Oxo Alcohol Market Share 2022 Future Trends And Industry Research Report 2030

 Oxo Alcohol Market Share

The Oxo Alcohol Market was valued at US$ 20 Billion in 2020 and is expected to grow at a CAGR of 9% over the forecast period (2021-2030).

Oxo alcohol​ is extensively used in the production of plasticizers, coatings, adhesives, and other specialty chemicals. Plasticizers are widely used in end-use industries, such as automotive, construction, and electronics. Along with this, their use in coatings, and adhesives has driven the demand for oxo alcohol in the global market. Furthermore, 2-ethyl hexanol is also used as an all-purpose plasticizer for polyvinyl chloride (PVC) and vinyl chloride copolymers. These factors have led to an increase in the market share of the 2-ethyl hexanol segment in the global market and it is expected to show strong growth during the review period.

Based on application, the market has been divided into plasticizers, acrylates, acetates, resins, solvents, glycol ethers, lube oil additives, and others. The plasticizers segment held the largest market share in the oxo alcohol market​ in 2017. This is attributed to the growing use of plasticizers in PVC applications, automotive and construction industries for packaging owing to the high flexibility and durability offered by plasticizers. These factors have fueled the growth of plasticizers in the global oxo alcohol market. Thus, the plasticizers segment is projected to grow at the fastest pace during the review period.

Regional Analysis:

Key Players: DowDuPont (US), BASF SE (Germany), ExxonMobil Corporation (US), Eastman Chemical Company (US), Sasol (South Africa), Grupa Azoty ZAK SA (Poland), Ineos (UK), Formosa Plastics Corporation (Taiwan), and China Petrochemical Corporation (China)

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