Escalating demand of coatings in construction and expansive growth of the construction industry are anticipated to boost glycidyl methacrylate market size over 2019-2025. Efforts by the glycidyl methacrylate industry players to expand business and revenue share will support market growth. Manufacturing units and printing sectors that extensively use the chemical compound for its excellent properties are also expected to contribute in the expansion of glycidyl methacrylate market.Some of the top trends which will influence the glycidyl methacrylate market by 2025 are mentioned below:
Printing sector is likely to offer impetus to the glycidyl methacrylate market outlook over the forecast period:
Global printing ink application market size from the <97% purity segment exceeded $2.15 million in the year 2018. The expansion of glycidyl methacrylate market can be credited to significant population growth and growing glycidyl methacrylate uses from packaging and paper media. Glycidyl methacrylate is extensively used as a latex binder and adhesive in printing ink production. In times to come, the printing sector is expected to prove itself a strong end user for glycidyl methacrylate adding significant growth impetus to glycidyl methacrylate market.
For instance, in India, paper printing has been noted to be one of the fastest growing sectors. It has been claimed that since 1989 the growth of printing coupled with packaging printing sector is more than 14%. India has 49,000 publications from which annual revenues totals to around $1.1 billion.
The Indian printing sector, growing at a rate of 12% per annum, comprises more than 250,000 printing companies. The current annual turnover of printing industry in India is over $11 billion. Incidentally, India is the country with largest number of printing presses in the world.
In recent years, the printing sector in India has witnessed record levels of growth, due to globalization, progress in automation, and liberalized regimes. The segment has grown by leaps and bounds due to the introduction of latest machinery and technology, production capacities, and quality standards. Also, the Indian government has been encouraging foreign direct investment into the printing sector. A number of global companies have been investing in the printing sector due to favorable working conditions.
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According to the prominent studies, publishing printing, commercial and marketing printing, and print packaging, are some of the supporting domains which account for a majority of the worldwide printing market. With the contribution of all these domains, printing industry has been projected to expand from $389 billion in 2017 to $421 billion in 2020, increasing 2.7% on average per year, a growth which is projected to reflect on revenue share of glycidyl methacrylate market as well.
Auto production will influence glycidyl methacrylate market growth in future:
Global manufacturing unit glycidyl methacrylate market share from >=97% purity segment will surpass $95 million by 2025 owing to the thriving automotive, electrical & electronics, food & beverage, metals, and chemicals sector. Wide usage of glycidyl methacrylate in automotive sector is going to significantly promote the growth of glycidyl methacrylate industry by 2025 as the automotive industry continues to expand.
For instance in America, automobile production of 20.8 million units in 2018 represents a 21% share of the global production. In Mexico and the United States, production remains high owing to demand for light duty trucks (+4%). In South America, Brazil has represented significant contribution towards automotive industry with 5% growth.
Also, Asia-Oceania still represents more than half of the global production with auto production of 52.5 million units. The African continent shows a marked growth of 12%, to 1.8 million in 2018 with the substantial contribution of Algeria (+17%), South Africa (+4%), and Morocco (+18%).
The U.S. glycidyl methacrylate market share from <97% purity segment is expected to register a CAGR of 9.5% over 2019-2025. The growth of the regional glycidyl methacrylate industry can be accounted to adhesive applications pertaining to rising demand for composite joints from automotive, aerospace and consumer packaging segments.
Glycidyl methacrylate market players are working to expand their footprints:
With considerable efforts of glycidyl methacrylate industry majors to expand their market share worldwide, the business has been experiencing significant progress. Companies have been planning various strategies like, acquisitions, launching new products and plants, market flotations etc. to spread their business globally.
For instance, in 2018, Dow Chemical Company announced the launch of its coating materials plant in western China. The new facility, situated in the Cheng Mei Petrochemical Zone, around 50 kilometers from Chengdu, would be producing additives and acrylic emulsion to answer the growing demand of architectural, constructional and industrial coating segments.
Expanding printing sector owing to not only publication but growth of ecommerce, growing automobile production and increasing application of glycidyl methacrylate in these segments is among the factors affecting glycidyl methacrylate industry. According to a latest research report by Global Market Insights Inc., glycidyl methacrylate market share is set to exceed $250 million by 2025.
