APAC to Dominate Oxo Alcohol Market During Forecast Period
According
to TechSci Research report, “Global Oxo Alcohol Market By Type, By Application,
By Region, Competition, Forecast & Opportunities, 2025”, global
oxo alcohol market is projected to grow steadily over the forecast period on
account of growing application of oxo alcohols as a solvent in paints and
coatings, among others. Moreover, the United States Environmental Protection
Agency (EPA) approved iso-butanol to be used as an additive for blending into
gasoline up to 16% to be used in automobile vehicles in the year 2018, which is
anticipated to bode well for the growth of global oxo alcohols market in the
upcoming years. Furthermore, major market players are continually engaging in
research and development activities for developing new and efficient variants of
oxo alcohol, which is bolstering the market growth across the globe. However, fluctuating
raw material cost of crude oil and derivatives, which are used in the
manufacturing of oxo alcohols, might restrain the market growth through 2025.
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Global
oxo alcohol market can be segmented based on type, application and region. Considering the applications,
the market is fragmented into plasticizer, acrylates, acetate esters, resins,
solvents, glycol ethers, lubricants additives, surfactants, stabilizers and
others. The plasticizer application segment dominated the global oxo alcohol market
until 2019 and is estimated to maintain its lead in the next 5 years as well as
it is the main ingredient for the manufacturing of plasticizers.
BASF,
Dow Chemicals, Oxea Group, ExxonMobil Chemical Company, Mitsubishi Chemicals,
Arkema, Evonik Industries, LG Chem, Ineos Oxide, Formosa Plastics Corporation,
Eastman Chemical Company, Luxi Chemicals Company, Petrochina Sichuan
Petrochemic, Wanhua Chemicals, Qilu Petrochemicals among others are the leading
players operating in global oxo alcohol market.
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“Asia-Pacific is projected to dominate the global oxo alcohol market through
2025 on account of presence of large number of end-use industries in the region.
Moreover, balanced supply and demand of the product coupled with increasing
production capacities in the China market is further anticipated to boost the
regional market growth over the years to come.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Oxo Alcohol Market By Type, By Application,
By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global oxo
alcohol market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global oxo alcohol market.
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