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Oxo Alcohols Market - By Product, By Application Analysis, Share, Growth Forecast, 2025 - 2034

  • Report ID: GMI2224
  • Published Date: Nov 2024
  • Report Format: PDF

Oxo Alcohols Market Size

The global oxo alcohols market was valued at USD 21.5 billion in 2024 and is estimated to grow at a CAGR of over 5.3% CAGR from 2025 to 2034. Due to increasing demand for acrylate to produce acrylate polymers. Increasing demand for plasticizers in various industries, such as automotive, construction, and consumer goods, is creating favorable conditions for the market. Oxo alcohol is a type of alcohol that is produced by adding carbon monoxide along with hydrogen to an olefin to produce an aldehyde by using the hydroformylation reaction.
 

Oxo Alcohols Market

After this, the aldehyde is hydrogenated to obtain the alcohol. Increasing demand for plasticizers in packaging and construction industries coupled with expanding application scope in various solvent formulations is expected to propel the oxo alcohols market. Solvent formulations are used in printing inks and as additives in polishes & cleaners. These products are hydrogenated aldehydes that are manufactured by addition of carbon mono oxide and hydrogen to an olefin.
 

The oxo alcohols market is experiencing significant growth due to the rising demand for consumer products and personal care items, which often incorporate these chemicals in formulations for their desirable properties. As consumer preferences shift toward high-quality, effective products, the need for oxo alcohols, such as 2-Ethylhexanol and butanol, is increasing, driven by their applications in cosmetics, detergents, and cleaning products.
 

Additionally, the expansion of the automotive and construction industries is propelling the demand for oxo alcohols, which are vital in producing solvents, plasticizers, and coatings used in various applications, including paints and adhesives. The ongoing emphasis on sustainable and eco-friendly production practices is also influencing the market, as manufacturers seek to adopt greener alternatives and reduce their environmental footprint. This focus aligns with regulatory trends aimed at minimizing hazardous substances, further enhancing the market prospects for oxo alcohols.
 

Oxo Alcohols Market Trends

The market is experiencing trends in manufacturing efficiency and technological advancements that are shaping its future. Innovations in production processes, such as the development of more efficient catalytic systems and improved reactor designs, are driving cost reductions and enhancing yield. Automation and digitalization are also playing a crucial role, optimizing operations and minimizing waste throughout the production cycle.
 

Moreover, advancements in feedstock sourcing, including the use of renewable materials, are gaining traction as manufacturers strive to align with sustainability goals. These changes not only enhance the economic viability of oxo alcohol production but also address growing environmental concerns. Overall, the focus on improving manufacturing processes and adopting cutting-edge technologies is expected to propel growth in the market while meeting the increasing demand for high-quality, eco-friendly products.
 

Oxo Alcohols Market Analysis

Global Oxo Alcohols Market Size, By Product, 2021 - 2034 (USD Billion)

The 2-ethylhexanol product segment will capture USD 17.6 billion and demonstrate a 5.5% CAGR by 2034. In the market, product trends are driven by the diverse applications and growing demand for specific alcohol types. N-butanol remains a key product due to its extensive use in the production of plastics, coatings, and solvents, reflecting a steady demand in industrial applications. The rise in automotive and construction sectors is boosting the consumption of 2-ethylhexanol, primarily used in plasticizers and lubricants, aligning with market trends favoring durable materials. Iso-butanol is also gaining traction, particularly in the manufacture of specialty chemicals and as a solvent, due to its advantageous properties.
 

Additionally, the "others" category, which includes various niche alcohols, is seeing increased interest driven by innovations and customization in chemical formulations. As manufacturers focus on meeting specific market needs and sustainability goals, the market is expected to continue evolving with a diverse product portfolio tailored to emerging industry trends.
 

Global Oxo Alcohols Market Revenue Share, By Application, (2024)

The plasticizers application segment held a 41.5% market share in 2024, amounting to USD 8.4 billion and is projected to grow at a 5.6% CAGR from 2025 to 2034. In the oxo alcohols market, application trends highlight the increasing demand for plasticizers, which are essential for enhancing the flexibility and durability of polymers. This is particularly relevant in the construction and automotive sectors, where high-performance materials are critical. The acrylate application is also expanding, driven by its use in coatings and adhesives, which are favored for their strong adhesion and weather resistance.
 

Acetates are gaining traction due to their effectiveness as solvents in various industries, including pharmaceuticals and cosmetics. Glycol ethers continue to be popular, particularly in cleaning products and personal care items, reflecting the consumer shift towards multifunctional formulations. The lube oil additive segment is experiencing growth as industries seek improved performance and efficiency in lubrication. Overall, the diverse applications of oxo alcohols are shaping the market, with manufacturers focusing on innovations that cater to specific industry needs and sustainability initiatives.
 

