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  • Oxo Alcohols Market Growth Analysis | 2023-2028

    Oxo Alcohols Market Growth Analysis | 2023-2028

    Oxo Alcohols Market Growth Analysis | 2023-2028
    Report code - SR1023 Delivery - 2 Weeks
    Oxo Alcohols Market Size, Share, Trends, Forecast, & Growth Analysis - 2023-2028
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    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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    What are oxo alcohols?

    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.

    Oxo Alcohols Market Report Highlights

    Market Size in 2022

    USD 20.12 billion

    Market Size in 2028

    USD 27.18 billion

    Market Growth (2023-2028)

    5.04% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    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.

    Market Dynamics

    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.

    Oxo-Alcohols-Market-Dynamics

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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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    Critical Questions Answered in the Report

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    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)

    Oxo-Alcohols-Market-Segmentation

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    Research Methodology

    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 10 detailed primary interviews with the market players across the value chain in all four regions and with 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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Oxo Alcohols Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    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.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    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.

    The oxo alcohols market was estimated at USD 20.12 billion in 2022.

    The oxo alcohols market is likely to reach USD 27.18 billion in 2028.

    The oxo alcohols market is likely to grow at a CAGR of 5.04% during 2023-2028.

    Europe is expected to account for the major share of the market during the forecast period.

    BASF Petronas, Bax Chemicals, Eastman Chemical Company, Elekeiroz, Evonik Industries, Exxon Mobil Corporation, LG Chem Ltd., OXEA GmbH, Sasol Ltd., and The Dow Chemical Company are among the key players in the key players in the market.

    2-ethylhexanol is expected to account for the major share in the market during the next five years.

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

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