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Global Octadecanedioic Acid Market - Industry Trends and Forecast to 2031

Chemical and Materials

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Global Octadecanedioic Acid Market - Industry Trends and Forecast to 2031

  • Chemical and Materials
  • Upcoming Report
  • Jul 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Octadecanedioic Acid Market - Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 8.99 Billion
Diagram Market Size (Forecast Year) USD 12.78 Billion
Diagram CAGR %

Major Markets Players

  • BASF SE (Germany)
  • Elevance Renewable Sciences
  • Inc. (U.S.)
  • Croda International Plc (U.K.)
  • Cathay Biotech Inc. (China)

Global Octadecanedioic Acid Market, By Process (Microbial Fermentation, and Metathesis), Type (Manufactured By Petrochemical, Manufactured By Biotechnological), By Usage (Monomer and Additive, Coating, Reactive Diluent, Toners/Ink, and Ingredient), End-Use Industry (Automobile, Industrial, Medical, Construction, Food Service, Textiles, Cosmetics, and Others), Application (Polyester Polyols, Cosmetics, Powder Coating, Lubricant Oils, Corrosion Inhibitors, Epoxy Curing, Reactive Coating, Epoxy Esters, Specialty polyesters and Nylons, Hot Melt Adhesives, Specialty Waxes, and Polyimide Ink Resins) - Industry Trends and Forecast to 2023 to 2031.

Octadecanedioic Acid Market

Octadecanedioic Acid Market Analysis and Size

Octadecanedioic acid plays a crucial role in the polyester resin industry as a key component in the production of these versatile materials. Polyester resins synthesized with octadecanedioic acid exhibit enhanced properties such as flexibility, durability, and chemical resistance, making them ideal for a wide range of applications. These resins are extensively used in industries such as automotive, construction, marine, and consumer goods for manufacturing fiberglass-reinforced plastics (FRP), composites, coatings, and adhesives. The market for octadecanedioic acid in polyester resins continues to grow due to increasing demand across these sectors and ongoing innovations in resin formulation to meet specific performance requirements.

The global octadecanedioic acid market size was valued at USD 8.99 billion in 2023 and is projected to reach USD 12.78 billion by 2031, with a CAGR of 4.50% during the forecast period of 2024 to 2031.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Process (Microbial Fermentation, and Metathesis), Type (Manufactured By Petrochemical, Manufactured By Biotechnological), By Usage (Monomer and Additive, Coating, Reactive Diluent, Toners/Ink, and Ingredient), End-Use Industry (Automobile, Industrial, Medical, Construction, Food Service, Textiles, Cosmetics, and Others), Application (Polyester Polyols, Cosmetics, Powder Coating, Lubricant Oils, Corrosion Inhibitors, Epoxy Curing, Reactive Coating, Epoxy Esters, Specialty polyesters and Nylons, Hot Melt Adhesives, Specialty Waxes, and Polyimide Ink Resins)

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America

Market Players Covered

BASF SE (Germany), Elevance Renewable Sciences, Inc. (U.S.), Croda International Plc (U.K.), Cathay Biotech Inc.  (China), TCI Chemicals (India) Pvt. Ltd. (India), Nanjing Chemlin Chemical Industrial Co. Ltd. (China), XIAMEN SINOPEG BIOTECH CO., LTD. (China), Hunan HuaTeng Pharmaceutical Co., Ltd. (China)

Market Opportunities

  • Growing Demand for Octadecanedioic Acid
  • Rising Advancements in Material Science

Market Definition

Octadecanedioic acid, also known as C18 dicarboxylic acid, is a long-chain dicarboxylic acid with 18 carbon atoms. It is used in various industrial applications such as the production of polyester resins, powder coatings, polyurethane polyols, and cosmetics. Octadecanedioic acid is valued for its ability to impart desirable properties such as flexibility, durability, and chemical resistance to these end products, making it a versatile chemical in industrial and consumer goods manufacturing.

Octadecanedioic Acid Market Dynamics

Drivers

  • Increasing Regulatory Requirements

Regulatory bodies worldwide are implementing stricter guidelines and standards for chemicals used in various applications such as coatings, plastics, and cosmetics. Octadecanedioic acid, known for its eco-friendly and low toxicity properties compared to traditional chemicals, meets these stringent requirements effectively. Companies are increasingly adopting octadecanedioic acid in their formulations to comply with regulations while maintaining product performance and consumer safety. This regulatory push not only expands the market for octadecanedioic acid but also drives innovation in sustainable chemistry practices across industries.

  • Rapid Infrastructure Development

As countries invest in building roads, bridges, airports, and other infrastructure projects, there is a substantial demand for materials that offer durability, corrosion resistance, and enhanced performance that octadecanedioic acid can impart to products such as polyester resins and powder coatings used in construction. This trend is particularly pronounced in emerging economies where urbanization and industrialization are accelerating, leading to increased consumption of construction materials and coatings. Octadecanedioic acid's role in enhancing the longevity and sustainability of infrastructure components positions it as a critical ingredient in meeting these demands.

