Octadecanedioic Acid Market Growth Analysis With Investment Opportunities For 2024-2033
Octadecanedioic Acid Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, July 24, 2024 /EINPresswire.com/ -- The octadecanedioic acid market has experienced robust growth in recent years, expanding from $8.02 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the growing demand for soaps and detergents, increasing use of octadecanedioic acid in rubber processing, rising awareness of environmental concerns and regulations, increasing investments, and increasing demand for automotive products.
Strong Future Growth Anticipated
The octadecanedioic acid market is projected to continue its strong growth, reaching $10.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to the growing demand for eco-friendly solutions, increasing preference for sustainable and eco-friendly products, increasing demand for pharmaceutical products, increasing cosmetics and personal care industry, and rising demand for engineering polymers.
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Growth Driver Of The Octadecanedioic Acid Market
The expanding pharmaceutical sector is expected to propel the growth of the octadecanedioic acid market going forward. The pharmaceutical sector refers to the sector of the economy that is involved in the research, development, production, and distribution of medications and other health-related products. The pharmaceutical sector is increasing due to a combination of factors, including advances in medical research and technology, an aging global population, increased prevalence of chronic diseases, rising healthcare expenditure, and expanding access to healthcare in developing regions. Octadecanedioic acid is used in the pharmaceutical sector for its role in drug delivery systems, enhancing the stability and controlled release of medications while providing biocompatibility for safer and more effective pharmaceutical products.
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Octadecanedioic Acid Market Major Players3 And Market Trends
Key players in the octadecanedioic acid market include BASF SE, Thermo Fisher Scientific Inc., Solvay SA, Arkema S.A., Croda International plc, Cathay Biotech Inc., Shandong Minglang Chemical Co. Ltd.
Octadecanedioic Acid Market Segments2:
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
Geographical Insights: North America Leading The Market
North America was the largest region in the octadecanedioic acid market in 2023. 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.
Octadecanedioic Acid Market Definition
Octadecanedioic acid is a long-chain dicarboxylic acid with the chemical formula C18H34O4. It is used as a monomer in the production of polyamides, polyesters, and other polymers, providing properties such as enhanced durability and flexibility. Additionally, it serves as an intermediate in organic synthesis and specialty chemical manufacturing.
Octadecanedioic Acid Global Market Report 2024 from The Business Research Company1 covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Octadecanedioic Acid Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on octadecanedioic acid market size, octadecanedioic acid market drivers and trends, octadecanedioic acid market major players, octadecanedioic acid competitors' revenues, octadecanedioic acid market positioning, and octadecanedioic acid market growth across geographies. The octadecanedioic acid market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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