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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.
What is the size of the oxo-octyl acetate market?
Oxo-octyl acetate industry size was worth USD 1.4 billion in 2022 and is estimated to reach USD 2.1 billion by 2032 driven by increasing usage of cleaning solutions to dissolve oils, greases, and contaminants.
Why is the demand for oxo-octyl acetate rising from the paint and coatings industry?
Oxo-octyl acetate industry from the paint and coatings end-use segment is anticipated to expand at 3.4% CAGR from 2023-2032 attributed to growing usage in dissolving and dispersing pigments, resins, and additives in paint formulations.
How big is the U.S. oxo-octyl acetate market?
U.S. oxo-octyl acetate industry size was USD 585 million in 2022 and is anticipated to expand significantly through 2032 owing to the increasing demand from the well-established paints and coatings sector of the region.
Who are the leading players operating in the oxo-octyl acetate business?
Some leading oxo-octyl acetate industry players are Eastman Chemical Company, BASF SE, ExxonMobil Chemical, Evonik Industries AG, Dow Chemical Company, Shell Chemicals, LyondellBasell Industries, and SABIC