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Global Octadecanedioic Acid Market Top Key Industry Players: Nanjing Chemlin Chemical Industrial Co., BASF SE, TCI America, Cathay Industrial Biotech Ltd., Croda International Plc., and Elevance Renewable Sciences Inc
Global Market Insights, Inc.
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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.
Global Octadecanedioic Acid Market size by 2024 is expected to substantially rise. The market is expected to grow at a steady and moderate CAGR from the year 2016 to 2024. End user products and high value intermediaries derived by using renewable chemicals in high demand is likely to support the octadecanedioic acid market growth over the impending years.
Disparities in demand and supply caused due to instable prices of the petrochemical products have provoked a shift in the direction of bio-based chemicals. Strict environmental policies in the automotive and industrial sector have played a vital role in the bio-based products development. Growing demand for polyester foams, elastomers and paints in several automotive and industrial applications are the primary factors persuading the global octadecanedioic acid market.
Through this microbial fermentation, production of C18 Dibasic on a commercial scale is expected to facilitate due to additional investments and expansions in the biotechnological field. In the use of biotechnological processes, vegetable oil is used as a raw material.
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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.
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.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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