Global oxo alcohols market seems to reach USD 20.65billion by 2028, at a CAGR of 4.85% from 2021 to 2028. Global Oxo Alcohols market is witnessing a considerable growth owing to the increasing demand for plasticizers, paints, coatings and adhesives in the global market.

Market Overview:

Oxo Alcohols are basically used as solvents. As solvents, it is used in various applications like solvent used in printing inks. This is also used as an additive in polishers and cleaning agent. Oxo Alcohol is widely used in the production of drugs as an extractant, widely used in the textile industry. Oxo Alcohol also acts as a dehydrating agent when required. Oxo Alcohols are used for making automotive coatings, crop protection products, antioxidants, pesticides, perfumes etc. So this is broadly used in as a feedstock in chemical and manufacturing companies. Oxo Alcohols are produced when there is a reaction between olefins and syngas with rhodium acting as a catalyst agent. According to the demand and requirement, different olefins are used like acetylene, ethylene and propylene to produce different types of Oxo-Alcohol.

The surge in demand for plasticizers by construction and packaging industries and the rising demand as a solvent in the printing inks are some of the factors driving the oxo-alcohol market. There is a great demand for plasticizers in construction, consumer goods and automotive industries. Oxo Alcohols are used in the manufacturing of Acrylates, which are used as an intermediate for textile, packaging and automotive sectors. Acrylates are widely used in construction and coating sector. The surge in the per capita income in the developed and developing economies have led to the development in the infrastructure, increase in renovation activities. All these factors are driving Acrylates market, which in turn is propelling the Oxo-Alcohol market. The Oxo alcohol products have varied applications in various segment like orienting inks segment, in drugs segment, in textile industry etc. The products are also used as an intermediate in the automotive and construction industry. It also as a solvent used in the polymer. Many factors fuelling this market are rapid industrialization, expanding manufacturing sector and also rising chemical and polymer industry. These factors are crucial for the growth of Oxo-Alcohol Market.

Some of the Oxo-Alcohol like iso- Butanol are used in household and industrial coatings. It is also used as adhesives, wood furniture varnish etc. It is also used as an additive in Lube oil and paints. 2- Ethyl Hexanol are used in cosmetic industries. Similarly, there is a broad application of a different type of oxo alcohols from perfume, to pharmaceuticals, they are used in almost every industry segment.

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Market Dynamics:

Drivers:

• The increasing demand for plasticizers, paints, coatings and adhesives

The increase in per capita income of the people in the developed and developing economies have led the people to live a quality life, buy new properties, car, invest in new ventures, buy quality products etc. All these factors increase the demand of goods in almost all the market sector. The demand of automobile increases the production of automobiles by the automobile companies, which increases the demand for paint and plasticizers by the automobile industries. Also, this will also increase the demand for coatings and adhesives used in the automobile sector, which in turn drive the Oxo-Alcohol market. Similarly, the prices of the properties will also rise; this also lead to the construction of new buildings which create the demand for adhesives, coatings, paints and plasticizers. The increasing disposable income will also propel the people for the renovation of the house, which also drive the paint, coatings etc. market, which in turn drive the Oxo-Alcohol market.

• Rapid Industrialization and urbanization

Rapid industrialization and urbanization is also driving the Oxo-Alcohol market. The government of the emerged and emerging economies are taking initiatives for developing the infrastructure of the cities for the ease of the people. This attracts more people to the cities, thus led to the rapid urbanization of the cities, which has created the demand for the construction of new buildings for schools, shopping complex, hospitals etc. which again increases the demand for paints, plasticizers, coatings etc. The urbanization will also increase the demand for the automobiles, cosmetics products and consumer goods, which increases the pace of industrialization, as the demand increases. All of these factors ultimately will drive the Oxo-Alcohol market.

Restraints:

• The fluctuations in the price of raw materials

The fluctuation in the price of raw materials producing Oxo Alcohols are acting as a restraint for the market. The fluctuation in the price would cause the fluctuation in supply of Oxo Alcohol, which ultimately someday would not able to meet the demand. The price of the Oxo Alcohol will then rise, resulted in the less buying of Oxo-Alcohol, and the end-user industries would start looking for the substitute products, which will reduce the demand of the Oxo-Alcohol, which in turn reduce the sales of Oxo-Alcohol. So the fluctuations in the price of raw materials are the major restraint for the Oxo-Alcohol market.

