Oxo Alcohol Market Trends and Forecast 2022-2031

Details of the survey report

https://www.sdki.jp/press-details/oxo-alcohol-market/658

Oxo alcohol is carbon monoxide (CO) and hydrogen (H2), followed by hydrogen as an intermediate aldehyde. It is prepared by chemical conversion. Oxo alcohol is a clear liquid with a mild odor, usually in the C3-C15 range. Oxo alcohol is used in paints, coatings, adhesives, chemicals, textiles, leather and lubricant additives. Oxo alcohol consumption is driven primarily by major end applications such as construction / modification, automotive production and original equipment manufacturer (OEM).

Increasing demand from the pharmaceutical industry and pesticides is driving the growth of the oxo alcohol market. In addition, rapid industrialization, the rise of manufacturing, and the development of the polymer and chemical industries are several factors that are having a positive impact on the global oxo alcohol market. The growth of 2-Eh acrylates and butyl acrylates, as well as the increased use of plasticizers, also contributed to the growth of the oxo alcohol market during the forecast period. The growth of the pharmaceutical industry and the growing demand for high-performance fuels due to strict regulations will further support the growth opportunities of the oxo alcohol market. However, fluctuations in raw material prices and strict environmental regulations can curb the growth of the oxo alcohol market.

With ecological concerns and uncertainties associated with pricing and trade in mind, various chemical manufacturers are working towards designing new business models to achieve sustainable goals. In addition, chemical manufacturers are expanding their product portfolios, investing in the latest applications and innovations accordingly. It is estimated that the main areas of change are focused on changing the energy supply to renewable resources, continuing investment in R & D activities, and reducing CO2 emissions and plastic waste. Companies are also aiming for net zero greenhouse gas emissions by 2050. These factors are driving the demand for experienced professionals and are estimated to create favorable business opportunities not only for existing market players but also for new entrants. Meanwhile, the demand for chemicals for construction, coatings, electronics, cleaners and disinfectants is estimated to continue to grow. China occupies a leading position in the production of chemicals in the world, accounting for about 40% of the world’s chemical sales in 2019. The global chemical industry is witnessing a dramatic shift in the competitive environment as developing countries in Europe, Japan, the United States, and Asia gain a leading position in global chemical sales. Japan’s chemical exports have shown YOY growth of around 30%, surpassing US $ 8.5 billion in April 2021. On the other hand, this underpinned the overall development of overseas shipments, with the United States and China having the highest market shares. These factors are estimated to drive market growth during the forecast period.

Oxo alcohol market segment

The oxo alcohol market is divided by type (2-ethylhexanol, n-butanol, isobutanol, etc.), form (plasticizer, ethylhexyl acrylate, etc.), raw material (propylene, natural gas), and region. increase. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Regional overview of the oxo alcohol market

The oxo alcohol market is further subdivided based on the region, and the market growth of each country is evaluated. These include North America (US, Canada, and other North America), Europe (Germany, France, Italy, Spain, UK, and other Europe), Asia Pacific (China, Japan, India, Australia, Singapore, and others). Asia Pacific) and other regions.

The Asia Pacific region dominates the oxo alcohol market and will continue to dominate during the forecast period. This is due to the increase in automotive and construction activity in the region. China is expected to become the largest consumer of oxo alcohol in the Asia-Pacific region. Meanwhile, the European region is expected to grow during the 2022-2031 forecast period. This is due to the increased use of oxo alcohol in the pharmaceutical and agricultural sectors and the high demand from the region’s automotive industry.

A major key player in the oxo alcohol market

Key players in the oxo alcohol market include BASF SE, LG Chem Ltd., Exxon Mobil Corporation, Eastman Chemical Company, Ineos Oxide Ltd., Grupa Azoty ZAK SA and The Andhra Petrochemicals Ltd. This study includes a detailed competitive analysis of these major companies in the oxo alcohol market, corporate profiles, recent developments, and key market strategies.

Sample URL for the report

https://www.sdki.jp/sample-request-92768

SDKI Inc. Company Profile

SDKI Inc.’s goal is to market scenarios in various countries such as Japan, China, the United States, Canada, the United Kingdom, and Germany. Is to clarify. We also focus on providing reliable research insights to clients around the world, including growth indicators, challenges, trends and competitive environments, through a diverse network of research analysts and consultants. SDKI has gained trust and a customer base in more than 30 countries and is further focused on expanding its foothold in other pristine economies.

–Related Trending Reports:-