Oxo alcohols are prepared by reacting olefins with syngas under low pressure condition and presence of rhodium catalyst. The resultant aldehyde is hydrogenated to produce final product. These products have wide application outlook in printing inks, drugs, additives in polishers, cleaners and solubilizer in textile industry. These products also act as intermediate in the production of plasticizers and solvents used in polymer, automotive and construction industry.
Oxo Alcohols Market: Key Players
The research study includes profiles of leading companies operating in the global oxo alcohols market. Key players profiled in the report include: BASF Petronas, Dow Chemical Company, Eastman Chemical Company, ExxonMobil Chemical Company, Arkema SA, Evonik Industries, The Andhra Petrochemicals Limited , Oxea, ZAK S.A. & Ineos.
Drivers for the Global Oxo Alcohols Market:
Growing plasticizers demand in construction and packaging industries along with increasing application scope in solvent formulations for usage in printing inks and additive for cleaners & polish and should drive oxo alcohols market size. These products are hydrogenated aldehyde manufactured by adding hydrogen and carbon mono oxide to an olefin. Increasing plasticizer demand in automotive, consumer goods and construction industries should incur industry growth. Thus all these factors are driving the growth of the oxo alcohols market.
Opportunities for the Global Oxo Alcohols Market:
The oxo alcohol market is witnessing a significant growth owing to the significant demand for the manufacturing of plasticizers, paints, coatings & adhesives, additives, and chemical intermediates. Plasticizers are the largest end use application of oxo alcohol industry and will continue to remain so and hence are going to drive the demand for the oxo alcohol market. Likewise, the demand of oxo alcohol for application in acrylates, acetates and ethers is going to contribute significantly and is anticipated to grow at a faster rate than plasticizers during the forecast years. Therefore, the demand and consumption characteristics of oxo alcohol are majorly driven by the development of the polymer, plastic manufacturing, and chemical industries.
Restrains for the Global Oxo Alcohols Market:
Stringent regulations by the governing bodies of both developed and developing economies regarding the environmental impacts of plastic consumption might restrain the growth of oxo alcohols market over the coming years. This market is witnessing a strict restriction from these regulations and is expected to hinder over the coming years. This market will experience further hindrance from fluctuations in the raw material prices and availability as the oxo alcohols are derived from crude oil. The prices of crude oil are highly fluctuating from the past few years and may fluctuate in the coming years too. This may show some negative impact on the market growth.
Region Wise, Global Oxo Alcohols Market Analysis:
Report covers the region wise analysis, global 0xo alcohols can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global 0xo alcohols market share followed by North America & Europe. While the Asia Pacific leads the global 0xo alcohols market due to the presence of large number of end-use industries. Countries including Japan, South Korea, and China contribute to more than half of the global production. Balanced supply of and demand for the product, increasing production capacities in the China market, and stability in U.S. and Europe are likely to have a positive impact on market growth. N-Butyl alcohol has emerged highly lucrative due to steady growth in the paints industry in Asia Pacific. Thus all these factors are responsible for the growth of the oxo alcohols market in Asia-Pacific region.
Global Oxo Alcohols Market: Product analysis
- ISO Butanol
Global Oxo Alcohols Market: Application analysis
- Glycol Ethers
- Lube Oil Additives
Global Oxo Alcohols Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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