Opportunities:

• The surge in demand from end user industries like construction, automotive, cosmetics and consumer goods.

Oxy-Alcohol has the varied applications as Acrylates, which are used in the the construction and the coating industries. They are used in household coatings and paints. This is also used as adhesives, plasticizers and also used in pharmaceuticals and cosmetic industries. They are also widely used in automotive coatings, in crop protection products, pesticides, in the making of synthetic resins, antioxidants and in the making of perfumes, so it has broad applications. It is also required as a solvent for printing inks. This is used in the coating industry as it prevents blushing when drying in humid conditions. The rise in disposable income in the developed and developing economies has led to the increase in the demand of consumer goods etc. This also has increased the demand of the properties, cars etc. this has led to the increase in the production of consumer goods, increase in the production of cars by the automobile industry, increase in the demand of cosmetics and medicines etc. All these factors are driving the Oxo-alcohol market, which has the application in almost all the end user industries like construction, automotive, cosmetics and consumer goods.

Segmentation Analysis:

The global Oxo Alcohols market has been segmented based on type, application and regions.

• The type segment is divided into N-Butanol, 2-Ethylhexanol, Iso-Butanol and others. 2-Ethylhexanol is accounted for the highest market share of 33.77% in 2020. This is due to the fact that it is broadly used in coating and adhesive industries. They are used as a feedstock for many downstream applications like di-2-Ethyl Hexyl Phthalate (DEHP), 2-Ethyl Hexyl Acrylate etc., which are broadly used in the petrochemical industries as it has low emission rates and enhances the fuel performance.
• The application segment includes Plasticizers, Acrylate, Acetate, Glycol Ether, Solvents, Adhesives, Lube Oil Additive. The Plasticizers accounts for 25.33% of market share in 2020. This is due to the rise in demand for PVC applications. Plasticizers are used in PVC to provide the flexibility and the durability. They are broadly used in the making of films and cables. Also, the rise in demand for flexible wallboard, plasticizer based concrete etc. are some the factors that is driving the plasticizer market, which in turn is driving the Oxo-alcohol market.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific is accounting for the highest marketing share in 2020.

• Asia Pacific region is having the highest market share of 36.23% in 2020. This is due to the growing demand for paint, coatings and adhesives as there is a rapid urbanization going on in the emerging economies like India and China, which creates the demand of infrastructure, buildings etc. The urbanization also attracts people, which then demand for automobiles, medicine, cosmetic products and consumer goods, which also need Oxo Alcohol for its application in the pharmaceuticals industries, automobile industries, construction industries etc.
• Europe had the second-largest market share of 22.14 % in 2020. This is due to the rise in the production of the automobiles. Countries like Germany, Spain and Italy has better infrastructure and good networking of roads; these factors are fuelling the automobile sectors, which ultimately require many things like paint, adhesives, plasticizer etc., which in turn drives the Oxo-Alcohol market in the region.

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Competitive Analysis:

In June 2019, Eastman Chemical Company announced the agreement to acquire INACSA. This would help the organization in strengthening the global textile supply chain of the company; this will increase the customer base.

In August 2017, ExxonMobil Chemical Company completed the acquisition of world largest aromatic plants of Jurong Aromatics Corporation. This acquisition will increase the production capacity of the organization and strengthen the organization with operational and logistical synergies.

List of Key Market Players:

• BASF SE
• Eastman Chemical Company
• Mitsubishi Chemical Corporation
• The DOW Chemical Company
• ExxonMobil Chemical Company
• Evonik Industries
• LG Chem
• BAX Chemicals BV
• OXEA Group
• CNPC

Key Target Audience

• Paint Industries
• Chemical industries
• Adhesive Industries
• Textile industries
• Personal care Industries
• R&D Organizations
• Regulatory Bodies

Report Description:

• Global Oxo Alcohols Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global Oxo Alcohols market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Oxo Alcohols market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of type, application and regionswhich are deduced and formulatedon the basis of theirgrowth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathommarket growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Oxo Alcohols market. This offersvital and in depth insights in order to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global Oxo Alcohols market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
• The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
• Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global Oxo Alcohols market) is covered in order to comprehend the adoption rate and evaluate the market size.