Global Dodecanedioic Acid (DDDA)
Market is expected to reach USD 443.3 million by 2022, according to a new
study by Grand View Research, Inc. Increasing demand for nylon 6,12 from
various end-use industries including polymers, detergents and coatings is
expected to drive DDDA market growth over the forecast period. In addition,
increasing paints & coatings production is likely to fuel DDDA demand.
Development of new coating technologies for the industrial paints has
contributed to the growth of DDDA on account of its ability to resist corrosion
and provide durable flexible coatings.
Penetration
of DDDA in resin applications was highest in 2014, as it is used as a key raw
material for manufacturing nylon. Increasing consumption of nylon 6,12 in
automotive, electrics & electronics and construction is likely to drive
DDDA market production. Growth of these end-use industries is anticipated to
subsequently impact market growth in resin applications over the forecast
period.
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Further key findings from the study suggest:
- Asia Pacific was the largest market for DDDA accounting for over 35% of the global volume share in 2014 owing to the presence of a robust industrial base in the region. High potential for industrialization in the region is expected to drive demand for DDDA over the forecast period, making it a high growth market. Discovery of shale gas in the U.S. is expected to open new opportunities in lubricant applicatios in North America in the near future.
- China was the largest producer and consumer of DDDA owing to the presence of a robust polymer and paint & coatings manufacturing base in the country. China accounted for over 25% of the global market volume in 2014 and is expected to maintain its lion’s share over the forecast period.
- Global DDDA demand in adhesives was 3.3 kilo tons in 2014 and is expected to grow at a CAGR of over 5% from 2015 to 2022. Rising importance of high performance adhesives in industrial applications has resulted in growing demand for adhesives. Growth of major end use industries such as construction and automotive, mainly in countries such as China, India and Brazil is expected to drive the global adhesives and sealants market over the next six years.
- Key players present in the global lignin market include Ube, Cathay Industrial Biotech, Verdezyne Inc., Evonik Industries AG, Invista and Santa Cruz Biotechnology Inc. the global industry is characterized by integration by numerous companies across various stages of the value chain. Verdezyne has established a bio-based DDDA plant in Malaysia and as per the company’s outlook, their plant can replace 30% of the global synthetic market.
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Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
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Grand View Research, Inc
Phone: 1-415-349-0058
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Email:
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