Author Name : Anchal Solanki
Touted as an essential component across a slew of household and industrial applications, glycol ether market size has increased with concurrent expansion of the chemicals, cosmetics, personal care, paints and pharmaceutical sectors worldwide. As a vast number of products manufactured in these segments are water-based, effective solvents are needed to ensure their stability, shelf life and performance. Supposedly, a variety of product formulations and element combinations would not be possible without the presence of glycol ethers to support their reactions.
U.S. Ethylene Glycol Propyl Ether (EGPE) Market Size, By Application, 2018 & 2025, (Kilo Tons)
Glycol ethers are applicable in the production of electronics and rubber products, while paints and coatings utilized by automotive OEMs represent a vital segment where glycol ether industry share could witness steady expansion in the years to come. Painting of vehicles represents one of the most critical coating applications, with end products ranging from passenger cars and bikes to all kinds of trucks. Basecoats or clearcoats and topcoat enamel finishes are applied by OEMs during assembly using various paint systems, and glycol ether-based solvents are now being preferred due to their high solvency and evaporation rates.
Suitable coatings provide various aesthetic benefits like enhanced shine and color, along with protecting against UV rays which can fade the exterior paint of a vehicle. Considering few other advantages of these solvent-based coatings and the number of vehicles produced each year, glycol ether market is poised to witness steady demand over the coming years. Evolving automotive sector, which is highlighted by increased preference towards more eco-friendly production processes, will further strengthen the industry outlook.
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Asia-Pacific (APAC) region boasts of the largest population base as well as some of the fastest growing economies in the world. Not only has the region produced many leading automakers, but car companies form Europe and North America have also established a significant operational presence in the area. Unsurprisingly, auto manufacturing has provided a major boost to the economic growth and created tremendous opportunities for other business verticals, including glycol ether industry.
Referring to data released by the OICA, in 2018 China, India and Indonesia had manufactured more than 34.3 million vehicles combined, indicating the vast prospects benefiting the supportive industries in the region. Driven by rising disposable incomes and the development of more fuel efficient vehicles, the automobile segment in the region can be expected to grow at a considerable pace, in turn generating increased demand for effective paints and coatings. Subsequently, the segment could lead to augmented consumption of glycol ether solvents in APAC over the forecast period.
China’s state-owned automobile company, SAIC, had confirmed in late 2018 that a new $2.5 billion plant in Shanghai would be built under its joint venture with Volkswagen AG, where the German carmaker’s Audi branded vehicles will be produced. Production at the facility, having a 300,000 annual capacity, is likely to commence from 2020. In addition, SAIC had unveiled recently that it could invest nearly $350 million in India for setting up another manufacturing unit in the country for its MG brand. Similar expansion plans will drive glycol ether market outlook favorably from the paints & coatings segment.
The advent and growing popularity of electric cars (EVs) could reinvigorate glycol ether industry trends, since these vehicles are fast replacing their combustion engine predecessors on assembly lines and on the roads. Accelerated production of EVs globally will simultaneously propel the demand for glycol ether-based solvents to ensure that high-performance and efficient coatings are applied to them, which additionally provide other chemical benefits. For instance, Chinese firm BYD recently signed a deal with an Australian company to build EVs in Adelaide by 2020.
Evidently, a broad application scope and a fast growing automotive sector will significantly foster the consumption of glycol ether based paints and coatings. Globally, glycol ether market size is predicted to exceed $8.5 billion in annual revenues by 2025, outlined by the presence of key industry participants like Exxon Mobil, BASF SE, Dow Chemical, SABIC, Shell and HanNong Chemicals.
Author Name : Pankaj Singh
How will the latest moves by core industry players influence the revenue prospects of plastomer market?
The global plastomer market is projected to amass substantial gains in the ensuing years, primarily driven by the boom in the packaging industry together with improved characteristics of plastomers compared to conventional plastics and elastomers. Plastomers are polymers which bridge the gap between elastomers and plastics. Plastomer industry thus, is known to procure substantial returns from a plethora of industries including adhesives, foams, industrial packaging, food packaging, automotives, wires & cables, and others.
U.S. Plastomer Market Size, By Application, 2014 – 2025 (USD Million)
Taking an example from the adhesive industry, the Dow Chemical Company’s Affinity™ GA Polyolefin Plastomers, a highly versatile range of polyolefin polymers, offers a host of cost, performance, and processing advantages such as no char, odor, or discoloration during application, as well as no clogging, plugging, or other oxidation-related device issues.
Adopting Affinity™ GA Polyolefin Plastomers result in reduced maintenance, amplified versatility, and increased coverage & more adhesive per pound of resin. Hence, the wide spectrum of advantages offered by plastomers across a range of applications will endorse product demand over the coming years.
