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Dodecanedioic Acid Market to grow substantially by 2023, surging demand from construction industry sector

Author : Rahul Sankrityayan | Published Date : 2019-04-04 

The research report scrutinizes the global Dodecanedioic Acid industry from 360 degree perception, taking manifold facets into consideration including segmentation, key developments, market overview, market growth and dynamics, market trends and future outlook, market opportunities, potential investment segment, competitive landscape etc.

Increasing product demand in high-performance nylon production is considered to be the major factor propelling the global DDDA market size by 2023. The global nylon production stood at approximately four million tons and is projected to reach six million tons by 2023. Nylon 6, 12 demand has been witnessing growth owing to the expanding paints and coatings industry will boost industry growth over the estimated period.

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This specialty nylon is extensively used in thermoplastic manufacturing, which finds a broad application range in polyesters, fragrances, adhesives, grease, and detergents. The above-mentioned products have a massive demand from major application areas and will subsequently drive the industry.

Growing infrastructure spending is likely to propel the global DDDA market size over the projected timeframe. Escalating construction business will significantly increase the demand for paint & coating applications. It offers the required solubility characteristics with acetone, benzene, and water, which makes it desirable for paints & coatings.

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Booming automotive sector due to the increasing spending dynamics will positively influence the global industry revenue. Automotive essentially require paints & coatings to protect the vehicle part against corrosion along with improving the physical appearance. The overall automotive production was close to 90 million units and is projected to upsurge over the estimated period owing to the boost the DDDA market size by 2023.

DDDA market size is strictly regulated and directed by environmental norms regarding VOC emissions. Additionally, adipic acid and sebacic acid are being widely accepted for nylon production. The aforementioned trends may obstruct the industry share by 2033. However, increasing R&D investments toward bio-based products will present high growth avenues for the industry players.

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The overall DDDA market share for powder coatings shall witness the maximum gains at over 6% CAGR by 2023. Cumulating demand for paints and coatings across the automotive and construction industry will positively impact demand. The product usage in paint & coatings offers higher corrosion resistance, resistance & protection against chemicals, and superior finish.

Product branding, geographic expansion, market penetration, and strategic alliances are some of the key strategies adopted by the industry participants to expand their business over the coming years. Major industry players include The Cathay, Invista Company, Verdezyne Incorporation, UBE, BASF SE, Evonik Industries, Santa Cruz Biotechnology Company, and Zibo Guangtong Chemical Company Limited.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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