The global oxo-alcohol market size reached US$ 14.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9% during 2024-2032.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 14.2 Billion |
Market Forecast in 2032
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US$ 31.1 Billion |
Market Growth Rate 2024-2032 | 9% |
Oxo-alcohol is a chemical compound prepared by reacting olefins with syngas at low pressure in the presence of a rhodium catalyst. It includes Isobutanol (IBA), N-Butanol (NBA), and 2-Ethylhexanol (2-EH), which are widely used as solvents and chemical intermediates in manufacturing adhesives, surfactants, paints, coatings, plasticizers, acetates, printing inks, and ethers. Besides this, it finds extensive applications in manufacturing acrylates, which are extensively utilized in the textile, packaging, and automotive industries.
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Rapid industrialization and the expansion of manufacturing plants are among the key factors catalyzing the demand for oxo-alcohols across the globe. In addition, the growing global population is resulting in rising construction activities, which, in turn, is increasing the need for plasticizers formulated with oxo-alcohols. Apart from this, oxo-alcohols are extensively used in preparing polyvinyl chloride (PVC) products, which are further employed in different industry verticals on account of their enhanced versatility, flexibility, and durability. For instance, it is employed in the cosmetics industry to formulate fragrances, skincare, and hair care products. Additionally, the growing demand for high-quality lubrication systems in the automotive industry is positively influencing the market. Oxo-alcohols are used as dispersants and synthesis intermediates to synthesize lubricants for machinery and automobiles. Besides this, the widespread adoption of oxo-alcohols in synthesizing coatings to prevent blushing when drying in humid conditions and improve flow, gloss, and resistance is strengthening the market growth. The rising use of these chemicals in the pharmaceutical and agricultural sectors is driving the market. Furthermore, the increasing applications of 2-Ethylhexanol as feedstock on account of its flexibility, lower emissions, good adhesion, and fuel performance enhancement properties are stimulating the market growth. Moreover, rising funds by leading market players in research and development (R&D) activities to introduce more efficient variants of oxo-alcohols, are anticipated to propel the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global oxo-alcohol market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on type.
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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N-butanol currently represents the largest type as it is extensively used in various applications, such as acrylate, acetate, glycol ethers, and solvents.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional Oxo-alcohol markets, which include Asia, North America, Western Europe and Others. Asia enjoys the leading position in the global market due to rapid industrialization and the growing population, which is resulting in the rising need for automotive and construction activities in the region.
The competitive landscape of the industry has also been examined along with the profiles of the key players being China Petrochemical Corporation, OQ Chemicals GmbH (OQ SAOC), LG Chem, BASF SE, Eastman Chemical Company, Formosa Plastics Corporation and Sasol Limited.
Report Features | Details |
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Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | Million Tons, US$ Billion |
Segment Coverage | Type, Region |
Region Covered | Asia, North America, Western Europe, Others |
Companies Covered | China Petrochemical Corporation, OQ Chemicals GmbH (OQ SAOC), LG Chem, BASF SE, Eastman Chemical Company, Formosa Plastics Corporation and Sasol Limited |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global oxo-alcohol market reached a value of US$ 14.2 Billion in 2023.
The global oxo-alcohol market is expected to grow at a CAGR of 9% during 2024-2032.
With the outbreak of the coronavirus disease (COVID-19), the production and supply of oxo-alcohols have been disrupted, which, in turn, is negatively impacting the industry growth.
The escalating demand for oxo-alcohols from the plasticizers indutry represents one of the primary factors catalyzing the market growth. Besides this, the increasing demand for acrylates from the coatings and packaging industries is also creating a positive impact on the industry.
One of the major market trends is the continuous engagement of manufacturers in research and development (R) activities to launch new and efficient variants.
Based on the type, the market is categorized into 2-Ethylhexanol, n-Butanol and iso-Butanol. Amongst these, n-Butanol represents the most popular type, holding the largest market share.
Region-wise, Asia exhibits a clear dominance in the market, accounting for the majority of the total market share. Other major regions include North America and Western Europe.
The leading players operating in the industry are China Petrochemical Corporation, OQ Chemicals GmbH (OQ SAOC), LG Chem, BASF SE, Eastman Chemical Company, Formosa Plastics Corporation and Sasol Limited.