Growing demand in octadecanedioic acid market from organic personal care products, detergents and soaps is projected to enhance the current market growth over the forecasted period. Emerging giant economies such as Japan, South Korea, China and India are scheduled to arise as the crucial end-users’ market. Increasing application opportunity in plastics and personal care is likely to enhance the product demand over the estimated period of time.
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The basic element for preparation of a compound used in pharmaceutical and personal care is the C18 dicarboxylic acid. The cosmetic application section is projected to grow at a desirable and significant CAGR in the years from 2016 to 2024. This is because of the inclination towards natural chemical sources. Growing cognizance of natural skin-care constituents with properties of anti- aging is likely to increase the demand of octadecanedioic acid market over the next decade. In the oils and lubricating segment too, octadecanedioic acid is used as thickener in the grease compositions. In the metal working lubricants, polyamide is used. Polyamide is derived from C18 dicarboxylic acid.
Asia Pacific is expected to grow at a significant CAGR in the forecasted years from 2016 to 2024. The Asia Pacific region is categorized by more polyester polyols use in the construction and automotive industry. Hence Asia Pacific is expected to gain a prominent percentage share by the end of the forecast period. Growing number of infrastructure projects in Japan, China and India is likely to boost demand of octadecanedioic acid market.
Various measures backing up environmental sustainability and conservations are expected to promote Octadecanedioic acid application’s segments of end-use. Fortunate consumer expense patterns are likely to augment investments in the personal care, construction and automobile sector, which are indirectly supportive in the sales of octadecanedioic acid market.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the octadecanedioic acid market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
Some of the major companies in octadecanedioic acid market include the Nanjing Chemlin Chemical Industrial Co., BASF SE, TCI America, Cathay Industrial Biotech Ltd., Croda International Plc., and Elevance Renewable Sciences Inc.
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The octadecanedioic acid industry is expected to improve and grow at a stable rate. Manufacturers are in the hunt for developing processes for efficient production and a sturdy distribution network to commercialize the application of octadecanedioic acid. The octadecanedioic acid market is highly competitive as entities strive to create acid of a higher and improved quality. Renewable content and outstanding product properties allows the manufacturers to impose a premium for the product.
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