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Global Oxo alcohols Market Size

Report ID: GMI2224
Published Date: Sep 2021
Report Format: PDF

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Global Oxo alcohols Market Size

Global oxo alcohols market size surpassed USD 17.5 billion in 2020 and is projected to grow at over 5% CAGR from 2021 to 2027 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.

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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. 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

Oxo alcohols Market Report Attributes
Report Attribute	Details
Base Year:	2020
Oxo alcohols Market Size in 2020:	17,766.6 Million (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	5%
2027 Value Projection:	25,250 Million (USD)
Historical Data for:	2016 to 2027
No. of Pages:	200
Tables, Charts & Figures:	212
Segments covered:	Type, Application
Growth Drivers:	Asia Pacific: Plasticizers market growth is likely to promote oxo alcohol usage, driving industry growth Europe: Stringent regulatory standard pertaining to high performance fuels and lubricant favoring oxo alcohol demand North America: Growth in paints & coatings industry thus promoting oxo alcohol demand
Pitfalls & Challenges:	Negative trends of phthalates

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Main raw materials used in the commercial production of oxo alcohols are propylene, acetylene, and ethylene. These materials act as intermediates in the production of solvents, ether, acetates, as well as plasticizers. They are mainly derived from petrochemical-based feedstocks; thus, any fluctuation in the crude oil index is expected to disturb the supply chain of the market as well as the market profitability.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The oxo alcohols industry value exceeded USD 17.5 billion in 2020 and will grow at a CAGR of 5% through 2027 with the surging acrylate demand for the production of acrylate polymers.

2-Ethylhexanol products will record USD 12.5 billion revenue through 2027 due to mounting usage in the manufacturing of Di-2-Ethyl Hexyl Phthalate (DEHP) and 2-Ethyl Hexyl Acrylate.

The Asia Pacific oxo alcohols industry will surpass USD 11 billion valuation by 2027 driven by the high availability of raw materials and low-cost labor.

Prominent participants in the oxo alcohols industry comprise OXEA GmbH, LG Chem, The Dow Chemical Company, Elekeiroz, Evonik Industries, Andhra Petrochemicals, Exxon Mobil Corporation, and others.