Segmentation By Chemical Type (n-Butyraldehyde, Isobutyraldehyde, Propionaldehyde, Heptanoic and pelargonic acids, Branched oxo acids, C7-C13 plasticizer oxo alcohols and Others); By Form (Solvent, Intermediates, Resins and Others); By End-User Industries (Building and Construction, Automotive, Paints and Coatings, Consumer Goods and Others) - Global Demand Analysis & Opportunity Outlook 2027
Buy Now
The rising demand for Oxo-chemicals and its by-products for various processes in automotive, OEM, construction and building industries are expected to drive the market rapidly over the forecast period. The growing R&D activity associated to oxo-chemicals is further expected to increase the market growth leading to discovery of new applications of oxo-chemicals around the world. Application of Oxo-chemicals in the production & manufacturing of various products and rising global consumption of plasticizer alcohols is estimated to drive the oxo-chemicals market during the forecast period. Moreover, applications of oxo-chemicals as solvents or coatings on account of their anti-corrosion and biodegradability properties have increased its demand across various end-user industries. Oxo-chemicals are used in production of alcohols, acrylates, acetates, lubes, glycol ethers, solvents, resins and more. Rising paints and coatings along with textile industries are increasing demand for glycol ethers, resins, acrylates and solvents that are easily available at low costs, which will help the market grow during the forecast period. Rapid economic development with thriving manufacturing sector is expected to boost the Oxo-chemicals market in the Asia Pacific region.
However, inappropriate waste disposal methods have led to increasing concerns regarding how they impact the environment. Such factors are expected to serve as a key restraint in the growth of the oxo-chemicals market.
Our-in depth analysis of the global Oxo-chemicals market includes the following segments:
By Chemical Type
By Form
By End-User Industries
By Region
Global Oxo-chemicals Market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Submit Your Request For Proposal (RFP)
