Octadecanedioic Acid Industry to Achieve $10.72 Billion Growth by 2029

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How Will the Octadecanedioic Acid Market Grow by 2025 in Terms of Size and Growth?
The market size of octadecanedioic acid has observed consistent escalation over the past years. The value, currently at $8.47 billion as of 2024, is set to reach $8.85 billion in 2025, marking a compound annual growth rate (CAGR) of 4.5%. Factors such as the intensifying demands for soaps and detergents, increased utilization of octadecanedioic acid in the rubber processing industry, the rising consciousness towards environment-based concerns and regulations, augmented investments, and a surge in the demand for automotive items are responsible for the observed growth during the historic phase.

What Are the Estimated Growth Rates for the Octadecanedioic Acid Industry Through 2029?
Anticipations for the market size of octadecanedioic acid suggest consistent growth throughout the upcoming years, reaching an estimated value of $10.72 billion by 2029, with an expected compound annual growth rate (CAGR) of 4.9%. This predicted growth during the forecast period is largely attributed to the surge in demand for green solutions, growing inclination towards sustainable and environmentally conscious goods, a rise in the requirement for pharmaceutical products, an booming cosmetics and personal care sector, and heightened need for engineering polymers. The coming years are likely to witness key trends such as technological advancement, introduction of new products and developments, increased investment activities, and strategic collaborations.

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What Are the Strategic Drivers Boosting Octadecanedioic Acid Market Performance?
The growth of the octadecanedioic acid market is predicted to be fueled by the burgeoning pharmaceutical industry. This sector includes all economic activities related to the investigation, creation, production, and distribution of medication and other health products. The growth in the pharmaceutical sector is triggered by several aspects, such as advancements in medical studies and technology, an aging worldwide population, the increasing occurrence of chronic illnesses, escalations in healthcare spending, and broader access to healthcare in underdeveloped areas. Octadecanedioic acid plays a pivotal role in this sector, being utilized in drug delivery systems to boost the stability and controlled dispensation of drugs, and to offer biocompatibility for safer and more effective pharmaceutical products. For example, in June 2023, the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Brussels-based European trade association that represents the pharmaceutical industry, reported that the total bio-pharmaceutical output in Europe was $384,200 million (€340,000 million) in 2022. This marked an approximate 4.95% growth from $366,267 million (€323,950 million) in 2021. Consequently, the growth of the pharmaceutical industry is spurring the expansion of the octadecanedioic acid market.

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What Are the Segments in the Octadecanedioic Acid Market?
The octadecanedioic acid market covered in this report is segmented -

1) By Product Type: Powder, Liquid
2) By Application: Polyester Polyols, Lubricants and Greases, Powder Coatings, Personal Care Products, Other Applications
3) By End-Use: Automotive, Construction, Textiles, Cosmetics, Other End-Users

Subsegments:
1) By Powder: Fine Powder, Coarse Powder
2) By Liquid: Concentrated Liquid, Diluted Liquid

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Which Companies Lead the Competitive Landscape of the Octadecanedioic Acid Industry?
Major companies operating in the octadecanedioic acid market are BASF SE, Thermo Fisher Scientific Inc., Solvay SA, Arkema S.A., Croda International plc, Cathay Biotech Inc., Shandong Minglang Chemical Co. Ltd., Elevance Renewable Sciences Inc., Unilong Industry Co. Ltd., Shandong Ench Chemical Co. Ltd., TCI Chemicals (India) Pvt. Ltd., OPQ Chemical Co. Ltd., Conscientia Industrial Co. Ltd., Autech Industry Co. Ltd., Key Organics Limited, Gihi Chemicals Co. Ltd., Nanjing Chemlin Chemical Industrial Co. Ltd., Sandoo Pharmaceuticals, Ambeed Inc., Lori Industry Co. Ltd., Refine Chemical Co. Ltd., Zehao Industry Co. Ltd., Shandong Lanhai Industry Co. Ltd., Xingrui Industry Co. Ltd.

Where Are the Key Octadecanedioic Acid Market Opportunities by Region?
North America was the largest region in the octadecanedioic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the octadecanedioic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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