2- Ethyl Hexanoic Acid Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Application (PVB Plasticizer, Synthetic Lubricants, Paint Driers, PVC Stabilizers, Emollients, Others), By Region and Competition

Global 2-Ethyl Hexanoic Acid Market is anticipated to expand significantly through 2028 due to the growing demand from the automotive and construction industry. The market for 2-Ethyl Hexanoic Acid is growing quickly, and it is becoming more popular than ever before in several industries due to its application as synthetic lubricants and coatings and production of coolants, windshield, and side glazing in the aerospace and automobile sector. 2-Ethyl Hexanoic Acid is a light-yellow mono-carboxylic acid with a mild odor and is used for the production of metal derivatives that are soluble in nonpolar organic solvents. According to the Government of Canada, at the current levels of exposure, 2- Ethyl Hexanoic Acid is not harmful to the general public's health.

The chemicals in 2-ethyl hexanoic acid are used to make emollients and skin conditioners for cosmetic purposes. It is frequently used in hair care products, body lotions, hand creams, foundation, concealer, and face creams. Increasing demand for polyvinyl chloride (PVC) stabilizers and Polyvinyl butyral (PVB) plasticizers in the form of metal salts is boosting the Global 2-Ethyl Hexanoic Acid Market. The rising demand from end-use industries, including adhesives and sealant industries, lubricants, corrosion inhibitors, construction, and automotive, is anticipated to drive the Global 2-Ethyl Hexanoic Acid Market in the projected period.

Increasing demand from the automotive sector

2-Ethyl Hexanoic Acid is extensively employed for the production of corrosion inhibitors, windshields, coolants and side glazing for automotive industries. The automotive industry is increasing rapidly with increasing developments, including new technologies, which are anticipated to drive the growth of Global 2-Ethyl Hexanoic Acid Market during the forecast period. The tremendous growth of the automotive industry in recent years can be largely attributed to the rising demand for personal vehicles and an expanding middle class with rising disposable incomes. Additionally, the market is shifting toward electric and hybrid cars as a result of the government's push for electric mobility and rising environmental awareness, which is therefore propelling the growth Global 2-Ethyl Hexanoic Acid Market. For instance, for a period of five years, EV projects will receive a complete exemption from energy tax on the power they purchase from Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO) or produce and use from captive sources.

Increasing demand from the construction Sector

2-Ethyl Hexanoic Acid has a huge demand in the construction market. Polyvinyl butyral plasticizer, which is a major constituent for the production of safety glass and sheet material for construction purposes, is produced from 2-Ethyl Hexanoic Acid. Apart from this, 2-Ethyl Hexanoic Acid is also employed for the production of alkyd resins, paint driers, and synthetic lubricants. With increasing government initiatives along with private spending in the construction sector, the Global 2-Ethyl Hexanoic Acid market is growing rapidly. Also, with the increasing population, the demand for the real estate development sector is increasing, therefore propelling the growth of Global 2-Ethyl Hexanoic Acid market. For instance, in India, the National Real Estate Development Council (NAREDCO) has enrolled more than 15,000 construction employees in the NIPUN project, which will certify more than 1.06 lakh people nationwide over the course of the year. Thus, increasing demand from the construction sector is likely to contribute to the growth of the market in the forecast period.

Recent Developments

• In October 2021, BASF Petronas Chemicals Sdn Bhd (BPC), a Malaysian joint venture between Germany's BASF and Petronas Chemicals Group Bhd (PCG), proposed to increase its capacity for annual production of 2-Ethylhexanoic Acid (2-EHA) from 30,000 to 60,000 metric tonnes by 2024.
• In December 2021, Oxea Chemicals added 30 percent to their company's total production capacity for carboxylic acids with a sixth world-scale production plant.
• In February 2023, Macrotech Developers will deliver 11,000 flats in 2023 as compared to 7,000 flats in 2022.
• The Housing and Urban Affairs Ministry in India has been given USD317.04 million as part of the Union Budget 2022-23 allocation for the construction of non-residential office buildings for the Central Vista project, including the Parliament and Supreme Court.

Market Segmentation

Global 2-Ethyl Hexanoic Acid Market is segmented based on application, region, and competitive landscape. Based on the application, the market is fragmented into PVB plasticizers, Synthetic Lubricants, Paint Driers, PVC Stabilizers, Emollients, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.

Market Players

BASF SE, Eastman Chemical Company, The Dow Chemical Company, Perstorp Holding AB, Oxea Corporation, Elekeiroz S.A., and KH Neochem Americas, Inc. are some of the key players in Global 2- Ethyl Hexanoic Acid Market.

Report Scope

In this report, Global 2-Ethyl Hexanoic Acid Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

2-Ethyl Hexanoic Acid Market, By Application:

• PVB Plasticizer
• Synthetic Lubricants
• Paint Driers
• PVC Stabilizers
• Emollients
• Others

2-Ethyl Hexanoic Acid Market, By Region:

• North America
  • United States
  • Mexico
  • Canada

• Europe
  • France
  • Germany
  • United Kingdom
  • Spain
  • Italy

• Asia-Pacific
  • China
  • India
  • South Korea
  • Japan
  • Australia

• South America
  • Brazil
  • Argentina
  • Colombia

• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global 2-Ethyl Hexanoic Acid market.

Available Customizations

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).