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Octadecanedioic Acid Market: By Application, By End-user Industry and Region Forecast 2020-2031
Octadecanedioic Acid Market: By Application, By End-user Industry and Region Forecast 2020-2031
Octadecanedioic Acid Market size was valued at US$ 8,654.6 million in 2023 and is poised to grow at a CAGR of 4.8% from 2024-2030. Octadecanedioic Acid belongs to a class of organic compounds known as long fatty acids with an aliphatic tail and is used for the production of biodegradable engineering products with extraordinary properties like solvent resistance, toughness, water repellent, and high crystallinity. It is used extensively in soft tissue allografts engineering, drug delivery, surfactants, lubricants, coatings, and cosmetics.
According to a research article, octadecanoic acid reduces the carbon footprint by incorporating renewable content in the products. Moreover, Octadecanedioic acid from renewable feedstock reduces the dependency on petrochemical feedstock by producing eco-friendly products and improves the effectiveness of oleochemical-based biorefinery. Octadecanedioic acid is also used in wastewater treatment, as it can remove metal hydroxides and organic substances such as alcohol residues. It has been shown to be chemically stable and suitable for use in pharmaceutical preparations and process optimization.
According to an article Demand for increased production of polymers, increased demand from the cosmetic and personal care segment, and development in infrastructure are some of the driving factors for the market. Factors like the high cost of the products, unfavorable conditions due to the COVID-19 outbreak, and raw material shortage hinder the growth of the octadecanoic market.
However, the increase in the number of emerging markets, rise in strategic launches and collaborations, rapid development in infrastructure and techniques, and the increase in demand for healthy behavior and lifestyle have led to increased opportunities in market and is expected to flourish in the upcoming years. Moreover, the Cosmetics and personal care market is expected to show a high growth rate owing to the shifting preference of consumers towards organic products.
Study Period
2025-2031Base Year
2024CAGR
4.2%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
The Octadecanedioic acid polyester polyol thermoplastic polyurethane has properties like higher strength, resistance to hydrolysis, and lighter-weight products making it important in designing new and lighter-weight products. They show green strength and cured strength making them a key factor in reducing assembly time and increasing productivity since no parts have to be clamped after bonding. They are used extensively in the manufacturing of automotive instrument panel, caster wheels, power tools, sporting goods, medical devices, drive belts, a variety of extruded film, sheet and profile uses. This has led to the tremendous increase of octadecanedioic acid demand and blooming of market. Furthermore, its copolyamide with other polymers resulted in formation thermoplastics that are resistant to salt stress cracking and has lower melting point. Owing to these excellent properties and uses, the demand of octadecanedioic acid is increasing in the polyester polyols segment which is stimulating octadecanedioic acid market.
The Octadecanedioic acid market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific Octadecanedioic acid market is accounted to have a significant share in the global market and is expected to grow at a significant CAGR over the forecasted years owing to the increasing trends in personal care, cosmetics and automotive industry in countries of China, India and Japan. North America market is also anticipated to grow in the forecasting period owing to the rising demand for end-user industries, infrastructure development, urbanization and industrialization. Europe is also anticipated to experience significant growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2023 |
US$ 8,654.6 million |
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Market CAGR |
4.2% |
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By Application |
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By End-user |
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By Region |
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The octadecanedioic acid market size was valued at US$ 8,654.6 million in 2023 and is poised to grow at a CAGR of 4.8% from 2024-2030.
The market key players are: Elevance Renewable Sciences, Inc. TCI Chemicals (India) Pvt. Ltd. Hunan HuaTeng Pharmaceutical Co., Ltd. Nanjing Chemlin Chemical Industry Co., Ltd. XIAMEN SINOPEG BIOTECH CO., LTD. BASF SE Croda International Plc Cathay Biotech Inc Huateng Pharma Key Organics Limited Oakwood Products Inc. Toronto Research Chemicals Inc. Xiamen Sinopeg Biotech Co. Ltd. Zhejiang Hongxin Dyeing Material Co. Ltd.
