IMARC Group

Global Oxo-Alcohol Market Reaching a Volume of more than 8 Million Tons by 2022

Press Release   •   Aug 21, 2017 17:32 IST

A recently published report by IMARC Group titled, “Oxo-Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global oxo-alcohol market reached a volume of more than 7 Million Tons in 2016, growing at a CAGR of around 2% during 2009-2016. Oxo-alcohols are produced by the hydroformylation process, also known as oxo process, in which an alkene is reacted with syngas in the presence of a catalyst. They usually have three to fifteen carbon atoms in their carbon chains. In terms of market size, the three important oxo-alcohols are 2- Ethylhexanol, n-Butanol and iso-Butanol. n-Butanol, with the chemical formula C4H10O, is a clear liquid. It is miscible with almost all common solvents and is used as a feedstock in the synthesis of various industrial chemicals. iso-Butanol is an isomer of Butanol and is used as a solvent and in the synthesis of esters, acetates, plasticizers, etc. 2-Ethylhexanols, with the chemical formula C8H18O, is a clear and neutral liquid, largely used in the production of various lubricants, plasticizers, paints and coatings.

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Highlights of the global oxo- alcohol market:

  • Rising industrialisation, growing manufacturing sector along with the developing market of acrylates represent the driving factors for the market.
  • The global oxo-alcohol market is expected to reach a volume of more than 8 Million Tons by 2022.
  • Asia is the largest producer of 2-Ethylhexanol and n-Butanol, accounting for the majority of the production.

There are several factors that are currently stimulating the growth of this market. The increasing demand for specialty chemicals across various industries is expected to steer the market for oxo chemicals. Additionally, rapid growth in the global packaging, construction, housing, electric and automotive sectors is projected to drive the demand for these chemicals for the manufacturing of plasticizers, adhesives, polymers and other products. Rising industrialisation, growing manufacturing sector along with the developing market of acrylates are some of the other growth inducing factors. However, stringent environmental regulations in regions such as Europe and North America can pose a threat to the market growth. According to the report, the global oxo-alcohol market is further expected to grow, reaching a volume of more than 8 Million Tons by 2022.

On the basis of end-use, plasticizers represent the largest end-use segment for 2-Ethylhexanols, followed by 2-Ethylhexyl Acrylate. For n-Butanol, chemical applications represent the largest end-use segment. Solvent applications represent the largest end-use segment for iso-Butanol. Other major end-use segments for iso-butanol were iso-butyl Acetate and lube oil additives. On the basis of region, Asia represented the largest producer of 2-Ethylhexanol and n-Butanol. Other major regions are North America and Western Europe. The market remains highly competitive due to the presence of a number of established players. Some of the key players are Oxea Group, BASF and Formosa Plastics.

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The report has examined the global Oxo-alcohol market on the basis of:

End-use:

  • 2-Ethylhexanol Market
  • Plasticizers
  • 2-Ethylhexyl Acrylate
  • n-Butanol Market
  • Chemical applications
  • Solvent applications
  • iso-Butanol Market
  • Solvent applications
  • iso-Butyl Acetate
  • Lube Oil additives

Region:

  • Asia
  • North America
  • Western Europe

Key Players:

  • Oxea Group
  • BASF
  • Formosa Plastics

Browse related reports :

Polyisoprene Market @ http://www.imarcgroup.com/polyisoprene-technical-material-market-report

Methanol Market @ http://www.imarcgroup.com/methanol-technical-material-market-report

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