Research Nester published a report titled “Oxo Alcohols Market: Global Demand Analysis Opportunity Outlook 2031” which delivers detailed overview of the global oxo alcohols market in terms of market segmentation by type, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global oxo alcohols market is anticipated to attain a CAGR of ~4.5% over the forecast period, i.e., 2022 – 2031. The market is segmented by application into acrylates, glycol ethers, acetates, lube oil additives, resins, solvents, plasticizers, and others, out of which, the plasticizers segment is anticipated to hold a substantial share over the forecast period on account of increasing commercial demand for oxo alcohol for production of vinyl plasticizer.
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The global oxo alcohols market is estimated to witness growth on the back of growing application of oxo alcohols for various end-user industries, including, chemical, paint, textiles, and others. Oxo alcohols are produced in two stages, in which, olefins are combined with syngas under low pressure in presence of rhodium catalyst first, and then the resultant aldehyde is hydrogenated to get oxo alcohols. Moreover, oxo alcohols are used for manufacturing various chemicals, plasticizers, paints, and adhesives, amongst others.
On the basis of geographical analysis, the global oxo alcohols market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. The market in the Asia Pacific region witnessed noteworthy growth in the year 2021, on the account of growing chemical manufacturing industry in the region. For instance, the chemical industry in Asia accounted for more than 55% share of the revenue generated by the global chemical industry.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Use of Oxo Alcohol for Manufacturing Chemicals to boost the Market Growth
Oxo alcohol is used as a solvent or chemical intermediate to manufacture various chemicals. Moreover, oxo alcohol is an organic liquid, therefore, it can be used to dilute or dissolve other chemicals during a reaction. This is estimated to boost the market growth.
However, high manufacturing cost, and limited availability of raw materials are expected to operate as key restraint to the growth of global oxo alcohols market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global oxo alcohols market which includes company profiling of Gulf Chemicals and Industrial Oils Co., LG Chem Ltd., Royal Dutch Shell Plc., SK Global Chemical Co., Ltd., Bax Chemicals B.V., LyondellBasell Industries Holdings B.V., Andhra Petrochemicals Ltd., DuPont de Nemours, Inc., The Dow Chemical Company, and PPG Industries, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global oxo alcohols market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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