Dec 19, 2017   SOURCE: BusinessWire

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

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.

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Technavio has published a new market research report on the global octadecanedioic acid market 2017- ...

Technavio has published a new market research report on the global octadecanedioic acid market 2017-2021 under their chemicals and materials library. (Graphic: Business Wire)

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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