Press release
Forecast on Dodecanedioic Acid Market for the Period (2014 - 2020)
The market for dodecanedioic acid was mainly driven by polyamides market. Dodecanedioic acid is majorly used in manufacturing of polyamide 6,12. Polyamide 6,12 is majorly used in manufacturing nylon products. DDDA is also used in polyester coatings, diester synthetic lubricants and fibers among others. Dodecanedioic acid is used in flame retardants, fertilizers, flavors and fragrances, cleaning agents and dyestuffs among others. Investing in biodegradable DDDA has been the major opportunity for the dodecanedioic acid market. The manufactures are focusing on bio-based DDCA in near future. Verdezyne Inc., a U.S. based company is planning to open new DDDA plant in Malaysia. The plant will utilize lauric acid as chemical feedstock in order to manufacture DDDA. The project emphasizes on bio-based DDDA manufacturing. However, environmental issues can act as a major restraint for the dodecanedioic acid market in upcoming years.
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In terms of demand, Asia Pacific was the leading region in dodecanedioic acid market. Growing demand of dodecanedioic acid for nylon 6,12 market has been the major driver for the growth in the market. India and China are the major consumers for the DDDA market. The demand for polyamides and paints products is more in this region helping the DDDA market to grow in this region. Asia Pacific was followed by Europe where the demand for dodecanedioic acid is anticipated to grow in upcoming years owing to huge nylon, adhesives and plasticizers market. The demand for DDDA is more from European countries such as Germany, the UK and Italy.
North America is expected to be growing market for dodecanedioic acid in near future. The demand is likely to grow from textile and industrial end-user applications. There is huge demand for polyamides in this market. The U.S. and Canada are the major consumers in the North America region. The Rest of the World market is expected to show steady growth for dodecanedioic acid market in upcoming years. The Middle East, North Africa and Latin America are anticipated to exhibit higher demand for DDDA in upcoming years due to increasing demand for nylon products from various end-user applications.
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Some of the key manufacturers in the dodecanedioic acid (DDDA) market are Beyo Chemcial Co. Ltd., Cathay Industrial Biotech Ltd., Evonik Industries AG, Invista, Sinopec Qingjiang Petrochemical Co., Ltd. US Biotech Company, Verdezyne, Inc. and Zibo Guangtong Chemical Co.,Ltd. among others.
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