Trusted Business Insights presents the Updated and Latest Study on Oxo Alcohols Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Oxo Alcohols Market
Industry / Sector Trends
Oxo Alcohols Market size was over USD 14.5 billion in 2016 and consumption should exceed 13 million tons by 2024.
U.S. Oxo Alcohols Market Size, By Application, 2016 & 2024 (USD Million)
Growing plasticizers demand in construction and packaging industries along with increasing application scope in solvent formulations for usage in printing inks and additive for cleaners & polish and should drive oxo alcohols market size. These products are hydrogenated aldehyde manufactured by adding hydrogen and carbon mono oxide to an olefin. Increasing plasticizer demand in automotive, consumer goods and construction industries should incur industry growth.
Global plasticizers demand was over 7.5 million tons in 2016 and expects steady gains over the forecast timeframe. Asia Pacific, driven by India and China, accounted for over 40% of the total plasticizers demand in 2016. Plasticizers are used as additive to enhance the fluidity or plasticity of the product. Most of the plasticizers are utilized for primarily used for making polyvinyl chloride (PVC) products which are used in applications which include flooring, wire & cables and PVC films.
Oxo alcohols finds strong application scope in air conditioning & refrigeration, transportation, chemical processing, paints, coatings & adhesives, lubricants and consumer goods. Consumer inclination and dependency on polymer based products along with growing emphasis on cost minimization should throttle industry growth. 2-Ethylhexanol (2-EH) and n-butanol are majorly consumed type of oxo-alcohol which should sustain industry growth during forecast period.
Acrylates are manufactured from oxo alcohols as intermediate for packaging, textile and automotive sectors. Global acrylate market size should exceed over USD 10 billion by 2024 owing to strong application outlook in construction & coatings industry. This growth in demand can be attributed to changing lifestyle, infrastructural developments, increasing disposable income and rise in renovation & refurbishment activities.
Key raw materials used in commercial production include propylene, ethylene and acetylene which acts as an intermediate to the production of solvents, acetates, ether and plasticizers. These raw materials are derived from petrochemical based feedstocks and any fluctuation in crude oil index may impact supply & industry profitability and affect oxo alcohols market price trend.
Market Segmentation, Outlook & Regional Insights: Oxo Alcohols Market
Oxo Alcohols Market, By Application
Plasticizers application market size should exceed USD 9 billion by 2024 owing to strong application scope in polymer industry. Plasticizers when added in polymers increase plasticity, viscosity and decreasing molecular attraction between polymeric chains making it flexible & durable. Growing demand for PVC, plasticizer based concrete, flexible wallboard and ester based plastics should drive industry growth.
Lube oil additive application market size should witness gains at over 3% during forecast timeframe. increasing demand for efficient lubrication system in automobiles and machineries may drive product demand. These product used in lubricants acts as dispersants and synthesis intermediates promoting its use in lubricants thereby contributing towards oxo alcohols industry growth.
Oxo alcohols industry size from solvents application might project significant growth during forecast timeframe. N-butanol in solvent form is used in production of coatings as dehydrating agent to prevent blushing while drying in humid conditions. These solvents are also used in cellulose nitrate lacquers improving flow, gloss and resistance to adverse climatic conditions.
Oxo Alcohols Industry, By Product
2-Ethylhexanol based oxo alcohols market size should witness growth surpass USD 10 billion by 2024 due to its extensive usage in downstream application in production of Di-2-Ethyl Hexyl Phthalate (DEHP) and 2-Ethyl Hexyl Acrylate. These products are widely used in petrochemical industry owing to its lower emission rates & fuel performance enhancements.
Iso-butanol based market size should grow at over 4% during forecast timeframe owing to its positive application outlook in production of paints, wood varnishes, industrial & household coatings and adhesives. These products offer flexibility, good adhesion to surface, improved flow, gloss and climatic resistance complimenting industry growth.
Oxo Alcohols Industry, By Region
Europe oxo alcohols market size led by Germany, Italy and Spain will witness moderate gains at over 3.5% during forecast timeframe. Rise in automotive production rates along with presence of major OEMs and lubricant manufacturers should propel regional industry growth. Strong transportation network spanning over pipelines and marine modes should strengthen regional product demand.
China market size should surpass USD 3.5 billion by 2024 attributing to extensive demand for paints, coatings, adhesives & varnishes in their reinforced regional construction spending and lubricants demand from vehicular sector. Low cost production with lenient government regulations on its usage should drive regional industry growth.
France oxo alcohols industry size should implicate strong gains during forecast timeframe owing to their revamped packaging & textile industry. Growing concern of goods manufacturers towards safe packaging in order to reduce logistic loss during transit should boost packaging material demand thus positively affecting product demand.
Key Players, Recent Developments & Sector Viewpoints: Oxo Alcohols Market
Global oxo alcohols market share is moderately fragmented with industry participants including LG Chem, Dow Chemical, Evonik, BASF, Eastman Chemical, Andhra Petrochemicals and ExxonMobil.
Industry participants focus on enhancing their production capacity to meet the demand supply gap by exercising mergers, acquisitions and partnerships. The companies are expanding their manufacturing plants towards South East Asian countries aiming to lower production cost and in order to evade stringent environment protection regulations from Europe and North America.
Oxo Alcohols Industry Viewpoint
Oxo alcohols are prepared by reacting olefins with syngas under low pressure condition and presence of rhodium catalyst. The resultant aldehyde is hydrogenated to produce final product. These products have wide application outlook in printing inks, drugs, additives in polishers, cleaners and solubilizer in textile industry. These products also act as intermediate in the production of plasticizers and solvents used in polymer, automotive and construction industry.
What are the Key Insights Covered: Exhaustive Oxo Alcohols Market
1. Market size (sales, revenue and growth rate) of Oxo Alcohols industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Oxo Alcohols industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Oxo Alcohols industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Oxo Alcohols industry.
Research Methodology: Oxo Alcohols Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Oxo Alcohols Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
This post was originally published on Downey Magazine