Opportunities

  • Growing Demand for Octadecanedioic Acid

Industries such as automotive, construction, electronics, and cosmetics rely on octadecanedioic acid for its versatile applications in polyester resins, powder coatings, polyurethane polyols, and cosmetics formulations. In automotive applications, it enhances the strength and flexibility of materials, while in construction, it improves the durability and weather resistance of coatings and composites. The electronics sector utilizes it for its electrical insulation properties. Moreover, the rising consumer preference for durable and high-performance materials is further fueling the demand for octadecanedioic acid across these diverse industries, driving market growth globally.

  • Rising Advancements in Material Science

Advancements in material science include the development of new formulations and technologies that leverage octadecanedioic acid's unique properties. Researchers are exploring novel methods to enhance the performance characteristics of materials such as polyester resins, polyurethane polyols, and powder coatings by incorporating octadecanedioic acid. This chemical's ability to improve flexibility, durability, and chemical resistance in various applications makes it a preferred choice for manufacturers seeking innovative solutions. As material science continues to evolve, the demand for octadecanedioic acid is expected to grow, driven by its integral role in enabling next-generation materials with enhanced functionality and sustainability.

Restraints/Challenges

  • High Cost Sensitivity

The higher production costs of octadecanedioic acid compared to alternative chemicals can deter manufacturers and end-users from incorporating it into their formulations, especially in price-sensitive sectors like construction and consumer goods. Additionally, cost-conscious procurement strategies may favor cheaper alternatives, even if they offer slightly lower performance or environmental benefits.

  • Limited Awareness

This lack of awareness can lead to slow adoption rates, particularly in industries where established alternatives are already widely used. Educational efforts about the advantages of octadecanedioic acid in terms of environmental sustainability, performance improvements, and regulatory compliance are crucial for overcoming this barrier. Additionally, the complexity of its chemical properties and manufacturing processes may contribute to limited understanding among decision-makers in industries like coatings, plastics, and cosmetics, where informed choices drive material selection and formulation decisions.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Octadecanedioic Acid Market Scope

The market is segmented on the basis of process, type, usage, end-use industry and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Process

  • Microbial Fermentation
  • Metathesis

Type

  • Manufactured By Petrochemical
  • Manufactured By Biotechnological

Usage

  • Monomer and Additive
  • Coating, Reactive Diluent
  • Toners/Ink
  • Ingredient

End-Use Industry

  • Automobile
  • Industrial
  • Medical
  • Construction
  • Food Service
  • Textiles
  • Cosmetics
  • Others

Application

  • Polyester Polyols
  • Cosmetics
  • Powder Coating
  • Lubricant Oils
  • Corrosion Inhibitors
  • Epoxy Curing
  • Reactive Coating
  • Epoxy Esters
  • Specialty Polyesters and Nylons
  • Hot Melt Adhesives
  • Specialty Waxes
  • Polyimide Ink Resins

Octadecanedioic Acid Market Analysis/Insights

The market is analysed and market size insights and trends are provided by country, type, end-use industry and application as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America.

North America dominates the market primarily due to its strong emphasis on environmental sustainability and regulations promoting eco-friendly products. Octadecanedioic acid, known for its biodegradable and non-toxic properties, aligns with North America's increasing demand for sustainable alternatives in various industries such as coatings, cosmetics, and pharmaceuticals. The region's advanced research capabilities and stringent environmental policies further bolster the adoption of octadecanedioic acid, driving its market growth and revenue generation.

Asia-Pacific is expected for rapid growth in the market, driven by soaring demand for octadecanedioic acid across diverse applications such as polyester, powder coatings, polyols, and cosmetics. This growth is fueled by expanding industrial sectors and rising consumer spending in countries such as China, India, and Japan. As these economies continue to industrialize and urbanize, there's a corresponding surge in the use of octadecanedioic acid, highlighting Asia-Pacific as a pivotal market for this versatile chemical compound.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Octadecanedioic Acid Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

  • BASF SE (Germany)
  • Elevance Renewable Sciences, Inc. (U.S.)
  • Croda International Plc (U.K.)
  • Cathay Biotech Inc.  (China)
  • TCI Chemicals (India) Pvt. Ltd. (India)
  • Nanjing Chemlin Chemical Industrial Co. Ltd. (China)
  • XIAMEN SINOPEG BIOTECH CO., LTD. (China)
  • Hunan HuaTeng Pharmaceutical Co., Ltd. (China)


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The major players operating in the Octadecanedioic Acid Market are BASF SE (Germany), Elevance Renewable Sciences, Inc. (U.S.), Croda International Plc (U.K.), Cathay Biotech Inc. (China), TCI Chemicals (India) Pvt. Ltd. (India), Nanjing Chemlin Chemical Industrial Co. Ltd. (China).
On the basis of application, the Octadecanedioic Acid Market is segmented into Polyester Polyols, Cosmetics, Powder Coating, Lubricant Oils.
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