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The dodecanedioic acid market share is expected to increase by USD 144.66 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.45%.
This dodecanedioic acid market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers dodecanedioic acid market segmentations by application (resins, powder coatings, adhesives, lubricants, and others) and geography (APAC, Europe, North America, South America, and MEA). The dodecanedioic acid market report also offers information on several market vendors, including BASF SE, BEYO Chemical Co. Ltd., Cathay Biotech Inc., ChemCeed LLC, Evonik Industries AG, Haihang Industry Co. Ltd., Santa Cruz Biotechnology Inc., Serena Chemicals, Shandong Guangtong New Material Co. Ltd., and Ube Industries Ltd. among others.
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The increased demand for nylon-based products is notably driving the dodecanedioic acid market growth, although factors such as stringent regulatory environment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the dodecanedioic acid industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Dodecanedioic Acid Market Driver
The increased demand for nylon-based products is a major factor driving the global dodecanedioic acid market share growth. Dodecanedioic acid is used extensively in the production of polyamides, one of the most important raw materials required for manufacturing nylon-based products. The increased demand for nylon products in APAC, especially in India and China, is one of the key factors for the growth of the dodecanedioic acid market. The sudden growth of the construction and automotive industries and the increased demand for paints and coatings will enhance the growth of the global dodecanedioic acid market. Nylon is also used to manufacture thermoplastics. The improved performance and high tensile strength of nylon enable its application in the production of fabrics and ropes. Nylon 6,12 is used extensively in the spare parts of automobiles due to its properties such as corrosion and scratch resistance, improved flexibility, and heat stability. Companies engaged in manufacturing polymers and fibers are now focusing on increasing their production capacity to meet the rising demand for nylon products across the globe. Such factors are expected to propel the demand for dodecanedioic acid during the forecast period.
Key Dodecanedioic Acid Market Trend
The increasing focus on bio-based and eco-friendly products is another factor supporting the global dodecanedioic acid market share growth. Consumer preference for environment-friendly and sustainable products is trending in the global specialty chemicals market, thereby impacting the global dodecanedioic acid market. Several research works have found significant commercial uses of bio-based resins and polymers in coatings. In developed regions, the regulations that check and monitor the impact of products on the environment are promoting the growth of the bio-based and eco-friendly paints and coatings market. Increasing demand for bio-based recyclable and renewable coating materials in the US and Europe is driving the market for bio-based products. Also, growing environmental and food and drug regulations are fostering the consumption of bio-based polymer coatings in food packaging, consumer goods, and other products. The stringent government regulations on petroleum-based products are urging many companies to use bio-based resources, as an alternative, in the production of dodecanedioic acid. This trend is expected to positively impact the global dodecanedioic acid market during the forecast period.
Key Dodecanedioic Acid Market Challenge
The stringent regulatory environment will be a major challenge for the global dodecanedioic acid market share growth during the forecast period. The US Environmental Protection Agency (EPA) regulates the production and distribution of dodecanedioic acid products to minimize environmental impacts. Currently, dodecanedioic acid is manufactured using petrochemical sources. The production of dodecanedioic acid using petrochemicals involves the refining of crude oil, which is then followed by the addition of chemical constituents. The raw materials used in the production of dodecanedioic acid include cyclododecane, dodecyl alcohol, 1-3 butadiene, and hydrogen peroxide. This synthetic process results in the emission of VOC, which is harmful to the environment since it contains carbon constituents, such as carbon dioxide, carbon monoxide, and carbonic acid. It acts as a harmful pollutant and depletes natural resources, which will have a harmful impact on human health and animals. The EPA has imposed environmental regulations in order to reduce or avoid the use of petrochemicals in the production of the chemicals that serve as raw materials to manufacture dodecanedioic acid, leading to the decline of the dodecanedioic acid market.
This dodecanedioic acid market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global dodecanedioic acid market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the dodecanedioic acid market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the dodecanedioic acid market encompasses successful business strategies deployed by the key vendors. The dodecanedioic acid market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The dodecanedioic acid market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the dodecanedioic acid market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global specialty chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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41% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for dodecanedioic acid market in APAC. Market growth in this region will be faster than the growth of the market in regions.
The growth of the electronics industry will facilitate the dodecanedioic acid market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The dodecanedioic acid market share growth by the resins segment will be significant during the forecast period. Dodecanedioic acid is majorly used in the production of epoxy resins, molding resins, and polyamide resins. Epoxy resin-based coatings are the most dependable type of commercial and residential floor coatings, which are becoming an important trend. The benefits of epoxy coatings range from efficiency in refining to enhanced technical advantages. They are used in a wide range of coating applications, such as primers, abrasion-resistant coatings, chemical-resistant tank linings, finishes, tie-coats, heavy-duty intermediates, fire-resistant coatings, and heat-resistant coatings.
This report provides an accurate prediction of the contribution of all the segments to the growth of the dodecanedioic acid market size and actionable market insights on post COVID-19 impact on each segment.
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Dodecanedioic Acid Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.45% |
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Market growth 2021-2025 |
$ 144.66 million |
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Market structure |
Concentrated |
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YoY growth (%) |
4.81 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 41% |
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Key consumer countries |
China, US, Germany, Japan, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
BASF SE, BEYO Chemical Co. Ltd., Cathay Biotech Inc., ChemCeed LLC, Evonik Industries AG, Haihang Industry Co. Ltd., Santa Cruz Biotechnology Inc., Serena Chemicals, Shandong Guangtong New Material Co. Ltd., and Ube Industries Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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