The Dodecanedioic Acid Market is estimated to be valued at Us$ 625.32 Mn in 2023 and is expected to exhibit a CAGR Of 7.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Dodecanedioic acid is an organic compound that features two carboxylic acid functional groups. It is a white crystalline solid and is relatively odorless. Dodecanedioic acid finds wide applications in the production of lubricants, polyesters, polyamides, adhesives, and others owing to its high oxidative stability, viscosity properties, and low volatilities.

Market key trends:

The growing applications of dodecanedioic acid in manufacturing polyamides is a major factor driving the market growth. Dodecanedioic acid serves as a fundamental raw material in the production of nylon polymers such as nylon 612 and nylon 4612. These nylons exhibit properties like high tensile strength, abrasion resistance, and superior chemical resistance. They therefore find widespread use in automotive, electronics, and industrial sectors. Additionally, the increasing demand for dodecanedioic acid from the adhesives industry is also fueling the market expansion. Dodecanedioic acid is utilized to manufacture polyamide resins which are employed in hot melt, reactive, and pressure-sensitive adhesives. The booming automotive and construction industries worldwide are augmenting the growth of adhesives market in turn propelling the demand for dodecanedioic acid.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the dodecanedioic acid market is low as it requires high capital investment for R&D, manufacturing plants, and distribution channels. This makes the barrier for entry significantly high.

Bargaining power of buyers: The bargaining power of buyers in the dodecanedioic acid market is moderate. This is due to the presence of substitute products and price differentiation strategies adopted by manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is also moderate as there are many suppliers for raw materials in the market. However, the switching costs are high for manufacturers.
Threat of new substitutes: The threat of substitutes is low as dodecanedioic acid has limited substitutes and is unique in its properties and applications in nylon & plasticizers.

Competitive rivalry: The competitive rivalry is high owing to the presence of numerous global and domestic players.

SWOT Analysis

Strength: Dodecanedioic acid has versatile applications in nylon, lubricants, plasticizer, etc. Growing end-use industries offer huge opportunities.

Weakness: Product availability issues and pricing pressures from substitutes are weaknesses. Supply demand gaps affect overall profitability.

Opportunity: Increasing demand for bio-based products creates opportunities. Also, emerging applications in polyamide resins and thermoplastic elastomers offer growth scope.

Threats: Environmental regulations can increase compliance costs. Intense competition from substitutes is also a threat.

Key Takeaways

The Global Dodecanedioic Acid Market Demand is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand from end-use industries like nylon and plasticizers. The global dodecanedioic acid market size was valued at US$ 625.32 Mn in 2023 and is projected to reach US$ 1,059.78 Mn by 2030.

Regional analysis –

North America dominates the global dodecanedioic acid market and is expected to maintain its lead over the forecast period. This is attributed to the presence of major players and the expanding chemicals industry in the region. Asia Pacific is expected to be the fastest-growing market for dodecanedioic acid between 2023 and 2030 owing to industrial development and growing consumption from developing nations like China and India.

Key players operating in the dodecanedioic acid market are 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.

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