Global Octadecanedioic Acid Market – High Demand for Powder Coatings to Boost Growth| Technavio

December 19, 2017

LONDON–(BUSINESS WIRE)–#Chemicals–Technavio's latest market research report on the global
octadecanedioic acid (ODDA) market provides an analysis of
the most important trends expected to impact the market outlook from
2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The demand for ODDA is increasing because of its wide scope of
application, especially in the production of polyester polyols and in
the syntheses of nylon, polyamide, and adhesives. Moreover, the growing
preference for sustainable environment-friendly products, in a bid to
reduce petrochemical dependency, is projected to be a crucial driving
factor for the market during the forecast period.

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The top three emerging market trends driving the global octadecanedioic
acid market according to Technavio research analysts are:

Increasing consumer preference toward organic cosmetics and personal
care products
Increasing usage in powder coating applications
Rising government norms on the use of environment-friendly products

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Increasing consumer preference toward organic cosmetics and personal
care products

The cosmetics application segment is the fastest-growing segment
worldwide. Consumers are shifting preference toward organic products due
to the wide range of health benefits, as opposed to chemically
manufactured products. The increasing demand for natural skin care
ingredients with anti-aging properties is expected to fuel the demand
for ODDA.

In the lubricating oils segment, ODDA is used as a thickener in grease
formulations. Polyamide derived from C18 dicarboxylic acid is used in
metalworking lubricants. Fluctuating prices of petrochemical products,
owing to supply-demand disparities, have made the end-users shift toward
bio-based chemicals.

Increasing usage in powder coating applications

Powder coatings are free-flowing micronized powder particles that are
electrostatically sprayed on metal or conductive surfaces. Powder
coating has major advantages over other types of coating techniques
since it forms a thin film at a relatively low temperature without the
presence of any solvent. The powder coating formed using ODDA is lower
in cost as it is mostly biodegradable in nature. In addition to that,
the products made from ODDA have superior functional properties, such as
water and chemical resistance, when compared to the shorter-chain
chemical alternatives.

According to Mohd Shakeel Iqbal, a lead analyst at Technavio for specialty
chemicals research, "The demand for powder coatings is high in
the US, Germany, and China. It is known to reduce the emission of
harmful chemicals or by-products. The powder coating application of ODDA
generates huge demand from end-user industries such as automotive and
construction."

Rising government norms on the use of environment-friendly products

There has been an increase in the number of government policies and
rules that are advocating the use of environment-friendly materials such
as ODDA. This has led to a surge in demand across various application
industries. Research and developments activities are being envisaged to
market ODDA as an improved bio-based product. Hence, manufacturers are
investing heavily in research and development to boost the quality and
grade of ODDA.

"The demand for ODDA is high in the US, Germany, the UK, and China
due to the presence of strict legislation against the use of toxic and
non-biodegradable chemicals. Thus, the global demand for the product is
likely to grow further during the forecast period. Many government
initiatives are upholding environmental conservation and sustainability
methods which will further boost the market demand for ODDA," says
Shakeel.

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