March 14, 2023 06:30 ET | Source: Transparency Market Research Transparency Market Research

Albany, New York, UNITED STATES

Wilmington, Delaware, United States, March 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global dodecanedioic acid market is likely to register a CAGR of 7.2% between 2021 and 2031. Dodecanedioic acid, or DDDA, is utilized in the manufacture of various resins such as aromatic hydrocarbon resins, epoxy resins, specialty resins, lattices, unsaturated polyester resins, epoxy resins, acrylates, phenolic resins, and other specialty intermediates. These resins are further used in different industries serving diverse purposes. Rise in need for synthetic production of dodecanedioic acid in different applications, such as engineering plastics and nylon, is projected to aid in market expansion.

Dodecanedioic acid can also be produced by a chemical process called cyclotrimerization, with the use of butadiene. In this process, butadiene can be changed into cyclododecatriene via the cyclotrimerization process and subsequently converted into dodecanedioic acid.

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Presently, the process of producing dodecanedioic acid with the help of yeast is gaining significant popularity among chemical industries. Thus, increase in demand for biotech production of dodecanedioic acid is projected to create new business opportunities for the market during the forecast period.

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Prominent players operating in the global dodecanedioic acid market include Shijiazhuang Dongao Chemical Technology Co.Ltd., Zibo Guangtong Chemical Co.Ltd., Palmary Chemical, Toronto Research Chemicals, ZHEJIANG BOADGE Chemcial Co.Ltd., Shijiazhuang Yihe-Chem Co.Ltd., Tokyo Chemical Industry Co.Ltd., Evergreensino Chemical Co.Ltd., Shandong Guangtong New Materials Co.Ltd., Cathay Biotech Inc., UBE Industries Ltd., Haihang Industry, Santa Cruz Biotechnology Inc., and Evonik Industries AG.

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