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The Growing Industry of Oxo Alcohol in The World

Oxo Alcohols finds strong application scope in air conditioning & refrigeration, transportation, chemical processing, paints, coatings & adhesives, lubricants and consumer goods. Consumer inclination and dependency on polymer-based products along with growing emphasis on cost minimization may throttle the Oxo alcohols market growth. 2-Ethylhexanol (2-EH) and n-butanol are majorly consumed type of Oxo-alcohols which should sustain the industry growth during forecast period.

Oxo alcohols are prepared by reacting olefins with syngas under low pressure condition and presence of rhodium catalyst. The resultant aldehyde is hydrogenated to produce final product. These products have wide application outlook in printing inks, drugs, additives in polishers, cleaners, and solubilize in textile industry. These products also act as intermediate in the production of plasticizers and solvents used in polymer, automotive and construction industries.

 

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Growing plasticizers demand in construction and packaging industries along with increasing application scope in solvent formulations for usage in printing inks and additives for cleaners & polish may drive the Oxo alcohols market share. These products are hydrogenated aldehydes manufactured by adding hydrogen and carbon mono oxide to an olefin.

 

The High Demand of Oxo Alcohol in Various Industries:

 

Growing demand for plasticizers from several end-user sectors has been a noteworthy aspect of driving the market. Oxo alcohols such as n-butanol are used in numerous applications such as acrylate, acetate, glycol ethers, and solvents. 2-ethylhexanol is additionally employed in several specialty plasticizers such as trimelliates, phosphates, and adipates, where higher performance is demanded. This ever-demanding plasticizer sector together with increasing demand from the solvents sector will be the foremost drivers in the global market over the forecast period. BASF has the maximum production capacity of Sinopec and n-Butyl alcohol has surfaced as the prominent player in the manufacturing of 2-Ethylhexanol.

 

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The flourishing construction sector is another prominent aspect of fueling the market growth. PVC products form a vital part of the construction sector which, in turn, is compelling the needs for these alcohols. Acrylates manufactured from Oxo alcohols are used as intermediate for packaging, textile, and automotive sectors. Global acrylate segment should exceed over USD 10 billion by 2024 owing to strong application outlook in construction & coatings sector. This growth in demand can be attributed to changing lifestyle, infrastructural developments, increasing disposable incomes, and rise in renovation & refurbishment activities.

 

Market Growth of Oxo Alcohol:

 

The Oxo alcohol market will be witnessing a rise in demand owing to the ever-rising requirement from several industries. Oxo alcohols such as 2-propylheptanol, iso-butanol, isononanol, 2- ethylhexanol, and n-butanol are majorly utilized types of Oxo alcohols and are anticipated to gain commercial importance in the approaching years.

 

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Additionally, they are widely employed across several industries for the production of drugs, acetates, ethers, coatings, polishers, cleaners, adhesives, solubilizes, specialty chemicals, and printing inks. This is projected to escalate sales of Oxo alcohol over the assessment period, 2020-2030. Global oxo alcohols industry share is moderately fragmented with industry participants including LG Chem, Dow Chemical, Evonik, BASF, Eastman Chemical, Andhra Petrochemicals and ExxonMobil.

Industry participants focus on enhancing their production capacity to meet the demand supply gap by exercising mergers, acquisitions, and partnerships. The companies are expanding their manufacturing plants towards South East Asian countries aiming to lower production cost and in order to evade stringent environment protection regulations from Europe and North America.

 

Conclusion:

 

“Oxo Alcohol” is one of the project reports by NPCS which covers all the aspects of business, from analyzing the market, confirming availability of various necessities such as plant & machinery, raw materials to forecasting the financial requirements. The scope of the report includes assessing market potential, negotiating with collaborators, investment decision making.

 

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