The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

• Current Market Size: $8.02 billion in 2023.
• Projected Growth: $8.47 billion in 2024 at a CAGR of 5.6%.
• Historic Growth Drivers:
  • Rising demand for soaps and detergents.
  • Increased use in rubber processing.
  • Growing environmental awareness and regulations.
  • Increased investments in automotive products.

Future Growth Projections

• Expected Market Size: $10.57 billion by 2028.
• Projected CAGR: 5.7%.
• Forecast Growth Drivers:
  • Demand for eco-friendly solutions.
  • Preference for sustainable and eco-friendly products.
  • Growing pharmaceutical and cosmetics sectors.
  • Rising demand for engineering polymers.

View More On The Octadecanedioic Acid Market Report 2024 –
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Key Market Drivers

Expanding Pharmaceutical Sector

• Impact of the Pharmaceutical Sector:
  • Involves research, development, and distribution of medications.
  • Factors Driving Growth: Advances in medical research, aging population, chronic disease prevalence, and rising healthcare expenditure.
• Role of Octadecanedioic Acid:
  • Used in drug delivery systems.
  • Enhances drug stability, controlled release, and biocompatibility.
• Example:
  • In June 2023, the European Federation of Pharmaceutical Industries and Associations reported a 4.95% increase in bio-pharmaceutical production in Europe, reaching $384.2 billion in 2022.

Growth of the Cosmetics Industry

• Impact of the Cosmetics Industry:
  • Includes skincare, haircare, makeup, and personal care products.
  • Growth Factors: Evolving consumer preferences, technological advancements, social media influence, and globalization.
• Benefits of Octadecanedioic Acid:
  • Enhances skin health, hydration, and overall well-being.
• Example:
  • In July 2022, the International Trade Administration projected Canada’s cosmetics industry would grow from $1.24 billion in 2021 to $1.8 billion by 2024.

Major Companies in the Market

• Key Players:
  • 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.
  • Conscientia Industrial Co. Ltd.
  • Refine Chemical Co. Ltd.
  • Zehao Industry Co. Ltd.
  • Shandong Lanhai Industry Co. Ltd.
  • Xingrui Industry Co. Ltd.

Noteworthy Acquisition

• Biosynthetic Technologies LLC Acquires Innoleo LLC:
  • Date: January 2022.
  • Purpose: Expand portfolio and capabilities in sustainable, bio-based ingredients.
  • Impact: Strengthens position in personal care, cosmetics, and lubricants markets.

Market Segmentation

By Product Type

• Powder
• Liquid

By Application

• Polyester Polyols
• Lubricants and Greases
• Powder Coatings
• Personal Care Products
• Other Applications

By End-Use

• Automotive
• Construction
• Textiles
• Cosmetics
• Other End-Users

Regional Insights

• Largest Region in 2023: North America.
• Fastest-Growing Region: Asia-Pacific in the forecast period.

The octadecanedioic acid market is set for continued growth, driven by advancements in pharmaceuticals, rising cosmetics industry demand, and increasing focus on eco-friendly solutions. The industry’s major players are actively investing in innovation and strategic acquisitions to strengthen their market positions and meet evolving consumer needs.

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The Octadecanedioic Acid Global Market Report 2024  provides comprehensive insights on the octadecanedioic acid market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the octadecanedioic acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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