Isooctyl Alcohol Market Size & Share, by Type (Sapphire, Ruby, Emery); Application (Plasticizers, Non-Phthalate, 2-EH Nitrate, 2-EH Acrylate); End Users (Painting & Coating, Adhesives, Industrial Chemicals, Automotive) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5931
  • Published Date: Mar 27, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Isooctyl Alcohol Market size is poised to reach USD 5.5 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of isooctyl alcohol was USD 3.5 Billion. The market of isooctyl alcohol is thriving on the back of the increasing demand for the production of plasticizers in various sectors. Furthermore, plasticizers are largely responsible for the flexibility and durability of polyvinyl chloride (PVC) products, for example, pipes, wires & cables, resilient flooring, and roofing membranes. Therefore, the production of PVC products is also projected to grow due to growing construction activities. According to the World Bank, the expansion of urban land consumption outpaces population growth by 50%, at this pace it is expected to add 1.5 million sq km of new built-up area to the world. Thus, indirectly boosting the growth of the industry.

Additionally, the increasing demand in the paints and coating sector is expected to grow the market. As isooctyl alcohol is a versatile chemical making it an excellent solvent. Its demand in the paint and coating sector for manufacturing synthetic drying oils, which are used as vehicles in paints and varnishes is likely to spur the growth of the isooctyl alcohol market in the forecast period.


Isooctyl alcohol Market
Get more information on this report: Request Free Sample PDF

Isooctyl Alcohol Sector: Growth Drivers and Challenges

Growth Drivers

  • Burgeoning Global Disposable Income: Rising disposable incomes lead to increased consumer spending on various kinds of durable goods which include electronics, automobiles, and household appliances, all of which often contain plastic components and are usually painted or coated for longevity and protection. As isooctyl alcohol is utilized in the production of plastics to make them stronger and more flexible and used as a solvent in the production of coating and paints. Therefore, increasing consumption of such products is estimated to drive the growth of the isooctyl alcohol market. For instance, according to research in 2022, global disposable incomes and expenditure per household are both expected to grow by 2.8%. The fastest growth in real terms will be observed in Saudi Arabia, where income and expenditure will rally by nearly 16% over the year.
  • Wide variety of applications in End Use Sector: The widespread use of isooctyl alcohol as a vital raw material in various industries, including construction, plastics, chemical, textile, and pharmaceuticals is expected to propel the market growth. Isooctyl alcohol is one of the most commonly used chemicals in the production of other industry-grade chemical components such as acrylate, plasticizers, and nitrate. Furthermore, isooctyl alcohol serves as a plasticizing co-monomer in resin for pressure-sensitive adhesives, latex, paints, and textiles, and is a main component for polyvinyl chloride (PVC) products mostly used in the construction sector.
  • Stringent Regulations on Industrial Emission: Due to the significant levels of emissions worldwide, which can lead to serious environmental consequences, several major countries such as the European Union, India, the USA, China, and Japan have implemented stringent regulations like Real Driving Emission (RDE) norms set by the Union Ministry of Road Transport and Highways. Under these RDE norms, car manufacturers will need to display real-time emissions data for their vehicles, a requirement that came into effect in April 2023. The increasing emphasis on emission standards is driving the demand for high-quality fuels. Isooctyl alcohol has emerged as a promising alternative due to its environmental efficiency, showing potential as a replacement for traditional transportation fuels. This not only aligns with emission regulations but also contributes to creating a sustainable substitute. As a result of these stricter regulations, it is anticipated that the isooctyl alcohol market will experience growth.

Challenges

  • Harmful Effects of Isooctyl Alcohol Market: The toxic nature of isooctyl alcohol is going to hamper its market growth. It is highly irritating to the skin and eyes and may result in dizziness, headache, throat irritation, and sore eyes. Furthermore, the vapor or mist it emits has been known to cause hindrance in the respiratory process. Making handling it extremely hard and dangerous.
  • The stringent rules and regulations against the use of plastic products are expected to hinder market growth.
  • In addition, isooctyl alcohol can be harmful to fish invertebrates and algae when they are exposed to it for a period of time, in environments. Leading to restraints in the isooctyl alcohol market.

Isooctyl Alcohol Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~5%

Base Year Market Size (2023)

~ USD 3.5 Billion

Forecast Year Market Size (2036)

~ USD 5.5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Isooctyl Alcohol Segmentation

Application (Plasticizers, Non-Phthalate, 2-EH Nitrate, 2-EH Acrylate)

The plasticizers segment in the isooctyl alcohol market is estimated to gain the largest revenue share of about ~35% in the year 2036. The segment growth can be attributed to the rising use of plastic products globally. As isooctyl alcohol is used as a solvent and as a chemical intermediate in making plasticizers, which is used to convert PVC a rigid plastic into a soft flexible, and elastic material. For reference according to United Nations Environment Program (UNEP) around the world, 1 million plastic bottles are purchased every minute, while up to 5 trillion plastic bags are used worldwide every year. Furthermore, the wide use of PVC products in various industries like construction, automobile, and electronics is estimated to spur the segment growth.

