Global Oxo-Alcohol Market Report and Forecast 2023-2028

Global Oxo-Alcohol Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global oxo-alcohol market reached a volume of nearly 8.67 million tons in 2022. Aided by the increasing demand in plasticisers, paints, and coatings, coupled with the myriad of applications in the chemical sector, the market is projected to further grow at a CAGR of 2.5% between 2023 and 2028.

Oxo-alcohol refers to alcohols synthesised through the oxo process, with the primary types being n-butanol, isobutanol, and 2-ethylhexanol. These alcohols have a wide range of applications due to their solvating attributes, flexibility, and inherent properties. They serve as foundational elements in the production of solvents, resins, lubricants, and plasticisers.

The ever-increasing global demand for coatings and adhesives, especially in the construction and automotive sectors, is accelerating the oxo-alcohol market growth. As urbanisation swells and infrastructural developments mushroom, there's a subsequent rise in the demand for paints, lacquers, and coatings, all of which require oxo-alcohols as a primary ingredient.

Furthermore, the chemical industry's extensive reliance on oxo-alcohols, particularly in the realm of plasticisers, is a major factor boosting the oxo-alcohol market size. As industries veer towards sustainable solutions and products, there's a growing interest in flexible and resilient materials, which is invigorating the demand for plasticisers and, by extension, oxo-alcohols.

Expanding on the application spectrum, oxo-alcohols are also proving to be invaluable in the cosmetic and pharmaceutical industries. Due to their solvent properties, they often find their way into cosmetic formulations, enhancing the stability and efficacy of the final product. Concurrently, in the pharmaceutical sector, oxo-alcohols serve as key intermediates in drug synthesis and as solvents in formulations.

A significant push towards green and sustainable products has led innovators to explore oxo-alcohols' potential in renewable sectors. Recent research has delved into the usage of these alcohols in bio-based plastics and other eco-friendly alternatives, thereby paving new avenues for market expansion. As industries and consumers increasingly tilt towards environmental responsibility, such ventures are expected to further buttress the oxo-alcohol market. In geographical terms, the Asia Pacific accounts for a significant portion of the oxo-alcohol market share.

Market Segmentation

The market can be divided based on type, form, feedstock, and region.

Market Breakup by Type

• 2-Ethylhexanol
• n-Butanol
• iso-Butanol
• Others

Market Breakup by Form

• Plasticiser
• Ethylhexyl Acrylate
• Others

Market Breakup by Feedstock

• Propylene
• Natural Gas

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 oxo-alcohol market. Some of the major players explored in the report by Expert Market Research are as follows:

• BASF SE
• Exxon Mobil Corporation
• Eastman Chemical Company
• INEOS Group
• Grupa Azoty ZAK S.A.
• 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.