Sales of 2-Ethylhexanol Market Is Expected To Reach a Valuation of US$ 13 Billion by 2032, Mentions Fact.MR
Global Demand For 2-Ethylhexanol Is Being Fueled By A Considerable Increase in the Usage of Plasticizers for Construction, Automobiles, Plastic, Rubber, and Pharma Industries
Rockville, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The 2-Ethylhexanol Market revenues were estimated at US$ 6.5 Bn in 2021 and is anticipated to grow at a CAGR of 6.8% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 13 Bn.
The key revenue drivers which affect the demand for 2-Ethylhexanol include an increase in the demand of plasticizers, acrylate, nitrate and strict industrial emissions laws in various countries.
The key application for 2-Ethylhexanol Market include Plasticizers where the rise is seen due to the increase in the market for flexible polyvinyl chloride. The market for plasticizers is also increasing due to the increase of 2-Ethylhexanol usage in various industries such as rubber, paints, pharmaceutical and construction. Besides, the market is also increasing due to the increased public awareness about non-phthalate plasticizers.
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Key Takeaways from the Study
• 2-Ethylhexanol Market was valued at US$ 6.5 Bn in 2021. According to Fact.MR, 2-Ethylhexanol Market revenue would increase 1.9X between 2022 and 2032, reaching roughly US$ 13 Bn in 2032.
• In terms of Application, Plasticizers application is projected to account for the highest projected CAGR of over 5.5%.
• In terms of region, North America accounted for the largest market, growing at a CAGR of 5.6% during 2017 – 2032.
• US is the dominant country in 2-Ethylhexanol Market with an absolute dollar growth opportunity of over US$ 1.8 Bn. Behind U.S., the market in China is expected to register an absolute dollar growth of US$ 988.3 Mn.
2022 - 2032
Value Projection (2032)
US$ 13 Billion
Growth Rate (2022-2032)
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Some of the key players operating in the 2-Ethylhexanol Market include The Dow Chemical Co, BASF SE, Eastman Chemical Company, Mitsubishi Chemical Corporation, LG Chem Ltd, Sigma-Aldrich, SABIC Industries, Grupa Azoty, Zak S.A., and Formosa Plastic Group.
Some of the recent developments in the 2-Ethylhexanol Market are:
In September 2021, Arkema was purchased by US-based food company Cargill Inc for an undisclosed sum. The company will be able to offer a wider range of products to its customers in the plastics, automotive, medical, furniture, flooring, and specialty chemicals industries as a result of this combination of Arkema's production capabilities and Cargill's bio-industrial knowledge.
In January 2019, The Adani Group and BASF have formed a joint venture to build a Rs 16,000 crore factory in Gujarat's Mundra to serve the petrochemical market. With this investment, production facilities for oxo-C4 (butanols and 2-ethylhexanol), propane dehydrogenation (PDH), glacial acrylic acid (GAA), and other downstream products were built, developed, and operated.
The Dow Chemical Co
Eastman Chemical Company
Mitsubishi Chemical Corporation
LG Chem Ltd
Formosa Plastic Group
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2-Ethylhexanol Industry Segmentation
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the 2-Ethylhexanol Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in 2-Ethylhexanol Market in terms of Application (Plasticizers, 2-EH Acrylate, 2-EH Nitrate, Catalyst and Other Applications) and in terms of Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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