Oxo Chemicals Market Set to Surpass $ 33 Billion by 2025
Rising
demands for oxo intermediates in plasticizers manufacturing industries coupled
with robust growth of downstream industries to steer the global oxo chemicals
market through 2025.
According to TechSci Research
report, “Global Oxo Chemicals Market By End Use, By Region, Forecast & Opportunities, 2011-2025’’, the global oxo chemicals market is forecast to surpass US$
33.27 billion by 2025. 2-ethylhexanol (2-EH) and n-butanol dominates the
global oxo chemicals/oxo alcohols market and accounted for a value share of
over 75% in global oxo chemicals/oxo alcohols market in 2015. Strong demand for
oxo chemicals/oxo alcohols is emanating from plasticizers, paints, coatings
& adhesives, lubricant additives and chemical intermediates. On the basis of
application, oxo chemicals market is segmented into plasticizers, acrylates,
glycol ether and others. Plasticizers are the leading consumers of oxo
chemicals. Plasticizers increase plasticity and fluidity of chemicals and growing
demand for plasticizers chemicals in various downstream industries such as
plastics, wires, cables, automotive, etc. is positively impacting the
consumption of oxo chemicals globally.
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Global plasticizers
market is growing at an annual growth rate of about 6% and is forecast to reach
US$20.47 billion by 2020, which is anticipated to create strong growth
opportunities for oxo chemicals manufacturers. Plasticizers chemical
manufacturing industries are the largest consumers of oxo chemicals due to
their easy availability, low price, high quality and efficiency. Expanding
construction sector coupled with strong growth in commercial, residential and public
infrastructure across the globe is catalyzing demand for plasticizers as key
ingredient in manufacturing of various building materials. On account of rising
construction and growth of automotive and paint & coatings industries in
the emerging economies, consumption of various oxo intermediates such as alcohols,
aldehydes, speciality ester, etc. is growing continuously, which is driving
demand for oxo chemicals. Moreover, acrylates, glycol ether, resins and
solvents manufacturing industries are the other end use industries of the
global oxo chemicals market. Robust growth of global textiles, paints and
coatings industries is propelling the utilization of acrylates and glycol ether
and is projected to aid in strengthening of global oxo chemicals market in forecast
period.
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Asia-Pacific
controls the largest share of global oxo chemicals market due to growing demand
for chemical intermediates in various downstream industries and growing
awareness about the chemical properties and their effects on product quality. Countries
such as China and the United States are the largest demand generator for plasticizers
across the globe, which in turn is driving utilization of oxo chemicals in
China and the US. Strong demand for PVC is also boosting demand for
plasticizers. Construction sector in Asia-Pacific is growing at a robust pace with
large construction projects underway and huge investments being made in
construction of airports, metros, and infrastructure projects. This is turn is pushing
consumption of plasticizers and driving demand for oxo chemicals in the region.
Ongoing and upcoming construction projects across the globe are estimated to generate
huge opportunities for oxo chemicals market, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Oxo Chemicals Market By End Use, By Region,
Forecast & Opportunities, 2011-2025” has evaluated the future growth
potential of global oxo chemicals market and provides statistics and information
on market size, share, structure and future market growth. The report intends
to provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyses the
emerging trends along with essential drivers, challenges and opportunities in global
oxo chemicals market.
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