Global Oxo alcohols Market Analysis

Global Oxo alcohols Market Analysis

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The oxo alcohols market share from 2-Ethylhexanol product will exceed USD 12.5 billion by 2027. 2-Ethylhexanol is a colorless liquid that is low in terms of solubility in water but is highly soluble in most of the organic solvents. It is highly used in downstream applications such as in production of 2-Ethyl Hexyl Acrylate and Di-2-Ethyl Hexyl Phthalate (DEHP). These products help to lower the emission rates as well as increase the fuel performance due to which they are highly used in the petrochemical industry; thus, owing to rising consumption in the petrochemical industry, 2-Ethylhexanol product is expected to propel over the forecast period.
 

 

Oxo alcohols market from plasticizers application will surpass USD 10.5 billion by 2027. Plasticizers are treated as additives to increase the plasticity or fluidity of the product. Most of the plasticizers are primarily used to produce Polyvinyl Chloride (PVC) products that are used in various applications such as flooring, PVC films, and wire & cables; thus, plasticizers are dominating the market owing to their strong foot hold in the polymer industry.
 

Plasticizers when included in polymers increase the viscosity, plasticity, and decrease the molecular attraction between polymeric chains, making the polymers more flexible as well as durable; thus, the rising demand for PVC, flexible wallboard, plasticizer-based concrete, and ester-based plastics is anticipated to accelerate the oxo alcohols market value over the foreseeable timeframe.
 

Lube oil additive application is expected to witness growth at over 3.5% during the forecast period. The rising demand for efficient lubrication systems from machinery and automobiles is expected to propel the market growth. These products act as dispersants and synthesis intermediates, increasing their demand in lubricants and propelling the oxo alcohols market.
 

 

The Asia Pacific is poised to surpass USD 11 billion by the end of 2027 due to the high availability of low-cost labor as well as raw materials. The region also has less strict regulations compared to North America and Europe, propelling the market growth. Oxo alcohols demand in China is very high owing to large-scale industrialization. China also has an extensive demand for coatings, paints, adhesives & varnishes as well as reinforced regional construction spending. It also has a growing automobile sector that consumes a high level of lubricants. These factors along with low-cost production with relaxed government regulations are expected to boost the oxo alcohols market growth during the forecast period.
 

India and Malaysia are the major growth markets in this region owing to rapid industrialization. Increasing foreign investments and supporting government initiatives are helping these countries to propel the market during the foreseeable timeframe.