The global OXO alcohol market size was USD 12.29 Billion in 2022 and is expected to register a steady revenue CAGR of 5.2% during the forecast period, according to latest analysis by Emergen Research. Rising demand for OXO-alcohols in production of adhesives, and paints and coatings and solvents, which find applications in printing inks and as an additive in cleaners and polishes are major factors driving market revenue growth. OXO alcohols are widely used to manufacture a wide range of industrial chemical manufacturing process and manufacturing processes of solvents and surfactants. According to United Nations Industrial Development Organization (UNIDO), global industrial manufacturing increased by 9.4 % in 2021. In addition, rising demand for organic OXO alcohol in the industrial chemical manufacturing industry is also significantly driving market revenue growth. Many automotive Original Equipment Manufacturer (OEM) companies are procuring OXO alcohol in automotive paint processes, which increases quality of paint process. For example, 2M2B is used as solvents and intermediates in production of industrial chemicals such as plasticizers, adhesives, polymer additives, synthetic fibers, and other compounds, . This factor is significantly driving revenue growth of the market. However, high cost of operations and availability of alternatives are hindering market revenue growth. Production of OXO alcohol involves multiple manufacturing steps and purification stages and requires a significant amount of investment to establish the facilities. Furthermore, global fluctuation in prices of petrochemicals is expected to significantly impact revenue growth of the OXO alcohol industry.
The Global OXO Alcohol Market Research Report provides a brief overview inclusive of the competitive landscape and key developments, policies, manufacturing costs, and processes. The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.
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The leading market contenders listed in the report are:
BASF PETRONAS Chemicals Sdn. Bhd., Dow Chemical Company, Evonik Industries AG, Dow Chemical Company, Saudi Basic Industries Corporation, Johnson Matthey Plc, Saudi Arabian Oil Co., ZAK S.A., Tecnon OrbiChem Ltd., Bharat Petroleum Corporation Limited, INEOS Group Holdings S.A, Bluesail Chemical Group, Shell plc., Merck KGaA, Bax Chemicals, Mitsubishi Chemical Corporation, and Shandong Dongming Petrochemical Group Co., Ltd, among others
Key reasons to buy the Global OXO Alcohol Market report:
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The latest report comprehensively studies the global OXO Alcohol market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
Some Key Highlights From the Report
- The 2-Ethylhexanol segment accounted for largest market revenue share in 2022. 2-ethylhexanol is a key chemical component commonly used in various industrial chemical production processes, including coatings, resins, wax, petroleum derivatives, and heavy metal mining. 2- ethylhexanol is a crucial raw material used in production of chemical derivatives such as plasticizers, solvents, and lubricants. In addition, 2-Ethylhexanol can be further processed to create other chemicals, such as 2-EthylHexyl Nitrate (2EHN), which improves cetane number in diesel fuel and DiEthylHexylPhthalate (DEHP), which is employed as a plasticizer.
- The propylene segment accounted for largest revenue share in 2022. OXO alcohols are derivatives of chemicals made from propylene through oxidation process. They are commonly used as raw materials in different sectors such as creation of plasticizers, surfactants, and solvents. Propylene is converted into normal-butyraldehyde and iso-butyraldehyde via hydroformylation, which are further transformed into normal-butanol and iso-butanol by means of hydrogenation process.
- The plasticizer segment accounted for largest revenue share in 2022. OXO alcohols are frequently utilized as raw materials and intermediates in production of various plasticizers, chemicals, and plastics. Propylene, which is a chemical intermediate, is employed in manufacturing of a broad range of consumer and industrial items such as plastics, synthetic rubber, and resins.
- The Asia Pacific market accounted for largest revenue share in 2022 due to rising demand for OXO alcohols in industrial chemical manufacturing. OXO alcohols are used as raw materials for producing various industrial chemical products such as plasticizers, adhesives, polymer additives, synthetic fibers, and other chemicals. Furthermore, establishment of plants by various companies for production and export of OXO alcohols to other regions is also expected to drive revenue growth of the market in this region.
Market Segmentations of the OXO Alcohol Market
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Type Outlook (Revenue, USD Billion; 2019-2032)
- 2-Ethylhexanol
- N-butanol
- Isobutanol
-
Feedstock Outlook (Revenue, USD Billion; 2019-2032)
- Propylene
- Natural Gas
-
Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
Regional Outlook of the OXO Alcohol Market
The global OXO Alcohol market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global OXO Alcohol market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
The research provides answers to the following key questions:
- What will be the growth rate of the OXO Alcohol market for the forecast period, 2020 to 2030? What will be the market size and the share occupied by the prominent vendors by the estimated period?
- What are challenges and threats faced by the prominent vendors operating in the OXO Alcohol market?
- Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?
- What are the past, present and emerging trends likely to influence the growth rate of the OXO Alcohol market for the forecast period, 2022 to 2030?
- What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.