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The growing demand for paint & coatings from various end-use industries will boost the demand for Oxo Alcohols Market

HYDERABAD, TELANGANA, INDIA, December 9, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Oxo Alcohols Market size is forecast to reach US$24.8 billion by 2027, after growing at a CAGR of 5.1% during 2022-2027. The oxo alcohols are alcohols that are manufactured by adding carbon monoxide (CO) and hydrogen to an olefin to obtain an aldehyde using the hydroformylation reaction. The isobutanol, ethyl hexanol, butanol and isononyl alcohol are obtained by hydrogenating the aldehyde. The oxo alcohols products are used in making solvents, adhesives and intermediates which are widely used in automotive products, building construction materials, consumer goods and others. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Oxo-Alcohols-Market-Research-500319

Key takeaways:

This IndustryARC report on the Oxo Alcohols Market highlights the following areas -

1. Asia-Pacific is expected to register a CAGR of 6.2% during the forecast period 2022-2027. The increasing demand for automotive, electronic and other sectors is driving the market for Oxo Alcohols products, such as isobutanol, isononyl alcohol and others.

2. High demand for plastics from various end-use industries such as automotive, marine, medical equipment, electronics and others is expected to increase the market demand for Oxo Alcohols during the forecast period.

3. The bolstering demand for adhesives and paint & coatings among others is expected to drive the Oxo Alcohols industry during the forecast period, owing to the rising construction activity globally.

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https://www.industryarc.com/pdfdownload.php?id=500319

Segmental Analysis:

1. The 2-Ethylhexanol oxo alcohols segments accounted for around 40% of the Oxo Alcohols Market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. The 2-Ethylhexanol is a clear, colorless, mobile and neutral liquid with low water-solubility but is highly soluble in most organic solvents with a characteristic odor.

2. Asia-Pacific region held the largest Oxo Alcohols Market share (up to 48%) in 2021, owing to the growing construction, automotive and electronics sectors in China, India, Indonesia, Malaysia and others. The major reason for the growth of oxo alcohols is less emission of volatile organic compounds which gives eco-friendly products.

3. The building & construction segment accounted for approximately 13% of the Oxo Alcohols Market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Oxo Alcohols are widely used during the manufacturing of adhesives, paints & coatings and others to reduce viscosity and improve brush flow.

Competitive Landscape:

The top 5 players in the Oxo Alcohols Industry are -

1. Eastman Chemical Company
2. LG Group
3. Exxon Mobil
4. BASF SE
5. Evonik Industries

Click on the following link to buy the Oxo Alcohols Market Report:
https://www.industryarc.com/reports/request-quote?id=500319

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Related Reports:

A. Bio-alcohols Market
https://www.industryarc.com/Research/Bio-alcohols-Market-Research-501690

B. Industrial Alcohols Market
https://www.industryarc.com/Research/Industrial-Alcohols-Market-Research-501665

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