Oxo Alcohols Market
Global Oxo Alcohols Market Size, Share & Trends Analysis Report by Type (N-butanol, 2-ethylhexanol, and Iso-butanol), and by Application (Acrylates, Glycol Ethers, Acetate, Lube Oil Additive, Plasticizers, and Others) Forecast Period (2021-2027) Update Available - Forecast 2024-2030
The global oxo alcohols market is anticipated to grow at a significant CAGR of around 4.0% during the forecast period. Oxo alcohol is a type of alcohol formed by using the hydroformylation reaction to add carbon monoxide and hydrogen to an olefin to yield an aldehyde. The aldehyde is then hydrogenated to produce alcohol. The growing use of oxo alcohols as solvents, adhesives and additives is expected to augment the market demand during the forecast period. Moreover, increased per capita income in developed as well as emerging economies is allowing individuals to live a better life, purchase new homes and cars, purchase high-quality goods, and so on. All of these factors increase demand for goods in almost every sector of the economy. The demand for automobiles raises the production of automobiles, which further lifts the demand for plasticizers and paint by the automotive manufacturers. This will also increase demand for adhesives and coatings used in the automotive industry. The new constructions, which will increase demand for adhesives, coatings, paints, and plasticizers.
Impact of COVID-19 Pandemic on Global Oxo Alcohols Market
The COVID-19 pandemic had disrupted the manufacturing operations of various industries across the globe, which had drastically reduced the demand for oxo alcohols. The various industries halted their manufacturing and operational activities due to the COVID-19 pandemic. Therefore, the demand for oxo alcohols was adversely affected by the COVID-19 pandemic. As the COVID-19 situation normalizes, the oxo alcohol market started recovery as industrial operations were normalized after the recovery.
Segmental Outlook
The global oxo alcohols market is segmented based on the type and application. Based on the type, the market is sub-segmented into n-butanol, 2-ethylhexanol, and iso-butanol. Based on the application, the market is sub-segmented into the acrylates, glycol ethers, acetate, lube oil additive, plasticizers, and others.
Global Oxo Alcohols Market Share by Application, 2020 (%)
The Acetate Segment Holds the Major Share in the Global Oxo Alcohols Market
It is anticipated that the acetate segment will have considerable contribution in the growth of the global oxo alcohols market. Since acetates are highly soluble in water and are commonly found in aqueous solutions, they are prevalently used in the perfume and cosmetics industries. The perfume industry's high demand for acetate is projected to drive segment growth during the forecast period. Acetates derived from higher oxo alcohols, such as isoheptyl and isohexyl, are used as polymerization solvents in the production of acrylic coatings, that is expected to boost the oxo alcohols market acetate segment's growth.
Regional Outlooks
The global oxo alcohols market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Asia-Pacific is poised to supas fastest growth owing to the availability of labors and raw material. Moroevr, the demand for oxo alcohols is high in China due to rapid growth in automotive, paint & coating, and construction sector.
Global Oxo Alcohols Market Growth, by Region 2021-2027
The Europe Region Displayed Notable Growth the Global Oxo Alcohols Market
Europe region displayed the notable growth in the maret in 2020, and it is astimated that the region will have prominent contribution in the growth of global oxo alcohols market. The quality criteria for gasoline fuels and diesels have been outlined in the EU directive 98/70/EC to mitigate environmental and human health repercussions, and European standards have implemented stringent regulations to reduce CO2 emissions of heavy-duty and light-duty vehicles. As a result, the execution of stringent environmental regulations has increased demand for high-quality additives and efficient fuels, which hadboosted the oxo alcohols market in the region. Additionally, the presence of major lubricant manufacturers and OEMs, as well as growing automotive manufacturing will propel the market growth in this region during the forecast period.