Plastomer market size, however, is slated to be affected by the slow growth of the packaged food industry in several geographies, along with tough competition from other polymers. According to credible estimates, the share of groceries in packaged food sales in 2015 was 45 percent, which is expected to plunge to 37 percent in the year 2025. The decline in the consumption of packaged food will certainly influence plastomer market trends in the future and restrain market growth to some extent.
Enumerating the top three recent developments of the plastomer market which are projected to influence the growth graph of this business sphere
Healthcare industry gets its first controlled plastomer solution
Borouge and Borealis have recently introduced ethylene-based, octene-1 plastomer solution called the Bormed™ PL8830-PH, at CPhI in Madrid, the world’s biggest pharmaceutical exhibition. Bormed™ PL8830-PH is claimed to be the first-ever controlled plastomer solution for the health industry, and has been developed as a part of the expansion of the Borealis Bormed™ brand portfolio.
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Being a controlled plastomer, Bormed PL8830-PH amplifies the performance paradigms of polyolefins for healthcare applications. It has been explicitly designed to be used as a versatile blend with other polyolefins in extrusion, film, and moulding applications. Indeed, such innovations will define plastomer market trends in the future and open new growth avenues for market players.
CHINAPLAS 2019 witnesses a range of innovative solutions by SABIC
SABIC, a world leader in diversified chemicals, has reportedly introduced a range of innovative solutions at the recently held Chinaplas 2019, to cater to industry challenges arising from prime global megatrends.
The event witnessed SABIC’s new comprehensive solution for the food sector, named as COHERETM S POP (polyolefin plastomer), designed to offer strong support in handling the future food supply issues. It is claimed that COHERETM S POP supports superior performance with twenty percent decrease in sealing temperature. Food manufacturers can rely on the new polyolefin plastomer to enhance the efficiency of their production, augment the shelf life of food products, and decrease the damage during transit.
Holland adds Borealis’ polyolefins to its product range
M.Holland Co., a resin distribution company, has recently added offerings from the world’s leading polyolefins brand Borealis to its distribution product portfolio. Henceforth, M. Holland will look after the distribution of polypropylene and polyethylene resins, filled PP compounds, elastomers, and polyolefin plastomers for Borealis AG.
The filled PP materials which are a part of the new distribution channel will be produced at Borealis’ new manufacturing site in N.C. This strategic alliance is slated to support the growth of both the companies in target markets, thereby positively impacting plastomer market size over the future.
In the coming years, it will be interesting to see how these market developments impact the revenue graph and competitive ambit of the global plastomer industry. Some of the top companies to watch out for in the plastomer market are Royal Dutch Shell, ExxonMobil, Borealis, Dow Chemical Company, Saudi Basic Industries Corporation (SABIC), Chevron Phillips Chemical Company, Westlake Chemical Corporation, and LyondellBasell. According to a research report by Global Market Insights, Inc., plastomer market is projected to exceed a valuation of USD 3.1 billion by 2025.
Author Name : Nikita Chaurasia
Fluorinated ethylene propylene market to garner appreciable valuation from tube sales over 2019-2025, chemical processing industry to drive the application landscape
The global fluorinated ethylene propylene market is slated to experience immense growth prospects in the coming years owing to the product’s extensive use across the automotive, electronics, food & beverage, and medical industries. In the automotive sector, FEPs are widely used in compact and small-sized cars, in the tubing, bellows, and pressure hoses. The increasing shift among car buyers from sedans to more compact cars, especially in emerging economies will thus propel the growth of FEP industry.
U.S. Granules Fluorinated Ethylene Propylene (FEP) Market Size, 2018 & 2025, (Kilo Tons)
Small cars are also the most affordable vehicles to get on to the road and are easy to park as they don’t take up much space. For a middle-class family in emerging nations, a compact car facilitates savings since they are more fuel-efficient compared to sedans and SUVs. Hatchbacks also serve as the best option, in terms of passenger and driver safety with advanced collision control at affordable prices. In 2018, car manufacturers in India invested heavily on small cars to enhance sales records in smaller parts of the country.
For instance, Hyundai, relaunched its most loved hatchback Santro to appeal to Tier 1 and 2 cities where per capita vehicle ownership is still significantly small. Therefore, increasing demand for small vehicles from emerging and low-to-middle income nations will boost the global FEP market outlook.
