OXO Alcohol Market Industry Outlook, Size, Share, Growth Prospects, Key Players Eastman Chemical Company, BASF SE, Exxon Mobil Corporation

Alcohols that are prepared by adding CO coupled with hydrogen to olefin to extract aldehyde with reaction to hydroformulation and further hydrogenating aldehyde are called Oxo Alcohol. This type of alcohol is consumed mostly in solvent form. They are also used in the manufacture of paints, chemical manufacturing, plasticisers, coatings and adhesives and more. In addition, plasticizers and acetates are seen as the Oxo alcohols ' key end user.

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The market for oxo alcohol is experiencing significant growth due to the considerable demand for plasticizers, paints, coatings & adhesives, additives and chemical intermediates. Plasticizers are the largest end-use application of the oxo alcohol industry, and will remain so, driving demand for the oxo alcohol market. Likewise, the demand for oxo alcohol for application in acrylates, acetates, and ethers is going to contribute significantly and is anticipated to grow at a faster CAGR than plasticizers during the forecast years. Consequently, the demand and consumption characteristics of oxo alcohol are mainly influenced by the growth of the polymer, plastic, and chemical industries.

Asia Pacific and North America are pioneering the oxo alcohol market because of the production and consumption of oxo alcohol. Asia-Pacific is the largest market for oxo alcohol and the rise in the production of oxo alcohol by chemical companies for acetate, chemical processing and acrylates is also expected to boost oxo alcohol's market share in the following years. China, followed by India and South Korea, are the key regions driving oxo alcohol demand in the Asia Pacific region.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Eastman Chemical Company
2. BASF SE
3. Exxon Mobil Corporation
4. BAX Chemicals BV
5. Evonik Industries
6. NEOS Group Limited
7. Formosa Plastics Group
8. The Dow Chemical Company
9. China Petroleum & Chemical Corporation

Important Factors Impacting Market Growth:

o Increasing growth in butyl acrylates and 2-eh acrylates
o High demand for OXO alcohols in Asia-Pacific
o Product maturity
o Negative trends for Dioctyl Phthalate (DOP) in Europe and North America
o Stringent regulations driving the demand for high performance fuels
Significant Developments:
o In November 2016, Green Biologics (UK), an industrial biotechnology and renewable chemicals company, began its first commercial shipments from its new bio-based n-butanol (NBA) and acetone plant in Little Falls, Minnesota.
o In June 20176, BASF SE (Germany) started operations at an oxo alcohol unit for 2-EH (2-ethyl hexanol) at the Pasadena site, with a nameplate capacity of 100,000 metric tons per year.

This ensures consistent integration of Palatinol DOTP raw materials.
Insights about the regional distribution of market:
On the basis of the region, the oxo alcohol market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. Traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on are also North America and Western Europe being some of the major markets. Major North American and Western European companies are headquartered in this market. These regions have witnessed a number of transitions by end-use industries in terms of the production of chemicals and their respective applications.

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During the forecast period, the Asia Pacific and the Middle East are expected to record substantial growth in the oxo-alcohol market. This demand is for the growth of major applications like plasticizers, acrylate, acetate, glycol ether, solvents, adhesives, lube oil additives, and others. Major Asia-Pacific countries include China, South Korea, Japan, India, and Australia. With operations by major chemical giants in the region, Eastern Europe is dominated largely by Russia and Turkey. Rest the world that includes South America and Africa has strong oxo-alcohol market potential. Global companies have increasingly made investments in these regions to strengthen their presence and to tap the potential market. Major oxo-alcohol-market economies in these regions include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Market Segmentation:

By Type:
N-Butanol
2-Ethylhexanol
Iso-Butanol

By Application:
Plasticizers
Acrylate
Acetate
Glycol Ether
Solvents
Adhesives
Lube Oil Additives
Others

By Region:

North America
By Country (US, Canada, Mexico)
By Type
By Application

Western Europe
By Country (Germany, UK, France, Spain, Rest of Western Europe)
By Type
By Application

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By Application

Asia Pacific
By Country (China, Japan, India, Rest of Asia Pacific)
By Type
By Application

Middle East
By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
By Type
By Application

Rest of the World
By Region (South America, Africa)
By Type
By Application

Reasons To Buy This Report:

Market size estimation of the global oxo alcohol market on a regional and global basis

Unique research design for market size estimation and forecast

Profiling of major companies operating in the market with key developments

Broad scope to cover all the possible segments helping every stakeholder in the market

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This release was published on openPR.