1-Octanol Market - Global Industry Analysis & Growth 2016 - 2024

1-Octanol belongs to the family of alcohols. It is also known as octyl alcohol. It is usually present in colorless liquid state and is insoluble in water. The vapors of 1-octanol are heavier than air. This causes irritation in nose, eyes, and respiratory system if inhaled. In order to increase the shelf life, 1-Octanol is stored in a ventilated cool and dry place in tightly sealed containers protected from heat and light. Its physical characteristics make it useful as wetting and defoaming agent due to its slight viscous nature. 1-Octanol is used in various other applications. It acts as solvent for waxes, protective coatings, and oils. 1-octanol is also used as raw material for the manufacture of plasticizers. Human exposure to this chemical can either be caused through skin contact or inhalation of fumes. Short term exposure can cause irritation to skin, respiratory tract, and eyes. If swallowed in large quantity, it can cause aspiration in the lungs and pneumonitis. 1-octanol is also employed as food preservative in low quantity, so that it does not cause toxicity when consumed by human beings. It is used as synthetic flavoring substance in food, alone or in combination with other flavoring substances. Based on end-use, the market for 1-octanol can be segmented into personal care products, agriculture products, plasticizers, paints & coatings, fuels & fuel additives, and building & construction etc.

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The market for 1-octanol is niche, but is anticipated to witness promising growth during the forecast period owing to its increased usage in end-user industries. Increase in awareness among consumers regarding the therapeutic effect of lotions, creams, and conditioners is primarily driving the personal care market. This, in turn, is augmenting the demand for 1-octanol. The market is also expected to benefit from product innovation and product development of new lotions and creams. Increase in recognition of novel brands and rise in awareness among consumers to use prestige brands instead of common brands are poised to boost the 1-octanol market. The use of 1-octanol as penetration enhancer in transdermal drug delivery in the pharmaceutical industry is estimated to fuel the market during the forecast period. Ability of 1-octanol to permeate skin efficiently and safely without any hazards is the factor driving its demand in the pharmaceutical industry. The fuel & fuel additives segment held promising share of the 1-octanol market in 2015. Its share is projected to increase in the next few years owing to its usage as aluminum rolling lubricant and plastic lubricant, among others.

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Implementation of stringent government regulations, especially in mature markets such as North America and Europe, is the only factor limiting the growth of the global 1-ocatnol market. Overall, drivers of the market are anticipated to outperform the restraining factor. Thus, the 1-octanol market is expected to expand significantly during the forecast period.

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