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Oxo Alcohols Market is expected to showcase significant growth via acrylate application
Oxo Alcohols Market
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Oxo alcohols market from plasticizers application should grow significantly surpassing USD 9 billion by 2024 due to strong product demand from plastic and polymer industry. Adding plasticizers in polymers increase viscosity, plasticity and reduces molecular attraction between polymeric chains increasing flexibility & durability.
Companies strategize on shifting their production plants towards South East Asia owing to strong demand and low production cost. They also form consortium, partnerships and mergers to expand their production capacity and regional presence.
Company profiled in the oxo alcohols market based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. BASF Petronas
2. Grupa Azoty ZAK S.A.
3. Exxon Mobil Corporation
4. The Dow Chemical Company
5. OXEA GmbH
6. Perstorp Orgnr
7. Sasol
8. Eastman Chemical
9. LG Chem
10. The Andhra Petrochemicals Ltd.
Germany oxo alcohols market should surpass USD 1.2 billion by 2024 owing to strong lubricant demands from growing regional automotive industry. Rising automobile production rates and widespread regional OEM bases should compliment product demand. Stringent emission control regulations should further strengthen regional industry growth.
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China oxo alcohols industry should grow at significant pace due to extensive product demand for coatings & paints and varnishes from construction spending. Low production cost owing to lenient regulatory regimes & low-cost labor should bolster regional industry growth.
Iso-butanol based oxo alcohols market should witness gains at over 3.5% during projected forecast. This growth in demand can be attributed to positive application outlook in manufacturing of household & industrial coatings, adhesives, paints and wood varnishes. Products manufactured offer improved gloss & flow, good adhesion, weatherability and flexibility driving product demand.
Positive growth indicators in plasticizer industry due to strong demand from consumer goods, automotive and construction sector should drive global oxo alcohols market. Growing demand for solvents in formulating printing inks and additives for polish & cleaners also should complement product demand.
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