Octadecanedioic Acid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Octadecanedioic Acid Market Analysis
The market for Octadecanedioic Acid (ODDA) is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are increasing demand of octadecanedioic acid for synthesis of polymers and rising demand from cosmetics segment. On the flipside, high cost of the product and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
- Growing trend for sustainable and environment friendly products to reduce the dependency on petrochemical products is expected to offer various lucrative opportunities for the growth of market.
- By application, polyester polyols segment is expected to dominate the market owing to the increase in the usage of octadecanedioic acid as an intermediate for manufacturing various types of polymers.
- Asia-Pacific region dominated the octadecanedioic acid market across the globe with the largest consumption from countries such as China and India.
Octadecanedioic Acid Market Trends
This section covers the major market trends shaping the Octadecanedioic Acid (ODDA) Market according to our research experts:
Increasing Demand from Polyester Polyols Segment
- Octadecanedioic acid is a long chain dicarboxylic acid that is octadecane in which both terminal methyl groups have been replaced by carboxy groups.
- The growing demand for octadecanedioic acid for manufacturing polymers such as polyurethane, polyphenylene oxide, polyphenylene ethers, epoxy, polyether amides, and polycarbonates is propelling the octadecanedioic acid market.
- Additionally, the polyester polyols derived from octadecanedioic acid have superior properties like excellent solvent resistance, optical clarity, toughness, and hydrolytic stability. Owing to these excellent properties, the demand of octadecanedioic acid is increasing in the polyester polyols segment which is stimulating its market.
- The global polyester polyols market is expected to grow at a CAGR over 6% during the forecast period. This, would increase the demand for octadecanedioic acid as it acts as an intermediate for manufacturing of various engineering polymers and thus, propel the octadecanedioic acid market during the forecast period.
- Owing to all the above-mentioned factors for octadecanedioic acid, its market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for octadecanedioic acid during the forecast period. In countries like India, Japan, and China, owing to surge in the usage of polyester polyols in automotive sector for making vehicle parts and in construction sector due to increasing infrastructure development projects, urbanization and industrialization, the demand for octadecanedioic acid has been increasing in the region.
- Octadecanedioic acid is used as a basic building block for the formulation of compounds which are used in personal care & cosmetics sector and in pharmaceutical sector for treatment of type-2 diabetes. Owing to these factors, the demand for octadecanedioic acid has been increasing in the region.
- Additionally, increasing usage of octadecanedioic acid as a thickener in grease compositions is further boosting its market. Also, polyamide derived from octadecanedioic acid is used for metal working lubricants. The Asia-Pacific bio-lubricants market is expected to grow at a CAGR of over 3% during the forecast period. These factors are anticipated to stimulate the octadecanedioic acid.
- Furthermore, the growing awareness for sustainable and environment-friendly products coupled with stringent environmental regulations on industrial and automotive sector have boosted the demand for bio-based products. This will further help in boosting the octadecanedioic acid market.
- The Asia-Pacific cosmetics market is expected to grow at a CAGR of over 4% during the forecast period. This is likely to create ample opportunities for octadecanedioic acid market to grow during the forecast period.
- Some of the major companies operating in Asia-Pacific region are - Elevance Renewable Sciences, Inc., TCI Chemicals (India) Pvt. Ltd., and Nanjing Chemlin Chemical Industry Co., Ltd.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for octadecanedioic acid during the forecast period.
Octadecanedioic Acid Industry Overview
The octadecanedioic acid market is highly consolidated with top players accounting for a major share of the market. Some of the key companies in the market include Elevance Renewable Sciences, Inc., TCI Chemicals (India) Pvt. Ltd., Nanjing Chemlin Chemical Industry Co., Ltd., Hunan HuaTeng Pharmaceutical Co., Ltd., and XIAMEN SINOPEG BIOTECH CO., LTD.
Octadecanedioic Acid Market Leaders
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Elevance Renewable Sciences, Inc.
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TCI Chemicals (India) Pvt. Ltd.
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Hunan HuaTeng Pharmaceutical Co., Ltd.
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Nanjing Chemlin Chemical Industry Co., Ltd.
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XIAMEN SINOPEG BIOTECH CO., LTD.
*Disclaimer: Major Players sorted in no particular order
Octadecanedioic Acid Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Demand for Octadecanedioic Acid for Synthesis of Polymers
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4.1.2 Rising Demand from Cosmetics Segment
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4.2 Restraints
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4.2.1 High Cost of the Product
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4.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak
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4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Application
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5.1.1 Polyester Polyols
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5.1.2 Powder Coatings
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5.1.3 Cosmetics
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5.1.4 Lubricating Oils
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5.1.5 Others
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5.2 Geography
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5.2.1 Asia-Pacific
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5.2.1.1 China
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5.2.1.2 India
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5.2.1.3 Japan
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5.2.1.4 South Korea
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5.2.1.5 Rest of Asia-Pacific
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5.2.2 North America
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5.2.2.1 United States
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5.2.2.2 Canada
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5.2.2.3 Mexico
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5.2.3 Europe
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5.2.3.1 Germany
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5.2.3.2 United Kingdom
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5.2.3.3 Italy
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5.2.3.4 France
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5.2.3.5 Rest of Europe
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle-East and Africa
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5.2.5.1 Saudi Arabia
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5.2.5.2 South Africa
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5.2.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share (%)/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Elevance Renewable Sciences, Inc.
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6.4.2 TCI Chemicals (India) Pvt. Ltd.
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6.4.3 Nanjing Chemlin Chemical Industry Co., Ltd.
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6.4.4 Hunan HuaTeng Pharmaceutical Co., Ltd.
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6.4.5 XIAMEN SINOPEG BIOTECH CO., LTD.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Growing Trend for Sustainable and Environment Friendly Products
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7.2 Other Opportunities
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Octadecanedioic Acid Industry Segmentation
The Octadecanedioic Acid (ODDA) market report includes:
| Application | |
| Polyester Polyols | |
| Powder Coatings | |
| Cosmetics | |
| Lubricating Oils | |
| Others |
| Geography | |||||||
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Octadecanedioic Acid Market Research FAQs
What is the current Octadecanedioic Acid (ODDA) Market size?
The Octadecanedioic Acid (ODDA) Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Octadecanedioic Acid (ODDA) Market?
Elevance Renewable Sciences, Inc. , TCI Chemicals (India) Pvt. Ltd. , Hunan HuaTeng Pharmaceutical Co., Ltd. , Nanjing Chemlin Chemical Industry Co., Ltd. and XIAMEN SINOPEG BIOTECH CO., LTD. are the major companies operating in the Octadecanedioic Acid (ODDA) Market.
Which is the fastest growing region in Octadecanedioic Acid (ODDA) Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Octadecanedioic Acid (ODDA) Market?
In 2024, the Asia Pacific accounts for the largest market share in Octadecanedioic Acid (ODDA) Market.
What years does this Octadecanedioic Acid (ODDA) Market cover?
The report covers the Octadecanedioic Acid (ODDA) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Octadecanedioic Acid (ODDA) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Octadecanedioic Acid Industry Report
Statistics for the 2023 Octadecanedioic Acid market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Octadecanedioic Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