Growing product demand for automotive ball bearings, paints, and adhesives, and sealants from the construction sector will also help the global FEP market gain traction in the coming years. Latest data from The Bureau of Labor Statistics and Timetric’s Construction Intelligence Center, estimates the construction industry to grow at a modest rate over the next several years. Industry professionals further predict one of the largest increase in real output for the construction space, with the business hitting the trillion-dollar remuneration space by 2020. This would remarkably surge the need for adhesives and sealants, driving FEP industry share.
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Construction of residential housing will witness growth in the years to come owing to the rising population in the United States. Government spending to support homeownership, housing developments and a sustainable community in a bid to provide access to affordable housing will further increase the demand for construction projects. The development in the construction industry will massively boost the demand for paints, adhesives, and sealants, which will eventually drive the fluorinated ethylene propylene market in the coming years.
Fluorinated ethylene propylene tubing is a robust engineering fluoropolymer which offers excellent fluid visibility, low-temperature resistance, and low coefficient of friction and is perfect for flow control monitoring. Hence, the product finds significant use in chemical processing applications as well as the petroleum and oil & gas industry.
For instance, the Indian government has come out with new policy reforms, which makes drastic changes in the country’s Hydrocarbon Exploration Licensing Policy and the Open Acreage Licensing Policy in a bid to garner more domestic and foreign investment for exploration of oil and gas, which if successfully implemented could drive the demand for FEP tubes. According to a report by Global Market Insights, Inc., FEP tubes market from chemical processing application is estimated to register more than 6% over 2019-2025.
These materials are also commonly used in solar panel applications. Fluorinated ethylene propylene films serve as the perfect protective front sheet for solar panels due to their smooth, flexible and light-weight features. The material also makes sheets stronger, thereby improving the durability and life span of solar panels, while enhancing its looks as compared to traditional glass. The adoption of these glasses will be fueled by growing energy consumption and issues concerning energy-efficiency.
Increasing efforts to generate energy from renewable sources, stringent government regulations and the benefits pertaining to efficient energy use and affordability of solar panels will further propel the solar power industry. Recently, in an effort to become America’s leading rooftop solar company, automotive and energy giant Tesla, slashed prices of solar panels. Such moves will accelerate the adoption of solar energy, which will boost the demand for FEP films, thereby driving the global FEP market growth over 2019-2025.
Fluorinated ethylene propylene will continue to attract huge demand from numerous industries owing to its vast benefits. According to Global Market Insights, Inc., the fluorinated ethylene propylene market valuation is anticipated to reach $1.2 billion by 2025.
Author Name : Krithika Krishnan
A succinct outline of the global industrial solvents market in terms of the application landscape: paints & coatings to emerge as a prominent revenue ground
The global industrial solvents market is anticipated to make promising gains in the forthcoming years, on account of burgeoning demand for printing inks, paints & coatings, and cosmetics products across the globe. In addition to this, industrial solvents are also widely used in the pharmaceutical sector, impelling the industry share. For instance, pet shampoos utilize solvents to dissolve a medicinal drug for topical treatment, provide moisture, and soften animal hair & skin.
U.S. Oxygenated Solvents Market Size, By Application, 2017 & 2024, (Kilo Tons)
Industrial solvents are often used to dissolve ingredients and empower various solutions & manufacturing processes. They offer additional value in cosmetics, paints & coatings, adhesives, and lubricants because of their high solvency rate. For instance, Isopropyl alcohol is a multi-use solvent, which is often used as disinfectant in homes, and as an industrial solvent to dissolve substances, such as resins and oils, in production processes across various industries. The growth in manufacturing sector coupled with favorable regulatory outlook, especially in emerging economies, would positively favor industrial solvents market growth in the ensuing years.
The paragraphs below explore the growth prospects of the industrial solvents market with respect to the application landscape:
Paints & Coatings
The global paints & coatings market is anticipated to witness an upswing in terms of revenue in the approaching years, due to rising adoption across the building and construction sector. The paints & coatings industry is one of the biggest consumers of industrial solvents, attributable to the capability of solvents to disperse or dissolve the components in paint formation, to create paints of the desired consistency and eliminate globs or clumps. Apart from the construction sector, paints and coatings are widely used in the automobile industry. For instance, glycol ether esters are at times added to certain spray paints to avoid drying up in mid-air. The slow-paced evaporation of this powerful solvent group enables cars and other vehicles to get a smooth and flawless paint application for an appealing and durable finish.