The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Octadecanedioic Acid Market Introduction |
| 2.1.Global Octadecanedioic Acid Market - Taxonomy |
| 2.2.Global Octadecanedioic Acid Market - Definitions |
| 2.2.1.Application |
| 2.2.2. End-user |
| 2.2.3.Region |
| 3. Global Octadecanedioic Acid Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Octadecanedioic Acid Market Analysis, 2020 - 2024 and Forecast 2025 - 2031 |
| 4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Octadecanedioic Acid Market By Application , 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 5.1. Polyester Polyols |
| 5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Powder Coatings |
| 5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Adhesive Additives |
| 5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Sealants and Elastomers |
| 5.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Resin and Rubber |
| 5.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Cosmetics |
| 5.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Lubricating Oils |
| 5.7.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 5.8. Others |
| 5.8.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.8.3. Market Opportunity Analysis |
| 6. Global Octadecanedioic Acid Market By End-user , 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 6.1. Foodservice |
| 6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Automotive |
| 6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Pharmaceutical |
| 6.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Medical |
| 6.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Construction |
| 6.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Textiles |
| 6.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Others |
| 6.7.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7. Global Octadecanedioic Acid Market By Region, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. North America Octadecanedioic Acid Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 8.1. Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Polyester Polyols |
| 8.1.2.Powder Coatings |
| 8.1.3.Adhesive Additives |
| 8.1.4.Sealants and Elastomers |
| 8.1.5.Resin and Rubber |
| 8.1.6.Cosmetics |
| 8.1.7.Lubricating Oils |
| 8.1.8.Others |
| 8.2. End-user Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Foodservice |
| 8.2.2.Automotive |
| 8.2.3.Pharmaceutical |
| 8.2.4.Medical |
| 8.2.5.Construction |
| 8.2.6.Textiles |
| 8.2.7.Others |
| 8.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9. Europe Octadecanedioic Acid Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 9.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Polyester Polyols |
| 9.1.2.Powder Coatings |
| 9.1.3.Adhesive Additives |
| 9.1.4.Sealants and Elastomers |
| 9.1.5.Resin and Rubber |
| 9.1.6.Cosmetics |
| 9.1.7.Lubricating Oils |
| 9.1.8.Others |
| 9.2. End-user Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Foodservice |
| 9.2.2.Automotive |
| 9.2.3.Pharmaceutical |
| 9.2.4.Medical |
| 9.2.5.Construction |
| 9.2.6.Textiles |
| 9.2.7.Others |
| 9.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 10. Asia Pacific (APAC) Octadecanedioic Acid Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 10.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Polyester Polyols |
| 10.1.2.Powder Coatings |
| 10.1.3.Adhesive Additives |
| 10.1.4.Sealants and Elastomers |
| 10.1.5.Resin and Rubber |
| 10.1.6.Cosmetics |
| 10.1.7.Lubricating Oils |
| 10.1.8.Others |
| 10.2. End-user Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Foodservice |
| 10.2.2.Automotive |
| 10.2.3.Pharmaceutical |
| 10.2.4.Medical |
| 10.2.5.Construction |
| 10.2.6.Textiles |
| 10.2.7.Others |
| 10.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11. Middle East and Africa (MEA) Octadecanedioic Acid Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 11.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Polyester Polyols |
| 11.1.2.Powder Coatings |
| 11.1.3.Adhesive Additives |
| 11.1.4.Sealants and Elastomers |
| 11.1.5.Resin and Rubber |
| 11.1.6.Cosmetics |
| 11.1.7.Lubricating Oils |
| 11.1.8.Others |
| 11.2. End-user Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Foodservice |
| 11.2.2.Automotive |
| 11.2.3.Pharmaceutical |
| 11.2.4.Medical |
| 11.2.5.Construction |
| 11.2.6.Textiles |
| 11.2.7.Others |
| 11.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12. Latin America Octadecanedioic Acid Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 12.1. Application Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Polyester Polyols |
| 12.1.2.Powder Coatings |
| 12.1.3.Adhesive Additives |
| 12.1.4.Sealants and Elastomers |
| 12.1.5.Resin and Rubber |
| 12.1.6.Cosmetics |
| 12.1.7.Lubricating Oils |
| 12.1.8.Others |
| 12.2. End-user Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Foodservice |
| 12.2.2.Automotive |
| 12.2.3.Pharmaceutical |
| 12.2.4.Medical |
| 12.2.5.Construction |
| 12.2.6.Textiles |
| 12.2.7.Others |
| 12.3. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Elevance Renewable Sciences, Inc. |
| 13.2.2.TCI Chemicals (India) Pvt. Ltd. |
| 13.2.3.Hunan HuaTeng Pharmaceutical Co., Ltd. |
| 13.2.4.Nanjing Chemlin Chemical Industry Co., Ltd. |
| 13.2.5.XIAMEN SINOPEG BIOTECH CO., LTD. |
| 13.2.6.BASF SE |
| 13.2.7.Croda International Plc |
| 13.2.8.Cathay Biotech Inc |
| 13.2.9.Huateng Pharma |
| 13.2.10.Key Organics Limited |
| 13.2.11.Oakwood Products Inc. |
| 13.2.12.Toronto Research Chemicals Inc. |
| 13.2.13.Xiamen Sinopeg Biotech Co. Ltd. |
| 13.2.14.Zhejiang Hongxin Dyeing Material Co. Ltd. |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.