The global isooctyl alcohol market is expected to register a CAGR of 3.7% by garnering a market value of US$ 338.8 million by the end of 2033. As of 2023, sales of isooctyl alcohol are expected to be valued at US$ 235.6 million. The growth of the market can be attributed to:
Isooctyl alcohol is used as a lubricant in various applications, such as in the automotive and industrial sectors. The increasing demand for lubricants in various end-use industries is expected to boost the demand for Isooctyl alcohol. Isooctyl alcohol is used in the production of construction materials such as sealants and adhesives. The growth of the construction industry, particularly in developing economies, is expected to drive the demand for Isooctyl alcohol.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | US$ 235.6 million |
| Projected Market Value (2033) | US$ 338.8 million |
| Growth Rate (2023 to 2033) | 3.7% CAGR |
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The Asia Pacific isooctyl alcohol market is expected to experience significant growth in the coming years. Isooctyl alcohol is widely used in various industries in the region, including plasticizers, solvents, personal care and cosmetic products, lubricants, and construction materials, among others.
China is the largest market for isooctyl alcohol in the Asia Pacific region, driven by its large manufacturing sector and growing demand for plasticizers, solvents, and personal care products. India is also a significant market for Isooctyl Alcohol, driven by its growing construction industry and increasing demand for solvents.
Other countries in the Asia Pacific region, such as Japan, South Korea, and Southeast Asian countries, are also expected to contribute to the growth of the Isooctyl Alcohol Market in the region. Japan and South Korea have well-established chemical industries and are major producers of plasticizers, while Southeast Asian countries are expected to experience growth in the construction industry, which will drive demand for Isooctyl Alcohol.
The Asia Pacific region is also home to a large population and a growing middle class, which is driving demand for personal care and cosmetic products, further contributing to the growth of the Isooctyl Alcohol Market. Overall, the Asia Pacific Isooctyl Alcohol Market is expected to experience significant growth in the coming years, driven by a combination of factors, including industrial growth, urbanization, and changing consumer preferences.
Isooctyl Alcohol is used in a variety of industries, including plasticizers, solvents, personal care and cosmetic products, lubricants, and construction materials. The demand for these products is expected to continue to grow, particularly in emerging economies, which will drive the demand for Isooctyl Alcohol.
With a growing focus on sustainability and reducing the environmental impact of products, there is an increasing demand for environmentally friendly plasticizers, solvents, and other products that use Isooctyl Alcohol. This is expected to drive the development of new products and increase demand for Isooctyl Alcohol in the coming years.
Isooctyl Alcohol is a clear, colourless liquid with a weak, pleasing odour. It is widely used as a chemical intermediate and as a solvent in the manufacturing of plasticizers, synthetic drying oils, lubricating and cutting oils, and hydraulic fluids.
Isooctyl alcohol is also utilized as an intermediate for non-ionic detergents and surfactants, resin solvents, emulsifiers, anti-foaming agents, and an intermediate for introducing the isooctyl group into another compound.
Principal Consultant
According to the FMI analysis, the global isooctyl alcohol market witnessed a CAGR of 3.1% between 2018 and 2022. The market stands at US$ 235.6 Million in 2023. The pandemic outbreak forced the suspension of various infrastructure projects and the complete shutdown of various industrial and manufacturing facilities. This has affected the global market by disrupting the supply and demand chains over the historical period.
The isooctyl alcohol industry is anticipated to foresee an increased CAGR of 3.7% between 2023 and 2033. Growing demand for isooctyl alcohol in petroleum additives or fuel additives for improving the octane rating of fuel and engine performance in terms of efficiency, acceleration, and maximum speed is expected to boost the target market. Rising consumption of packaged food & beverage products and the growth of packaging industry are also anticipated to fuel the demand for isooctyl alcohol during the forecast period.
Increasing demand from end-use industry is bolstering the sales of isooctyl alcohol
The high demand for plasticizers for the manufacturing of various end-use products is bolstering the demand for the product market during the forecast period. It is estimated that nearly 80% of the plasticizer produced is consumed for the production of polyvinyl chloride. Increasing consumption of plasticizers in the manufacturing of flexible PVC for numerous applications is expected to drive industry growth. Packed food & beverage packaging is one of the key applications that utilize a significant amount of PVC packaging.
Increasing penetration of organized retail, changing consumer lifestyles, rising urban population, and increasing demand for packed food and beverages, along with the advent of innovative packaging solutions, such as edible packaging, bioplastic packaging, active packaging, and modified packaging are a few factors opening new avenues for the packaging industry. On the other hand, the robust growth of the e-commerce sector and its increasing preference for lightweight and flexible packaging solutions is also anticipated to boost the consumption of isooctyl alcohol for the production of end-use products used to manufacture plastic packaging.
