APAC to Dominate Oxo Alcohol Market During Forecast Period – TechSci Research
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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