Market Size of Octadecanedioic Acid (ODDA) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Octadecanedioic Acid Market Analysis
The market for Octadecanedioic Acid (ODDA) is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are increasing demand of octadecanedioic acid for synthesis of polymers and rising demand from cosmetics segment. On the flipside, high cost of the product and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
- Growing trend for sustainable and environment friendly products to reduce the dependency on petrochemical products is expected to offer various lucrative opportunities for the growth of market.
- By application, polyester polyols segment is expected to dominate the market owing to the increase in the usage of octadecanedioic acid as an intermediate for manufacturing various types of polymers.
- Asia-Pacific region dominated the octadecanedioic acid market across the globe with the largest consumption from countries such as China and India.
