Global Octadecanedioic Acid Market, By Type (Manufactured By Petrochemical, Manufactured By Biotechnological), End-Use Industry (Automobile, Industrial, Medical, Construction, Food Service, Textiles), Application (Polyester Polyols, Cosmetics, Powder Coating, Lubricant Oils) – Industry Trends and Forecast to 2029.
Octadecanedioic Acid Market Analysis and Size
The market growth can be recognised by increasing demand from several production industries such as automobile, industrial, food service, medical, construction, textiles, and among others. Personal care and cosmetics are expected to show high growth due to shifting the consumer preferences towards organic products across the globe especially in developing economies. Furthermore, the major market players are focusing on easy access to raw materials and meeting environmental regulations which is expected to augment the market growth during the forecast period.
Data Bridge Market Research analyses that the octadecanedioic acids market was valued at USD 8.23 million in 2021 and is expected to reach USD 11.70 million by 2029, registering a CAGR of 4.50% during the forecast period of 2022 to 2029. 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.
Octadecanedioic Acid Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Manufactured By Petrochemical, Manufactured By Biotechnological), End-Use Industry (Automobile, Industrial, Medical, Construction, Food Service, Textiles), Application (Polyester Polyols, Cosmetics, Powder Coating, Lubricant Oils)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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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)
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Market Opportunities
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Market Definition
Octadecanedioic acid belongs to the group of organic compounds which is also known as water-insoluble long chain fatty acids. Octadecanedioic acid is a long chain of dicarboxylic acid which contains two carbon components. It is also known as C18 diacid. The octadecanedioic acid has produced by microbial fermentation, on a commercial scale. In the biotechnology method, the octadecanedioic acid is formwed by vegetable oil which is used as a raw material.
Global Octadecanedioic Acid Market Dynamics
Drivers
- Increasing demand of octadecanedioic acid in automotive and industrial applications
Octadecanedioic acid is used in the production polyester foams, elastomers and paints. The growing demand of polyester foams, elastomers and paints in several industrial and automotive applications, are some major factors which is expected to propel the growth of global octadecanedioic acid market during forecast period of 2022-2029.
- High usage in personal care and cosmetic industry
Octadecanedioic acid is not just used in automotive sector, it is also used in a lot of personal care and cosmetic products. These octadecanedioic acids are very helpful compound in cosmetics products. The main reason for using octadecanedioic acid in cosmetics is shifting consumer preferences towards organic products due to its health benefits, which are expected to boost market growth rate.
Furthermore, increasing preference for sustainable and eco-friendly products to decrease petrochemical dependency, rising demand for engineering polymers are some of the factors which is expected to drive growth of the octadecanedioic acid market during the forecast period of 2022-2029. On the other hand, evolving applications of octadecanedioic acid in textiles and medical industries further drive the growth of the octadecanedioic acid market in the above mentioned period.
Opportunities
- Increase in the number of emerging markets
Major market players are focusing on acquisition and mergers to increase their presence throughout the value chain. The majority of the industry market players are concentrating on product advancements and are targeting the development of new products with eco-friendly properties to cater to a broader application market, which will create profitable opportunities for the growth of the octadecanedioic acid market.
Furthermore, numerous measures supporting sustainability and environmental conservations are expected to promote octadecanedioic acid application in several end-user industries. Favourable consumer spending patterns are anticipated to increase investments in the construction, automotive and personal care sector which will indirectly support the sales of octadecanedioic acid and generate immense opportunities for the market growth.
Restraints/ Challenges
- High cost associated with octadecanedioic acid
The high cost of product is anticipated to restrain the demand of the octadecanedioic acid and obstruct the growth rate of the market octadecanedioic acid during the forecast period of 2022-2029.
This octadecanedioic acid 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 octadecanedioic acid 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.
Global Octadecanedioic Acid Market Scope
The octadecanedioic acid market is segmented on the basis of type, 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.
Type
- Manufactured By Petrochemical
- Manufactured By Biotechnological
End-Use Industry
- Automobile
- Industrial
- Medical
- Construction
- Food Service
- Textiles
Application
- Polyester Polyols
- Cosmetics
- Powder Coating
- Lubricant Oils
Octadecanedioic Acid Market Regional Analysis/Insights
The octadecanedioic acid 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 octadecanedioic acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the octadecanedioic acid market in terms of market share and revenue. This is due to the growing awareness for environment-friendly products within this region.
Asia-Pacific is expected to be the fastest developing region during the forecast period of 2022-2029 due to the rapidly increasing demand for octadecanedioic acid in numerous applications such as polyester, powder coatings, polyols and cosmetics in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like 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 octadecanedioic acid 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 octadecanedioic acid market.
Some of 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)
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