A recent study conducted by Market Research Future (MRFR) finds that the global 2-Ethylhexanol Market is set to surge at a compound annual growth rate (CAGR) of 6.2% from 2018 to 2023. The market is currently valued at more than USD 4 Bn.
2-ethylhexanol is sought-after industrial material. The salient features of 2-ethylhexanol continues to increase its scope of application. The low volatility of the material allows its usage in a wide range of products for flow and gloss of baking enamels. Also, it is commonly used as a dispersing agent for pigment pastes. Being a highly adaptable solvent, 2-ethylhexanol has offers exceptional reactivity as a chemical intermediate. The material is used in polymers synthesizing as it functions as a chain terminator.
There are several factors driving the global market for 2-ethylhexanol. Stringent environmental regulations are prompting a shift from solvent-based materials to waterborne acrylic products. This is reflecting favourably on the market. Waterborne coatings are witnessing a quick uptake as they offer environmental sustainability. Waterborne coatings have advantages such as low hazardous waste generation, soap clean-up, low associated costs, and low solvent exposure.
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2-ethylhexanol’s impressive reactivity characteristic allows it use as an intermediate in chemical processing. Other characteristics of the product include slow evaporation rate, excellent dispersing capability, wetting, and defoaming. 2-ethylhexanol is extremely popular across industries such as automotive, adhesives and sealant, lubricants, plasticizer, and construction chemicals.
The product finds application in production of a various types of industrial chemicals. Rapid growth of the global chemical industry is providing an impetus on the market. In 2017, the chemical industry was valued at USD 5,000 Bn.
Global 2-Ethylhexanol Market: Competition Analysis
Notable players operating in the global 2-Ethylhexanol market include
- Sinopec (China),
- Formosa Plastics Corporation (Japan),
- OXEA GmbH (Germany),
- China National Petroleum Corporation (China),
- Nan Ya Plastics Corporation (Japan),
- Arak Petrochemical Corporation (Iran),
- BASF SE (Germany),
- INEOS (UK), LG Chem (South Korea),
- Eastman Chemical Company (US),
- SABIC (Saudi Arabia),
- Elekeiroz (Brazil)
- Mitsui Chemicals, Inc. (Japan).
Global 2-Ethylhexanol Market: Segmental Analysis
The segmental analysis of the global market for 2-Ethylhexanol has been conducted on the4 basis of application.
By application, the market has been segmented into 2-ethylhexyl nitrate, ethylhexyl acrylate, plasticizers, and others. In terms of value, the plasticizers segment command for the highest share of the global 2-Ethylhexanol market. The segment is also projected to demonstrate a strong CAGR during the forecast period. The segment’s growth is being supported by the rising application of plasticizers in polyvinyl chloride (PVC) processing and as an additive. More than two-third of the 2-ethylhexanol produced produces goes into PVC plasticizer application.
Global 2-Ethylhexanol Market: Regional Analysis
MRFR report covers the market across Latin America, Asia Pacific (APAC), Europe, North America, and the Middle East & Africa (MEA). The market in APAC is expected to remain highly attractive during the assessment period. In fact, APAC is likely to dominate the global 2-ethylhexanol market during the assessment period. Urbanization and rapid industrial growth in countries like China and India is viewed as a major driver of the market in the region. Growth on end use industries in APAC is translating into a higher consumption of 2-Ethylhexanol in the region. The plasticizers industry is flourishing in the region, which is creating tremendous market opportunities. The APAC 2-Ethylhexanol market is likely to maintain a healthy growth rate during the projection period.
North America and Europe are also expected to remain important investment destinations for market players over the next several years. These regions boast massive end-use industries such as chemicals, paints & coatings, and polymer. This in turn is driving the market for 2-Ethylhexanol in these regions.
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