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Europe Oxo Alcohols Market to Record an Exponential Growth USD 6.5 Billion by 2026

Author : Ronak Bora | Published Date : 2021-09-06 

Europe oxo alcohols market is seeing considerable demand in the light increasing repair, maintenance, and refurbishment activities across aged residential and commercial buildings. With a growing number of Europeans showing interest in buying homes in rural areas, the number of home construction projects will necessitate the use of acrylates, plasticizers, and solvents.

BASF Petronas, Eastman Chemical, Dow Chemical Company, Evonik Industries, Exxon Mobil Corporation, and OXEA GmbH are some prominent oxo alcohol manufacturers & suppliers in Europe. On account of the rising consumption of cleaners, dehydrating agents, and polishers across the construction sector, Europe oxo alcohols market size is expected to reach $6.5 billion by 2026.

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The following five trends are influencing the oxo alcohols industry in Europe:

Augmenting use of acrylates

Amongst the various oxo alcohol uses, production of acrylates is a major application area. Also referred to as acrylics, acrylates are used across numerous applications due to their superior elasticity, transparency, and breakage resistance. They are added to paints, thickeners, coatings, and adhesives as they can improve the flexibility and adhesion of these products. With the growing number of construction and refurbishment activities in the region, the Europe oxo alcohols market share from the acrylates segment is set to expand steadily through 2026.

A host of 2-ethylhexanol applications

By product, the 2-ethylhexanol segment held over $2 billion of the total Europe oxo alcohols market share during 2019 and is slated to grow steadily over the next five years. 2-ethylhexanol is a type of chiral alcohol consisting of eight carbons and is used in solvents and flavors. These types of oxo alcohols are used in the production of diester bis(2-ethylhexyl) phthalate (DEHP) and emollients. The oxo alcohols industry outlook is gaining momentum because of the growing 2-ethylhexanol use across oil & gas and rubber processing—two high-potential industries in Europe.

Advantageous properties of plasticizers

The Europe oxo alcohols market share from the plasticizers segment in Europe is likely to undergo considerable expansion during the analysis timeline, owing to the versatility of the product. Different types of plasticizers are added to the raw materials utilized for manufacturing rubber and plastic goods during material handling and processing.

Adding plasticizers in concrete formulations renders the mixture workable by reducing the water content. Since the consumption of plasticizers has significantly increased across the automotive and construction applications, the oxo alcohols industry forecast is picking up speed.

Residential construction activities in Germany

Germany oxo alcohols industry size is augmenting substantially across the residential sector in the past few years. Since 2010, the number of households has grown steadily, crossing 40.9 million units by 2019, as per EU’s 2021 ‘European Construction Sector Observatory’ report. As the demand for PVC for flooring, sheathing, coverings, roofing membranes, and other construction applications is augmenting year on year, the oxo alcohols market outlook is making strides throughout Europe oxo alcohols market.

Refurbishment projects across U.K

The rising focus toward refurbishment of residential and commercial spaces is augmenting U.K. oxo alcohols market trends. The COVID-19 pandemic has accelerated the need for repair and maintenance of aging structures in the region. Due to this trend, the consumption of plasticizers, adhesives, coatings and paints has been witnessing an uptick. Even though the lockdown restrictions associated with COVID-19 hampered the construction industry in Europe during 2020, the demand for houses could rise considerably from 2021, especially across European countryside. 

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Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Market definitions

1.2    Market assumptions & forecast parameters

1.3    Appendix

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

Chapter 2   Executive Summary

2.1    Europe Oxo Alcohol industry summary, 2015 - 2026

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4 Country trends

Chapter 3   Europe Oxo Alcohol Industry Insights

3.1    Industry segmentation

3.2    Industry outlook, 2015 - 2026

3.3    Value Chain

3.4    Regulatory overview

3.5    Market factor analysis

3.5.1    Growth drivers

3.5.2    Growth restraints

3.6    Competition review

3.7    Porter’s analysis

3.8    PESTEL analysis

3.9    Impact of COVID-19 on oxo alcohols demand by application

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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