Octadecanedioic Acid Market Size

Octadecanedioic Acid Market size was valued at around USD 8.4 million in 2023 and is anticipated to grow at a CAGR of 4.6% between 2024 and 2032. The use of octadecanedioic acid as a monomer or building block in the production of high-performance polymers, resins, and polyesters. Octadecanedioic acid imparts desirable properties such as high melting points, excellent thermal stability, and resistance to chemicals.

The application of octadecanedioic acid as a softening and lubricating agent in textile processing. Octadecanedioic acid can improve the feel and texture of fabrics and enhance their anti-static properties.

One of the challenges is the limited awareness and understanding of ODDA's potential applications. ODDA production can involve complex synthesis processes, potentially leading to higher production costs compared to other alternatives. ODDA is typically derived from natural sources, and its availability might be affected by factors such as crop yield variations or changes in agricultural practices. Thus, the risks associated with octadecanedioic acid may drive down the acceptance rate, further hampering the business growth.

COVID-19 Impact

The economic slowdown caused by the pandemic led to reduced industrial activity and demand for various products that utilize ODDA. Industries such as textiles, automotive, and cosmetics, which use ODDA, experienced reduced consumer spending and production cutbacks. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business expansion in the upcoming years.

Octadecanedioic Acid Market Trends

There's a growing trend towards using sustainable and renewable feedstocks for chemical production. ODDA derived from plant-based sources aligns with this trend, as it offers a more environmentally friendly alternative to petrochemical-derived materials. There's a growing trend towards using sustainable and renewable feedstocks for chemical production. ODDA derived from plant-based sources aligns with this trend, as it offers a more environmentally friendly alternative to petrochemical-derived materials.

Octadecanedioic Acid Market Analysis

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Based on application, the octadecanedioic acid market is segmented as Polyester Polyols, Lubricants and Greases, Powder Coatings, Personal Care Products, Others. Polyester Polyols held a majority market value of USD 4.9 million in 2022. The use of ODDA as a building block for high-performance polymers, resins, and polyesters. ODDA's ability to enhance thermal stability, mechanical properties, and chemical resistance in polymer formulations.

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Based on end-use, the octadecanedioic acid market is segmented as Automotive, Construction, Textiles, Cosmetics, Others. Automotive held a dominant market share of around 35% in 2022 and is expected to grow at a lucrative pace till 2032. The integration of ODDA into advanced materials for automotive parts and aerospace components.

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U.S. dominated the North American region with majority octadecanedioic acid market share and a revenue of USD 2.8 million in 2022 and is anticipated to expand at a significant pace from 2023-2032. ODDA enhances the properties of polymers, making them suitable for applications in automotive, aerospace, and other industries.

Octadecanedioic Acid Market Share

Some of the major industry players operating in the Octadecanedioic acid market are ;

• Invista
• BASF SE
• Dupont de Nemours, Inc.
• Solvay S.A.
• Croda International Plc
• Evonik Industries AG
• Lianyungang Ningkang Chem Co., Ltd.
• Hangzhou Dayangchem Co. Ltd.
• Haihang Industry Co., Ltd.
• VWR International LLC
• Tokyo Chemical Industry Co., Ltd. (TCI)
• Santa Cruz Biotechnology, Inc
• Haihang Industry Co., Ltd.
• Sigma-Aldrich Corporation (Now part of MilliporeSigma)
• J&K Scientific Ltd.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Octadecanedioic Acid Industry News:

• In March 22, 2023 BASF declared that due to an unexpected equipment failure in the MDI unit at its North American plant in Geismar, the procedure of the plant was artificial.
  
• In May 2022, Croda, the company that uses smart science to recover lives, announces that it has been presented winner a prestigious award for its work in subsidiary vaccine development.
  

Octadecanedioic acid market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Kilo Tons from 2018 to 2032, for the following segments:

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By Application

• Polyester Polyols
• Lubricants and Greases
• Powder Coatings
• Personal Care Products
• Others

By End-use

• Automotive
• Construction
• Textiles
• Cosmetics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt