According to a new report by Expert Market Research titled, ‘Global Oxo-Alcohol Market Report and Forecast 2020-2025’, the oxo-alcohol market reached 8 million tons in 2018. The market is expected to witness a steady growth in the forecast period of 2020-2025, growing at a CAGR of 2.7%. In 2025, the market is projected to attain 9.4 million tons.
The Asia Pacific accounts for the largest share in the global oxo-alcohol market. China is the leading producer of oxo-alcohol in the world followed by the US. North America is a mature market for oxo-alcohol. The industry in the region is being driven by the rising per capita consumption of plastic. The diversification of plasticiser applications across various industries is driving the oxo-alcohol market in the region. Plasticisers are the largest application sector for oxo-alcohol, globally. They find the majority of their applications in PVC, to improve the material’s durability and flexibility. The rise in environmental consciousness is leading to a growing demand for non-phthalate plasticisers.
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n-Butanol is preferred over other oxo-alcohol types and accounts for the largest market share. Butanols, overall, have witnessed a healthy growth over the recent years, due to the rising application of its derivative butyl acrylate in water-based coatings. The German chemical company, BASF is the leading producer of oxo alcohols, especially, producing n-butanols. Although the company remained on force majeure for isobutanol (IBA) in Ludwigshafen, Germany in Q1 2019, the supply of n-butanol (NBA) and 2-ethyl hexanol (2-EH) was enough to meet the demand in Europe. In 2017, INEOS Oxide, a key player in the industry, acquired Arkema’s Oxo alcohol business including the company’s stake in Oxochimie, Arkema’s joint venture at Lavéra with INEOS. Oxochimie used to manufacture butanols and 2-ethyl hexanol.
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Market Breakup by Types, Forms, and Regions:
Market Breakup by Types:
The types of oxo-alcohol available in the market are 2-Ethylhexanol, n-Butanol, and iso-Butanol, among others.
Market Breakup by Forms:
- Ethylhexyl Acrylate
Plasticizer and Ethylhexyl Acrylate, among others are the forms of oxo-alcohol.
Market Breakup by Regions:
- North America
- Asia Pacific
- South America
- Middle East and Africa
Key Findings of the Report:
- The rising automotive industry in major markets like the US and China is aiding the oxo-alcohol industry.
- The growth of Original Equipment Manufacturer (OEM) is further propelling the market for oxo-alcohols forward.
- The growing number of new construction projects in emerging countries and renovation projects in developed countries is further driving the market.
- The rise in populations and rapid urbanisation across the world is helping the market growth.
Key Offerings of the Report:
- The Expert Market Research report gives an in-depth analysis of the historical (2015-2019) and forecast (2020-2025) markets of oxo-alcohol, according to its types, forms, and raw materials.
- The report provides a detailed insight into the regional markets for the periods (2015-2019) and (2020-2025).
- It assesses the market based on the Porter’s Five Forces model.
- An analysis of the value chain has been offered along with a SWOT analysis.
Competitive Landscape & Supplier Analysis:
- BASF SE
- LG Chem Ltd.
- Exxon Mobil Corporation
- Eastman Chemical Company
- Ineos Oxide Ltd.
- Grupa Azoty ZAK S.A.
- The Andhra Petrochemicals Ltd
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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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