Global Allyl Alcohol Market Report and Forecast 2024-2032

Global Allyl Alcohol Market Report and Forecast 2024-2032

Global Allyl Alcohol Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global allyl alcohol market is projected to grow at a CAGR of 1.0% between 2024 and 2032. Aided by its expanding demand in the plastic, chemical, and pharmaceutical sectors, along with its growing role as a versatile precursor, the market is expected to grow significantly by 2032.

Allyl alcohol, an organic compound, is a raw material primarily used in the production of various derivatives, which have extensive applications in sectors ranging from plastics to pharmaceuticals. Its colourless nature, pungent odour, and miscibility with most organic solvents render it a valuable component for various industrial uses. In addition, it's essential in the synthesis of numerous organic compounds, including esters and polymers.

The booming chemical industry, particularly in regions such as Asia-Pacific, is a significant contributor to the global allyl alcohol market growth. The rising necessity for plastics, pharmaceuticals, and chemical products, where allyl alcohol functions as an intermediate or a precursor, has amplified its demand. Furthermore, ongoing research and development activities in the pharmaceutical sector are identifying newer applications for allyl alcohol, adding to its market vigour.

Additionally, the demand for sustainable and environment-friendly products has ushered in novel applications of allyl alcohol, propelling the allyl alcohol market demand. Its role in producing polymers that are biodegradable has garnered attention, given the increasing global emphasis on curtailing plastic pollution.

A surge in the demand for high-performance lubricants in the automotive industry has also been instrumental in boosting the market. Allyl alcohol-based esters, utilised in these lubricants, enhance performance, and reduce wear and tear, further increasing the allyl alcohol market size.

Moreover, the growth in construction activities worldwide, especially in emerging economies, has spurred demand for paints and coatings. Allyl alcohol, given its role as a solvent and a chemical intermediate in paint formulations, stands to benefit from this uptrend.

APAC dominates the market, given its robust chemical and manufacturing sectors. As per the allyl alcohol market analysis, countries like China and India, with their sprawling chemical industries, are major consumers. Rapid industrialisation, favourable government policies, and low production costs have spurred growth. Moreover, the region's growing pharmaceutical and automotive sectors have contributed to heightened demand for allyl alcohol.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application

• Optical Resins
• Safety Glass
• CRT Screens
• Paints and Coatings
• Silane Coupling Agents
• Polymer Crosslinking Agents
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global allyl alcohol market. Some of the major players explored in the report by Expert Market Research are as follows:

• LyondellBasell Industries Holdings B.V.
• Showa Denko K.K.
• Seqens Group
• Zouping Mingxing Chemical Co. Ltd.
• Daicel Corporation
• Dairen Chemical Corporation (DCC)
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.