioic (DDDA) Acid Market Research Report: https://www.adroitmarketresearch.com/industry-reports/dodecanedioic-acid-ddda-market
Although growing demand in the end use sector is projected to propel the demand for global dodecanedioic acid (DDDA) market, the present supply-demand scenario is projected to negatively impact the market growth. The supply crisis, which started in 2017 across the globe, has led to a severe shortage of demand. However, demand from end-use industries is constantly increasing owing to which prices are increasing. This trend is likely to persist till 2021, after which the global dodecanedioic acid (DDDA) market is projected to retain its growth.
The demand for the global dodecanedioic acid market is expected to be led by Asia Pacific region over the forecast period. China is among the major producer as well as the consumer in the dodecanedioic acid (DDDA) market. Positive growth trends among the key end users of DDDA is projected to propel the global dodecanedioic acid (DDDA) market size over the forecast period. Some of the key players in the global dodecanedioic acid (DDDA) market are Invista, Verdezyne, BASF SE, UBE Industries, Zibo Guangtong Chemical Co., Ltd.
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Key segments of the global dodecanedioic acid (DDDA) market
Application Overview, 2015-2025 (USD Million) (Kilo Tons)
• Resins
• Powder coatings
• Adhesives
• Lubricants
• Others
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
• North America
• U.S.
• Rest of North America
• Europe
• Germany
• UK
• Rest of Europe
• Asia Pacific
• China
• India
• Rest of Asia Pacific
• Latin America
• Middle East & Africa
About Adroit Market Research
Adroit Market Research provide quantified B2B research on numerous opportunistic markets, and offer customized research reports, consulting services, and syndicate research reports. We assist our clients to strategize business decisions and attain sustainable growth in their respective domain. Additionally, we support them with their revenue planning, marketing strategies, and assist them to make decisions before the competition so that they remain ahead of the curve.
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