Octadecanedioic Acid (ODDA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Octadecanedioic Acid (ODDA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global octadecanedioic acid (ODDA) market size reached US$ 8.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.

Octadecanedioic acid (ODDA) (C18H34O4) is an intermediate chemical used as a basic building block for the formulation of compounds. It is produced by microbial fermentation and is usually found in various plants and animal fats. It is a long waxy chain of dicarboxylic acid with two carbon components that appears as a white solid with a mildly pungent, oily odor. ODDA is widely used as a lubricating agent, food additive, emulsifier, and emollient. It is also used to manufacture pharmaceuticals, cosmetics, soaps, shampoos, insulators, and detergents. As a result, ODDA finds extensive applications across the automotive, cosmetic, pharmaceutical, and construction industries.

Octadecanedioic Acid (ODDA) Market Trends:
The increasing incorporation of ODDA in personal care and cosmetic products as an emulsifying, moisturizing, and surfactant agent is creating a positive outlook for the market. It is also used to produce moisturizers, sunscreen, makeup, soap, and baby lotions. In line with this, the rising knowledge of personal health, hygiene, and cleanliness, along with the surge in beauty consciousness, is acting as another growth-inducing factor. Additionally, the widespread product adoption for manufacturing polymers, such as polyurethane, polyphenylene oxide, polyphenylene ethers, epoxy, polyether amides, and polycarbonates, is favoring the market growth. Furthermore, the polyester polyols derived from ODDA exhibit excellent solvent resistance, optical clarity, toughness, and hydrolytic stability, which, in turn, is propelling the market growth. Apart from this, the rising environmental consciousness and the growing trend toward sustainable and environmentally friendly compounds to reduce the dependency on petrochemical products is providing an impetus to eh market growth. Other factors, including the increasing utilization of polyester polyols in the automotive industry, extensive research and development (R&D) activities, and the widespread product adoption as a thickener in grease compositions, are anticipated to drive the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global octadecanedioic acid (ODDA) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application and end use industry.

Breakup by Application:

Polyester Polyols
Powder Coatings
Cosmetics
Lubricating Oils
Others

Breakup by End Use Industry:

Automotive
Industrial
Medical
Construction
Cosmetics
Textiles
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Cathay Biotech Inc., Elevance Renewable Sciences Inc., Hunan HuaTeng Pharmaceutical Co. Ltd., Key Organics Limited (Tennants Consolidated Limited), Oakwood Products Inc., TCI Chemicals (India) Pvt. Ltd. (Tokyo Chemical Industry Co. Ltd.), Toronto Research Chemicals Inc. (LGC Limited), Xiamen Sinopeg Biotech Co. Ltd. and Zhejiang Hongxin Dyeing Material Co. Ltd.

Key Questions Answered in This Report:
How has the global octadecanedioic acid (ODDA) market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global octadecanedioic acid (ODDA) market?
What are the key regional markets?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global octadecanedioic acid (ODDA) market and who are the key players?
What is the degree of competition in the industry?