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In addition to the factors mentioned above, it is important to note that no single solvent has the capability of dissolving all of the film-forming ingredients employed in contemporary coatings. The application of optimal thinners and reducers is usually needed, which consists of blends of various solvents, wherein each can dissolve one or more ingredients within a given coating formula. This has been leading to increased product usage per application, thereby considerably contributing towards industrial solvents market growth.
Numerous printing inks, used worldwide to print everything from books to food packs and labels, rely heavily on industrial solvents for accurate application to attain the vivid colors. In printing inks applications, solvents are implemented to regulate viscosity and permit flow without harming printing rollers. As with paints and coatings, solvents advance drying for contemporary fast-paced printing presses.
Printing inks applications have leveraged the potential of industrial solvents in a number of ways. For instance, the use of smudge-resistant ink in newspapers means no more finger staining and illegible print. Speaking of computer printer inks, they dry really very fast and are highly smudge resistant. Thus, the wide application spectrum of printing inks and brisk advancements in ink technology will create a powerful launch pad for industrial solvents market to reach new heights.
Cosmetic and Fragrances
The cosmetic industry relies heavily on industrial solvents to dissolve ingredients and increase the efficiency of products. Industrial solvents are widely used in lotions, shaving creams, face creams, and talcum powders to maintain the consistency of the product. For instance, Ethanol is hugely preferred by perfume companies as their solvent of choice due to its low odor. Indeed, the low boiling point of ethanol allows the solvent to evaporate rapidly and does not let it remain on the skin.
Likewise, acetone or Ethyl acetate is an important ingredient of nail paints and is especially looked upon for its fast-drying potential. Besides, it also finds applications in nail paint removal products, owing to its high solvency characteristic which enables the nail paint to be removed easily from the nail. Amidst this backdrop, it is prudent to mention that industrial solvents market share will soar high in the years to come, because of abundant product demand from cosmetic and fragrances applications.
Having realized the immense potential of the industrial solvents market, prominent companies such as Shell, Arkema, Honeywell, BASF, and Total have made considerable investments in R&D programs and product innovation to serve the evolving consumer demand better. Powered by the rapid expansion of the paints & coatings applications in tandem with growing infrastructure industry, the industrial solvents market is projected to attain commendable gains in the approaching years.
Author Name : Nikita Chaurasia
North America soy chemicals market to emerge as a pivotal regional contender over 2018-2024, escalating demand for soy-based food products and medicines to fuel the industry expansion
Pertaining to the surging importance of soybean pertaining to its many medicinal benefits, soy chemicals market has emerged as one of the most profitable spheres of the healthcare cosmos. Experts assert that the consumption of soy can lead to a reduction in cardiovascular diseases, breast cancer, as well as cosmetic and dermatological problems. In addition, soy injections help patients with diabetes mellitus to improve metabolism. Considering the nutritional benefits of soy, most of the nutritionists have been encouraging the consumption of soy and its food derivatives that has resulted in the demand upsurge for soy-based drugs and food products on a large scale. On these grounds, several medical companies have been developing soybean oil-based medicines, providing a push to soy chemicals market trends.
U.S. Soy Polyols Market Size, By Application, 2017 & 2024, (Kilo Tons)
Nowadays, several restaurants and food companies have been making tall claims about having incorporated heart-healthy oils in their products such as dressings, bottled oils, baked goods, snacks, and dips to attract more consumers who have been trying to reduce the inclusion of saturated fat in their diet. The U.S. is one of the largest producers of soybean, accounting for more than 30 percent of worldwide production. In America, soybean is one of the most used ingredients owing to its health potential. In this regard, the U.S. Food and Drug Administration (FDA) has been providing suitable support to pharmacies and biomedical companies that have been involved in the development of soybean oil-based medicines for reducing the risks associated with coronary heart disease and cancer.
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Recently, the agribusiness and food ingredient company, Bunge North America received an approval from the U.S. FDA for its claim related to the consumption of soybean oil and its connection to coronary heart diseases. With its versatile portfolio, Bunge is continuously striving to disseminate the importance of soybean oil and its health benefits. Moreover, facilitated with in-depth scientific and clinical research, Bunge is looking forward to strengthening its business with strategic acquisitions and joint ventures. The growing North America soy chemicals industry is slated to generate such attractive business opportunities for players such as Bunge over the years ahead. Indeed, driven primarily by Canada, U.S., and Mexico, North America soy chemicals market, claim estimates, will register a CAGR of more than 5% over 2018-2024.
