Press release
Global 2-Ethylhexanol Market to Reach $8.5 Billion by 2029, Growing at 8% CAGR
2-Ethylhexanol Market
The advancing auto industry is likely to propel the 2-ethylhexanol market in the future. The auto industry includes businesses engaged in the creation, distribution, retail, and servicing of motor vehicles. 2-ethylhexanol, known for its flexibility, toughness, and longevity, is employed in the production of plasticized PVC (polyvinyl chloride) in cars, thereby escalating its demand. For instance, as per the European Automobile Manufacturers Association, a Belgium-based organization, North America's automotive production stood at 13.596 million vehicles in May 2023. The number shot up to 14.901 million units by 2022, signifying a noticeable 9.6% annual growth in regional automobile production. Consequently, the expanding auto industry is fueling the rise of the 2-ethylhexanol market.
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What Is the projected market size and growth rate for the 2-ethylhexanol market?
The market size of 2-ethylhexanol has seen significant expansion in the recent past. Its growth is projected to escalate from $5.93 billion in 2024 to $6.34 billion in 2025, showing a compound annual growth rate (CAGR) of 6.9%. The surge in growth during the historical period can be accredited to factors such as the production of plasticizers, the coating and paint industry, plastic manufacturing, surfactants and detergents, and chemical intermediates.
The market size for 2-ethylhexanol is projected to experience robust expansion in the upcoming years, reaching $8.54 billion by 2029 at a 7.7% compound annual growth rate (CAGR). The surge during the forecast period is due to factors such as the growing use of cleaning products, the transition towards eco-friendly chemistry, worldwide economic influences, changes in regulations, and an increase in the demand for adhesives. Notable trends expected during the forecast period include the use of high-quality paints and coatings, industrial growth in emerging markets, the application of adhesives and sealants, the use in the automotive sector, and the employment of surfactants in detergents.
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What new trends are reshaping the 2-ethylhexanol market and its opportunities?
In the 2-ethylhexanol market, the primary trend driving popularity is product innovation. The predominant corporations in the 2-ethylhexanol market are concentrating on introducing novel applications of 2-ethyl hexanol to solidify their market standing. For example, in June 2022, Perstorp, a chemical industry based in Sweden, unveiled a 2-ethyl hexanol product mainly utilizing 25% of renewable raw materials, in line with a traceable mass balance approach. This pioneering product grade is the first globally to partially base 2-ethyl hexanol on renewable organic ingredients. It enhances Perstorp's reputation as a provider of sustainable solutions, catering to the increasing demand for more eco-friendly options in various applications.
What major market segments define the scope and growth of the 2-ethylhexanol market?
The 2-ethylhexanol market size has grown strongly in recent years. It will grow from $5.93 billion in 2024 to $6.34 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to plasticizers production, coating and paint industry, plastic production, surfactants and detergents, chemical intermediates.
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Which region dominates the 2-ethylhexanol market?
Asia-Pacific was the largest region in the 2-ethylhexanol market in 2024. The regions covered in the 2-ethylhexanol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the 2-ethylhexanol industry growth?
Major companies operating in the 2-ethylhexanol market are The Dow Chemical Company, BASF SE, Eastman Chemical Company, Saudi Basic Industries Corporation, Grupa Azoty S.A., Mitsubishi Chemical Corporation, LG Chem Ltd., Tianjin Bohua Yongli Chemical Industry Co. Ltd., Henan GP Chemicals Co. Ltd., Mosselman S.A., Oltchim S.A., Sigma-Aldrich Co. LLC, SIBUR International GmbH, Elekeiroz S.A., Shazand Petrochemical Company, The Andhra Petrochemicals Ltd., Azotowe KATMdzierzyn, Formosa Plastic Group, Merck KGaA, Meryer (Shanghai) Chemical Technology Co. Ltd., OQ Chemicals, Sinopec, Shandong Jianlan Chemical, China National Offshore Oil Corporation, INEOS Group, Sasol Limited, ExxonMobil Chemical, Evonik Industries AG, Shell PLC, Mitsui Chemicals Crop & Life Solutions Inc., PJSC SIBUR Holding
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What Is Covered In The 2-Ethylhexanol Global Market Report?
• Market Size Forecast: Examine the 2-ethylhexanol market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the 2-ethylhexanol market for a structured understanding.
• Key Players Overview: Analyze major players in the 2-ethylhexanol market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the 2-ethylhexanol market.
• Segment Contributions: Evaluate how different segments drive overall growth in the 2-ethylhexanol market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the 2-ethylhexanol market.
• Industry Challenges: Identify potential risks and obstacles affecting the 2-ethylhexanol market.
• Competitive Landscape: Review strategic developments in the 2-ethylhexanol market, including expansions, agreements, and new product launches.
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