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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.
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