Oxo alcohols are manufactured by hydro-formulation reaction, in the presence of rhodium, as a catalyst. The resultant product is further hydrogenated to obtain oxo alcohols. The key factor driving the growth of oxo alcohols market is the consumers’ increasing dependency on polymer-based products.

Market Dynamics
The market will witness a huge demand from rising product consumption in end-users such as construction, automotive, electrical & electronics, etc. Moreover, the product consumption in packaging applications will witness a rapid growth, and this will provide an additional boost to the increasing demand for oxo alcohols.
Oxo alcohols find strong applications in refrigeration, air conditioning, chemical processing, paints & coatings transportation, lubricants and others such as consumer goods, etc. Consumer interest towards polymer-based products coupled with rising emphasis on cost-minimization practices should accelerate the market growth. Among all oxo alcohols, 2-ethylhexanol (2-EH), and n-butanol are the majorly consumed types, which would sustain the market growth during the entire forecast period.
The global oxo alcohols market will experience hindrance from fluctuations in the raw material prices and their availability, as these products crude oil derivatives. The crude oil prices are highly fluctuating from the past few years and may fluctuate in the coming years too. This may show some negative impact on the availability of oxo alcohols, along with price instability, thereby showing a negative impact on the market growth.

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By Product
By product, the oxo alcohols market has been segmented into 2-Ethylhexanol, N-Butanol, Iso-Butanol, and others. Among all products, N-butanol is expected to have the major market share compared to other products, mainly due to the increasing product consumption in the manufacture of plasticizers, paints, coating, adhesives, lubricant additives and various chemical products.

By Application
In terms of application, the oxo alcohols market has been segmented into plasticizers, glycol ether, solvents, adhesives, lube oil additive, and others, which include acrylates, acetates, etc. Plasticizers segment is predicted to have the lion’s share of global oxo alcohols market, and this will dominate the global market till the end of 2025. Solvents are expected to have the second-major share of global oxo alcohols market. This is majorly due to the consumption of oxo alcohol-based solvents in the manufacture of various chemical intermediates such as dehydrating agents, lacquers, etc.

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By Region
By region, the global market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific regional market is expected to lead the global oxo alcohols market in the entire forecast period, majorly due to the increasing product consumption in the production of polymers in countries such as China, South Korea, Japan, and India. North America witnesses a moderate growth rate, as the demand for oxo alcohols is stable in this region from the past few years.

Key Players
Prominent players in the global oxo alcohols market are Qatar Petroleum, Bax Chemicals, Dow Chemical Company, Eastman Chemical Company, ExxonMobil, BASF, LG Chem, Arkema, Andhra Petrochemical, Formosa Plastics, Oxea Group, and Evonik Industries among many others.

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