Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Oxo Alcohols Market
Oxo Alcohols Market Size
- 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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Oxo Alcohols Market Size in 2024: | USD 21.5 Billion |
| Forecast Period: | 2025 - 2034 |
| Forecast Period 2025 - 2034 CAGR: | 5.3% |
| 2034 Value Projection: | USD 35.1 Billion |
| Historical Data for: | 2021 - 2024 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 172 |
| Segments covered: | Product, Application and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
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.
Frequently Asked Questions (FAQ) :
Oxo Alcohols Market Scope
