The Oxo-Alcohols is expected to grow from The Global Oxo-Alcohols Market is projected to grow at a CAGR of 5.2% from USD 14.50 billion
It is common to practice to use ethylene glycol ethers as solvents for resins, paints, lacquers, varnishes, inks, and dyes as well as ingredients in cleaning agents, painting pastes, cosmetics, liquid soaps, and hydraulic fluids.
Phthalates, 2-butanol, 1-butanol, tert-butanol, acrylonitrile, butyl acetate, and isobutyl acetate are just a few of the compounds that are widely used in this industry. One of the key elements promoting the market’s expansion is the soaring need for plasticizers. The use of plasticizers, or water reducers, lowers the overall water-to-cement ratio in building projects and gives the cement a more fluid consistency without the need for water dilution. Concrete can maintain its malleability until an application by adding these chemicals to the mortar during the mixing process.
IMPORTANT PERKS FOR STAKEHOLDERS:
- The market research report offers comprehensive information on the key factors that will influence the industry’s growth over the forecast period, including opportunities and restrictions.
- A deeper dive into the study produces data volume by components, end users, and demography.
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- Further research should consider the major market participants and what they are doing differently.
Companies considered and profiled in this market study
Dow Chemical Company, Arkema, Eastman Chemical Company, Qatar Petroleum, BASF, ExxonMobil Chemical Company, LG Chem, Mitsubishi Chemical Corporation, and PETRONAS, among others.
Product Type Outlook:
By product type, iso-butanol contributed to the second largest market share in 2018 and is expected to grow at a rate of 5.5% in the forecast period. A significant portion of isobutanol produced is converted into derivate for usage as a solvent in the coatings industry. It is appropriate for acid-curable lacquers and baking finishes. 2-ethyl hexanol contributed 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.
Oxo Alcohols are made by hydroformylation of an olefin with CO and hydrogen to extract the aldehyde. The aldehyde is then further hydrogenated. Additionally, this particular sort of alcohol is typically used as a cleaner. In addition to this, they are employed in the manufacture of paints, chemicals, plasticizers, coatings, adhesives, and other products. Additionally, plasticizers and acetates are regarded as the primary Oxo alcohol end users.
An important factor in the market’s growth has been the increase in butyl acrylates and 2-eh acrylates. Additionally, the Asia Pacific region is experiencing an increase in demand for Oxo alcohol. However, the market expansion has been limited by the quickly maturing product development process. DOP’s unfavorable tendencies in areas like North America and Europe have also interfered
Product Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Applications Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Glycol Ethers
Offline Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- THE US
- Canada & Mexico
- the UK
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Rest of the World
- South America
- Middle East & Africa