According to IMARC Group’s recently published report titled “Oxo-Alcohol Market Size, Share, Growth, Price Trends, Opportunity and Forecast 2020-2025”, the market has grown at a CAGR of around 3.4% during 2014-2019. Oxo-alcohols are chemical compounds that are obtained by adding syngas to an olefin in a hydroformylation reaction, followed by hydrogenation of the intermediate aldehyde. They are prepared using various olefins, including ethylene, propylene, and acetylene.
Global Oxo-Alcohols Market Trends:
Oxo-alcohols are widely used as solvents in a wide range of applications, such as for producing paints, manufacturing chemicals, and coatings, and adhesives. They are also utilized for manufacturing plasticizers, which are further used in the production of polyvinyl chloride (PVC) products. An increase in the demand for these oxo-alcohols has boosted their sales across the globe. Furthermore, the thriving construction industry acts as another key factor contributing to the growth of the market. Moreover, manufacturers are focusing on research and development (R&D) activities to develop new variants, like BioPure™ nC4-OL by Acme-Hardesty, that helps in the manufacturing of esters used in personal care products. This is anticipated to provide a positive outlook on the market in the near future.
For more information about this report: https://www.imarcgroup.com/oxo-alcohol-technical-material-market-report
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Oxo-Alcohol Market Segmentation
Market Breakup by Region
Asia
North America
Western Europe
Others
Market Breakup by Type
2-Ethylhexanol
n-Butanol
iso-Butanol
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/oxo-alcohol-technical-material-market-report/requestsample
Some of the major players operating in the industry include Sinopec (SHI), Oxea Group, LG Electronics Inc (KRX: 066570), BASF (BASFY), Eastman Chemical Company (NYSE: EMN), Formosa Plastic Group, CNPC and Sasol Ltd.