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The size of the oxo alcohol market in 2022 was estimated at $14.23 billion. During the projection period (2023-2030), the oxo alcohol market is expected to expand from its current valuation of USD 14.99 Billion to reach USD 20.21 Billion. This represents a CAGR (compound yearly growth rate) of 6.2%. Increasing demand for plasticizers and solvents has been a major factor propelling the oxo-alcohols market. The growth of the Oxo Alcohols Market can be attributed to the rising demand for plasticizers from end-user industries.
A rhodium catalyst is used in a low-pressure hydroformulation reaction to produce oxo alcohols from olefins. Oxo-alcohols are produced by adding hydrogen to the resulting aldehyde. Olefins like ethylene, propylene, and acetylene can all be utilized as building blocks to create various Oxo-alcohols. Oxo alcohols such as 2-ethylhexanol, isobutanol, and N-butanol are extremely valuable in the business world. By 2020, the volume of the oxo alcohols market is expected to reach around 12,601 KT, expanding at a CAGR of about 4.4%. To make plasticizers, paints, varnishes, and adhesives, as well as to use as additives in lubricants and in chemical production, oxo-alcohols are frequently used as solvents. Acrylics, acetates, chemical intermediates, and plasticizers are some of the most common applications for Oxo alcohols.
It is projected that the global market for Oxo alcohols will continue its rapid expansion over the next five years. Increasing demand in the Asia-Pacific area is the primary factor in the expansion. More than 90.0% of the global market for Oxo alcohols was located in Asia-Pacific in 2014, followed by Europe and North America. From 2015 to 2020, the market for oxo alcohols is expected to develop at a CAGR of 7%, with China being the largest market and the United States coming in second. As a mature market, Europe's consumption growth rate is significantly lower than the average market growth rate. Over 70% of the market for Oxo alcohols is dominated by N-butanol and 2-ethylhexanol. Acrylates are the second largest end-user segment of Oxo alcohols, behind plasticizers.
The Oxo Alcohols Market is predicted to be driven primarily by the ever-demanding plasticizer industry and the rising demand from the solvents sector over the next few years. Air conditioning and refrigeration, transportation, chemical processing, paints, coatings and adhesives, lubricants, and consumer goods are just some of the many areas where oxo alcohols are put to good use.
The increasing focus on reducing expenses, combined with consumer preference and reliance on polymer-based products, could restrain development of the oxo alcohols market. During the forecast period, the primary drivers of the Oxo Alcohols Market are expected to be the end-user industries such as construction, automotive, and others. During the projection period, developing areas will become important markets for oxo alcohols due to the high demand from end-user industries. Oxo alcohols are in high demand across multiple industries, and this trend is expected to continue during the projection period, driving up global demand for the product.
In 2017, the North American oxo alcohol market was the second largest in the world. The product's increasing demand stems from its use as a plasticizer, which has numerous applications in industries such as the car sector, the building and construction business, and the electronics sector. The expansion of the North American market for oxo alcohol has been aided by the region's well-established automotive and construction industries. As a result, in the years to come, the North American market is anticipated to expand at a more rapid rate. The pharmaceutical and agricultural sectors are the largest consumers of oxo alcohol. The expansion of the automobile sector, the primary consumer of oxo alcohol, is also a major contributor to the expansion of the market in this area. The European market is anticipated to expand significantly throughout the forecast period.
Report Coverage
Global Oxo alcohols research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Oxo alcohols report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Oxo alcohols competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Oxo alcohols market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Oxo alcohols market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Oxo alcohols market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF Petronas (Malaysia), Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), ExxonMobil Chemical Company (U.S.), Arkema SA (France), Evonik Industries (Germany), The Andhra Petrochemicals Limited (India), Oxea (U.S.), ZAK S.A. (Poland), Ineos (Switzerland), BAX Chemicals (The Netherlands), Qatar Petroleum (Qater), and LG Chem (South Korea).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Oxo alcohols market based on the below-mentioned segments:
Global Oxo alcohols Market, By Product
N-butanol
2-ethyl hexanol
Isobutanol
Global Oxo alcohols market, By Application
Acrylates
Glycol Ethers
Acetates
Lube Oil Additives
Resins
Solvents
Plasticizers
Global Oxo alcohols market, Regional Analysis
A rhodium catalyst is used in a low-pressure hydroformulation reaction to produce oxo alcohols from olefins. Oxo-alcohols are produced by adding hydrogen to the resulting aldehyde. Olefins like ethylene, propylene, and acetylene can all be utilized as building blocks to create various Oxo-alcohols. Oxo alcohols such as 2-ethylhexanol, isobutanol, and N-butanol are extremely valuable in the business world. By 2020, the volume of the oxo alcohols market is expected to reach around 12,601 KT, expanding at a CAGR of about 4.4%. To make plasticizers, paints, varnishes, and adhesives, as well as to use as additives in lubricants and in chemical production, oxo-alcohols are frequently used as solvents. Acrylics, acetates, chemical intermediates, and plasticizers are some of the most common applications for Oxo alcohols.