Stringent regulations imposed by regulatory bodies can limit the market expansion in forecast period
Stringent regulations imposed by the government and authorities against the manufacturing and use of hazardous chemicals are likely to control the growth of the product market to a certain extent. The adherence to various guidelines followed by the manufacturers to produce their products may affect and slow down the overall growth rate of the isooctyl alcohol market in the forecast period. The availability of several other substitute products is also expected to limit the market expansion over the forecast period.
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By Application, Chemical Intermediate dominate consumption in the product market
The chemical intermediate segment is anticipated to dominate the global market in 2023 and is expected to continue this dominance during the forecast period. Increasing demand for chemical intermediates from numerous end-use industries to produce a wide range of chemicals is one of the primary factors bolstering the sales of isooctyl alcohol as a chemical intermediate. Robust development of various end-use industries, such as paints, packaging, and, building and construction is also surging the demand for isooctyl alcohol as a chemical intermediate among these industries.
Packaging Industry consumes a larger share of the isooctyl alcohol market
Based on the End Use Industry, the packaging segment of isooctyl alcohol is leading in terms of market share. Robust growth of key end-use industries, such as pharmaceuticals, food & beverages, personal care, and household care is one of the primary factors driving the global packaging industry. PVC Packaging offers both flexible & rigid, lightweight, and transparent forms of packaging, resulting in increased demand from these end-use industries.
The paint and film segment is expected to hold a significant share of the isooctyl alcohol market and is expected to grow with a moderate growth rate during the forecast period. Rising urbanization, growing population, and increasing demand for housing and commercial buildings are anticipated to drive the global paints industry. Surging demand for paints and films from building and construction industries is expected to increase consumption of plasticizers, which in turn bolsters the global isooctyl alcohol market during the forecast period.
Asia-Pacific to hold a significant regional share of the product market
The Asia-Pacific region leads the consumption of isooctyl alcohol owing to the large production and consumption of various end-use products in countries such as China, India, and Japan, among others. Increasing construction activities, rising government spending on private and public infrastructure projects, and rapid development of the industrial and manufacturing sectors are anticipated to boost the consumption of isooctane from various end-use industries in the region.
Increasing demand for paint & film in the construction industry to create lucrative opportunities for product market
North America is estimated to hold a significant market share of isooctyl alcohol market followed by the Asia Pacific region and is expected to expand at a significant CAGR during the coming assessment period. Increasing demand for paint & film and wire & cable in residential and commercial construction projects is anticipated to boost the consumption of the isooctyl alcohol market in the region.
Europe is estimated to provide significant growth opportunities to isooctane manufacturers in the coming years. The surging growth of the packaging industry due to rising demand for packed food & beverages, and increasing consumption of paints and films in the automotive industry are bolstering the product market in the region.
The global isooctyl alcohol market players are focused on expanding their market presence through merger and acquisition activities. The major players intend to increase their market presence in South Asia emerging markets by putting extra effort into developing value chains in these regions.
A few of the key participants present in the global demand of the Isooctyl Alcohol market include ExxonMobil Corporation, Chevron Phillips Chemical Company, ThermoFisher Scientific, Merck KGaA, KH Chemicals, BOC Sciences, Chemoxy International Ltd, Henan GP Chemicals Co., Ltd., Henan Bon Industrial (Chemical) Co., Ltd., GJ Chemical, and among others. More insights on these players and their recent developments are available in the report.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.7% between 2023 and 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR between 2023 and 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Drivers, Restraints, Opportunities, Trends, and Pricing Analysis |
| Segments Covered | Application, End Use Industry, Region |
| Regions Covered | North America(United States of America, Canada); Latin America(Brazil, Mexico, Argentina, Rest of Latin America); East Asia(South Korea, China, Japan); South Asia and Pacific(India, ASEAN, Australia and New Zealand, Rest of South Asia and Pacific); Western Europe(Germany, France, Spain, Italy, BENELUX, Nordics, United Kingdom, Rest of Western Europe); Eastern Europe(Poland, Hungary, Romania, Czech Republic, Rest of Eastern Europe); Central Asia; Russia and Belarus; Balkan and Baltic Countries; Middle East and Africa(King of Saudi Arabia, Türkiye, Northern Africa, South Africa, Israel, Rest of Middle East and Africa) |
| Key Companies Profiled | ExxonMobil Corporation; Chevron Phillips Chemical Company; ThermoFisher Scientific; Merck KGaA; KH Chemicals; BOC Sciences; Chemoxy International Ltd.; Henan GP Chemicals Co., Ltd.; Henan Bon Industrial (Chemical) Co., Ltd.; GJ Chemical; Others |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global market reached over US$ 227.1 Million.
In 2023, the value of the global market reached over US$ 235.6 Million.
The global market is projected to reach US$ 338.8 Million by the end of 2033.
The global market exhibit a CAGR of 3.1% over the last 4 years.
The global market is estimated to grow with a CAGR of 3.7% from 2023 to 2033.
The packaging end-use industry is estimated to lead the global market in 2023.
The paint and films industry segment is projected to lead the global market in the forecast period.
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Isooctyl Alcohol Market
