Octadecanedioic acid is a long chain dicarboxylic acid which contains two carbon components. It is also called C18 diacid. Dicarboxylic acid is formed by the traditional method of butadiene oxidation. The primary raw material used in this process consists of petrochemicals. The volatile prices of petrochemical products coupled with the imbalance in the supply demand of petrochemicals raw materials has led to the shift toward biotechnology-based chemicals. The initiative to produce dicarboxylic acid from the method related to biotechnology production, primarily metathesis and microbial fermentation is taken to reduce the dependency on pertrochemicals raw material. The production of octadecanedioic acid through microbial fermentation, on a commercial scale, facilitates additional investments and developments in the biotechnological field. In the biotechnology method, vegetable oil is used as a raw material. Emission norms in the automobile and other industrial sectors have played an important role in the development of biotechnology-based acids.
The global octadecanedioic acid market can be classified on the basis of end-use industry, applications, and region. In terms of end-use industry, the octadecanedioic acid market can be segmented into automobile, industrial, medical, construction, food service, and textiles. The automobile industry is anticipated to expand at a rapid pace during the forecast period. Additionally, the automobile sector is a major segment of octadecanedioic acid market, which in turn is likely to propel the octadecanedioic acid market during the forecast period. In terms of application, the octadecanedioic acid market can be segmented into polyester polyols, cosmetics, powder coating, and lubricant oils. Demand for polyester polyols in the global market increasesdue to its unique properties such as excellent solvent resistance, hydrolytic stability, optical clarity, and toughness. Polyester polyols is widely employed in the automobile, medical, construction and food services industries. The cosmetics application segment is projected to expand at significant rate in the next few years.
In terms of region, the octadecanedioic acid market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major market for octadecanedioic acid, while the U.S. automobile and other industries sector increasing rapidly will acquire the octadecanedioic acid market from North America region in the forecasting year 2025. The construction and automobile sectors in Asia Pacific are witnessing increased usage of octadecanedioic acid. The market in Asia Pacific is estimated to expand significantly during the forecast period. Japan, China, and India are witnessing an increase in infrastructure projects, which in turn is estimated to boost the octadecanedioic acid market.
The octadecanedioic acid market is highly competitive, with a global manufacturers of automobile, and industry developers operating across the globe. Key players operating in the octadecanedioic acid market include BASF SE, Elevance Renewable Sciences, Inc., Croda International, Cathay Industrial Biotech, Ltd., and TCI America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.