Octadecanedioic Acid Market Size To Reach $11.6 Million By 2030

Octadecanedioic Acid Market Growth & Trends

The global octadecanedioic acid market size is estimated to reach USD 11.6 million by 2030, expanding at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing demand for renewable chemicals used to derive high value intermediate & end-use products is expected to support market growth over the coming years.

Traditionally, dibasic or dicarboxylic acids were produced through chemical reactions such as multistep butadiene oxidation which used petrochemical as a raw material. Initiatives undertaken to reduce dependency on petrochemical feedstock led to the development of biotechnological production methods, namely, microbial fermentation and metathesis.

Further expansions & investments in the biotechnological field are anticipated to facilitate commercial scale production of C18 dibasic acid through microbial fermentation. Vegetable oil is used as feedstock while using the biotechnological processes.

Rising ODDA demand from soaps & detergents and organic personal care products is projected to augment octadecanedioic acid market growth over the forecast period. Developing economies such as India, China, South Korea and Japan are slated to emerge as the key end-use markets. Growing application scope in personal care and plastics is expected to augment product demand over the forecast period.

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Octadecanedioic Acid Market Report Highlights

• Water repellant properties of C18 dicarboxylic acid has found extensive application in cosmetics.

• The application of octadecanedioic acid in coatings, adhesives, sealants, and elastomers (CASE) segment is projected to gain prominence across the world.

• Polyester polyols application dominated the market with a revenue share of 50.2% in 2023.

• Advantages such as improved performance, reduced carbon footprint, and renewable content enable manufacturers to charge a “green premium” on products.

• Commercialization of biobased methods coupled with increasing demand for renewable sources in the lubricants and cosmetics market is anticipated to augment market demand.

• Lubricating oil is projected to occupy the second-largest share on account of increasing use of ODDA as thickener component in grease composition.

• Rising awareness of ecofriendly products and increasing government initiatives supporting measures towards sustainable environment is expected to propel market demand.

Octadecanedioic Acid Market Segmentation

Grand View Research has segmented the global octadecanedioic acid market based on application, and region:

Octadecanedioic Acid Application Outlook (Volume, Kilograms; Revenue, USD Million, 2018 - 2030)

• Polyester Polyols

• Cosmetics

• Powder Coatings

• Lubricating Oils

• Others

Octadecanedioic Acid Regional Outlook (Volume, Kilograms; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

• Europe

  • Germany

  • France

• Asia Pacific

  • Japan

• Latin America

• Middle East & Africa

List of Key Players in Octadecanedioic Acid Market

• Larodan AB

• Procter & Gamble

• Cathay Biotech Inc.

• Tokyo Chemical Industry (India) Pvt. Ltd.

• INDOFINE Chemical Company, Inc.

• XIAMEN SINOPEG BIOTECH CO., LTD.

• Hunan Huateng Pharmaceutical Co., Ltd