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Germany Oxo Alcohols Market growth will be driven by increasing demand in the automotive industry

Author : Ronak Bora | Published Date : 2019-04-03 

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.

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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.

China oxo alcohols industry 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.

Positive growth indicators in plasticizer industry due to strong demand from consumer goods, automotive and construction sector should drive global oxo alcohols market. Growing demand for solvents in formulating printing inks and additives for polish & cleaners also should complement product demand.

Growing consumer dependency towards polymer based products along with emphasis on cost minimization should bolster oxo alcohols market. Growing demand for n-Butanol and 2-Ethylhexanol in downstream application for production of 2-Ethyl Hexyl Acrylate and Di-2-Ethyl Hexyl Phthalate (DEHP) which are further used in petrochemical industry owing to enhanced fuel performance and lower emission rates.

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Iso-butanol based oxo alcohols market should witness gains at over 3.5% during projected forecast. This growth in demand can be attributed to positive application outlook in manufacturing of household & industrial coatings, adhesives, paints and wood varnishes. Products manufactured offer improved gloss & flow, good adhesion, weatherability and flexibility driving product demand.

Global oxo alcohols market share is moderately concentrated with key industry players including Dow Chemical, LG Chem, Sasol, Eastman Chemicals, OXEA, BASF Petronas and Grupa Azoty. Companies strategize on shifting their production plants towards South East Asia owing to strong demand and low production cost. They also form consortium, partnerships and mergers to expand their production capacity and regional presence.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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