Oxo Alcohols Market Analysis | 2023-2028

Market Insights

The oxo alcohols market was estimated at USD 20.12 billion in 2022 and is likely to grow at a CAGR of 5.04% during 2023-2028 to reach USD 27.18 billion in 2028.

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Market Dynamics

Introduction

Oxo alcohols are prepared by adding carbon monoxide and hydrogen to an olefin to obtain an aldehyde by using the hydroformylation reaction and, after that, hydrogenating the aldehyde to obtain the alcohol, which can be used in manufacturing a wide range of products, including oil surface coatings, polymers, plasticizers, solvents, etc.

Market Drivers

Growing plasticizer demand in the automotive, consumer goods, construction, and packaging industries is one of the major factors fueling the market growth over the forecast period.

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Key Players

Some of the key players in the market are:

• BASF Petronas
• Bax Chemicals
• Eastman Chemical Company
• Elekeiroz
• Evonik Industries
• Exxon Mobil Corporation
• LG Chem Ltd.
• OXEA GmbH
• Sasol Ltd.
• The Dow Chemical Company.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Product Type

The oxo alcohols market is segmented as iso-butanol, n-butanol, 2-ethylhexanol, and others. 2-ethylhexanol is estimated to account for the major share of the market on account of its utilization in downstream applications and the petrochemical industry. On the other hand, iso-butanol is estimated to witness significant growth in the market owing to its attractive features such as good adhesion to the surface, flexibility, enhanced flow, and climatic resistance making it suitable for utilization in the production of paints, industrial & household coatings and adhesives, wood varnishes, accelerating the overall industry growth during the forecast period.

By Application Type

The market is segmented as plasticizers, acrylate, acetate, glycol ether, solvents, adhesives, lube oil additives, and others. Plasticizers are estimated to be the dominating application type in the market during the forecast period on account of their strong scope of application in the polymer industry. On the other hand, lube oil additive is expected to witness significant growth in the market owing to the growing demand for effective lubrication systems in automobiles and machinery.

Regional Insights

Europe is estimated to account for the major share of the market owing to increasing automotive production rates coupled with the presence of some of the key OEMs and lubricant manufacturers in the region. Italy, Germany, and Spain are the major growth engines of the region likely to provide lucrative growth opportunities during the forecast period. On the other hand, Asia-Pacific is estimated to witness significant growth in the market with China being the major country with growing demand for paints & coatings, adhesives & varnishes, etc. fueling the regional market growth over the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects oxo alcohols market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The oxo alcohols market is segmented into the following categories.

By Product Type

• Iso-Butanol
• N-Butanol
• 2-Ethylhexanol
• Others

By Application Type

• Plasticizers
• Acrylate
• Acetate
• Glycol Ether
• Solvents
• Adhesives
• Lube Oil Additive
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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