The global plasticizer alcohols market is estimated to register at a CAGR of 3.4% in the global market during the forecast period and registers a revenue valued at USD 6.08 Billion in 2022, and is expected to cross USD 8.49 Billion by 2032.
| Attributes | Details |
|---|---|
| Plasticizer Alcohols Market Size (2022) | USD 6.08 Billion |
| Plasticizer Alcohols Market Size (2032) | USD 8.49 Billion |
| Plasticizer Alcohols Market CAGR (2022 to 2032) | 3.4% |
Key market players focus on the benefits of plasticizer alcohols, such as low molecular weight, water-solubility, and the ability to provide the proper balance of desired properties in a formulation. The demand for plasticizer alcohols is hence rising as 2-ethyl hexanol is used to make the product, and it has a high boiling point and slow evaporation rate. Moreover, it is a versatile solvent featuring excellent reactivity as a chemical intermediate.
With combined three-quarters of the global trend, 2-ethyl hexanol (2-EH) and n-butanol continue to account for most plasticizer alcohol consumption. Both alcohols are likely to have a high consumption rate, although global demand for n-butanol is a result of great demand in n-butyl acrylate, acetate, and glycol ether production. This is expected to drive the global plasticizer alcohol market growth.
Plasticizer alcohols are C7 to C11 primary alcohols. These plasticizer alcohols, composed of linear alky chains are used as plasticizers, acrylate esters, lube oil additives and solvents among others. A relatively stronger demand for plasticizer alcohols in production of acetate esters is expected to be witnessed during the forecast period.
The major end-use industries for plasticizer alcohols include automotive industry, construction industry among others. The major commercially used plasticizer alcohols are 2-Ethylhexanol, n-butanol, isobutanol, isononyl alcohol among others.
Among the aforementioned types, n-butanol and 2-Ethylhexanol are expected to account for a major share in overall plasticizer alcohols market over the forecast period
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Most key players have proven to be trusted and dependable plasticizer suppliers for decades. They are positioned to deliver plasticizers for their end users that thrive in a rapidly changing industry and a dynamic regulatory environment, with manufacturing capabilities across the globe. Moreover, their production facilities deliver consistent products to fit any requirement.
A certain market player has claimed that in the future, the production of plasticizer alcohol 2-propyl heptanol can be done much more efficiently, which can be made by the development of the new ligand OxoPhos 64. This new ligand enables longer plant operation, makes the process more efficient, and requires less maintenance. This is estimated to surge the adoption of plasticizer alcohols in the forecast period.
Certain key providers have been developing and enhancing their product range for decades, working towards specialization. Most of them had successful launches of plasticizer units in 2015, and the following years saw an increase in production capacities to 65,000 tons per year. Their goal has been to provide solutions that allow the manufacturing of products that are environmentally friendly and also good for human health based on the principles of sustainable development. This approach drives the growth of the plasticizer alcohol market share. They are able to do this, as most of these key companies already have a semi-scale plasticizer plant where new products are being developed.
Further, key players are engaged in research activities to boost productivity and come out with solutions that enhance products that will be good for the environment. These activities are market boosters.
The plasticizer alcohols market is expected to witness a steady growth during the forecast period, owing primarily to the steady growth in demand for plasticizers driven by the corresponding growth in end use industries.
Moreover, plasticizer alcohols market is expected to witness substantial growth during the forecast period especially in developing regions of the globe such as Asia Pacific. This steady growth in plasticizer alcohols market in Asia Pacific region is expected to be spearheaded by growing demand from China.
Moreover, demand for plasticizer alcohols from a variety of applications in countries such as India, Vietnam and Indonesia is likely to translate in to steady growth of plasticizer alcohols market during the forecast period.
The major end-use markets include automotive production, construction among others. Additionally, stringent norms on emissions are expected to drive the demand for high performance fuels which in turn is slated to augment the demand for plasticizer alcohols through the forecast period.
Furthermore, growth in the coatings industry is anticipated to fuel the plasticizer alcohols market growth in near future. On the flip-side, increasing demand for alternatives such as phthalates, benzoates, aliphatics and specialty plasticizers is expected to act as an impediment to the growth of global plasticizer alcohols market during the forecast period.
North America and Europe accounted for a substantial share in global plasticizer alcohols market in 2014 and are expected to witness a moderate single digit growth during the forecast period. However, the developing regions of the globe namely Asia Pacific and Latin America are expected to witness a relatively faster growth vis-à-vis aforementioned regions during the forecast period.
Some of the key companies that operate in global plasticizer alcohols market are Dow Chemical Company, Eastman Chemical Company, Evonik Industries, Zak S.A, Chengdu XiYa Chemical Technology Co., Ltd., Tianjin Zhongxin Chemtech Co., Ltd. and Meryer (Shanghai) Chemical Technology Co., Ltd. among many others.
Major players operating in Plasticizer Alcohols market are focusing on channelizing efforts towards research and development activities in order to expand their product portfolio and introduce higher value, differentiated and application specific products.
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Plasticizer Alcohols Market
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