Dodecanedioic Acid Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

Covid-19 Impact Analysis 

• The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the dodecanedioic acid in 2020.
• The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
• The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
• Since the pandemic, the restriction of imports and exports has affected the dodecanedioic acid market to a great extent as the consumers’ consumption and demand patterns are changing amidst pandemic. 

Top Impacting Factors

The DDDA market is expected to grow due to increasing demand in the manufacture of nylon 612, powder coatings, adhesives, and paints. Nylon 612 is used across a wide range of applications including coatings, polyesters, greases, detergents, fragrances, and adhesives. Nylon 612 is also used in the production of heat resistant thermoplastics due to its heat resistant properties. Rising demand for zero volatile organic compounds paints has further augmented the global dodecanedioic acid industry. Resin was the largest application segment, accounting for about two-thirds of the market in terms of volume in the past year. Environmental concerns related with the production of dodecanedioic acid could act as a restraint of the market.

Development of bio-based DDDA is expected to nullify the perceived restraint. Bio-based DDDA is also expected to replace approximately 30% of the petrochemical product industry in the next few years. Powder coatings is expected to be the fastest growing application segment of the market during the forecast period.

Market trends

• Growing industrial activities in Asia Pacific, Europe and North America is expected to bolster demand for DDDA during the forecast period.
• Asia Pacific was the largest market for dodecanedioic acid, accounting for over one-third share of the global market in terms of volume in the past few years. China is one of the largest producers and consumers of DDDA, accounting for over a quarter of the global market in terms of volume. Presence of several end-user industries of DDDA in the U.S. is expected to stabilize market growth in the region. Growth of nylon production in Germany, France, and Italy is anticipated to affect the growth of the DDDA market in Europe in the next few years.
• Growth of resins market has indirectly resulted in the growth of the market.
• The resin application segment experienced a growth in 2018 and is expected to grow further in future due to surging demand for nylon in China, the U.S., and India. This is driven by favorable properties such as flexibility, heat stability, and high scratch resistance, preferred in the in automotive domain.
• Increase in coating activities will lead to increase in market growth.
• Due to increasing powder coating manufacturing in countries like Germany, Europe is anticipated to develop considerably in the course of the forecast era. In addition, players view product trends as an important market opportunity. Growing demand for bio-adhesives is forecast to give bio-decanedioic acid a profitable opportunity in the future.