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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.
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 2020, 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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The key players in the global oxo-alcohol market are BASF SE, LG Chem Ltd., Exxon Mobil Corporation, Eastman Chemical Company, Ineos Oxide Ltd., Grupa Azoty ZAK S.A., and The Andhra Petrochemicals Ltd, among others. The report by EMR covers their capacity, market share, and latest developments like plant turnarounds, expansions of capacity, and mergers and acquisitions.
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