Oxo-alcohols are chemicals obtained by the reaction of olefins with syngas in the presence of a rhodium catalyst. Oxo-alcohols have a wide range of applications in a number of industries. They serve as chemical intermediates, solvents and are also used in paints, coatings, adhesives, etc. Oxo-alcohols act as crucial raw materials for the manufacturing of plasticizers, acetates and ethers, which are some of the important feedstocks for the chemical and manufacturing companies. Currently, the oxo-alcohol market is growing at a healthy pace. According to IMARC Group’s recently published report titled “Oxo-Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global oxo-alcohol market reached a value of around US$ 11 Billion in 2020. Several factors such as industrialisation, growing manufacturing sector along with the development of the chemical and polymer industry are influencing the global demand for oxo-alcohols. The report further provides a comprehensive insight into the industry including its market break-up by region, market breakup by end use, value chain analysis, import and export trends, key players and market outlook. The report also gives an insight into the manufacturing process of oxo-alcohols covering key success and risk factors for manufacturers, detailed process flow, the reactions involved, raw materials and their requirements, etc. Looking forward, IMARC Group expects the global oxo-alcohol market to grow at a CAGR of around 5% during 2021-2026.
The report has covered three important oxo-alcohols in terms of market size which include 2- Ethylhexanol, n-Butanol and iso-Butanol. Further, the market for the above mentioned oxo-alcohols have also been individually analysed in this report. Currently, n-Butanol represents the largest segment accounting for the majority of the total global oxo-alcohols production followed by 2- Ethylhexanol and iso-Butanol.
On the basis of end use, plasticizers currently represent the biggest segment for 2-Ethylhexanols accounting for the majority of the total global consumption. Plasticizers are followed by 2-Ethylhexyl Acrylate and others. For the n-Butanol segment, chemical applications represent the biggest end use accounting for the majority of the total global consumption. Chemical applications are followed by solvent and other applications. Furthermore, solvent applications represent the biggest end use for iso-Butanol accounting for nearly half of the global consumption. Solvent applications are followed by iso-Butyl Acetate, Lube Oil additives and others.
The report has also segmented the oxo-alcohols market according to its key regions and finds that Asia currently represents the largest producer of 2-Ethylhexanol accounting for more than half of the total global production capacity. Asia is followed by North America and Western Europe. Asia is also the biggest producer of n-Butanol accounting for nearly 40% of the total global production capacity. Based on the analysis of the global export data, Germany represents the largest exporter of 2-Ethylhexanol followed by the United States of America, Indonesia, Poland, Japan and Singapore. On the other hand, Belgium represents the largest exporter of n-Butanol followed by Taipei Chinese, South Africa, the United States of America, Germany and Malaysia.
The report has also covered the key players operating in the global oxo-alcohol market. The market remains highly competitive due to the existence of big players in the business. The high competition also acts as one of the major constraints for the new entrants and local manufacturers.
Key Questions Answered in This Report:
With the outbreak of the coronavirus disease (COVID-19), the production and supply of oxo-alcohols have been disrupted, which, in turn, is negatively impacting the industry growth.
The global oxo-alcohol market reached a value of around US$ 11 Billion in 2020.
The escalating demand for oxo-alcohols from the plasticizers industry represents one of the primary factors catalyzing the market growth. Besides this, the increasing demand for acrylates from the coatings and packaging industries is also creating a positive impact on the industry.
One of the major market trends is the continuous engagement of manufacturers in research and development (R) activities to launch new and efficient variants.
The global oxo-alcohol market is expected to grow at a CAGR of around 5% during 2021-2026.
Based on the type, the market is categorized into 2-Ethylhexanol, n-Butanol and iso-Butanol. Amongst these, n-Butanol represents the most popular type, holding the largest market share.
Region-wise, Asia exhibits a clear dominance in the market, accounting for the majority of the total market share. Other major regions include North America and Western Europe.
The leading players operating in the industry are China Petrochemical Corporation (Sinopec Group), OQ Chemicals (Oxea Group), LG Corporation, BASF SE, Eastman Chemical Company, Formosa Plastics Corporation, China National Petroleum Corporation (CNPC) and Sasol Limited.
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