The 2-EH market is poised to witness a CAGR of 6.8% from 2023 to 2033. Over this projection period, the 2-EH market share is estimated to reach a net worth of USD 12.7 billion by 2033, improving from the current valuation of USD 6.5 billion in 2023. In the coming years, the demand for 2-EH is expected to remain significantly high in areas such as automotive production, construction/remodeling, and original equipment manufacturers (OEMs).
Large amounts of 2-EH produced worldwide are utilized in manufacturing various types of plasticizers, such as phthalate and non-phthalate plasticizers. Among these types of plasticizers, phthalates are phthalic acid, and they are utilized in a wide range of end-use industries owing to their processing and performance characteristics.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 6.8% |
| Market Valuation (2023) | USD 6.5 billion |
| Market Valuation (2033) | USD 12.7 billion |
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What are the Key Drivers Propelling Growth of the Market?
Burgeoning applications in Construction and Paints & Coatings Landscape may uphold the e-EH Market. 2-EH is one of the most commonly used chemicals in manufacturing other industry-grade chemical components such as acrylate, plasticizers, and nitrate. These components find immense applications in different industrial landscapes, including automotive, construction, plastic, pharmaceuticals, and rubber.
The demand is also momentum in the paints & coatings industry, as their applications in the automotive industry are contributing to the rise in consumption of 2-ethyl hexanol across this industry.
While most stakeholders focus on bolstering their investments in these end-use applications, increasing growth of the construction and paints & coatings industries is expected to influence key trends in the global 2-ethyl hexanol market in the coming years.
Increasing disposable incomes of consumers in developing countries, especially in the Asia Pacific region, are triggering various construction activities and infrastructure development across these geographies. Among the most important raw materials of different construction materials, the demand for 2-ethyl hexanol is expected to remain high in the construction industry.
Leading players in the 2-EH industry note that phthalates account for nearly half the global consumption of plasticizers, and consequently, they are aiming to capitalize on the growing sales of 2-EH in the phthalates industry.
On the other hand, non-phthalates are plasticizers that do not include phthalates but comprise various other components, such as Hexamoll DINCH, bio-based plasticizers, and diethyl hexyl terephthalate (DEHT).
| Countries | Forecast Share Between 2023 to 2033 |
|---|---|
| United States | 16.6% |
| Germany | 8.9% |
| Japan | 3.2% |
| Australia | 0.7% |
| Countries | Forecast CAGR Between 2023 to 2033 |
|---|---|
| China | 6.1% |
| India | 5.8% |
| United Kingdom | 3.6% |
The Asia Pacific region holds the largest share in the growth of the 2-ethyl hexanol market, where China remains a dominant player, accounting for nearly half the revenue share of the market in the Asia Pacific.
In developing countries across the Asia Pacific, including China, India, Indonesia, and Vietnam, the demand for 2-EH is mainly driven by its applications in the plasticizers industry. Furthermore, the building & construction industry in the Asia Pacific is undergoing an architectural boom, creating new potential for 2-ethyl hexanol manufacturers in the region.
China is expected to emerge as the top market for 2-EH, as the governing bodies in the country are bolstering the development of infrastructures across various sectors. Furthermore, the country is also a global leader in automotive production, opening new growth opportunities for the manufacturers of 2-EH in China.
The market analysis report shows North America contributes around 13.7% to the overall revenue share.
Over the projection period, North America is anticipated to have considerable expansion. The region's immigration growth drives demand for homes, residences, and vehicles. Several corporations, notably BASF SE and Evonik Industries, have directly invested in the region. The region's industrial and economic growth due to these investments is expected to raise the sales of 2-EH in the next years.
As per the market report, Europe accounts for almost 19.2% of the global market. Over the projection period, stable growth is anticipated in Europe. European coating firms have been motivated to create multifunctional and sustainable solutions while providing value-added services to their clients by the regulatory environment and end-user desires. Throughout the forecast, this trend is anticipated to have a favorable effect on the European market.
What are the Strategies Adopted by Start-ups to Counter Establish 2-EH Market Players?
Like any fragmented market, small- and medium-sized businesses are expected to face intense competition from top chemical companies in the global 2-ethyl hexanol market. Market leaders are focusing on catering to key end-use industries such as building & construction, paints & coatings, marine, and transportation to gain momentum in this landscape.
The growing presence of regional players and global leaders in the global 2-EH market may likely lead to market fragmentation in the coming years. Leading players are expected to focus on offering 2-ethyl hexanol for commercial construction and low-cost housing projects in the Asia Pacific to gain momentum in the region.
Small players establish their stronghold in regional markets, while global players leverage their large distribution networks to expand their customer bases.
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Type, Application, Region |
| Key Companies Profiled | The Dow Chemical Company; Eastman Chemical Company; Azotowe KATMdzierzyn; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The 2-EH market registers USD 6.5 billion in revenue in 2023.
The global 2-EH market revenue is projected to exceed USD 12.7 billion by 2033.
Demand for 2-EH is anticipated to upsurge at a 6.8% CAGR through 2033.
With a projected 6.1% CAGR through 2033, China highlights considerable revenue potential for 2-EH.
The leading trend in the 2-EH market is a shift toward eco-friendly production to deal with environmental regulations.
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2-EH Market
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