LONDON, Jan. 19, 2017 /PRNewswire/ -- Oxo chemicals are the intermediates derived from the oxo process, which convert olefins or alkenes into aldehydes. The chemicals produced from the hydroformylation or oxo process are commonly known as oxo chemicals. 2-ethylhexanol (2-EH), n-butanol, n- butyraldehyde, and C6-C13 aldehydes are some of the most important oxo chemicals commercially used in manufacturing of plasticizers, acrylates, detergent alcohols, glycol ether, etc., which in turn are used in construction/remodeling, packaging, automotive, coatings, paints and other end use industries. Increase in utilization of oxo chemicals in various downstream industries is attributed to the growing demand for plasticizers, acrylates, glycol ether, resins and solvents in construction, automotive, paints, coatings and other downstream industries. Moreover, rising technological advancements introduce innovative products such as phthalate free plasticizers, water based and protective coatings, etc., with high functionality and efficiency that attracts large number of consumers, and thus fuels the growth of global oxo chemicals market.
According to Techsci Research report, "Global Oxo Chemicals Market By End Use, By Region, Forecast & Opportunities, 2011-2025", the global oxo chemicals market is forecast to surpass US$ 33.27 billion by 2025, on account of robust growth of construction and automotive segments backed by increasing population, urbanization, and rising government investments in the regions. The expanding commercialization and residential infrastructure has generated a large demand for plasticizers chemicals in production of building materials, which in turn raises the consumption of oxo chemicals as primary feedstock in end use industries. Additionally, growing awareness about the phthalate free plasticizers with improved degradability and no hazardous environmental effects, positively impact oxo chemicals market. Acrylates, glycol ether, solvents, resins, etc., are the other end use segments of oxo chemicals market. Growing application of oxo intermediates and derivatives in textile, pharma, electrical, paints and coatings industries is boosting the global oxo chemicals market. Global oxo chemicals market is controlled by four major players namely: Oxea GmbH, BASF SE, Eastman Chemical Company, and Dow Chemical Company. Other major players in oxo chemicals market are Exxon Mobil Corporation, INEOS Group, Evonik Industries AG, Arkema Chemicals, LG Chem Ltd., and Andhra Petrochemicals Ltd. "Global Oxo Chemicals Market By End Use, By Region, Forecast & Opportunities, 2011-2025" report elaborates followingaspects related to oxo chemicals market.