End Users (Painting & Coating, Adhesives, Industrial Chemicals, Automotive)

The automotive segment in the isooctyl alcohol market is estimated to gain a significant share of about ~33% in the year 2036. The increase, in this sector can be attributed to the growth of the automobile industry. Isooctyl alcohol possesses properties that make it a suitable ingredient for plasticized PVC, which is utilized in automotive components like seat upholstery, coatings, body sealants, filters, and dashboards. This leads to an increase in the demand for isooctyl alcohol in the projected timeframe. According to research, in 2022 revealed that 58 million units of passenger cars were sold worldwide with expectations of growth in the future. Additionally, stringent emissions regulations are anticipated to propel isooctyl alcohol market expansion as isooctyl alcohol has emerged as a component, in fuels and lubricants aimed at reducing CO2 emissions.

Our in-depth analysis of the isooctyl alcohol market includes the following segments:

           Type

  • Sapphire
  • Ruby
  • Emery

            Application

  • Plasticizers
  • Non-Phthalate
  • 2-EH Nitrate
  • 2-EH Acrylate

           End User

  • Paint & Coating
  • Adhesives
  • Industrial Chemicals
  • Automotive

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Isooctyl Alcohol Industry - Regional Synopsis

APAC Market Forecast

Asia Pacific isooctyl alcohol market is anticipated to hold the largest share of about ~37% by the end of 2036. The market growth in the region is also expected on account of rising demand of plasticizer in emerging economies like India, China, Indonesia, and Vietnam of rising demand for plasticizers in emerging economies like India, China, Indonesia, and Vietnam. The increasing need for 2-Ethylhexyl acrylate, which is an ester of isooctyl alcohol used as raw material to make coatings, adhesives, construction material, and emulsions, with the addition of expanding automotive and construction sectors is fueling the isooctyl alcohol market in the Asia Pacific region. China and India stand out as a major player in the region hosting production facilities for nearly all major automotive companies. According to studies by the end of 2023 India alone produced around 26 million passenger vehicles, which was an increase from the year 2022 were approximately 6 million cars were produced. Furthermore, factors such as increasing disposable income and infrastructure development are securing the growth of the end-use sector which includes paints and coating, construction, and plastics escalating the market growth of isooctyl alcohol in the Asia Pacific region.

North American Market Analysis

The North America isooctyl alcohol market is estimated to be the second largest, share of about ~25% by the end of 2036. The market’s expansion can be attributed majorly to the rise in the vast automotive industry of the region. Isooctyl alcohol is used in making of various plastic components of automobiles such as coatings, seat leather, dashboards, and many more as a result the demand for isooctyl alcohol has risen in the region. The United States is a traditional powerhouse in the automotive sector and has some of the biggest car manufacturers in the world. The likes of General Motors, Ford, and Chrysler were all founded and headquartered there. According to studies in 2022 US automotive industry recorded sales for an estimated 14 million passenger vehicles and light truck vehicles in addition the automotive industry accounts for 3% of the US GDP. Furthermore, strict regulation regarding emissions has driven the isobutyl alcohol market in the region due to its versatility and eco-friendly characteristics, is emerging as a preferred choice among manufacturers, further propelling the isooctyl alcohol market  growth in the North American region.

Research Nester
Isooctyl alcohol Market Size
Get more information on this report: Request Free Sample PDF

Top Featured Companies Dominating the Isooctyl Alcohol Landscape

top-features-companies
    • OXEA GmbH
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • LG Chem Ltd
    • BASF SE
    • China Petroleum & Chemical Corp
    • Eastman Chemical Company
    • Nan Ya Plastics Corp
    • GurpaAzoty S.A
    • INEOS
    • SABIC
    •  Sinopec

In-the-news

In The News

  • SABIC a global leader in the chemical industry, announced at MD&M West 2024 a crucial expansion of its LNP LUBRILOY portfolio of internally lubricated specialty compounds. The new product can meet customer demands for high-performance alternatives to materials lubricated with polytetrafluoroethylene (PTFE), which is a per- and polyfluoroalkyl substance (PFAS).
  • LG Chem and Enilive move a further step forward to the final investment decision on the project of a new biorefinery in South Korea by signing the joint venture agreement. The agreement has been signed in Rome by Eni CEO, Claudio Descalzi, and LG Chem CEO, Shin Hak-cheol. Last September, Enilive and LG Chem announced they were exploring the possibility of developing and operating a new biorefinery at existing LG Chem’s integrated petrochemical complex in Daesan, South Korea, to complete the biorefinery by 2026.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5931
  • Published Date: Mar 27, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the isooctyl alcohol market are the increasing demand for the production of plasticizers in the construction sector, rising disposable incomes, the widespread use of isooctyl alcohol as a vital raw material in various industries, and stringent regulations on industrial emission.

The market size of isooctyl alcohol is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are OXEA GmbH, LG Chem Ltd, BASF SE, China Petroleum & Chemical Corp, Eastman Chemical Company, Nan Ya Plastics Corp, GurpaAzoty S.A, INEOS, SABIC, Sinopec, and others.

The plasticizers segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Isooctyl alcohol Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying