Dodecanedioic acid market

Dodecanedioic acid (DDDA) is an alpha, omega-dicarboxylic acid that is dodecane in which the methyl groups have been oxidised to the corresponding carboxylic acids. DDDA is a C12 dibasic acid/dicarboxylic acid. It is a white solid with a flaky form in terms of physical appearance. At room temperature, the compound has a melting point of 128° C and is insoluble in water. However, solubility rapidly increases with higher temperatures. Dodecanedioic acid has a long shelf life of around three years, depending upon the storage method. DDDA is a dicarboxylic acid mainly used in antiseptics, top-grade coatings, painting materials, corrosion inhibitors, surfactants, and engineering plastics such as nylon 6/12.

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

Drivers

Increase in usage of dodecanedioic acid in nylon materials, coupled with rising automotive industry.  The most common types of resins are nylon 6, nylon 6/6, and nylon 6/12, which are manufactured using dodecanedioic acid. Moreover, dodecanedioic acid is used in the production of engineering plastics such as polyamide resins; a high-performance nylon 6-12. It is reacted with hexamethylenediamine to make nylon 6/12 used in automotive parts. Furthermore, dodecanedioic acid is used in fuel and brake lines, adhesives, pulp & paper, chemical and industrial facilities, and surfactants. Dodecanedioic acid is majorly used in hydraulic liquids in automotive suspension, lubricants in motor oil, and break fluids. Rise in demand for dodecanedioic acid in manufacturing nylon materials, engineering plastic, and other applications is driving the global dodecanedioic acid market growth.

Among region, Asia Pacific held dominant position in the global dodecanedioic acid market in 2021, accounting for 32.9% market share, in terms of revenue, followed by North America and Europe. Due to rising consumption of the daily need products such as cosmetics in economies such as China, India, Malaysia, and Japan, which uses dodecanedioic acid in its production increases the demand in the region. Asia Pacific is expected to be the world's largest and fastest-growing region. Furthermore, supportive regulations by the government to attract more investments are expected to have a positive impact on the market. China has the world's largest plastics industry, accounting for approximately 30% of the global production. Biodegradable materials are increasingly used by Chinese plastic manufacturers. This is projected to assist China in maintaining its global position in plastics production, and in turn increase the demand for dodecanedioic acid. Moreover, Asia Pacific is the world's largest manufacturer and consumer of paints and coatings, with China, Japan, and India accounting for a significant portion of the overall share. Positive growth indicator of the regional construction and automotive industry is the key factor contributing to the market growth.

Figure 1. Global Dodecanedioic Acid Market Revenue Share (%), By Region, 2021

Market Restraints

Harmful effects of dodecanedioic acid include irritation to eyes, respiratory system damage, and skin irritation. DDDA can cause skin inflammation in certain people when they come into contact with the chemical. Skin contact is not thought to have harmful health effects, however, the chemical may lead to health damage following entry through wounds, lesions or abrasions. People with impaired respiratory function, airway diseases, and conditions such as emphysema or chronic bronchitis may incur further disability, if excessive concentrations of the chemical is inhaled. Thus, hazardous effects of dodecanedioic acid on humans are expected to hamper the global dodecanedioic acid market growth over the forecast period.

Market Trends

Dodecanedioic acid is used in the manufacturing of polyesters. These polyesters have various applications including manufacturing of toothbrushes, cosmetics, fragrances, fuel line tubing, and others. Additionally, the use of the dodecanedioic acid in the manufacturing of antiseptics and other pharmaceutical products among others, is expected to drive the global dodecanedioic acid market growth. Therefore, surging number of cosmetic and pharmaceutical industries propels the global dodecanedioic acid market growth. Moreover, according to data published by the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), a trade association, in 2021, the research-based biopharmaceutical industry is estimated to have spent US$ 179 billion globally on biopharmaceutical R&D in 2018.

Figure 2. Global Dodecanedioic Acid Market Revenue Share (%), By Application, 2021

On the basis of application, in 2021, resins segment held largest revenue share of 63.5% in global dodecanedioic acid market. Due to rising uses in the adhesives, automotive, and construction industries, resins is expected to be the most dominant segment. Dodecanedioic acid (DDDA) is used to manufacture different types of resins such as epoxy resins, aromatic hydrocarbon resins, phenolic resins, acrylates, lattices, unsaturated polyester resins, specialty resins, and other specialty intermediates. These resins are used in a variety of industrial applications. The demand for plastic resins has increased, mainly due to the rising demand for performance plastics from the transportation and construction industry.

Global Dodecanedioic Acid Market - Impact of Coronavirus (Covid-19) Pandemic

Dodecanedioic acid are commonly used in industrial applications such as automotive, coatings, painting materials, nylon, and pharmaceutical products. All these sectors were negatively impacted in 2020, owing to lockdown in most countries since the pandemic blocked the dodecanedioic acid supply chain and caused implications for companies across a wide variety of industries. In 2020, the COVID-19 pandemic resulted in a collapse of global economic activity, with an estimated 3.5% contraction. According to data published by the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), a trade association, in 2021, the impact on the economy was reflected also on the job market, with an estimated 114 million full time equivalent jobs lost in 2020 globally. Aggressive and swift monetary, fiscal, and financial sector policies have helped prevent worse outcomes.

Competitive Section

Key players operating in the global dodecanedioic acid market include 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.

Detailed Segmentation:

• Global Dodecanedioic Acid Market, By Application:
  • Resins
  • Powder Coatings
  • Adhesives
  • Lubricants
  • Others (Pharmaceutical, Fragrance, etc.)
• Global Dodecanedioic Acid Market, By Region:
  • North America
    • By Application:
      • Resins
      • Powder Coatings
      • Adhesives
      • Lubricants
      • Others (Pharmaceutical, Fragrance, etc.)
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Application:
      • Resins
      • Powder Coatings
      • Adhesives
      • Lubricants
      • Others (Pharmaceutical, Fragrance, etc.)
    • By Country:
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
  • Europe
    • By Application:
      • Resins
      • Powder Coatings
      • Adhesives
      • Lubricants
      • Others (Pharmaceutical, Fragrance, etc.)
    • By Country:
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest Of Europe
  • Asia Pacific
    • By Application:
      • Resins
      • Powder Coatings
      • Adhesives
      • Lubricants
      • Others (Pharmaceutical, Fragrance, etc.)
    • By Country:
      • China
      • India
      • Japan
      • South Korea
      • ASEAN
      • Australia
      • Rest of Asia Pacific
  • Middle East
    • By Application:
      • Resins
      • Powder Coatings
      • Adhesives
      • Lubricants
      • Others (Pharmaceutical, Fragrance, etc.)
    • By Country/Region:
      • GCC
      • Rest of Middle East
  • Africa
    • By Application:
      • Resins
      • Powder Coatings
      • Adhesives
      • Lubricants
      • Others (Pharmaceutical, Fragrance, etc.)
    • By Country/Region:
      • Northern Africa
      • Central Africa
      • South Africa