Dodecanedioic acid is an organic compound that finds extensive application as a comonomer in nylon and polyesters production. It helps to improve flexibility, transparency and low temperature processability of polymers. Dodecanedioic acid is predominantly used in plasticizers and lubricant production that enhances durability and efficiency of end-use applications.

The global dodecanedioic acid market is estimated to be valued at US$ 720.37 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Surging Demand from Plasticizers Production: Dodecanedioic acid acts as a key intermediate in plasticizers manufacturing. It helps plasticizers to impart flexibility, softness and workability to plastics. Significant growth of plastics industry globally is propelling the demand for plasticizers which in turn is driving the consumption of dodecanedioic acid. According to Oxford Economics, the global plastics market is estimated to reach US$ 715 Bn by 2023 from US$ 582 Bn in 2018 registering a CAGR of 4%.

Rise in Nylon and Polyester Production: Dodecanedioic acid serves as an indispensable monomer in production of various nylon and polyester varieties. It provides versatility, tensile strength and toughness to final polymers. Expanding textiles sector along with growth in automotive and electronics industries is augmenting the demand for nylons and polyesters. This increased consumption of nylons and polyesters is directly influencing the market growth of dodecanedioic acid over the forecast period.

SWOT Analysis

Strength: Dodecanedioic acid has wide applications in industries such as polymers, lubricants and plastics. It is used as a chemical intermediate in plasticizers and nylon resins. Dodecanedioic acid offers better thermal and chemical stability compared to alternatives.

Weakness: The availability of substitutes like sebacic acid and azelaic acid poses a threat to the dodecanedioic acid market. High manufacturing costs involved in the production of dodecanedioic acid make it less competitive.

Opportunity: Growing demand from end use industries such as lubricants, coatings and plastics offer lucrative growth opportunities. Increasing R&D activities to develop bio-based production methods also provide new opportunities.

Threats: Volatility in raw material prices impacts the overall production cost of dodecanedioic acid. Stringent environmental regulations regarding the emissions from manufacturing plants pose challenges.

Key Takeaways

The global dodecanedioic acid market size is expected to witness high growth. The global dodecanedioic acid market is estimated to be valued at US$ 720.37 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

The market in Asia Pacific region is expected to grow at the fastest pace due to growing polymer industry in countries such as China, India and Taiwan. China dominates the global market with largest production facilities located in regions of Shandong and Liaoning.

Key players

operating in the dodecanedioic acid market are The Coconut Company (UK) Ltd., Tirumala Food Industries, Enature Organic Products, Ayam Sarl, Nestlé S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd. These companies are focusing on capacity expansion and backward integration to gain competitive advantage.

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