Octadecanedioic Acid Market - By Application (Polyester Polyols, Lubricants and Greases, Powder Coatings, Personal Care Products, Others), By End-use (Automotive, Construction, Textiles, Cosmetics, Others) & Forecast, 2023 - 2032

Octadecanedioic Acid Market - By Application (Polyester Polyols, Lubricants and Greases, Powder Coatings, Personal Care Products, Others), By End-use (Automotive, Construction, Textiles, Cosmetics, Others) & Forecast, 2023 - 2032

Octadecanedioic acid market size is expected to observe around 4.5% CAGR from 2023 to 2032 due to the growing demand for sustainable and bio-based materials in manufacturing. The disposal and recyclability of plastic and other materials used in the manufacturing sector is of utmost importance in today’s world. According to a study, globally, only 10% of the colossal 400 million tonnes of plastic produced annually goes for recycling. These statistics show the need for the use of eco-friendly materials that are biodegradable or can be recycled easily.

ODDA, a renewable chemical derived from castor oil, aligns with the increasing global emphasis on eco-friendly practices. The growing awareness regarding the benefits of octadecanedioic acid, such as its corrosion resistance and excellent thermal stability, is fueling its adoption across diverse industries. There is a surge in product demand as manufacturers seek innovative solutions that balance performance with environmental sustainability.

The overall octadecanedioic acid industry is classified based on application, end-use, and region.

The personal care products segment is predicted to witness substantial growth through 2032. ODDA serves as a key ingredient in the formulation of cosmetics, skincare, and hair care products. The acid's moisturizing properties and its ability to enhance the longevity of formulations make it a sought-after component in the cosmetic industry. As consumers increasingly prioritize products with natural and sustainable ingredients, the demand for octadecanedioic acid in personal care applications will surge.

The construction segment will record strong CAGR from 2023 to 2032, owing to the exceptional properties of octadecanedioic acid that enhance the durability and performance of construction materials. ODDA is employed in coatings, adhesives, sealants, and other construction chemicals, offering improved resistance to environmental factors and ensuring long lifespan of structures. The increasing construction activities globally, coupled with a focus on high-performance and sustainable building materials, are propelling the product adoption.

Asia Pacific octadecanedioic acid market is anticipated to generate massive revenues between 2023 to 2032, driven by rapid industrialization, urbanization, and increasing consumer awareness. Countries like China and India are key growth contributor, with a surging demand for ODDA in various applications, including textiles, automotive, and packaging. The region's expanding middle-class population and their changing lifestyle preferences contribute significantly to the increasing consumption of personal care and cosmetic products, further boosting the demand for octadecanedioic acid.