Global Octadecanedioic Acid Market Size By Industry Type (Medical, Construction, Cosmetics), By Product (Petrochemical And Manufactured, Biotechnological), By Geographic Scope And Forecast

Octadecanedioic Acid Market Size And Forecast

Octadecanedioic Acid Market size is valued at USD 8.12 Million in 2021 and is projected to reach USD 11.62 Million by 2030, growing at a CAGR of 4.06% from 2022 to 2030.

The Global Octadecanedioic Acid Market progress is determined by the rising demand for eco-friendly solutions and the rising needs of the cosmetics segment. The rising mandate for eco-friendly solutions. The environmental solutions have been gaining a position globally, which is expected to improve the Octadecanedioic Acid Market in the estimated period. The developing trend for maintainable and environment-friendly commodities to diminution the dependency on petrochemical products is expected to offer various lucrative opportunities for the market’s growth. Unstable prices of petrochemical products, owing to supply-demand differences, have urged a shift towards bio-based chemicals.

The rising demand for renewable chemicals used for end-use products is predictable to support market growth over the coming years. Due to the pandemic, the octadecanedioic acid industry has failed due to less demand from its end-users. The Octadecanedioic Acid Market used in automotive, construction, cosmetic, and textiles industries has been disadvantaged to some extent in the initial phase of the lockdown. For example, consumers are expenditure less on beauty products during the pandemic, which will harmfully impact the cosmetic industry, impacting the sales of octadecanedioic acid.

Global Octadecanedioic Acid Market Definition

Octadecanedioic acid, also called C18 diacid, is a long chain dicarboxylic acid which contains two carbon modules. Dicarboxylic acid is produced by the old-style method of butadiene oxidation. The primary raw material exploited in this process consists of petrochemicals. Water disgusting features of C18 dicarboxylic acid have increased extensive application in cosmetics. The submission of octadecanedioic acid in coatings, adhesives, sealants, and elastomers part is projected to gain projection in the calculation period. Microbial fermentation of mid-and long-chain n-alkanes or fatty acids to produce octadecanedioic acid is also practiced widely.

The advantages of octadecanedioic acids, such as condensed carbon footprint, improved concert, and renewable content, are boosting the market claim among manufacturers. Moreover, the commercialization of biobased methods with growing demand for renewable sources in the cosmetics market is expected to market demand. Octadecanedioic acid is appropriate to the class of organic compounds known as water-insoluble long-chain fatty acids and is comparatively neutral. They are expansively used in applications such as powder coating, lubricant oils, polyester polyols, and cosmetics.

Global Octadecanedioic Acid Market Overview

The Octadecanedioic Acid Market is stuck by the absence of commercial accessibility. Most of the industry still develops petrochemicals for various submissions and hence, octadecanedioic acid is still not twisted commercially. However, octadecanedioic has enlarged from two pathwaysmicrobial fermentation and metathesis of natural oils. The latter pathway is predictable to expand the accessibility of C18 diacid and lower its cost. The properties made from this diacid typically show superior possessions, such as water and chemical struggle, then the shorter chain replacements. Therefore, a myriad of new products made from ODDA should soon be available.

Traditionally, dicarboxylic acids were formed through chemical reactions such as multistep butadiene oxidation, which exploit petrochemical as a raw material. Creativities began to reduce dependency on petrochemical feedstock led to biotechnological manufacturing methods, namely, metathesis and microbial fermentation. Further growths & investments in the biotechnological field are expected to facilitate commercial-scale production of C18 dibasic acid finished microbial fermentation. As compared to other diacids, some of the benefits of C18 diacids are their lower unpredictability, relatively high melting point, and enlarged hydrophobic nature.

The demand for octadecanedioic acid has been increasing in manufacturing candles, shaving soaps, cosmetics, lubricants, and pharmaceuticals. The high price of the product is probable to restrain the development of the Octadecanedioic Acid Market in the above-stated period. Other key factors influencing the Octadecanedioic Acid Market are rising demand for paints, elastomers, and polyester foam in numerous industrial and automotive applications. Investments & studies focused on increasing the application scope of ODDA are expected to fuel use in dissimilar end-use industries.

Global Octadecanedioic Acid MarketSegmentation Analysis

The Global Octadecanedioic Acid Market is Segmented on the basis of Industry Type, Product, and Geography.

Octadecanedioic Acid Market, By Industry Type

• Medical• Construction• Cosmetics• Textiles

Based on Industry Type, the market is segmented into Medical, Construction, Cosmetics, and Textiles. The Octadecanedioic Acid Market has been rising as an alternative to azelaic acid in the cosmetic industry. This octadecanedioic acid brightens skin by dropping tyrosinase and melanin (skin pigment) creation. It can be utilized to treat skin coloring problems such as hyperpigmentation, dark spots, and melasma. Octadecenedioic acid is found in sunflower seeds and is physically comparable to azelaic acid. Octadecenedioic acid has retired as a higher efficacy alternative to azelaic acid. Azelaic acid was usually used due to its low cost. Still, its side effects include hurtful, burning, itching, tingling, or flaking of the skin, which has increased the market for octadecenedioic acid.

Octadecanedioic Acid Market, By Product

• Petrochemical and Manufactured• Biotechnological

Based on Product the market is segmented into Petrochemical and Manufactured and Biotechnological. Biotechnological is more controlling the market. In the biotechnology technique, vegetable oil is used as a raw substance. Production norms in the automobile and other industrial sectors have played a significant role in the development of biotechnology-based acids. The volatile prices of petrochemical products coupled with the inequity in the supply and demand of petrochemical raw resources have led to the shift toward biotechnology-based chemicals.

Octadecanedioic Acid Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, the Global Octadecanedioic Acid Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia-Pacific region holds a substantial market share for the Octadecanedioic Acid Market globally and is estimated to continue its dominance in the forecast period. The rising need in the pharmaceutical sector and growing awareness of eco-friendly products is increasing the market in the Asia-PacificCountries like China, India, and Japan are looking for the outpouring in the treatment of polyester polyols in many sectors. The automotive sector exploits polyester polyols to manufacture parts.

Key Players

The “Global Octadecanedioic Acid Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Elevance Renewable Sciences, Inc., TCI Chemicals Pvt. Ltd., Xiamen Sinopeg Biotech Co. Ltd., Larodan, Nanjing Chemlin Chemical Industry Co. Ltd., Croda International Plc., Cathay Industrial Biotech Ltd., TCI America, BASF SE.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In June 2020, Elevance retailed its half stake in the Gresik biorefinery making Wilmar the sole owner of the 180 ktpa metathesis plant. All production, action, and sales coming from the Gresik biorefinery are now accomplished by Wilmar through its subsidiary PT Aria Persada Indonesia, while Elegance probably just deals with obvious licensing and maybe a little bit of R&D. There had been no news or company entrances that the blog established from Elegance since the pandemic started.

• 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. The company has been given “Best Supplier for COVID-19 Vaccine Development” at the India Biologics & Vaccines Unsettled Industry Awards (BVOIA) 2022.

• On March 22, 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. From now on, force majeure will be enforced on all Lupranate MDI products and products containing MDI ingredients. Operative BASF is currently carrying out active maintenance on the equipment, and the production break is currently forecast to last around three weeks.

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