The Global 2-Ethylhexanol (2-EH) Market Size was valued at USD 6.51 billion in 2021 and is predicted to reach at USD 10.78 billion by 2030, increasing at a CAGR of 5.76% from 2022 to 2030. Insoluble in water and many organic solvents, 2-Ethylhexanol is an amber-coloured liquid with a high-water solubility. The production of lubricants, plasticizers, and other chemical products relies heavily on 2-Ethylhexanol. N-Butyraldehyde is condensed with aldol and then hydrogenated, which is employed in commercial productions.
Dioctyl phthalate and other low-volatility esters are mostly made with it. It is used in both the coatings and heavy metal sectors. In addition to its long-term stability, low volatility, and low cost, 2-Ethylhexanol (2-EH) has a variety of other unique features. The 2-ethylhexanol (2-EH) market's growth will be influenced by advances in LP Oxo technology. One of the main factors driving the market expansion is the rising demand for chemicals from various end-use sectors, as well as the increased demand for coatings and paints like 2-ethylhexanol (2-EH) in the building industry.
Consumer spending power and urbanisation are both driving the 2-ethylhexanol (2-EH) market's growth. As a result of severe emission regulations, the demand for high-performance fuels like 2-ethylhexanol (2-EH) is expected to expand even faster. Plasticizer manufacturing industries are also expected to drive the growth of 2-ethylhexanol (2-EH) in the market in the future. For the sake of 2-ethylhexanol (2-EH) market growth, technological advancement and modernization are expected to generate favourable chances. In addition, the market's growth will benefit from the untapped potential in emerging markets.
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Chemical industry demand is predicted to rise in the coming years due to an increase in supply and an increase in R&D in the industry. The growth of the 2-Ethylhexanol (2-EH) market can be attributed to the high demand for coatings and paints like 2-Ethylhexanol (2-EH) in the building industry. The 2-Ethylhexanol (2-EH) market's growth is mostly attributed to improvements in the infrastructure and building industries, particularly in emerging countries. However, 2-EH is employed in a wide range of industries, including acrylate, ammonium hydroxide nitrate, and plasticizers.
As a result of qualities such as low volatility, outstanding resistance to extremes of temperature and water, outstanding gelling power, and dielectric properties of the 2-Ethylhexanol, the plasticizers are raising the market demand, which will benefit the global market throughout the forecast period. Rubber, plastics, automobiles, construction, personal services, and medicines are all end-users of these compounds, and their specialized applications are impacting the market demand. More and more companies are looking to get into the 2-Ethylhexanol (2-EH) market as a result of rapid worldwide development and rising infrastructural investments by various governments.
Plasticizers like phthalate and non-phthalate plasticizers are made with large amounts of 2-ethylhexanol that are generated all over the world. Among these plasticizers, phthalates are a chemical compound that is mostly phthalic acid and is widely used due to its processing and performance properties in a wide range of end-use industries.
Due to the fact that phthalates account for over half of worldwide plasticizer consumption, leading companies in the 2-ethylhexanol market are positioning themselves to take advantage of the rising demand for 2-ethylhexanol in the phthalates sector. Other plasticizers include diisononyl cyclohexane dicarboxylate (Hexamoll DINCH), bio-based plasticizers, and diethyl ethoxy terephthalate (DEHT) do not contain any phthalates (DEHT).
Leading 2-ethylhexanol market players aim to meet the specific needs of players in the plasticizers industry by taking into account the fact that plasticizers are commonly used across various applications because of their chemical properties such as durability, flexibility, material utility and longevity.
It is projected that demand for 2-ethylhexanol will continue high in the automotive, construction/remodeling, and original equipment manufacturing industries in the future years (OEMs).
It is projected that the rising cost of 2-Ethylhexanol will limit market expansion. Oxo alcohols, particularly 2-Ethylhexanol, have been rising in price for a variety of reasons. In some cases, the supply chain has been affected by price increases of up to two or three times a year. For example, OQ Chemicals has increased the price of 2-Ethyl Hexanol by US$ 0.30 lb in 2021 due to rising raw material costs and strong demand.
Additionally, Eastman Chemical Company has announced a $1.00/pound price increase for EastmanTM 2-Ethylhexanol, which will take effect on April 14, 2021. The rising cost of raw materials, particularly natural gas, necessitated this course of action. Perstorp Oxo AB has raised the selling price of 2-Ethylhexanol by more than US$ 300/mt because of rising natural gas prices in Europe.
Other industrial compounds including acrylate, plasticizers, and nitrate use 2-ethylhexanol as a typical starting ingredient. Automotive, construction, plastics, medicines, and rubber are just some of the industries that use these components. Global 2-ethylhexanol market trends are projected to be affected by expanding constructions and paint & coatings industry growth in the near future.
Construction and infrastructure development are being spurred by an increase in consumer discretionary income in emerging countries around the world, particularly in the Asia Pacific area. The requirement for 2-ethylhexanol is predicted to stay high in the construction sector because it is one of the most significant raw ingredients for various construction products. The demand for 2-ethylhexanol is also increasing in the paints and coatings business, since their uses in the automotive sector are opening up lucrative opportunities for consumption.
