Octadecanedioic Acid Market Outlook On The Basis Of Application ,Region And Forecast To 2024

10/giu/2020 12:26:47 Grand View Research Contatta l'autore

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Octadecanedioic Acid Market

 The octadecanedioic acid (ODDA) market has been observing constant growth across the world owing to its extensive use in the fabrication of polyester polyols, cosmetics, powder coatings, and lubricating oils sector. The preference for organic and ecological products as a strategy to reduce reliance on petrochemical derivatives has played a substantial role in encouraging ODDA market growth.

The European Commission announced an investment of approximately USD 5.04 billion Public Private Partnership (PPP) in July 2013 for promoting bio-based industries and accelerating commercialization of bio-based products. Regulatory framework intended for stimulating the use of organic based products to restrict greenhouse gas (GHG) emissions is projected to increase the demand for bio-based intermediates such as ODDA.

Octadecanedioic acid is used to derive esters and other chemical compounds which are subsequently used in high performance applications including adhesives, lubricants, powder coatings, pharmaceuticals, and others. Increasing demand for octadecanedioic acid employed in the synthesis of nylon, polyamide, and adhesives owing to its high effectiveness is expected to drive market demand over the forecast period.

Access Research Report of Octadecanedioic Acid Market https://www.grandviewresearch.com/industry-analysis/octadecanedioic-acid-odda-market

Asia Pacific is the fastest growing regional market owing to rapid industrialization and mounting consumer demands for cosmetics & personal care products. The North American region is projected to occupy a dominant market share by 2024.

Polyester polyols market holds largest market share and is estimated to grow at the second-highest CAGR over the forecast period. Polyester polyol finds applications in fabricated housings, undercarriages, hoses, and gaskets. C18 dicarboxylic acid is used to make up the soft segment in polyurethanes. Polymers made from octadecanedioic acid are expected to exhibit low dielectric constant, making them suitable for electronic connectors, conformal coatings, capacitors, electrical adhesives, and electrical cabling.

In February 2015, Cathay R&D Center Co., Ltd. and Cathay Industrial Biotech Ltd. published a patent on using Candida sake strain for producing long chain dicarboxylic acids. The invention provides higher yielding strains of Candida to produce long chain dicarboxylic acids. The process is capable of producing undecanedioic acid, dodecanedioic acid, brassylic acid, tetradecanedioic acid, pentadecanedioic acid, hexadecanedioic acid, and octadecanedioic acid.

In October 2015, Elevance Renewable Sciences, Inc. patented its hydrogenated metathesized process of natural oil derivative based thickener components used in grease compositions. The incorporation of hydrogenated metathesized of natural oils and their derivatives as a thickener component in simple and complex greases results in reduced processing times and improved yields. The company produces Inherent C18 diacid range of products and has been continuously increasing its scope of application.

Access Press Release of Octadecanedioic Acid Market @ https://www.grandviewresearch.com/press-release/global-octadecanedioic-acid-odda-market

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