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U.S. Oxo Alcohols Market size to witness substantial gains over 2019-2024, surging demand from construction remodeling industry

Author : Ronak Bora | Published Date : 2019-05-29 

U.S. oxo alcohols market size will impart strong gains surpassing USD 3.5 billion due to its seasonal boost in coatings demand for construction remodeling industry. Recent increase in federal infrastructural spending and tax cut in the country along with huge crude oil production & refining capacity should reinforce regional industry demand.

China oxo alcohols market should grow at significant pace due to extensive product demand for coatings & paints and varnishes from construction spending. Low production cost owing to lenient regulatory regimes & low-cost labor should bolster regional industry growth.

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Germany oxo alcohols market should surpass USD 1.2 billion by 2024 owing to strong lubricant demands from growing regional automotive industry. Rising automobile production rates and widespread regional OEM bases should compliment product demand. Stringent emission control regulations should further strengthen regional industry growth.

Key feedstock materials used for commercial production are ethylene, propylene and acetylene. These raw materials are derived from crude oil and any price fluctuations in crude oil index might impact industry profitability and supply dynamics driving oxo alcohols price upsurge.

Oxo alcohols industry from acrylate application should witness growth at over 4% during forecast timeframe owing to its demand as intermediate in textile, automotive and flexible packaging industry. Increasing disposable income, infrastructural development and changing lifestyle should complement product demand.

Oxo alcohols market from plasticizers application should grow significantly surpassing USD 9 billion by 2024 due to strong product demand from plastic and polymer industry. Adding plasticizers in polymers increase viscosity, plasticity and reduces molecular attraction between polymeric chains increasing flexibility & durability.

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N-butanol market demand will show strong growth rates of over 5% by 2024 because of its extensive use for producing perfumes, paints, coatings, dye, synthetic resins and alkaloids. It also performs as a competitive renewable biofuel for use in combustion engines overcoming drawbacks from low carbon alcohols and bio-diesel with reduced emission and enhanced performance.

Oxo alcohols market share is competitive and moderately concentrated including industry players like BASF, LG Chem, Eastman Chemicals, Dow Chemicals, BAX Chemicals and Evonik. These market participants strategize on expanding their regional presence along with gaining technological advantage through partnerships, mergers & acquisitions. Companies are keen to shift their production bases in the regions with ample feedstock supply thus reducing production cost.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org 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. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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