According to a new report by Expert Market Research titled, ‘Global Oxo-Alcohol Market Report and Forecast 2020-2025’, the oxo-alcohol market reached 8 million tons in 2018. The market is expected to witness a steady growth in the forecast period of 2020-2025, growing at a CAGR of 2.7%. In 2025, the market is projected to attain 9.4 million tons.
The Asia Pacific accounts for the largest share in the global oxo-alcohol market. China is the leading producer of oxo-alcohol in the world followed by the US. North America is a mature market for oxo-alcohol. The industry in the region is being driven by the rising per capita consumption of plastic. The diversification of plasticiser applications across various industries is driving the oxo-alcohol market in the region. Plasticisers are the largest application sector for oxo-alcohol, globally. They find the majority of their applications in PVC, to improve the material’s durability and flexibility. The rise in environmental consciousness is leading to a growing demand for non-phthalate plasticisers.
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n-Butanol is preferred over other oxo-alcohol types and accounts for the largest market share. Butanols, overall, have witnessed a healthy growth over the recent years, due to the rising application of its derivative butyl acrylate in water-based coatings. The German chemical company, BASF is the leading producer of oxo alcohols, especially, producing n-butanols. Although the company remained on force majeure for isobutanol (IBA) in Ludwigshafen, Germany in Q1 2019, the supply of n-butanol (NBA) and 2-ethyl hexanol (2-EH) was enough to meet the demand in Europe. In 2017, INEOS Oxide, a key player in the industry, acquired Arkema’s Oxo alcohol business including the company’s stake in Oxochimie, Arkema’s joint venture at Lavéra with INEOS. Oxochimie used to manufacture butanols and 2-ethyl hexanol.
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Market Breakup by Types, Forms, and Regions:
Market Breakup by Types:
The types of oxo-alcohol available in the market are 2-Ethylhexanol, n-Butanol, and iso-Butanol, among others.
Market Breakup by Forms:
- Ethylhexyl Acrylate
Plasticizer and Ethylhexyl Acrylate, among others are the forms of oxo-alcohol.
Market Breakup by Regions:
- North America
- United States of America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
Competitive Landscape & Supplier Analysis:
- BASF SE
- LG Chem Ltd.
- Exxon Mobil Corporation
- Eastman Chemical Company
- Ineos Oxide Ltd.
- Grupa Azoty ZAK S.A.
- The Andhra Petrochemicals Ltd
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