In order to target the leading consumers of soybean and its food products, globally renowned companies have been establishing suitable partnerships to commercialize their activities by reducing import costs. Validating the aforementioned fact, on February 2018, Cargill and Archer Daniels Midland company formed a JV to supply soybean meal and oil across Egypt. This JV has also acquired the crush plant of the Egypt based oil company located in Borg Al-Arab. In addition, Cargill also has been investing to expand its daily crush capacity from 3000 metric tons to 6000 metric tons with which it will decrease the soybean meal imports in Egypt. This strategy will help Cargill to expand its business across Egypt and North Africa to enhance its customer base by supplying affordable, safe, and healthy food. With the adoption of such business tactics, the players in the soy chemicals market are aiming to utilize their existing facilities and infrastructure in order to meet the growing regional product demand.
The increasing popularity of soybean oil and its byproducts among the manufacturers of consumer and industrial products over petroleum and other hazardous ingredients is slated to stimulate the industry trends over the years ahead. In addition to medicinal usage, the deployment of soybean products for manufacturing coatings, plastics, solvents, adhesives, rubber, and lubricants will also have a positive influence on business growth. Driven by the rising number of facility expansions, soy chemicals market size is anticipated to be pegged at USD 44.5 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Oxo alcohols market to garner hefty proceeds over 2017-2024, driven by the extensive product demand from the plasticizers industry
The robust expansion of pivotal end-use domains such as packaging and construction will undoubtedly steer oxo alcohols market along a profitable growth path. With the demand for plasticizers observing an increase in the construction, consumer goods, and automotive sectors, oxo alcohols industry size is certain to increase in the ensuing years, given that these hydrogenated aldehydes are primarily used to manufacture plasticizers such as dibutyl phthalate and diiso-octyl phthalate. Despite the fact that this business sphere is essentially not a niche vertical, the product is extensively demanded from numerous end-use domains, thereby providing a slew of avenues for the growth of oxo alcohols industry. Pertaining to its widespread requirement, in tandem with the vast expanse of its deployment spectrum, oxo alcohols market size was pegged at USD 14.5 billion in 2016.
U.S. Oxo Alcohols Market Size, By Application, 2016 & 2024 (USD Million)
An insight into oxo alcohols market trends from plasticizers
As per estimates, global plasticizers industry size was valued at a massive 7.5 million tons in 2016 and is likely to depict an upward growth potential in the years ahead. This comes as no surprise, given how massively plasticizers are deployed in the polymer industry. When added to polymers, plasticizers apparently decrease the molecular attraction between polymeric chains, making them much more durable and flexible. With the increasing demand for polymer products such as PVC (polyvinyl chloride) products, ester-based plastics, plasticizer-based concrete, and more from the wiring, cabling, and flooring sectors, it would be profitable for investors to pour in their coffers in oxo alcohols market in the coming years.
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The plastic industry has been on a robust incline since the last decade, subject to the widespread product demand across a plethora of applications, which has been claimed to be a principal driving force behind the transformative oxo alcohols market outlook. In 2015, plastic production surpassed 322 million metric tons globally, 58 million metric tons out of which was manufactured in Europe alone. Driven by the profound deployment of plastics in the automotive, consumer goods, construction, packaging, and aerospace domains, plastic industry growth is slated to depict an extensive ascent in the years to come. By extension, oxo alcohols market size is also anticipated to exhibit a substantially huge growth rate, pertaining the fact that they are used massively for producing plasticizers, further deployed in plastic and polymer manufacturing. In fact, a report put together by Global Market Insights, Inc., states that oxo alcohols industry size from plasticizers will exceed a valuation of USD 8.5 billion by 2024.
The commercial production of oxo alcohols involves intermediaries such as ethylene, propylene, and acetylene that are used to manufacture plasticizers, acetates, ether, and solvents. It is prudent to mention however, that these raw materials are essentially obtained from petrochemical based feedstock, indicating that any fluctuations in crude oil price and volume trends may have a direct influence on the revenue graph of oxo alcohols market. Companies partaking in oxo alcohols industry share have been focusing on improving their production capacity in order to combat the demand-supply gap. In consequence, oxo alcohols market, in recent years, has been ablaze with a slew of M&As, partnerships, and expansion deals. With companies shifting their base toward the South East Asian topographies for the reasons of lower production cost, in conjunction with the increasing product demand from the ever-growing automotive, packaging, and construction arenas, oxo alcohols market is certain to traverse a profitable growth map in the forthcoming years.
Author Name : Saipriya Iyer