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Global Oxo-Alcohol Market to Grow at a CAGR of 2.5% between 2022-2027

According to a new report by EMR titled, ‘Global Oxo-Alcohol Market Report and Forecast 2022-2027’, the oxo-alcohol market reached 8.2 million tons in 2020. The market is expected to witness a steady growth in the forecast period of 2022-2027, growing at a CAGR of 2.5%. In 2026, the market is projected to attain 9.28 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.

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.

Market Breakup by Types, Forms, Raw Material, and Regions:

  • The types of oxo-alcohol available in the market are 2-Ethylhexanol, n-Butanol, and iso-Butanol, among others.
  • Plasticizer and Ethylhexyl Acrylate, among others are the forms of oxo-alcohol.
  • Propylene and natural gas are the major raw materials used to manufacture the alcohols.
  • Region-wise, the major regional markets are North America, Europe, Asia Pacific, South America, and the 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 EMR report gives an in-depth analysis of the historical (2017-2021) and forecast (2022-2027) 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 (2017-2021) and (2022-2027).
  • 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.

The key players in the global BASF SE, Exxon Mobil Corporation, Eastman Chemical Company, Ineos Oxide Ltd., Grupa Azoty ZAK S.A., 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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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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