Global 2-Ethylhexanol Market Size Forecast 2024 - 2033
16 May, 2024
The 2-ethylhexanol market has demonstrated substantial growth, increasing from $5.56 billion in 2023 to $5.97 billion in 2024, with a compound annual growth rate (CAGR) of 7.3%. This growth is rooted in various sectors such as plasticizers production, coating and paint industry, plastic production, surfactants and detergents, and chemical intermediates. Projected expansion anticipates reaching $7.85 billion in 2028 with a CAGR of 7.1%, driven by factors like escalating usage of cleaning products, a shift towards green chemistry, global economic factors, regulatory changes, and increased demand for adhesives. Major trends include quality paints and coatings, industrialization in developing markets, adhesives and sealants usage, automotive sector utilization, and surfactants for detergents.
Major Driver In The 2-Ethylhexanol Market
The 2-ethylhexanol market is set to benefit from the expanding automotive industry. This sector encompasses various aspects of vehicle production, distribution, and maintenance. The flexibility, strength, and durability of 2-ethylhexanol make it a valuable component in plasticized PVC used in automobiles, thereby increasing its demand. For instance, in December 2021, the US produced 9.17 million units of motor vehicles, as reported by CEIC Data. Consequently, the automotive industry's growth is fueling the expansion of the 2-ethylhexanol market. The market experienced significant growth in 2023 due to rising demand from the automotive sector, and this trend is expected to continue in 2024.
Request A Free Sample Of The Global 2-Ethylhexanol Market Report2-Ethylhexanol Market Competitive Landscape
The Dow Chemical Company, BASF SE, Eastman Chemical Company, Saudi Basic Industries Corporation, Grupa Azoty S.A., Mitsubishi Chemical Corporation, LG Chem Ltd., Tianjin Bohua Yongli Chemical Industry Co. Ltd., Henan GP Chemicals Co. Ltd., Mosselman S.A., Oltchim S.A., Sigma-Aldrich Co. LLC, SIBUR International GmbH, Elekeiroz S.A., Shazand Petrochemical Company, The Andhra Petrochemicals Ltd., Azotowe KATMdzierzyn, Formosa Plastic Group, Merck KGaA, Meryer (Shanghai) Chemical Technology Co. Ltd., OQ Chemicals, Sinopec, Shandong Jianlan Chemical, China National Offshore Oil Corporation, INEOS Group, Sasol Limited, ExxonMobil Chemical, Evonik Industries AG, Shell PLC, Mitsui Chemicals Crop & Life Solutions Inc., PJSC SIBUR Holding
Key 2-Ethylhexanol Market Trend
In the 2-ethylhexanol market, the primary trend driving popularity is product innovations. Major companies within this market are concentrating on pioneering applications of 2-ethylhexanol to bolster their market standing. For example, in June 2022, Perstorp, a Swedish chemical industry player, unveiled a novel grade of 2-ethylhexanol, derived mainly from 25% renewable raw materials following a traceable mass balance concept. This innovative product represents the world's first instance of 2-ethylhexanol partially sourced from renewable organic substances, reinforcing Perstorp's position as a sustainable solutions provider meeting the rising demand for more eco-friendly alternatives across various applications.
Get The Full Global 2-Ethylhexanol Market Report2-Ethylhexanol Market Segmentation
The global 2-ethylhexanol market covered in this report is segmented –
1) By Type: Sapphire, Ruby, Emery
2) By Delivery Form: Bulk Containers, Flexitanks, Drums Or IBC(Intermediate Bulk Containers)
3) By Application: Plasticizers, Non-phthalate, Phthalate, 2-EH nitrate, 2-EH acrylate, Other Applications
4) By End-User: Paint And Coatings, Adhesives, Chemicals, Building And Construction, Other End Users
By Geography:The regions covered in the 2-ethylhexanol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the 2-ethylhexanol market in 2023.
The 2-Ethylhexanol Global Market Report 2024 furnishes information about the global 2-ethylhexanol market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.