A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Octadecanedioic
Acid
Market. The
study, titled “Octadecanedioic
Acid Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2017 - 2025”,
is available for sale on the firm’s website.
Octadecanedioic
acid is a long chain dicarboxylic acid which contains two carbon
components. It is also called C18 diacid. Dicarboxylic acid is formed
by the traditional method of butadiene oxidation. The primary raw
material used in this process consists of petrochemicals. The
volatile prices of petrochemical products coupled with the imbalance
in the supply demand of petrochemicals raw materials has led to the
shift toward biotechnology-based chemicals. The initiative to produce
dicarboxylic acid from the method related to biotechnology
production, primarily metathesis and microbial fermentation is taken
to reduce the dependency on pertrochemicals raw material. The
production of octadecanedioic acid through microbial fermentation, on
a commercial scale, facilitates additional investments and
developments in the biotechnological field. In the biotechnology
method, vegetable oil is used as a raw material. Emission norms in
the automobile and other industrial sectors have played an important
role in the development of biotechnology-based acids.
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The
global octadecanedioic acid market can be classified on the basis of
end-use industry, applications, and region. In terms of end-use
industry, the octadecanedioic acid market can be segmented into
automobile, industrial, medical, construction, food service, and
textiles. The automobile industry is anticipated to expand at a rapid
pace during the forecast period. Additionally, the automobile sector
is a major segment of octadecanedioic acid market, which in turn is
likely to propel the octadecanedioic acid market during the forecast
period. In terms of application, the octadecanedioic acid market can
be segmented into polyester polyols, cosmetics, powder coating, and
lubricant oils. Demand for polyester polyols in the global market
increasesdue to its unique properties such as excellent solvent
resistance, hydrolytic stability, optical clarity, and toughness.
Polyester polyols is widely employed in the automobile, medical,
construction and food services industries. The cosmetics application
segment is projected to expand at significant rate in the next few
years.
In
terms of region, the octadecanedioic acid market can be segmented
into North America, Europe, Asia Pacific, Middle East & Africa,
and Latin America. North America is a major market for
octadecanedioic acid, while the U.S. automobile and other industries
sector increasing rapidly will acquire the octadecanedioic acid
market from North America region in the forecasting year 2025. The
construction and automobile sectors in Asia Pacific are witnessing
increased usage of octadecanedioic acid. The market in Asia Pacific
is estimated to expand significantly during the forecast period.
Japan, China, and India are witnessing an increase in infrastructure
projects, which in turn is estimated to boost the octadecanedioic
acid market.
The
octadecanedioic acid market is highly competitive, with a global
manufacturers of automobile, and industry developers operating across
the globe. Key players operating in the octadecanedioic acid market
include BASF SE, Elevance Renewable Sciences, Inc., Croda
International, Cathay Industrial Biotech, Ltd., and TCI America.
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to view Sample Report:
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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