The global Oxo-Alcohols Market size was valued at USD 18.19 billion in 2022 and is expected to reach a value of USD 33.44 billion in 2032 and register a revenue CAGR of 7% during the forecast period. Growing demand for Plasticizers, resins, coatings, and Solvents in a variety of industries, including the automotive, building, and paints coatings, are the main factors driving the market revenue growth. Global construction and infrastructure development activities have increased sharply as a result of the growing urbanisation and industrialization that is driving the rise in these end-use industries.
In order to make plasticizers like dioctyl phthalate (DOP) and dioctyl terephthalate (DOTP), which are extensively utilized in PVC applications in the construction, automotive, and packaging industries, oxy alcohols are primarily employed as raw materials. PVC uses are becoming more popular, especially in developing nations where they are durable, affordable, and versatile. This pattern is expected to drive oxo alcohol demand and support market revenue growth.
Technological advancements and innovations in production processes are also expected to contribute to the growth of the oxo-alcohols market. In addition, the growth of the downstream industries, such as the plastic and paint industries, is expected to create new opportunities for the oxo-alcohols market.
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Top Companies: Dow Chemical Company, Arkema, Eastman Chemical Company, Qatar Petroleum, BASF, ExxonMobil Chemical Company, LG Chem, Mitsubishi Chemical Corporation, and PETRONAS, among others.
Further Key Finding from the Report Suggestion:
- By product type, 2-ethylhexanol contributed to the largest market share in 2018. 2-Ethylhexanol is commonly used as feedstock for end-use applications, including di-2-Ethyl Hexyl Phthalate (DEHP), plasticizers, and 2-Ethyl Hexyl Acrylate. In these downstream applications, it is significantly used in several high-performance characteristics like flexibility, lower emissions, good adhesion, and fuel performance enhancement.
- By application, plasticizers held a considerable market share in 2018 and is likely to grow at a rate of 5.1% in the forecast period. Plasticizers finds widespread application in industries such as construction and plastics.
- By distribution channels, offline channels contributed to a larger market share in 2018.
- The market in the Asia Pacific region contributed to the largest market share in 2018 and is estimated to grow at the fastest rate of 5.8% in the period 2019-2027. The market dominance of the Asia Pacific region is owing to increasing demand from the emerging economies including, India and China, and a rise in the level of disposable income in the region.
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The global Oxo-Alcohols market is segmented into:
Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- n-Butanol
- iso-Butanol
- 2-Ethylhexanol
- Others
Applications Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Plasticizer
- Acetate
- Acrylates
- Solvents
- Glycol Ethers
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Online
- Offline
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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