Global Oxo Alcohols Market: Key Highlights
Global Oxo Alcohols Market: Key Market Dynamics
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Global Oxo Alcohols Market: Regional Overview
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 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 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 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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