OXO ALCOHOLS MARKET TO REACH USD 23 BILLION BY 2027 | CAGR 4.7% – FORENCIS RESEARCH

Oxo Alcohols Market - Global Industry Analysis and Forecast 2020 to 2027

Global Oxo Alcohols Market: Key Highlights

  • According to the new market research report Oxo Alcohols Market by Type (N-Butanol, 2-Ethylhexanol, ISO Butanol), by Application (Acrylates, Glycol Ethers, Acetates, Lubes, Resins, Solvents, Plasticizers), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Oxo Alcohols market is estimated to reach USD 23 Billion` by 2027 at a CAGR of around 4.7% during the review period.
  • Oxo Alcohols are prepared by adding carbon monoxide and hydrogen to an olefin, further, the aldehyde is hydrogenated to obtain alcohol
  • They are produced by the catalytic hydro formulation of propylene with synthesis gas (CO+H2), which produces normal butyraldehyde and iso-butyraldehyde
  • N-butanol, iso-butanol, 2-ethylhexanol, and isononanol are widely used oxo alcohols In various end uses industries.   

Oxo Alcohols Market

Global Oxo Alcohols Market: Key Market Dynamics

  • Oxo alcohol is used as a solvent and reacted with phthalic anhydride to form phthalates, which are further converted into vinyl plasticizers. These plasticizers have widespread applications in automotive, construction, and other end-use industries.
  • The growing use of plasticizers in these end-use industries is expected to drive the global oxo alcohol market
  • However, fluctuating raw material prices such as crude oil and derivatives that are used in the manufacturing of oxo alcohols are also expected to hinder the growth rate of oxo alcohols market

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Global Oxo Alcohols Market: Regional Overview

  • Asia-Pacific

Asia-Pacific is expected to account the largest market share in the oxo alcohols market, owing to the presence of a large number of end-use industries such as paints & coatings, automotive, and construction. China is anticipated to be the largest consumer of oxo alcohols in the Asia-Pacific and is projected to show a similar trend during the forecast period. Countries including Japan, South Korea, and China contribute to more than half of global production.

  • North America

North America is anticipated to have a significant demand for oxo alcohol market, due to the demand for plasticizers is expected to remain high in the U.S. in 2018, the United States Environmental Protection Agency (EPA) approved isobutanol as an additive for blending into gasoline up to 16% in automobile vehicles.

Global Oxo Alcohols Market: Key Players Overview

  • Dow:

Dow is US-based one of the leading material science company that is a combination of science and technology to develop solutions. The company operates through three business segments namely performance materials & coatings, industrial intermediates & infrastructure and packaging & speciality plastics. Its products serve different applications, including coatings, home and personal care, durable goods, adhesives and sealants, and food and speciality packaging. Besides, the Company operates a global commercial and development network that features eight research and development (R&D) centres.  In February 2020, Dow and Johnson Matthey (U.K.) today announced that Guangxi Huayi New Material Company Ltd. (Huayi, China) has selected LP OxoSM SELECTOR 10 Technology to produce butanol at a new manufacturing facility. LP OxoSM SELECTOR 10 Technology, licensed through Dow and Johnson Matthey, enables the efficient production of butanol with low capital investment and operating cost.

  • BASF SE.:

BASF SE is one of the leading chemical company across the globe. The company operates through six business segments including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. The Chemicals segment consists of the Petrochemicals and Intermediates divisions. The Materials segment consists of Performance Materials and Monomers divisions. The Industrial Soutions segment consists of Dispersions & Pigments and Performance Chemicals divisions.

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Rep Id : CM 0133

Published : 2020-08-18

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