Dodecanedioic Acid Market Trends

Growth Drivers

Rapid Urbanization and Industrialization Around the World – Rapid urbanization and industrialization have propelled high demand for adhesives, lubricants, and heat-resistant thermoplastics. This increased demand is expected to speed up the growth rate of the global dodecanedioic acid market. The statistics given by the World Bank state that 57% of the total population has been categorized as urban population, equivalent to approx. 4.5 million people. Further, this number is projected to get doubled with 7 out of 10 people in the world living in urban settlements.

Growth of the Automotive Sector with an Increasing Number of Vehicles – The favorable properties such as heat stability, flexibility, and scratch resistance are pushing the adoption rate of dodecanedioic acid in the automotive industry. Thus, the boom in the automotive industry is anticipated to expand the dodecanedioic acid market size in the forecast period. India’s automotive industry is expected to garner 200 billion dollars by 2031, making it the 3rd largest automotive industry in the world.
Boom in Chemical Industry Owing to Increasing Use in Various Manufacturing Sectors – The emerging technologies in India is expected to propel the Indian chemical industry to grow by a CAGR of 10% with a revenue of USD 300 billion by 2025.
Growth in Research and Development Expenditure to Improve the Economic Status – Recently, World Bank calculated the global research and development expenditure was expected to be 2.63% of the total Gross Domestic Product (GDP) in 2020. This was a considerable increase from 2.2% in 2018.

Challenges

Toxic in Nature and Harmful for Human Population – While producing dodecanedioic acid, a lot of harmful chemicals are being used owing to which the nature of dodecanedioic acid is turned toxic. The toxic nature is highly harmful to the environment as well as to humans which is expected to pose a challenge to market growth.

Strict Government Regulations
Rising Awareness about Environmental Protection

Dodecanedioic Acid Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	6.1%
Base Year Market Size (2023)	USD 637.66 Million
Forecast Year Market Size (2036)	USD 1.37 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of dodecanedioic acid is estimated at USD 672.67 Million.

The 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. The expansion of the manufacturing industry along with the high utilization of dodecanedioic acid in other end-use industries are some of the factors that are major factors driving the market growth.

Asia Pacific is poised to account for largest industry share by 2036, owing to rising support from the governments in the region to expand the chemical industry.

Evonik Industries AG, Koch Industries, Inc., Santa Cruz Biotechnology, Inc., UBE Corporation, Zibo Guangcheng Chemical Co., Ltd, Merck Group, Chemceed, BASF, The Dow Chemical Company

Dodecanedioic Acid Market Trends