It is projected that the global market for Oxo alcohols will continue its rapid expansion over the next five years. Increasing demand in the Asia-Pacific area is the primary factor in the expansion. More than 90.0% of the global market for Oxo alcohols was located in Asia-Pacific in 2014, followed by Europe and North America. From 2015 to 2020, the market for oxo alcohols is expected to develop at a CAGR of 7%, with China being the largest market and the United States coming in second. As a mature market, Europe's consumption growth rate is significantly lower than the average market growth rate. Over 70% of the market for Oxo alcohols is dominated by N-butanol and 2-ethylhexanol. Acrylates are the second largest end-user segment of Oxo alcohols, behind plasticizers.
The Oxo Alcohols Market is predicted to be driven primarily by the ever-demanding plasticizer industry and the rising demand from the solvents sector over the next few years. Air conditioning and refrigeration, transportation, chemical processing, paints, coatings and adhesives, lubricants, and consumer goods are just some of the many areas where oxo alcohols are put to good use.
The increasing focus on reducing expenses, combined with consumer preference and reliance on polymer-based products, could restrain development of the oxo alcohols market. During the forecast period, the primary drivers of the Oxo Alcohols Market are expected to be the end-user industries such as construction, automotive, and others. During the projection period, developing areas will become important markets for oxo alcohols due to the high demand from end-user industries. Oxo alcohols are in high demand across multiple industries, and this trend is expected to continue during the projection period, driving up global demand for the product.
In 2017, the North American oxo alcohol market was the second largest in the world. The product's increasing demand stems from its use as a plasticizer, which has numerous applications in industries such as the car sector, the building and construction business, and the electronics sector. The expansion of the North American market for oxo alcohol has been aided by the region's well-established automotive and construction industries. As a result, in the years to come, the North American market is anticipated to expand at a more rapid rate. The pharmaceutical and agricultural sectors are the largest consumers of oxo alcohol. The expansion of the automobile sector, the primary consumer of oxo alcohol, is also a major contributor to the expansion of the market in this area. The European market is anticipated to expand significantly throughout the forecast period.
Report Coverage
Global Oxo alcohols research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Oxo alcohols report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Oxo alcohols competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Oxo alcohols market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | BASF Petronas (Malaysia), Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), ExxonMobil Chemical Company (U.S.), Arkema SA (France), Evonik Industries (Germany), The Andhra Petrochemicals Limited (India), Oxea (U.S.), ZAK S.A. (Poland), Ineos (Switzerland), BAX Chemicals (The Netherlands), Qatar Petroleum (Qater), and LG Chem (South Korea). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Oxo alcohols Market from 2021 to 2030.
- Market Forecast for Oxo alcohols Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Oxo alcohols competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Oxo alcohols
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Oxo alcohols market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Oxo alcohols market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF Petronas (Malaysia), Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), ExxonMobil Chemical Company (U.S.), Arkema SA (France), Evonik Industries (Germany), The Andhra Petrochemicals Limited (India), Oxea (U.S.), ZAK S.A. (Poland), Ineos (Switzerland), BAX Chemicals (The Netherlands), Qatar Petroleum (Qater), and LG Chem (South Korea).
Primary Target Market
- Market Players of Oxo alcohols
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Oxo alcohols market based on the below-mentioned segments:
Global Oxo alcohols Market, By Product
N-butanol
2-ethyl hexanol
Isobutanol
Global Oxo alcohols market, By Application
Acrylates
Glycol Ethers
Acetates
Lube Oil Additives
Resins
Solvents
Plasticizers
Global Oxo alcohols market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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