2-Ethylhexanoic Acid Industry 2024 by Worldwide Market Size, Key Vendors, Growth Rate, Drivers, Volume & Forecast Report
The major trend witnessed in the 2-ethylhexanoic acid market is the increasing capital investments to expand the production of the compound. Since the compound is used in a wide range of applications, companies engaged in its production are working toward strengthening their production capacity through facility expansion or establishment of new plants. The infusion of fresh capital to support product development is resulting in the greater availability of the product in the market.
On the basis of region, the 2-ethylhexanoic acid market has been classified into Europe, North America, Asia-Pacific (APAC), Latin America, and the Middle East and Africa. Among all the regions, APAC held the largest share in the market during the historical period, owing to the large-scale demand for the compound for producing glass and paints used in construction projects. Countries such as China and India are witnessing heavy investments in construction projects. The increasing use of glass and paints is, therefore, fueling the demand for 2-ethylhexanoic acid in the region.
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On the basis of application, the market has been categorized into emollients, synthetic lubricants, polyvinyl butyral (PVB) plasticizers, polyvinyl chloride (PVC) stabilizers, paint dryers, and drugs. PVB plasticizers accounted for the largest share in the market during the historical period, owing to their extensive demand in the glass industry. 2-Ethylhexanoic acid is used in PVB plasticizers (which are further used in glass) to lend higher transparency and shine to the glass. The rising demand for glass from construction projects is expected to further boost the growth of the 2-ethylhexanoic acid market in the coming years.
The major factor driving the growth of the 2-ethylhexanoic acid market is the increasing investments in the construction industry. Globally, huge investments are being made in construction projects, including those pertaining to airports, hotels, and large commercial complexes. The construction of these structures involves the use of glass on a large scale. Since 2-ethylhexanoic-based acid is widely used in the production of glass, the development of new construction projects will continue boosting the demand for the compound in the near future.
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