“Global Oxo Alcohol Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global oxo alcohol market report has been segmented on the basis of product type, application, and region.
Global Oxo Alcohol Market: Overview
Oxo alcohol is prepared by adding synthesis gas (syngas) to olefin in order to obtain an aldehyde using the hydroformylation reaction and further hydrogenating to obtain alcohol. The synthesis gas is a combination of carbon monoxide and hydrogen. Olefins used in the chemical reaction are propylene, acetylene, and ethylene. Oxo alcohols are widely used as solvents, chemical intermediates, and plasticizers in various sectors such as paints, automotive coatings, wood furniture varnish, and others.
Global Oxo Alcohol Market: Dynamics
Increasing demand for 2-ethylhexanol in various applications such as surfactants, acrylates, lube oil additives and others, coupled with rapid industrialization are major factors expected to drive growth of the global oxo alcohol market over the forecast period. In addition, rising demand for plasticizer in manufacturing of coatings and adhesives used in automotive and construction sector is expected to support revenue growth of target market over the forecast period. Furthermore, increasing demand for oxo alcohol especially iso-butanol in pharmaceutical and pesticide industries, are among some other factors expected to propel growth of the potential market over the forecast period.
However, high raw material cost and stringent government regulations for environmental concern, are among the factors which may hinder revenue growth of the target market over the forecast period.
Rising focus on expansion of existing business by manufacturers in order to meet the increasing demand for oxo alcohol from various industries, which is expected to create a lucrative opportunity for growth of the potential market over the forecast period.
Global Oxo Alcohol Market: Segment Analysis
On the basis of product type, the iso-butanol segment is expected to account for significant revenue share in the target market over the forecast period. On the basis of application, the plasticizers segment is expected to account for highest share in terms of revenue and is projected to register rapid growth rate in the target market over the forecast period. This is attributed to the increasing end use industries such as automotive, pharmaceutical, pesticides, and others.
Global Oxo Alcohol Market: Regional Analysis
The oxo alcohol market in Asia Pacific holds major contribution in terms of revenue share and is expected to dominate the target market over the forecast period. Increasing demand for oxo alcohol in various applications such as acrylates, plasticizers, and solvents coupled with major production of 2-Ethylhexanol and n-Butanol in the region, is a factor anticipated to drive growth of the Asia Pacific oxo alcohol market over the forecast period. North America oxo alcohol market is projected to register significant growth in terms of revenue in the target market over the forecast period. Europe oxo alcohol market is expected to account moderate growth rate in the target market over the forecast period, followed by Middle East & Africa. Growing chemical and solvent applications in various end-use industries such as paints and coatings, automotive, cosmetics, and others, which in turn expected to support revenue growth in the target market over the forecast period.
Global Oxo Alcohol Market Segmentation:
Segmentation on the Basis of Product Type:
- Other oxo alcohols (Isobutyraledehyde, Isononyl Alcohol and Isodecyl Alcohol)
Segmentation on the Basis of Application:
- Glycol Ethers
- Others (Varnishes, Lacquers, and Catalysts)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2017 Estimated Year 2018 Forecast Period 2018–2028 Revenue in US$
- BASF SE
- DowDuPont, Inc.
- INEOS Holding Luxembourg SA
- ExxonMobil Chemical Company
- Eastman Chemical Company
- Evonik Industries
- The Andhra Petrochemicals Limited
- OXEA GmbH
- LG Chem
- BAX Chemicals BV
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