The market for 2-ethylhexanol is expected to grow at a CAGR of less than 5% during the forecast period. Major factors driving the market studied are rising demand for plasticizers from, stringent regulations on industrial emissions.
- The untapped market of 2-ethylhexanol as a fuel and lube additive to act as an opportunity to the market.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as China, India, etc.
Key Market Trends
Increasing Demand of Plasticizers
- The largest application segment for the 2-ethyl hexanol market is the plasticizer, the plasticizer is further sub-segmented under phthalate and non-phthalate plasticizers.
- Phthalates, which are based on phthalic acid, are the main types of plasticizers used to cater to a broad range of processing and performance requirements of a large number of markets. Phthalates segment has accounted for over 50% of the global consumption of plasticizers.
- Non-phthalates are plasticizers that are free of phthalates. Non-phthalates include DOTP diethylehexyl terephthalate (DEHT), diisononyl cyclohexane dicarboxylate (Hexamoll DINCH), bio-based plasticizers, such as a line of soy-based plasticizers.
- Owing to their ability to decrease the viscosity, improve the flexibility, durability, longevity, and utility of the material to which they are added, plasticizers are widely adopted in various industrial applications.
- Plasticizers are mostly used in industrial applications, such as construction/remodeling, automotive production, and original equipment manufacture (OEM).
- The surging demand for end user, such as the construction industry, is further helpful in fueling market growth for plasticizers, which in turn drives the demand for global 2-ethylhexanol market in the near future.
Asia-Pacific to Drive the Market Growth
- Asia-Pacific held the largest share in the 2-ethyl hexanol market. In the Asia-pacific, China alone accounts for almost half of the regional 2-Ethylhexanol Market share.
- The demand for 2-ethyl hexanol in the region is majorly driven by the growing demand for plasticizers in emerging economies, like China, India, Vietnam, and Indonesia. It even registers the second-highest growth rate in the global 2-ethyl hexanol market.
- For instance, China is globally recognized for its architectural boom. The demand for low-cost housing and commercial housing is the reason for its growth in recent years. Under the 13th five-year plan, the government of China is rapidly increasing infrastructure for railways, highways, waterways, airports, and urban rail.
- Also, China is the largest producer of the automobile in the world, with the presence of manufacturing bases of almost all the leading automobile companies. The Chinese automotive industry recorded a negative growth rate in 2018 and 2019. However, with upcoming projects on hybrid and EV vehicles, the automotive sector in China will see an upsurge in growth rate over the years.
- The electronics manufacturing industry is continually shifting toward China, as a result of low cost and increasing demand for electronics products. Growing household income in the country has led to increasing demand for electronic products.
- The large market size, along with the significant growth rate of Asia-Pacific, is quite instrumental in expansion of the global 2-ethyl hexanol market.
The global 2-ethylhexanol market is a consolidated market. The major companies include BASF SE, China Petrochemical Corporation (Sinopec), Dow, Eastman Chemical Company, and SABIC, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support