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North American Oxo Alcohols Market size to hit $5.5 Bn by 2026
Published Date: 2021-06-08
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North American Oxo Alcohols Market size is anticipated to reach USD 5.5 billion by 2026, according to a latest forecast report by Graphical Research.
Increasing in government investment in commercial and public infrastructure has accelerated the demand for plasticizers, adhesives, and coatings in North America, which should propel the use of oxo alcohols as solvents in manufacturing. Also, rising demand for cleaners and cosmetic products should also trigger the North America oxo alcohols market growth.
2-Ethylhexanol comprises eight carbon atoms and is used in production of solvents, plasticizers, emollients and flavors. 2-Ethylhexanol has low volatility, hence can be used in production of oil and gas, glycidyl ether, as well as rubber production. Rising demand for plastic owing to its rising use in packaging, pipes, and flooring has accelerated the utilization of plasticizers in plastic processing. This growth in the demand for plasticizers is likely to proliferate the use of 2-ethylhexanol in producing plasticizers.
There has been rise in the demand vinyl chloride due to increase in the production of pipes, tubes, wire and cable insulation, and other components. This rise in the production of polyvinyl chloride is likely to propel the demand for polyvinyl chloride plasticizers. Increase in the demand for polyvinyl chloride plasticizers should drive the utilization of 2-ethylhexanol for producing vinyl chloride plasticizer. Such trend in the market should trigger the market deand.
In terms of applications, the plasticizers segment surpassed nearly USD 1.5 billion in 2019. Plasticizers are chemicals that are used in plastic and rubber manufacturing for increasing flexibility of plastic during the process and allowing efficient material handling. Plastic production levels in North America on account of rising demand for pipes, wires, cables, roofing membranes, floorings, and coverings has soared.
Browse detailed statistical insights from the report, “North America Oxo Alcohols Market Forecast 2026 by Product (N-Butanol, 2-Ethylhexanol, Iso-Butanol, Others), Application (Plasticizers, Acrylate, Acetate, Glycol Ether, Solvents, Adhesives, Lube Oil Additive), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
In United States of America, the resin production has increased from around 110 million pounds in 2015 to approximately 121 million pounds in 2019. This significant rise in the production of resin has propelled the utilization of plasticizers in plastic production in North America. This rise in the demand for plasticizers is likely to drive the use of oxo alcohols in making plasticizers. Further, growing adoption of light weight coverings, floorings, and roofing in urban areas should also trigger the demand for light weight durable plastic, which is anticipated to trigger the market renenue.
United States dominated the North America oxo alcohols market in 2019 and reached nearly USD 3 billion in 2019. The demand for plastics and rubber owing to increasing construction, food and beverage packaging, and consumer goods industries has increased in United States. In 2019, polyethylene production volume including LDPE, LLDPE, and HDPE in United States was around 23 million metric tons.
Increase in the production of plastic is likely to trigger the demand for plasticizers, in turn driving the demand for oxo alcohols in plasticizers manufacturing. Further, growing demand for chemicals and solvents in North America pertaining to growth in automotive, manufacturing, and paints and coatings industries should also create new opportunities for the industry growth.
The North American oxo alcohols market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2015 to 2026, for the following segments:
North America Market, By Application
- Glycol Ether
- Lube Oil Additives
North America Market, By Product
The above information has been provided for the following countries:
- North America