Dodecanedioic Acid (DDDA) Market Is Projected To Be Around $0.48 Billion By 2022
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A research study titled, “Dodecanedioic Acid (DDDA) Market by Application - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Dodecanedioic Acid (DDDA) Market is projected to be around $0.48 billion by 2022.
The global Dodecanedioic Acid (DDDA) market was worth USD 0.27 billion in the year 2012 and is expected to reach approximately USD 0.48 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 5.17% during the forecast period. Dodecanedioic acid, generally referred to as DDDA, is a dicarboxylic acid essentially utilized as a part of cleaning agents, surfactants, painting materials, erosion inhibitors, top-grade coatings, and designing plastics, for example, nylon 612. Examining work with dodecanedioic acid in type 2 diabetic patients has shown that IV implantation keeps up typical glucose and vitality levels without expanding the blood glucose load frequently. DDDA is commonly produced through two strategies. It has customarily been created from butadiene utilizing a multi-step substance process. Butadiene is first changed over to cyclododecatriene through a cyclotrimerization procedure.
The global Dodecanedioic Acid market has observed significant development due to its vast usage as major raw material in the manufacturing of nylon 6,12 which is used in a variety of applications like fragrances, polyesters, coatings, greases, adhesives and detergents. Growing dodecanedioic acid demand for paints and powder coatings due to its high viability coupled with the development of the end-use sectors is anticipated to drive the market over the estimate time frame. Development in concentration on protective coatings in the past couple of years has brought about critical development of the substance in the current circumstances. Expanding requirement for paints containing zero volatile organic compounds (VOC) has contributed to the growth of the global dodecanedioic acid industry. Furthermore, increasing infiltration of nylon in various applications including gears, fabrics and screws is projected to spur the growth of resins during the forecast period. Developing research and development spending by nylon manufacturers towards product enhancement is anticipated to positively influence the market in the following years.
On the basis of application the Dodecanedioic Acid market is segmented into Adhesives, Resins, Lubricants and Powder Coatings. The major players in the market are Invista, BASF, Cathay Industrial Biotech Ltd, Santa Cruz Biotechnology and Evonik Industries. Geographically, the market is segmented into Europe, North America, Asia Pacific and Rest of the world.
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Key findings of the Dodecanedioic Acid market
- In 2014, Asia Pacific was the biggest market for DDDA representing more than 35% of the worldwide volume share attributable to the nearness of a strong modern base in the district. High potential for industrialization in the locale is relied upon to drive interest for DDDA over the gauge time frame, making it a high development market. Revelation of shale gas in the United States is anticipated to open new doors in lubricant applications in North America in the upcoming years.
- China was the biggest consumer and manufacturer of DDDA attributable to the existence of a strong polymer and paint and coatings fabricating base in the nation. China represented more than 25 percent of the worldwide market volume in 2014 and is relied upon to maintain its large share over the figure time frame.
- Development of key end use sectors like automotive and construction, particularly in countries like India, Brazil and China is anticipated to boost the global adhesives and sealants market over the following years.