Oxo Alcohol Market: Demand, Future Trends and Analysis till 2023
Oxo Alcohol Market Report: Leading Companies BASF SE (Germany), DowDuPont (US), BASF SE (Germany), ExxonMobil Corporation (US), BASF SE (Germany), Sasol (South Africa), Grupa Azoty ZAK SA (Poland), Ineos (UK), Formosa Plastics Corporation (Taiwan), and China Petrochemical Corporation (China) are some of the major players in the global oxo alcohol market. Oxo Alcohol Market Report: Industry Details Oxo Alcohol Market Information by Type (n-butanol, iso-butanol, 2-ethylhexanol, and others), Application (Plasticizers, Acrylates, Acetates, Resins, Solvents, Glycol Ethers, Lube Oil Additives), and Region (Asia-Pacific, Europe, and RoW)-Global Forecast to 2023
Oxo alcohol is prepared by the reaction between olefin and syngas to obtain aldehyde, and further, the aldehyde is hydrogenated to obtain alcohol. Commercially, three types of oxo alcohols are used in industries, namely n-butanol, iso-butanol, 2-ethylhexanol, isononanol. They find application in acrylates, acetates, resins, plasticizers, solvents, lube oil additives, glycol ethers, and others. The major players in the oxo alcohol market are focusing on expanding their existing business to meet the growing demand for oxo alcohol and remain among the top players of the market. For instance, in March 2017, INEOS announced the completion of the acquisition of Arkema’s oxo alcohol business. This acquisition led to an expansion in their current business size and strengthened their position in the global market. Oxo alcohol is used as a solvent and reacted with phthalic anhydride to form phthalates, which are further converted into vinyl plasticizers. These plasticizers have widespread applications in automotive, construction, and other end-use industries. Thus, growing use of plasticizers in these end-use industries is expected to drive the global oxo alcohol market. Plasticizers also accounted for the largest and the fastest growing application segment in the global oxo alcohol market in 2017. Oxo Alcohol Market Report: Geographical Analysis The global oxo alcohol market has been analyzed with respect to five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.
•
Asia-Pacific accounted for the largest and the fastest growing market for oxo alcohol in 2017, owing to the rising automobile and construction industries.
•
The North American market is expected to show remarkable growth during the review period, attributing to the growing use of oxo alcohol in various applications, such as resins, plasticizers, and lube oil additives.
•
The European market is projected to showcase remarkable growth during the forecast years.
•
While Latin America and the Middle East & Africa are expected to show moderate and steady growth, respectively, during the forecast period.
Oxo Alcohol Market Report: Application Based on application, the market has been divided into plasticizers, acrylates, acetates, resins, solvents, glycol ethers, lube oil additives, and others. Plasticizers segment held the largest market share in the global oxo alcohol market in 2017. This is attributed to the growing use of plasticizers in PVC applications, automotive and construction industries for packaging owing to the high flexibility and durability offered by plasticizers. These factors have fueled the growth of plasticizers in the global oxo alcohol market. Thus, plasticizers segment is projected to grow at the fastest pace during the review period.
Oxo Alcohol Market Report: Market Segmentation • • •
The Global Oxo Alcohol Market has been segmented on the basis of type, application, and region. Based on type, the global oxo alcohol market has been divided into n-butanol, iso-butanol, 2-ethylhexanol, and others. By application, the global oxo alcohol market has been segmented into acrylates, plasticizers, resins, acetates, solvents, lube oil additives, glycol ethers, and others.