Oxo-Alcohol Market worth US$ 21.9 Billion by 2028 - Exclusive Report by IMARC Group

How big is the Oxo-Alcohol Market?

The global oxo-alcohol market size reached US$ 12.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.1% during 2023-2028.

𝐇𝐞𝐫𝐞 𝐢𝐬 𝐚𝐧 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐭𝐚𝐥𝐤𝐢𝐧𝐠 𝐚𝐛𝐨𝐮𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐜𝐞𝐧𝐚𝐫𝐢𝐨𝐬 𝐰𝐢𝐭𝐡 𝐚 𝐡𝐢𝐬𝐭𝐨𝐫𝐢𝐜𝐚𝐥 𝐚𝐧𝐝 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝: https://www.imarcgroup.com/oxo-alcohol-technical-material-market-report/requestsample

What are Oxo-alcohol?

Oxo alcohols are versatile organic compounds produced through the hydroformylation of olefins, commonly used as solvents and intermediates in the manufacturing of plasticizers, coatings, and detergents. Notably, these alcohols are characterized by their ability to impart desired properties such as flexibility and stability in end products. The most commonly used oxo alcohols include n-butanol, iso-butanol, and 2-ethylhexanol, each offering distinct advantages like solvent power, volatility control, and reactivity with other chemicals.

What are the growth prospects and trends in the Oxo-alcohol industry?

The burgeoning demand for plasticizers and coatings in various industries, including automotive and construction, is propelling the market for oxo alcohols. Additionally, their utility in the formulation of high-quality resins and lacquers serves as a significant growth driver. Regulatory norms promoting low-VOC (volatile organic compounds) products have also encouraged the development of oxo alcohols that meet environmental guidelines, thus attracting a broader consumer base and contributing to market growth. Manufacturers are continually investing in R&D to produce oxo alcohols with improved characteristics, such as enhanced biodegradability or reduced toxicity, thereby expanding their applicability and market reach.

The trend towards the production of sustainable and bio-based oxo alcohols is further supporting this market expansion. Premium brands offering specialized types of oxo alcohols with high purity are another factor fueling the market. Their diverse range of applications, from the production of synthetic lubricants to their role in cosmetic formulations, makes them an essential industrial chemical. Additionally, their availability through specialized chemical distributors enhances their market reach. The market for oxo alcohols is experiencing robust growth, supported by an array of factors ranging from industrial demand to innovations in product characteristics. The versatility of oxo alcohols in various applications ensures their continued market relevance, accommodating both traditional industrial uses and emerging sustainable technologies.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

2-Ethylhexanol
n-Butanol
iso-Butanol

Breakup by Region:

Asia
North America
Western Europe
Others

Who are the key players operating in the industry?

The report covers the major market players including: 

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

𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐀𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐨𝐫 𝐆𝐞𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=647&flag=C

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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This release was published on openPR.