U.S. Oxo Alcohols Market Size, 2021 - 2034 (USD Billion)

The U.S. oxo alcohols market is projected to achieve USD 6.8 billion, with a CAGR of 4.8% from 2025 to 2034. The U.S. oxo alcohols industry is witnessing significant growth driven by increasing demand across various applications, including automotive, construction, and consumer goods. Technological advancements in production processes are enhancing manufacturing efficiency, enabling the production of higher quality and more sustainable oxo alcohols. The growing focus on eco-friendly products is leading to a rise in the adoption of bio-based oxo alcohols, aligning with consumer preferences for sustainable options.
 

Additionally, regulatory pressures are encouraging manufacturers to develop lower-VOC (volatile organic compound) solutions, promoting safer alternatives in applications like adhesives and coatings. The automotive sector is particularly influential, as the demand for lightweight materials and high-performance coatings continues to rise. As industries emphasize durability and performance, the U.S. market is poised for robust expansion, driven by innovation and a commitment to sustainability across various sectors.
 

Oxo Alcohols Market Share

Global Oxo Alcohols Market Share Analysis, (2024)

Companies include, LG Chem is a key player in the oxo alcohols industry, focusing on the production of high-quality n-butanol and 2-ethylhexanol, which are essential for various applications, including coatings and plastics. Grupa Azoty ZAK S.A. has established a strong presence in Europe, providing a wide range of oxo alcohols that cater to the growing demand in the automotive and construction sectors. The Dow Chemical Company leverages its extensive research and development capabilities to innovate in the production of oxo alcohols, enhancing their properties for use in solvents and adhesives.
 

OXEA GmbH specializes in producing oxo alcohols with a focus on sustainable practices, offering eco-friendly alternatives and expanding their portfolio to meet market needs. Evonik Industries is recognized for its advanced chemical solutions, contributing significantly to the development of specialty oxo alcohols used in high-performance applications, further solidifying their position in the global market.
 

Oxo Alcohols Market Companies

Major players operating in the oxo alcohols industry are:

  • Andhra Petrochemicals
  • BASF
  • Bax Chemicals
  • Eastman Chemical
  • Elekeiroz
  • Evonik Industries
  • Exxon Mobil Corporation
  • Grupa Azoty ZAK S.A.
  • Hanwha Chemical Corporation
  • LG Chem
     

Oxo Alcohols Industry News

August 2024: BASF has signed a Memorandum of Understanding with UPC Technology Corporation to enhance their collaboration on plasticizer alcohols and catalysts for phthalic anhydride and maleic anhydride. BASF will supply 2-Ethylhexanol and N-Butanol from its Zhanjiang Verbund Site. The collaboration between BASF and UPC is expected to enhance the supply chain for key oxo alcohols, such as 2-Ethylhexanol and N-Butanol, thus supporting increased production capabilities.
 

June 2024: Technip Energies and Mitsubishi Chemical Corporation have announced the licensing of an improved OXO alcohol technology called ‘OXO M-Process,’ aimed at reducing capital and operating expenses in the production of OXO alcohols. The improved OXO M-Process technology enhances production efficiency and reduces costs, making OXO alcohols more economically viable for manufacturers. This advancement is expected to drive increased demand for OXO alcohols across various applications, fueling overall market growth.
 

This oxo alcohols market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) & volume (Kilo Tons) from 2021 to 2034, for the following segments:

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Market, By Product

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

Market, By Application

  • Plasticizers
  • Acrylate
  • Acetate
  • Glycol ether
  • Solvents
  • Adhesives
  • Lube oil additive
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE

 

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global oxo alcohols industry was valued at USD 21.5 billion in 2024 and is estimated to grow at a 5.3% CAGR from 2025 to 2034, driven by increasing demand for acrylate polymers and plasticizers.

The 2-ethylhexanol product segment is expected to capture USD 17.6 billion by 2034, demonstrating a 5.5% CAGR due to its diverse applications.

The U.S. oxo alcohols market is projected to achieve USD 6.8 billion by 2034, with a CAGR of 4.8% from 2025 to 2034, driven by increasing demand in automotive, construction, and consumer goods sectors.

Major players in the oxo alcohols industry include Andhra Petrochemicals, BASF, Bax Chemicals, Eastman Chemical, Elekeiroz, Evonik Industries, Exxon Mobil Corporation, Grupa Azoty ZAK S.A., Hanwha Chemical Corporation, and LG Chem.

Oxo Alcohols Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 10
  • Tables & Figures: 172
  • Countries covered: 18
  • Pages: 200
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