The Global 2-Ethylhexanol (2-EH) Market is divided into different segments according to the Application and region (Geographies).
By Application, the Global 2-Ethylhexanol (2-EH) Market is segmented into Plasticizers, 2-EH Acrylate, 2-EH Nitrate. The plasticizers segment accounted for more than half of North American revenue in 2021. Plasticizers are found in a wide range of products, including acrylic paints, latex and rubber sealants, and printing inks. Because they are considered a hazardous substance, their usage is restricted in all of the aforementioned contexts. Plasticizer demand is expected to rise as a result of the plastics industry's growth in Asia Pacific, which in turn will benefit the 2-EH market.
Over the next few years, the market for 2-EH acrylate is expected to increase at a rapid pace. The chemical industry uses 2-Ethylhexyl acrylate as a monomer for the synthesis of polymers and copolymers, which are usually processed to make aqueous polymer dispersions.
Among the many uses for these polymers and polymer dispersions are adhesives and binders for paints. Coatings, polymers, and textiles are all possible uses for 2-EH acrylate. A monomer in construction chemicals, such as floor coatings and road marking substances, also includes 2-ethylhexyl acrylate.
By Region, the Global 2-Ethylhexanol (2-EH) Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. For the first time, Asia-Pacific was the world's largest market in 2021. The region's standing is expected to remain stable through 2030. The market for 2-ethylhexanol is predicted to develop at the fastest rate because of the increasing demand from various sectors.
This region accounts for the bulk of the global demand for 2-EH and most of its end-use goods, making Asia Pacific the world's largest market for 2-EH. As a result of China's enormous economic potential, the region is predicted to rise at an incredibly high rate over the forecast period. As demand for 2-EH rises, local manufacturers are boosting their production capacity.
During 2021, Europe was the second-largest consumer in the global market, accounting for 14.5 percent of the total global market. The construction and paints & coatings industries are likely to drive demand for 2-ethylhexanol by increasing demand for 2-EH acrylate, which is used in acrylic coatings. The usage of DOP/DEHP is banned in the region due to several EU and REACH laws addressing the harmful effects of the product on human and environmental health. Foreseeing this will have a detrimental influence on the product market.
The Global 2-Ethylhexanol (2-EH) Market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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In 2021, Asia-Pacific was the most lucrative market in the world. The region's standing is expected to remain stable through the year 2030. The rising demand for 2-ethylhexanol in a wide range of industries means it's likely to be the fastest-growing market as well.
China is expected to be the primary source of revenue for APAC, given to the country's robust industrial expansion. The rise of end-use industries like paints & coatings, plastics, and construction is supported by rising disposable income, more employment possibilities, and a strengthening economy. Plasticizers and 2-EH acrylate segments are also expected to gain from increased infrastructure investments in India and the government's Make in India drive.
Furthermore, growth in Europe is expected to be consistent over the projection period. Coating firms in Europe have been compelled by the regulatory environment and end-user preferences to produce multifunctional and sustainable solutions as well as value-added services for their clients. Over the prediction period, the European market is expected to benefit from this trend. Additionally, the rise of the protective and automotive coating industries in the region is expected to drive demand for the product.
This region accounts for the bulk of the global demand for 2-EH and most of its end-use goods, making Asia Pacific the world's largest market for 2-EH. The enormous development potential of the Chinese market is largely to blame for the region's predicted rapid ascent throughout the forecast period. There is a growing need for 2-EH, and hence manufacturers in the country are expanding their manufacturing capacity.
In 2021, Europe accounted about 14.5 percent of the global market, making it the second-largest consumer in the world. Demand for 2-ethylhexanol is predicted to rise as a result of a growing demand for 2-EH acrylate, which is used in acrylic coatings in the construction and paints and coatings industries. EU and REACH laws prohibit the use of DOP/DEHP in the region because of concerns about its harmful impact on human and environmental health. This is going to have an adverse effect on the goods market in the future.
Latin America is likely to grow at a high rate during the forecast period. Because of the increasing number of middle-class residents in the area, the demand for automobiles, homes, and apartments is rising. The demand for 2-EH acrylate in the paint and coatings sector is predicted to rise as a result of this. Demand for 2- EH acrylate in the region is projected to be impacted by the region's expanding paint and coatings sector. BASF SE and Evonik Industries, among others, have made direct investments in the area. Economic and industrial growth have been a result of these investments, enhancing the potential for 2-EH in the future.
June 2022 - Evonik Venture Capital has invested in two sustainability funds: Azolla Ventures I and Chrysalix's Carbon Neutrality Fund. Efforts by both Azolla and Chrysalix to reduce CO2 emissions are being directed at the North American market. The new €150 million Sustainability Tech Fund, run by Evonik's venture capital arm, is making its first investment. The amount of the investment will remain a secret as per the agreement of all parties.
January 2022 - The sodium bromide expansion project in Gammon Province, Laos, has been completed and put into operation by Shandong Haiwang Chemical Co. Ltd. by the beginning of 2022. As of the 3rd of January, its Laos base's sodium bromide production had reached a new milestone following an arduous 78-day build-out period.