Oxo-alcohol Market Industry Report 2022-2027: Share, Size, Growth, Opportunity and Forecast

According to the latest report by IMARC Group, titled "Oxo-Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The global oxo-alcohol market size reached US$ 11.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.4 Billion by 2027, exhibiting a growth rate (CAGR) of 9.44% during 2022-2027.

Oxo-alcohols refer to chemicals that are obtained by the reaction of hydrogen and carbon monoxide with an olefin, and hydrogenation of aldehyde. The process takes place in the presence of a rhodium catalyst to produce aldehyde isomers under low-pressure conditions. Some of the most common oxo-alcohols include Isobutanol (IBA), N-Butanol (NBA), and 2-Ethylhexanol (2-EH). They are widely served as solvents and chemical intermediates that are further employed in the manufacturing of paints, coatings and adhesives. They also react with phthalic anhydride that is used to form phthalates commercialized as vinyl plasticizers. Apart from this, they are employed in the production of drugs, ethers, acetates, cleaners, polishers, solubilizers, printing inks and specialty chemicals.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Oxo-Alcohol Market Trends:

The global market is primarily driven by the growing demand for oxo-alcohols from the plasticizers industry. These chemicals are widely used in the manufacturing of polyvinyl chloride (PVC) products, which are further utilized across numerous end use industries due to their enhanced versatility, flexibility and durability. Since PVC products are extensively used as an essential component in the construction industry, increasing construction activities on the global level are therefore creating a positive outlook for the market. The market is further driven by the growing application of these chemicals in the production of esters that form key ingredients in the manufacturing of fragrances, skincare and haircare products. The escalating demand for acrylates from the coatings and packaging industries is acting as another major growth-inducing factor. Moreover, extensive research and development (R&D) activities conducted by manufacturers have led to the launch of efficient and sustainably produced variants of oxo-alcohols, which are expected to provide a thrust to the market growth. For instance, BioPure™ nC4-OL is a bio-based, high purity n-butyl alcohol and a versatile oxo-chemical that is largely used for manufacturing esters. Some of the other factors contributing to the market growth include rapid industrialization, significant growth in the manufacturing sector and the growing popularity of plasticizer-based concrete.

Oxo-Alcohol Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the Oxo-alcohols market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these Key Players Include:

China Petrochemical Corporation
OQ Chemicals GmbH
LG Chem
BASF SE
Eastman Chemical Company
Formosa Plastics Corporation
China National Petroleum Corporation
Sasol LTD.

Key Market Segmentation:

Breakup by Type:

2-Ethylhexanol
n-Butanol
iso-Butanol

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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