The global Oxo alcohols market is anticipated to grow at a considerable CAGR of 4.0% during the forecast period. Increasing demand for plasticizers will propel the market growth. Plasticizers are used as additives to enhance the product's plasticity or cohesiveness. Most plasticizers are predominantly used to manufacture polyvinyl chloride products, which can be used in a variety of applications such as flooring, PVC films, and wire & cables. Therefore, growing usage of plasticizers will significantly influence the market growth due to their strong foothold in the polymer industry. Plasticizers, when added to polymers, increase viscosity, compressibility, and reduce molecular attraction among polymeric chains, making the polymers more flexible and long - lasting; thus, rising demand for Polyvinyl chloride, versatile wallboard, plasticizer-based concrete, and ester-based plastic materials is expected to drive the Oxo alcohols market growth in the near future.
The manufacturers in the market are inclined towards the adoption of market strategies such as mergers and acquisition, new product launches, business expansion and partnership collaboration to full-fill the demand for oxo chemical in market. For instance, in September 2021, BASF introduced a range of new catalysts to produce isopropyl alcohol (IPA) more efficiently, a crucial ingredient in hand sanitizers, a much-needed consumer product during the Covid-19 pandemic. Additionally, BASF introduced O4-204, a new catalyst for n-butane based maleic anhydride production.
Moreover, in September 2020, Evonik launched new brand identity ELUCARE TD for its oxo alcohol portfolio. With the introduction of the ELUCARE TD brand, the company is become capable in serving high-quality intermediates to produce surfactants, special esters, lubricants, resins and special solvents to end-user verticals.
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Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
· By Type
· By Application
• Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
• Competitive Landscape- INEOS AG, BASF PETRONAS Chemicals Sdn Bhd, Dow Chemical Co., Eastman Chemical Co., Andhra Petrochemicals Ltd., Bax Chemicals Export Overseas B.V., Evonik Industries AG, Formosa Plastics Corp., Hanwha Solutions Chemical Division Corp., Exxon Mobil Corp. and others.
Oxo Alcohols Market Report by Segment
By Type
• N-butanol
• 2-ethylhexanol
• Iso-butanol
By Application
• Acrylates
• Glycol Ethers
• Acetate
• Lube Oil Additive
• Plasticizers
• Others (Resins, Solvents)
A full Report of Oxo Alcohols Market is Available at: https://www.omrglobal.com/industry-reports/oxo-alcohols-market
Oxo Alcohols Market Report by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
· Latin America
· Middle East & Africa
Company Profiles
· Andhra Petrochemicals Ltd.
· Bax Chemicals Export Overseas B.V.
· China National Petroleum Corp.
· China Petrochemical Corp.
· Elekeiroz
· Evonik Industries AG
· Formosa Plastics Corp.
· GrupaAzoty S.A.
· Hanwha Solutions Chemical Division Corp.
· IENOS
· LG Chem.
· OQ Chemicals Gmbh
· Perstorp Group
· Sasol Ltd.
· SilicolifeLda
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