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Octadecanedioic Acid Market Size

Report ID: GMI6736
Published Date: Sep 2023
Report Format: PDF

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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.

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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.

Octadecanedioic Acid Market Report Attributes
Report Attribute	Details
Base Year:	2023
Octadecanedioic Acid Market Size in 2023:	USD 8.4 million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.6%
2032 Value Projection:	USD 12.5 million
Historical Data for:	2018 to 2023
No. of Pages:	150
Tables, Charts & Figures:	137
Segments covered:	Polyester Polyols, Lubricants and Greases, Powder Coatings, Personal Care
Growth Drivers:	Growing automotive industry Growing construction industry Growing textile industry
Pitfalls & Challenges:	Limited Awareness Cost Considerations Availability of Raw Materials

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for octadecanedioic acid was USD 8.4 million in 2023 and will reach USD 12.5 million by 2024 due to its widespread usage as monomer or building block in the production of high-performance polymers, resins, and polyesters worldwide.

Octadecanedioic acid industry from the polyester polyols application segment recorded USD 4.9 million in 2022 due to the dire need to enhance thermal stability, mechanical properties, and chemical resistance in polymer formulations.

U.S. industry size for octadecanedioic acid registered USD 2.8 million in 2022 and will incur a significant CAGR from 2023-2032 owing to the higher application in the automotive, aerospace, and other industries of the region.

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., and VWR International LLC are some of the major octadecanedioic acid companies worldwide.