The North America oxo-alcohol market is expected to exhibit a strong growth during 2020-2025. Oxo alcohols are chemicals produced by reacting olefins with syngas in the presence of a rhodium catalyst. These chemicals generally include Isobutanol (IBA), N-Butanol (NBA), and 2-Ethylhexanol (2-EH), which have wide industrial applications. Oxo alcohols are used as solvents and chemical intermediates in the manufacturing of adhesives, paints and coatings. Besides this, oxo-alcohols are utilized as a key raw material for producing plasticizers, acetates and ether, which serve as important feedstocks for chemical and manufacturing companies.
The North America oxo-alcohol market is being driven by several factors. The rising demand for oxo-alcohols across several sectors, such as air conditioning and refrigeration, consumer goods, and chemical processing, has catalyzed the market growth in the region. Moreover, increasing usage of oxo-alcohols in the production of printing inks, cleaners, resins, solubilizers, polishers, drugs, lube oil additives, and specialty chemicals, further stimulates the demand. Apart from this, these chemicals are also utilized for producing esters, which are employed as key ingredients for fragrant, skincare and haircare products. Besides this, expanding R&D activities for manufacturing new and efficient variants of oxo-alcohols has positively influenced the market growth in the region. Additionally, the growing demand for polyvinyl chloride (PVC), plasticizer-based concrete, ester-based plastics and flexible wallboard is expected to spur the demand for oxo-alcohols in the upcoming years.
IMARC Group’s latest report provides a deep insight into the North America oxo-alcohol market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America oxo-alcohol market in any manner.
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