The global oxo alcohol market size was estimated to be US$ 11.3 billion in 2020 and is expected to reach US$ 20 billion by 2031 at a CAGR of 5.3%.
Oxo alcohols are chemical liquids arranged by adding carbon monoxide and hydrogen to an olefin and then, at that point, hydrogenating resulting in formation of an alcohol. They are basically created by the catalytic hydro chemical compounding of propylene with blend gas (CO+H2), which produces typical butyraldehyde and iso-butyraldehyde.
Rhodium catalyst is utilized for hydroformylation, which is dynamic at air pressure and temperature, while cobalt is utilized in high pressure and temperature of synthesis gas to speed up the response. Isobutanol (IBA), N-Butanol (NBA), and 2-Ethylhexanol (2-EH) are significant sorts of oxo alcohols, which are probably going to gain business significance in the coming years in various industries.
Moreover, they are generally utilized across a few industries for the manufacturing of drugs, acetic acid derivations, ethers, coatings, polishers, cleaners, glues, solubilizers, strength synthetic compounds, and printing inks. This is projected to raise deals of oxo alcohol over the speculation period of 2021-2031.
The oxo alcohol market is speculated to observe an ascent in demand owing to the steadily rising necessity noted from a few industries since last few years. Growing car manufacturing along with the presence of significant grease makers and OEMs are propelling the regional marketplace.
Growing demand for plasticizers from a few end-client areas has been an essential part of driving the market during 2021-2031. Oxo alcohols, for example, n-butanol are utilized in various applications like acrylate, acetic acid derivation, glycol ethers, and solvents. 2-ethylhexanol is also utilized in a few strength plasticizers, for example, trimelliates, phosphates, and adipates, where better and high-end execution is required. Asia Pacific is a prominent province in the oxo alcohol market owing to the presence of countless end-use industries.
Oxo Alcohol Market Value Share Analysis, by Geography (2022)
The report titled “Oxo Alcohol Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is the forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Oxo Alcohol Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The Oxo Alcohol market is segmented as type, application, and region. Based on type, the Oxo Alcohol market is segmented into Isobutanol, N-butanol, 2-ethylhexanol, and others. Based on application, the Oxo Alcohol market is segmented into plasticizer, Acrylates, Acetate, resins, solvents, Glycol Ethers, Lube, and others. Based on geography, the Oxo Alcohol Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Oxo Alcohol Market. Further, market share of prominent companies in the Oxo Alcohol Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Oxo Alcohol companies. The Oxo Alcohol Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Oxo Alcohol business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Oxo Alcohol Market.
The key players of the Oxo Alcohol Market are LG Chem, BAX Chemicals, Eastman Chemical Company, Dow Chemical Company, ExxonMobil Chemical Company, BASF Petronas, Andhra Petrochemicals, Qatar Petroleum, Arkema, Evonik Industries, and others.
Global Oxo Alcohol Market Key Segments:
Based on type
By Application
By Region
The global oxo alcohol market is expected to reach US$ 20 billion by 2031.
The global oxo alcohol market is expected to register a CAGR of 5.3% by 2031.
Growing demand for plasticizers from a few end-client areas has been an essential part of driving the market during 2021-2031. Oxo alcohols, for example, n-butanol are utilized in various applications like acrylate, acetic acid derivation, glycol ethers, and solvents. 2-ethylhexanol is also utilized in a few strength plasticizers, for example, trimelliates, phosphates, and adipates, where better and high-end execution is required.
The global oxo alcohol market is segmented on the basis of Types, Application, and Geography.
Major players operating in the global oxo alcohol market include LG Chem, BAX Chemicals, Eastman Chemical Company, Dow Chemical Company, ExxonMobil Chemical Company, BASF Petronas, Andhra Petrochemicals.
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