Persistence Market Research (PMR) recently published a revised market research study on the 2-ethylhexanol, titled, ‘2-Ethylhexanol Market – Global Industry Analysis 2014-2018 and Forecast 2019-2029”. The research study displayreport offers the global market growth outlook for 2-Ethylhexanol over the forecast period of 2019-2029. According to the report indications, global 2-ethylhexanol market is likely to account for ~US$ 8.6 Bn by the end of the assessment year 2019, and is estimated to expand at a promising CAGR during the forecast period.
Among the delivery forms of 2-ethylhexanol, the flexitanks are expected to see noteworthy growth, owing to a rapid surge in the demand for low volume deliveries of 2-ethylhexanol locally, thereby contributing to the relatively high demand for flexitanks over the forecast period.
Key applications of 2-Ethylhexanol as an intermediate for plasticizer manufacturing and as a solvent are expected to drive the consumption within the chemical intermediates & solvents category. Paints & coatings industry will also retain its market share over the forecast period. In terms of geographical outlook, Asia Pacific is projected to be a significant region for the 2-ethylhexanol market, and is estimated to grow at a healthy CAGR through 2029.
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According to the report, the demand for 2-ethylhexanol is expected to be driven primarily by the rise of chemical industries, agrochemical industries, growing metallurgy activities, urbanization, and the increasing demand from other end use industries. Furthermore, massive demand from automotive original equipment manufacturers (OEMs), automotive refinishing service companies, construction companies, general industrial manufacturers & maintenance service providers, marine service companies, manufacturers of cans, coils, and wood & transport industries will contribute to the demand for coatings & paints, which, in turn, will augment the demand for 2-ethylhexanol.
Bulk Containers’ Transport Economy Gaining Preference
2-ethylhexanol is transported across large distances domestically as well as in the form of export consignments in the most economical way through liquid bulk transport. This is on account of very large volumes using bulk containers, which render the lowest possible costs per ton of 2-EH transported. This has been translating into preferential use of bulk container transport of the chemical wherever practically feasible, vis-à-vis the other modes of 2-ethylhexanol delivery.
Asia-Pacific and North America to be the Top Revenue Pockets
Geographically, Asia Pacific and North America are picking up the pace in the global 2-ethylhexanol market, owing to expansion of industrial infrastructure and upsurge in chemical industries over the years. The demand for 2-ethylhexanol is majorly driven by the its applications in various sectors such as coatings and paints, agrochemicals, metallurgy extraction activities and chemical intermediates and solvents, driven by growth in global GDP. Moreover, stable economic growth in developing countries such as India, Brazil, China, and ASEAN countries, and rising urbanization and expenditure in these regions, acts as the major growth factors that are propelling the growth of the 2-ethylhexanol market.
Furthermore, the Asia Pacific region is also expected to remain the most attractive region in terms of market attractiveness by market share index, on account of the largest volumes of 2-ethylhexanol consumptions expected by the region, over the forecast period, mainly driven by China. A high growth rate due to considerable industrial activity in the region is expected to contribute to the rising demand. North America is expected to hold a significant market share in terms of both value and volume after Asia Pacific region, owing to growing chemical industry and infrastructural developments in the region.
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Vendor Insights: Global 2-Ethylhexanol Market
The global 2-ethylhexanol market highlights some of the key market participants operating in the global 2-ethylhexanol market, such as BASF SE, LG Chem Ltd., Eastman Chemical Company, OXEA GmbH, China Petroleum & Chemical Corp (Sinopec Corporation), Grupa Azoty S.A., Nan Ya Plastics Corp., SABIC, INEOS Holdings Limited, Perstorp Orgnr, Mitsubishi Chemical Corporation, Henan GP Chemicals Co.,Ltd, Ltd, Sibur, Mosselman SA, Sigma-Aldrich Co. LLC, Oltchim S.A., Elekeiroz S.A., Tianjin Bohua Yongli Chemical Industry Co., The Andhra Petrochemicals Ltd., Shazand Petrochemical Company, among others. Key strategies are the expansion of production capacities and focus on mergers and acquisitions to increase their global and regional footprint in the 2-ethylhexanol market.