Discover the dynamic growth of the global oxo alcohol market, driven by rising demand for plasticizers, resins, coatings, and solvents across various industries.
The global Oxo-Alcohols Market was valued at USD 18.19 billion and is projected to reach USD 33.44 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7% throughout the forecast period. The principal drivers behind this growth in market revenue are the increasing demand for plasticizers, resins, coatings, and solvents across various industries such as automotive, construction, and paints & coatings. This surge in demand can be attributed to the rapid expansion of global construction and infrastructure projects, spurred by urbanization and industrialization trends.
Oxo alcohols serve as key raw materials for the production of plasticizers like dioctyl phthalate (DOP) and dioctyl terephthalate (DOTP), which find extensive use in PVC applications within sectors like construction, automotive, and packaging. Particularly in developing countries, PVC applications are gaining popularity due to their durability, affordability, and versatility. This trend is expected to boost the demand for oxo alcohols and contribute to the overall growth of the market’s revenue.
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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 global Oxo-Alcohols market is segmented into:
By Type Outlook:
- N-Butanol
- 2-Ethylhexanol
- Iso-butanol
- Others
By Application Outlook:
- Plasticizers
- Coatings
- Resins
- Solvents
- Others
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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