Oxo Chemicals Market Set to Surpass $33 Billion by 2025: TechSci Research Report
NEW YORK, October 13, 2016 /PRNewswire/ --
Rising demands for oxo intermediates in plasticizers manufacturing industries coupled with robust growth of downstream industries to steer the global oxo chemicals market through 2025.
According to TechSci Research report, "Global Oxo Chemicals Market By End Use, By Region, Forecast & Opportunities, 2011-2025", the global oxo chemicals market is forecast to surpass US$ 33.27 billion by 2025. 2-ethylhexanol (2-EH) and n-butanol dominates the global oxo chemicals/oxo alcohols market and accounted for a value share of over 75% in global oxo chemicals/oxo alcohols market in 2015. Strong demand for oxo chemicals/oxo alcohols is emanating from plasticizers, paints, coatings & adhesives, lubricant additives and chemical intermediates. On the basis of application, oxo chemicals market is segmented into plasticizers, acrylates, glycol ether and others. Plasticizers are the leading consumers of oxo chemicals. Plasticizers increase plasticity and fluidity of chemicals and growing demand for plasticizers chemicals in various downstream industries such as plastics, wires, cables, automotive, etc. is positively impacting the consumption of oxo chemicals globally.
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Browse 7 market data Tables and 88 Figures spread through 143 Pages and an in-depth TOC on "Global Oxo Chemicals Market "
Global plasticizers market is growing at an annual growth rate of about 6% and is forecast to reach US$20.47 billion by 2020, which is anticipated to create strong growth opportunities for oxo chemicals manufacturers. Plasticizers chemical manufacturing industries are the largest consumers of oxo chemicals due to their easy availability, low price, high quality and efficiency. Expanding construction sector coupled with strong growth in commercial, residential and public infrastructure across the globe is catalyzing demand for plasticizers as key ingredient in manufacturing of various building materials. On account of rising construction and growth of automotive and paint & coatings industries in the emerging economies, consumption of various oxo intermediates such as alcohols, aldehydes, speciality ester, etc. is growing continuously, which is driving demand for oxo chemicals. Moreover, acrylates, glycol ether, resins and solvents manufacturing industries are the other end use industries of the global oxo chemicals market. Robust growth of global textiles, paints and coatings industries is propelling the utilization of acrylates and glycol ether and is projected to aid in strengthening of global oxo chemicals market in forecast period.
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Asia-Pacific controls the largest share of global oxo chemicals market due to growing demand for chemical intermediates in various downstream industries and growing awareness about the chemical properties and their effects on product quality. Countries such as China and the United States are the largest demand generator for plasticizers across the globe, which in turn is driving utilization of oxo chemicals in China and the US. Strong demand for PVC is also boosting demand for plasticizers. Construction sector in Asia-Pacific is growing at a robust pace with large construction projects underway and huge investments being made in construction of airports, metros, and infrastructure projects. This is turn is pushing consumption of plasticizers and driving demand for oxo chemicals in the region. Ongoing and upcoming construction projects across the globe are estimated to generate huge opportunities for oxo chemicals market, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Oxo Chemicals Market By End Use, By Region, Forecast & Opportunities, 2011-2025" has evaluated the future growth potential of global oxo chemicals market and provides statistics and information on market size, share, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in global oxo chemicals market.
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