New York, United States , Feb. 21, 2023 (GLOBE NEWSWIRE) -- The Global Oxo alcohols Market Size to grow from USD 20.00 billion in 2021 to USD 31.02 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5% during the forecast period. Over the projected period, the demand for Oxo alcohols in the market will increase due to a rise in the demand for acrylate an application of Oxo alocohols, which is used to make acrylate polymers. Favourable market circumstances are being produced by rising Oxo alcohols demand across a number of sectors, including consumer products, construction, and the automobile industry.
Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report.
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COVID-19 Impact Analysis
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
Browse key industry insights spread across 200 pages with 147 market data tables and figures & charts from the report “Global Oxo alcohols Market Size, Share, and COVID-19 Impact Analysis By Type (N-Butanol, 2-Ethylhexanol, Iso-butanol and Others) By Application (Plasticizers, Acrylate, Acetate, Glycol Ether, Solvents, Adhesives, Lube oil additive and Others) By End-use (Paint and Ink, Textile, Chemical, Pharmaceutical and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” in detail along with the table of contents.
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The 2-Ethylhexanol segment to account for the largest market size during the forecast period
Based on the Type, the Oxo alcohols Market is categorized into N-Butanol, 2-Ethylhexanol, Iso-butanol and Others. The 2-Ethylhexanol segment to account for the largest market size during the forecast period. Throughout the forecast period, the 2-Ethylhexanol segment is anticipated to maintain its leading position Due to the increased usage of 2-Ethylhexanol in the petrochemical sector, which helps to reduce emissions rates while also improving fuel efficiency, the demand for 2-Ethylhexanol product is anticipated to expand throughout the projected period. It is a colourless liquid known as 2-ethylhexanol has a poor solubility in water but a high solubility in the majority of organic solvents. It plays a significant role in the manufacture of 2-Ethyl Hexyl Acrylate and Di-2-Ethyl Hexyl Phthalate and other downstream uses (DEHP).
The Plasticizers segment to hold a higher CAGR during the forecast period
Based on the application, the Oxo alcohols Market is categorized into Plasticizers, Acrylate, Acetate, Glycol Ether, Solvents, Adhesives, Lube oil additive and Others. The Plasticizers segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Plasticizers segment is anticipated to maintain its leading position while expanding at the fastest CAGR Due to they are used as additives to improve a product's plasticity or fluidity. Plasticizers dominate the market because they have a stronghold in the polymer sector. The majority of plasticizers are used to make Polyvinyl Chloride (PVC) products that are utilised in a variety of applications, such as flooring, PVC films, and wire & cables. Since plasticizers make polymers more flexible and durable by increasing their viscosity, plasticity, and decreasing molecular attraction between polymeric chains, the demand for PVC, flexible wallboard, plasticizer-based concrete, and ester-based plastics is anticipated to increase the market value for oxo alcohols over the next few years.
The Textile segment to hold a higher CAGR during the forecast period.
Based on the End-use, the Oxo alcohols Market is categorized into Paint and Ink, Textile, Chemical, Pharmaceutical and Others. The Textile segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Textile segment is anticipated to maintain its leading position while expanding at the fastest CAGR Due to its significant demand by the end user sectors. The use of Oxo alcohols in textile that is inexpensive and durable.
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Asia Pacific is estimated to account for the highest market share in 2022.
The Global Oxo alcohols Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. The demand for Oxo alcohols is being driven by the rising acceptance by the market. The market for Oxo alcohols was dominated by the Asia Pacific region mostly as a result of the region has less laws than North America and Europe, which is driving business expansion. Due to extensive industrialisation, there is a very high demand for oxy alcohols in China. A large demand for coatings, paints, adhesives, and varnishes, as well as increased regional building investment, exist in China. Additionally, the vehicle industry there is expanding and uses a lot of lubricants. The oxo alcohols market is anticipated to develop at a faster rate over the projected period due to these factors, low-cost production, and loose government restrictions. North America to hold a higher CAGR during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Oxo alcohols Market include LG Chem, BAX Chemicals, Eastman Chemical Company, Dow Chemical Company, BASF Petronas, ExxonMobil Chemical Company,Qatar Petroleum, Andhra Petrochemicals, Arkema, Evonik Industries and Others.
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