The global 2-ethylhexanol market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio
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Technavio has released a new market research report on the global 2-ethylhexanol market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increase in demand from developing countries. Developing economies such as China, Brazil, Mexico, India, Philippines, and Indonesia are driving the growth in the global 2-ethylhexanol market. Factors such as availability of raw materials, land, and cheap labor, low transportation costs, and less stringent government regulations and policies are enabling several players in the market to shift their manufacturing hubs to these countries.
This market research report on the global 2-ethylhexanol market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increase in R&D activities of non-phthalate plasticizers as one of the key emerging trends in the global 2-ethylhexanol market:
Global 2-ethylhexanol market: Increase in R&D activities of non-phthalate plasticizers
The rising innovation and product development of non-phthalate plasticizers are anticipated to drive the growth of the global 2-ethylhexanol market. As of December 2017, in Europe, OEXA signed a cooperation agreement with Oxxynova for the production of dioctyl terephthalate. By 2019, the company is expected to produce 60,000 metric tons of DOTP. The use of 2-ethylhexanol as the main raw material in the production of DOTP is expected to drive market growth during the forecast period.
"In industries such as construction, medical, and automotive, the growing demand for non-phthalate plasticizers is expected to drive the market growth. In the construction industry, plasticizers are used for the production of PVC, which are used in flooring, roofing membranes, and wallcovering. The use of plasticizers in medical tubing and blood bags and in blister packaging of tablets is also expected to boost market growth. The increase in technological advancements and R&D activities of non-phthalate plasticizers is expected to drive market growth," says a senior analyst at Technavio for research on specialty chemicals.
Global 2-ethylhexanol market: Segmentation analysis
This market research report segments the global 2-ethylhexanol market by application (plasticizers, 2-ethylhexl acrylate, and fuel additives) and geographical regions (APAC, EMEA, and the Americas).
The plasticizers segment held the largest market share in 2018, accounting for nearly 77% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of 53%. This region is expected to dominate the market through 2023, with over 1% increase in its market share.
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Five Forces Analysis
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- Vendors covered
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- Competitive scenario
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