Oxo alcohols are prepared from a two-step process. First step is to convert olefins to alcohols by reaction with syn gas (carbon monoxide & hydrogen) followed by hydrogenation of the resultant aldehyde. In the first step, hydroformylation reaction is carried out under low pressure in the presence of rhodium catalyst (LP Oxo process). For example, ethylene may be hydro formulated to produce normal-butyraldehyde and iso-butyraldehyde which are hydrogenated to produce n-butanol and isobutanol. The major applications of Oxo alcohols are plasticizers, paints, coatings & adhesives, lubricant additives, and chemical intermediates.
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Asia-Pacific is the global leader in the consumption of Oxo alcohols and this dominance is expected to continue till 2031. China is the key market in the region, consuming more than half of the demand for Oxo alcohols, followed by Japan, South Korea, and India, where consumption is growing steadily. Increase in the consumption of Oxo alcohol for air conditioning & refrigeration, chemical processing, transportation, and consumer goods industry has been observed in Asia-Pacific due to continued industrialization and rise in the manufacturing sector of the region. Growing innovation and developments in the Oxo alcohol consumer industries are directly affecting the rise in the use of Oxo alcohols.
The Oxo alcohols market is very competitive due to the presence of big players in the business, which inhibits the new entrants and local manufacturers to capture a good share at global level. Various market players have started focusing on innovations and product developments to meet the environmental constraints and to lower the production cost of Oxo alcohols in order to have an edge in the market.
This study on Oxo alcohols market estimates the market value for Oxo alcohols and projects the same till 2031. As a part of quantitative analysis, the study segments the market by application at country level with the current market estimation and forecast till 2031. The countries covered in the report are China, Japan, South Korea, India, The U.S., Canada, Mexico, Germany, Netherlands, U.K., France, and Brazil. The segmentation by type includes- butanol, 2-ethylhexanol, Isononyl alcohol, Isobutanol, and 2-propylheptanol.
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The segmentation by end-user industries includes air conditioning & refrigeration, chemical processing, transportation, consumer goods, and others. Further as a part of qualitative analysis, the study provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. It also includes the company profiling and competitive strategies adopted by different market players, including BASF Petronas (Malaysia), Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), ExxonMobil Chemical Company (U.S.), Arkema (France), Evonik Industries (Germany), Andhra Petrochemicals (India), Oxea (U.S.), ZAK S.A. (Poland), Ineos (Switzerland), BAX Chemicals (The Netherlands), Qatar Petroleum (Qatear), and LG Chem (South Korea).
These regions are further sub-segmented into the following:
- North America (U.S. & Canada),
- Latin America (Argentina, Mexico, Brazil, Rest of Latin America),
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe),
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), and the
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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