The global Octadecanedioic Acid Market was valued at USD 6.12 Billion in 2022 and is expected to reach a value of USD 11.25 Billion in 2032 and register a revenue CAGR of 7% during the forecast period.

The market's major growth driver is the expanding demand for nylon in the textile sector. Nylon is a well-liked material since it is strong and durable and is used to make many things, including garments, carpets, and Tire cords. One of the main raw materials used to make nylon is octadecanedioic acid, which is expected to fuel market revenue growth during the forecast period.

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Competitive Landscape:

The global octadecanedioic acid market is highly competitive, with a number of large and medium-sized players accounting for a majority of market revenue. These players are utilizing various strategies such as mergers acquisitions, strategic agreements contracts, and introducing more effective products to gain a competitive edge. The major players in the global octadecanedioic acid market include:

• Cathay Industrial Biotech Ltd.
• Santa Cruz Biotechnology, Inc.
• BASF SE
• Elevance Renewable Sciences, Inc.
• Dupont Tate Lyle Bio Products Company, LLC
• TCI Chemicals (India) Pvt. Ltd.
• Nanjing Chemlin Chemical Co., Ltd.
• Arkema S.A.
• Solvay SA
• Alfa Aesar

 Strategic Development:

• In order to fulfil the rising demand for bio-based chemicals, BASF SE stated in 2021 that it would invest in a new bio-based plant in Germany that would generate 1,4-diaminobutane (DAB) and 1,18-octadecanedioic acid (ODDA). With this investment, BASF hopes to further solidify its position in the market for bio-based chemicals.
• In 2020, Stahl Holdings B.V. and Elevance Renewable Sciences, Inc. established a partnership. to create high-performance coatings using the C18 building blocks, such as octadecanedioic acid, offered by Elevance. The alliance aims to lessen the coatings industry's environmental effect by offering sustainable alternatives.
• Alfa Aesar announced the introduction of a new product line in 2020 as part of its portfolio of bio-based chemicals, which will include octadecanedioic acid. In order to fulfill the rising demand for environmentally friendly chemicals, this launch aims to increase Alfa Aesar's product portfolio in the bio-based chemicals industry.

 Key questions addressed in the report:

• What is the expected market size of the global Octadecanedioic Acid market during the forecast period?
• What CAGR is the global market expected to register during the forecast period?
• Which key factors are expected to boost global market growth between 2021 and 2028?
• What are the key restraints that are expected to hamper global market growth?
• Which regional market is expected to register robust CAGR during the forecast period?
• Which key players are operating the global Octadecanedioic Acid market?

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Octadecanedioic Acid Market Segmentation:

By Product Type Outlook: 

• Powder
• Liquid

By Application Outlook: 

• Polyamide
• Cosmetics
• Lubricants
• Others

 Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)

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