What is Oxo Alcohol?
Oxo alcohol is prepared by adding carbon monoxide and hydrogen to olefin. This causes hydroformylation reaction to obtain aldehyde. Olefins such as ethylene, propylene, acetylene can be used as raw material to prepare oxo alcohols. Oxo alcohols are used as a solvent for preparing plasticizers, paints, coatings & adhesives, lubricant additives and in chemical manufacturing. Moreover, 2-Methyl-2-butanol (2M2B), n-Butanol, 2-Ethylhexanol, 2-Propylheptanol, Isononyl alcohol, and Isodecyl alcohol are some key oxo alcohols sold in commerce.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF Petronas (Malaysia), Dow Chemical Company (United States), Eastman Chemical Company (United States), ExxonMobil Chemical Company (United States), Arkema SA (France), Evonik Industries (Germany), The Andhra Petrochemicals Limited (India), Oxea (United States), ZAK S.A. (Poland) and Ineos (Switzerland) |
The study covers a detailed analysis segmented by key business segments i.e. by type (N-Butanol, 2- Ethylhexanol, ISO Butanol and Others) , by application (Acrylates, Glycol Ethers, Acetates, Lubes, Resins, Solvents, Plasticizers and Others) and major geographies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Oxo Alcohol market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Oxo Alcohol market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are BASF Petronas (Malaysia), Dow Chemical Company (United States), Eastman Chemical Company (United States), ExxonMobil Chemical Company (United States), Arkema SA (France), Evonik Industries (Germany), The Andhra Petrochemicals Limited (India), Oxea (United States), ZAK S.A. (Poland) and Ineos (Switzerland).
Market Overview:
On 29th April 2021 - Eastman Chemical Company announced that it has acquired 3F Feed & Food, a European leader specializing in the technical and commercial development of additives for animal feed and human food. Located in Spain, 3F's business and assets are expected to strengthen and support the continued global growth of Eastman's animal nutrition business and will become part of its Additives & Functional Products segment. and On 1st April 2019, Eastman has announced that it has acquired Sasol which is a chemical and Energy Company. This acquisition helps the company to expand its heat transfer fluid product offerings to the customers across the globe.
India: On the basis of the aforesaid findings of the designated authority, the Central Government had imposed an anti-dumping duty on Oxo-alcohols vide notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 109/2000-Customs.
The global oxo alcohol market is witnessing rise in competitiveness among the players. In terms of market share, the major players are currently dominating. However, some of the companies are increasing the market presence by securing new contracts and tapping new markets.
Influencing Trend:
Dependency of Consumers on Polymer Based Products
Market Growth Drivers:
Increasing Demand of Oxo Alcohol in Manufacturing of Plasticizers, Paints, and Adhesives and Wide Range of Applications of Oxo Alcohol is Fueling the Market
Challenges:
Fluctuations in Raw Material which are Derived from Crude Oil
Restraints:
Stringent Government Regulations for Chemicals may hamper the Market and Maturity of the Product
Opportunities:
Rising Renovation and Refurbishment Activities Coupled with Increasing Disposable Income and Changing Lifestyle of Individuals
Key highlights of the Global Oxo Alcohol market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Oxo Alcohol market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Oxo Alcohol market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Oxo Alcohol Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Oxo Alcohol market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Oxo Alcohol market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Manufacturers, Raw material suppliers, Government associations, Research organizations and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.