Market Players Outlook
The major companies serving the global Oxo Alcohols market include INEOS AG, BASF PETRONAS Chemicals Sdn Bhd, Dow Chemical Co., Eastman Chemical Co., Andhra Petrochemicals Ltd., Bax Chemicals Export Overseas B.V., Evonik Industries AG, Formosa Plastics Corp., Hanwha Solutions Chemical Division Corp., Exxon Mobil Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, BASF PETRONAS Chemicals Sdn Bhd expanded its annual capacity of 2-Ethylhexanoic Acid (2-EHA) production from 30,000 to 60,000 metric tonnes by 2024 to meet growing demand of customers competitively. In addition, it adapts a rising trend in high-quality products combined with production efficiency, which is well assimilated into parent companies' sustainability goals.
The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global oxo alcohols market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Oxo Alcohols Market
• Recovery Scenario of Global Oxo Alcohols Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. INEOS AG
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. BASF PETRONAS Chemicals SdnBhd
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Dow Chemical Co.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Eastman Chemical Co.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Exxon Mobil Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Oxo Alcohols Market by Type
4.1.1. N-butanol
4.1.2. 2-ethylhexanol
4.1.3. Iso-butanol
4.2. Global Oxo Alcohols Market by Application
4.2.1. Acrylates
4.2.2. Glycol Ethers
4.2.3. Acetate
4.2.4. Lube Oil Additive
4.2.5. Plasticizers
4.2.6. Others (Resins, Solvents)
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Andhra Petrochemicals Ltd.
6.2. Bax Chemicals Export Overseas B.V.
6.3. China National Petroleum Corp.
6.4. China Petrochemical Corp.
6.5. Elekeiroz
6.6. Evonik Industries AG
6.7. Formosa Plastics Corp.
6.8. GrupaAzoty S.A.
6.9. Hanwha Solutions Chemical Division Corp.
6.10. IENOS
6.11. LG Chem.
6.12. OQ Chemicals Gmbh
6.13. Perstorp Group
6.14. Sasol Ltd.
6.15. SilicolifeLda
1. GLOBAL OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
2. GLOBAL N-BUTANOL OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL 2-ETHYLHEXANOL OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL ISO-BUTANOL OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
6. GLOBAL OXO ALCOHOLS IN ACRYLATES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL OXO ALCOHOLS IN GLYCOL ETHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL OXO ALCOHOLS IN ACETATEMARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL OXO ALCOHOLS IN LUBE OIL ADDITIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL OXO ALCOHOLS IN PLASTICIZERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL OXO ALCOHOLS IN OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
13. NORTH AMERICAN OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
14. NORTH AMERICAN OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
15. NORTH AMERICAN OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
16. EUROPEAN OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. EUROPEAN OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
18. EUROPEAN OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
19. ASIA-PACIFIC OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
20. ASIA-PACIFIC OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
21. ASIA-PACIFIC OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
22. REST OF THE WORLD OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
23. REST OF THE WORLD OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
24. REST OF THE WORLD OXO ALCOHOLS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL OXO ALCOHOLS MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL OXO ALCOHOLS MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL OXO ALCOHOLS MARKET, 2021-2027 (%)
4. GLOBAL OXO ALCOHOLS MARKET SHARE BY TYPE, 2020 VS 2027 (%)
5. GLOBAL N-BUTANOL OXO ALCOHOLS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL 2-ETHYLHEXANOL OXO ALCOHOLS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL ISO-BUTANOL OXO ALCOHOLS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
8. GLOBAL OXO ALCOHOLS MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
9. GLOBAL OXO ALCOHOLS IN ACRYLATES MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL OXO ALCOHOLS IN GLYCOL ETHERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL OXO ALCOHOLS IN ACETATE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL OXO ALCOHOLS IN LUBE OIL ADDITIVE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL OXO ALCOHOLS IN PLASTICIZERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL OXO ALCOHOLS IN OTHERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
15. GLOBAL OXO ALCOHOLS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
16. US OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
17. CANADA OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
18. UK OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
19. FRANCE OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
20. GERMANY OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
21. ITALY OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
22. SPAIN OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
23. REST OF EUROPE OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
24. INDIA OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
25. CHINA OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
26. JAPAN OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
27. SOUTH KOREA OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
28. REST OF ASIA-PACIFIC OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
29. REST OF THE WORLD OXO ALCOHOLS MARKET SIZE, 2020-2027 ($ MILLION)
