Octadecanedioic Acid (ODDA) Market - Changing Supply And Demand Scenarios By 2024

Growing demand for renewable chemicals used to derive high value intermediate & end-use products is expected to support market growth over the coming years. The Global Octadecanedioic Acid (ODDA) Market is anticipated to reach USD 9.4 million by 2024, according to a new report by Grand View Research, Inc.

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.

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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.

Top Players of Octadecanedioic Acid (ODDA) Market:

Key market players include Elevance Renewable Sciences Inc., Croda International Plc., Cathay Industrial Biotech Ltd., TCI America, and BASF SE

Market Segmentation of Octadecanedioic Acid (ODDA) Market:

The Global Octadecanedioic Acid Market segmented on the basis of Application and Region.

By Application:

    Polyester polyols
    Cosmetics
    Powder coatings
    Lubricating oil

By Region:

    North America
    Europe
    Asia Pacific
    Middle East and Africa
    Latin America

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