Oxo-octyl Acetate Market Price Trend, Competitive Market Share & Forecast, 2016 – 2024

Oxo-Octyl Acetate Market size may grow at an exponential rate over the projected period. The market size is expected to witness a steady gain as it is widely used in cosmetic products such as the sunscreen and skin creams. These products are in the high demand in the cosmetic industry which is facing a rapid growth in the recent years.

Oxo-octyl is an oily, colorless and clear liquid which is formed by the reaction between phenol and ethylene oxide at high temperature and pressure.

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Growth of the cosmetics industry is likely to increase the consumption rate in the oxo-octyl acetate market. Rise in the per capita income, rapid urbanization and rise in the standard of living of people in developing economies of Latin America and Asia Pacific are likely to enhance the spending capacity of people on personal care and cosmetic products.

Oxo-octyl acetate is used in pesticides as a solvent. It exhibits a modest rate of evaporation and has intermediate solubility in water. Due to its smaller amount of toxic properties, it is used at the same time with compounds of ammonium as a substitute for sodium azide.

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Oxo-octyl is itemized as an ingredient for vaccines in Japan, Europe and the United States. Due to rising demand for personal care and cosmetic products in the region of Asia Pacific, oxo-octyl acetate’s rapid growing market can be projected. China and India are expected to be the main consumers in the oxo-octyl acetate market as these countries have an established presence of cosmetic industry. Countries such as Indonesia, Malaysia, Taiwan, Japan and Korea are the other protruding customers of oxo-octyl acetate in the regions of Asia Pacific.

The oxo-octyl acetate market is dominated by many medium and large materials and chemical companies. Some of the major players that are operating in the market include Mitsubishi Chemical Company, Chemsynth Corporation, Hangzhou Uniwise International Co., Ltd, Eastman Chemical Company, BASF, Yingkou Tanyun Chemical Research, Liaoning Kelong Fine Chemical Co., Ltd, Triveni Interchem Private Limited, N V Organics Pvt. Ltd, E. I. du Pont de Nemours and Company, The Dow Chemical Company, Zhejiang Weishi Biotechnology Co. Ltd., and others.

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