Dodecanedioic Acid Market Size

Dodecanedioic Acid Market size was over USD 637.66 Million in 2023 and is anticipated to cross USD 1.37 Billion by the end of 2036, growing at more than 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of dodecanedioic acid is estimated at USD 672.67 Million. The growth of the market can be attributed to the boom in the manufacturing industry, owing to its great usage in varied processes. In the latest reports, the manufacturing industry in the United States was expected to be worth approximately USD 6 trillion in 2022. Rising urbanization across the world along with a growing number of industries owing to modernization is estimated to increase the growth of the manufacturing sector. The manufacturing sector includes the production of various goods and services. The rising disposable income of people spend on buying these manufactured goods is anticipated to drive the growth of dodecanedioic acid in the coming years. Dodecanedioic acid is used in many manufacturing industries including paints, coatings, adhesives, lubricants, and nylon manufacturing.  

Dodecanedioic acid is being highly utilized in the manufacturing of cosmetics, lubricants, fragrances, toothbrushes, and pharmaceuticals among others, and growing demand for manufacturing resin is anticipated to influence the market in a positive way. Thus, the increase in the number of manufacturing businesses across the world is expected to bring lucrative opportunities for the key players in the global dodecanedioic acid market in the assessment period. In 2022, it was projected that the number of businesses in the manufacturing industry of the United States counted to be 638,590 in total. The pharmaceutical industry is rising industry across the world owing to the increasing incidence of diseases and the occurrence of COVID-19 in 2019. The internet penetration and awareness of early diagnosis made people more concerned about their health. All these factors influence the growth of the pharmaceutical sector and in turn the use of dodecanedioic acid market growth during the forecast period.