LONDON--(BUSINESS WIRE)--The global 2-ethylhexanol market size is poised to grow at a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The automotive industry registered remarkable growth in the past few years and will continue to grow during the forecast period. This is expected to increase the demand for 2-ethylhexanol, as it is used for the production of plasticized PVC in automobiles owing to its flexibility, durability, and strength. Plasticized PVC is commonly used in underbody coating, seats and dashes, filter housing, and body sealers. Moreover, 2-ethylhexanol is also widely used to produce 2-EH nitrate, which is used as a cetane improver for diesel fuel. 2-Ethylhexanol reduces the ignition delay, knock and noise, misfiring, shock loads, and fuel consumption in vehicles. Thus, the growth of the automotive industry will drive the growth of the market during the forecast period.
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As per Technavio, the increase in R&D activities of non-phthalate plasticizers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
2-Ethylhexanol Market: Increase in R&D activities of Non-Phthalate Plasticizers
The rising innovation and product development of non-phthalate plasticizers is anticipated to drive the growth of the global 2-ethylhexanol market. For instance, in December 2017, OXEA signed a cooperation agreement with Oxxynova for the production of dioctyl terephthalate (DOTP) in Europe. The company is expected to produce 60,000 metric tons of DOTP by 2019. The use of 2-ethylhexanol as the main raw material in the production of DOTP is expected to foster market growth during the forecast period.
“Other factors such as the increase in prices of 2-ethylhexanol, and increasing preference for backward integration will have a positive impact on the growth of the 2-ethylhexanol market value during the forecast period,” says a senior analyst at Technavio.
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2-Ethylhexanol Market: Segmentation Analysis
This market research report segments the 2-ethylhexanol market by application (plasticizers, 2-ethylhexanol acrylate, fuel additives, and others) and geography (Americas, APAC, and EMEA).
The APAC region held the largest share of the market in 2018, followed by EMEA and Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance as well as register the highest incremental growth due to high demand from end-users applications such as floor and wall coverings, wires and cables, films and sheets, and coated fabric.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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