SAN FRANCISCO, March 23, 2017 /PRNewswire/ --
The global octadecanedioic acid (ODDA) market is anticipated to reach USD 9.4 million by 2024, according to a new report by Grand View Research, Inc. Growing demand for renewable chemicals used to derive high value intermediate & end-use products is expected to support market growth over the coming years.
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Traditionally, dibasic or dicarboxylic acids were produced through chemical reactions such as multistep butadiene oxidation which used petrochemical as a raw material. Initiatives undertaken to reduce dependency on petrochemical feedstock led to the development of biotechnological production methods, namely, microbial fermentation and metathesis.
Further expansions & investments in the biotechnological field are anticipated to facilitate commercial scale production of C18 dibasic acid through microbial fermentation. Vegetable oil is used as feedstock while using the biotechnological processes.
Rising ODDA demand from soaps & detergents and organic personal care products is projected to augment market growth over the forecast period. Developing economies such as India, China, South Korea and Japan are slated to emerge as the key end-use markets. Growing application scope in personal care and plastics is expected to augment product demand over the forecast period.
Browse full research report with TOC on "Octadecanedioic Acid (ODDA) Market Analysis By Application (Polyester Polyols, Cosmetics, Powder Coatings, Lubricating Oils), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2014 - 2024" at: http://www.grandviewresearch.com/industry-analysis/octadecanedioic-acid-odda-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the octadecanedioic acid market on the basis of application and region:
Read Our Blog: Octadecanedioic acid - An elementary unit for renewable chemicals
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Grand View Research, Inc
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