San Francisco, 16 April , Octadecanedioic
Acid (ODDA) Market Analysis By Application (Polyester Polyols, Cosmetics,
Powder Coatings, Lubricating Oils), By Region (North America, Europe, Asia
Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2018
- 2024
The global octa decanedioicacid (ODDA) market is anticipated to reach
USD 9.4 million by 2024, 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
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.
Access Full Research
Report On Octadecanedioic Acid (ODDA) Market Analysis:
http://www.grandviewresearch.com/industry-analysis/octadecanedioic-acid-odda-market
http://www.grandviewresearch.com/industry-analysis/octadecanedioic-acid-odda-market
Further key findings from the report suggest:
·
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
·
Demand in the polyester polyols
segment accounted for approximately 50% of the market volume in 2015
·
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 compositions
·
Rising awareness of ecofriendly
products and increasing government initiatives supporting measures towards
sustainable environment is expected to propel market demand
·
Volatile price of petrochemical
derived products on account of supply-demand imbalances has prompted the shift
towards biobased chemicals
·
Elevance Renewable Sciences
Inc. has developed its own patented metathesis catalyst technology, which has
fortified its hold in the market
·
Key market players include
Elevance Renewable Sciences Inc., Croda International Plc., Cathay
Industrial Biotech Ltd., TCI America, and BASF SE
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/renewable-chemicals
Grand View Research has segmented the
octadecanedioic acid market on the basis of application and region:
OctadecanedioicAcid Application
Outlook (Volume, Kilo Grams; Revenue, USD Thousand, 2014 - 2024)
·
Polyester polyols
·
Cosmetics
·
Powder coatings
·
Lubricating oil
·
Others
OctadecanedioicAcid Regional
Outlook (Volume, Kilo Grams; Revenue, USD Thousand, 2014 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
France
·
Asia Pacific
o
Japan
·
Middle East and Africa
·
Latin America
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-octadecanedioic-acid-odda-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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