Oxo-octyl Acetate Market - By Grade (Pharmaceutical Grade, Cosmetics Grade), By Raw Material (Petrochemical-Based, Bio-Based), By End-use & Forecast, 2023 – 2032

Oxo-octyl Acetate Market Size

Oxo-octyl Acetate Market size was valued at around USD 1.4 billion in 2022 and is anticipated to grow at a CAGR of 3.8% between 2023 and 2032. Oxo-octyl acetate's solvency properties help dissolve and disperse pigments, resins, and other components in coating formulations. Oxo-octyl acetate improves the flow and application characteristics of adhesives and sealants.
 

Oxo-octyl acetate assists in maintaining ink viscosity, facilitating even distribution, and promoting adhesion to surfaces. Oxo-octyl acetate's ability to dissolve oils, greases, and contaminants makes it valuable for industrial cleaning applications.
 

Oxo-octyl acetate and its use as a chemical solvent might be subject to regulations and restrictions. Oxo-octyl acetate is a volatile organic compound, which can contribute to air pollution and potentially lead to environmental and health concerns. Fluctuations in raw material prices can impact the overall economics of production. Thus, the risks associated with Oxo-octyl acetate may drive down the acceptance rate, further hampering the business growth.
 

COVID-19 Impact

The pandemic led to reduced industrial activity and demand for various products that use oxo-octyl acetate as a solvent. Industries such as paints, coatings, adhesives, and cosmetics might have experienced decreased production and lower demand. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business expansion in the upcoming years.
 

Oxo-octyl Acetate Market Trends

The trend towards sustainability and green chemistry has influenced the chemical industry, including solvents like oxo-octyl acetate. There's an increasing focus on developing environmentally friendly alternatives and reducing the environmental impact of chemical processes. Regulatory requirements related to environmental and health concerns are shaping the choice of solvents used in various applications. Oxo-octyl acetate's compliance with regulations or its role in meeting volatile organic compounds (VOC) restrictions could drive its adoption.
 

Oxo-octyl Acetate Market Analysis

Based on raw material, the oxo-octyl acetate market is segmented as Petrochemical-Based, Bio-Based. Petrochemical-Based held a dominant market share of around 90% in 2022 and is expected to grow at a lucrative pace through 2032. Efficient and selective catalysts can impact the yield, efficiency, and overall cost of production.
 

Based on raw material, the oxo-octyl acetate market is segmented as Petrochemical-Based, Bio-Based. Petrochemical-Based held a dominant market share of around 90% in 2022 and is expected to grow at a lucrative pace through 2032. Efficient and selective catalysts can impact the yield, efficiency, and overall cost of production.
 

Based on end-use, the market is segmented as Paint and Coatings Industry, Adhesive Industry, Printing Industry, Cleaning Industry, Cosmetics and Personal Care, Others. Paint and Coatings Industry held a dominant oxo-octyl acetate market share in 2022 and is anticipated to grow at 3.4% CAGR through 2032. Oxo-octyl acetate's solvency properties aid in dissolving and dispersing pigments, resins, and additives in paint formulations.
 

U.S. dominated the North American region with majority market share and a revenue of USD 585 million in 2022 and is anticipated to expand at a significant pace from 2023-2032. Oxo-octyl acetate's role in enhancing paint and coating properties, such as viscosity control and pigment dispersion, aligns with the region's strong paints and coatings sector.
 

Oxo-octyl Acetate Market Share

Some of the major players operating in the Oxo-octyl acetate market are:

• Eastman Chemical Company
• BASF SE 
• ExxonMobil Chemical
• Evonik Industries AG
• Dow Chemical Company
• Shell Chemicals
• LyondellBasell Industries
• SABIC
• INEOS Group
• Mitsui Chemicals
• Arkema Group 
• Mitsubishi Chemical Corporation
• Huntsman Corporation
• Celanese Corporation
• Solvay S.A.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Oxo-octyl acetate Industry News:

• In 2022, BASF SE launched Oxo-octyl Acetate. It is used in sunscreens and face creams. Oxo octyl acetate application is made when ethylene oxide and phenol are mixed together under high heat and pressure.
   

Oxo-octyl acetate market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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By Garde

• Pharmaceutical Grade
• Cosmetics Grade

By Raw Material

• Petrochemical-Based
• Bio-Based

By End-use

• Paint and Coatings Industry
• Adhesive Industry
• Printing Industry
• Cleaning Industry
• Cosmetics and Personal Care
• Others

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

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt