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2-Ethylhexanol Market

2-Ethylhexanol Market Size, Share, Growth & Forecast Analysis, By Application (Plasticizers, 2-EH Acrylate, 2-EH Nitrate and Other Applications), By Region (North America, Latin America, Europe, APAC) - Global Market Insights 2022-2032

Analysis of 2-Ethylhexanol Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

2-Ethylhexanol Market Outlook (2022-2032)

The global sales of the 2-Ethylhexanol Market in 2021 was held at US$ 6.5 Billion. With 6.8% projected growth during 2022 – 2032, the market is expected to reach a valuation of US$ 13 Billion by 2032. 2-Ethylhexanol Market for plasticizers is expected to generate the highest revenue, with a projected CAGR of 7.4% during 2022 - 2032.

Repot Attributes

Details

Global Market Size (2022)

US$ 6.8 Billion

Global Market Size (2032)

US$ 13 Billion

Global Market CAGR (2022-2032)

6.8%

U.S. Market CAGR (2022 – 2032)

6.6%

Key Companies Covered

  • The Dow Chemical Co
  • BASF SE
  • Eastman Chemical Company
  • Mitsubishi Chemical Corporation
  • LG Chem Ltd
  • Sigma-Aldrich
  • SABIC Industries
  • Grupa Azoty
  • Zak S.A
  • Formosa Plastic Group

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Revenue of 2-Ethylhexanol Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Global 2-Ethylhexanol Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the value of the 2-Ethylhexanol Market increased at around 5.1% CAGR.

The key revenue drivers which affect the demand for 2-Ethylhexanol include an increase in the demand of plasticizers, acrylate, nitrate and strict industrial emissions laws in various countries.

The plasticizer is the market's largest application category for 2-ethylhexanol and is generating the highest revenue for the market, and it is further broken down into phthalate - and non-phthalate-containing plasticizers.

Phthalates, which are derived from phthalic acid, are the most common types of plasticizers utilized to satisfy a variety of processing and performance criteria in a wide range of markets. Flexible polyvinyl chloride, which is used in applications such as construction (flooring, wall coverings), electrical (wire and cable sheathing), consumer goods (toys, shoes, etc.), packaging, transportation (inside and outside vehicles), furniture, and medical use, accounts for 80-90% of global plasticizer consumption. Phthalates account for more than 50% of global plasticizer consumption (tubes, blood bags).

Non-phthalate also known as Naphthalate plasticizers have a distinct chemical structure and toxicological profile from phthalic acid-based plasticizers. Terephthalates-of which dioctyl terephthalate (DOTP) is the most popular - epoxies, aliphatics, trimellitates, polymers, phosphates, and other substances are among them. As a result of growing laws for some phthalates brought on by worries about human health, there is a persistent trend away from their use. Hence the usage of Naphthalate is proliferating the growth of the market.

The christening of emissions regulations is being driven by norms in Europe, the United States, India, and Japan. The European Parliament and Council passed Regulation (EU) 2019/631, which establishes CO2 emission performance standards for new passenger cars and new vans for the years 2025 and 2030, according to the European Commission. On January 1, 2020, the most recent legislation took effect, repealing and replacing Regulation (EC) No. 443/2009. Additionally, in order to control the amount of pollution, which is generated from industrial sources and cars, the governments of numerous other nations have established emission limits.

The need for high-performance fuels increased as industrial emission regulations became more stringent. The environmental friendliness of 2-ethylhexanol (2-EH) makes it a potential replacement for fuel in transportation. The 2-EH strengthens efforts to create a sustainable transportation industry by increasing the share of renewable material in the existing fleet and providing a viable alternative to transportation using fossil fuels. As a result of increasingly strict regulations, it is anticipated that the 2-Ethylhexanol market will expand due to the laws.

2-Ethylhexanol Market

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What Factors Are Propelling 2-Ethylhexanol Demand?

The key factors that are propelling the 2-Ethylhexanol demand are an increase in the usage of plasticizers, paints, and coatings. Due to increased disposable income, housing demand is anticipated to increase significantly in nations like China, and India, consequently driving the sales of 2-Ethylhexanol in these countries.

Plasticizers are widely employed in a variety of industrial applications because they have the capacity to reduce viscosity and enhance the flexibility, durability, life, and serviceability of the material to which they are added. The majority of industrial applications for plasticizers include building and renovating, producing cars, and making original equipment (OEM). The demand for plasticizers, which in turn is boosting the demand for 2-ethylhexanol globally, is growing due to rising demand from end users like the construction industry.

One of the most often utilized compounds in the synthesis of other industrial chemical components like acrylates, plasticizers, and nitrates is 2-ethylhexanol. Numerous industry sectors, including automotive, construction, plastics, pharmaceuticals, and rubber, heavily rely on these components.

While the majority of market participants are concentrating on increasing their investments in these end uses, the expanding construction and paints and coatings sectors are anticipated to have a significant impact on the global 2-ethylhexanol market.

The rise in the 2-Ethylhexanol market can also be attributed to the rising demand for 2-EH acrylate as well as the expanding automobile and construction sectors. China and India are two of the world's largest automakers, and nearly all the major automakers are present in both countries. The Society of Indian Automobile Manufacturers (SIAM) reports that wholesale sales of passenger vehicles in India climbed by 26.45% from September 2019 to September 2020, reaching 2,72,027 units. Due to these characteristics, the demand for 2-ethylhexanol will rise extensively.

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Which Factors are restraining the growth of the 2-Ethylhexanol Market?

Key regions like Europe and North America have banned the usage of plasticizers from consumer goods like children’s toys and several other things owing to growing health impacts from exposure to 2-ethylhexanol, such as headache, nausea, and throat irritation. This is predicted to impede market expansion.

The 2-ethylhexanol is a strong skin irritant and causes redness and swelling that eventually scars the skin. Irritation is also caused to eyes due to 2-Ethylhexanol. Even the respiratory tract becomes irritated by steam or mist. 2-Ethylhexanol has been discovered as a source of respiratory discomfort and respiratory issues.

A partially dry concrete PVC floor releases 2-Ethylhexanol into the atmosphere. 2-EH acrylate is categorized for its irritating and sensitizing properties. Additionally, 2-ethylhexanol is toxic to fish, invertebrates, and algae after brief exposure in aquatic creatures. As a result, 2-ethylhexanol will face more challenges due to its numerous negative consequences on both humans and aquatic life which hinders the market growth.

Can Substitution of 2-Ethylhexanol with Other Materials be a Threat in the Coming Future?

Due to various bans and awareness about the hazards of using 2-Ethylhexanol to humans and the environment, there have been many recent environment-friendly products that can replace the usage of 2-Ethylhexanol. For instance, PLA Polysters which is an aliphatic polyester that can be made from lactic acid, which is produced when fermenting starch during the wet milling of corn, is polylactic acid, or PLA.

Starch-based polymers are another substitute for 2-ethyhehanol. To create fully biodegradable plastics, starch is typically combined with aliphatic polyesters like PLA and PCL as well as polyvinyl alcohol.

The cost of making plastic is also decreased by the use of starch. Another substitute for 2-ethylhexanol is PHA Polysters which is a biodegradable plastic that can be used for packaging, plastic film, and injection bottles, is produced from maize steep liquor, molasses, and even activated sludge.

PHAs are currently utilized in a wide range of goods, including disposable food, drink, and consumer product packaging. Additionally, they are utilized to create agricultural films that are used to hold hay bales and in medical applications like as sutures.

Which Region is projected to offer the Largest 2-Ethylhexanol Market Opportunity?

During the projection period, North America is expected to be the largest 2-Ethylhexanol Market. With a historical market growth of 5.3% and a projected market growth during 2022–2032 of 6.8%.

The rise in the market is observed due to the rising industries such as automotive, construction, plastics, pharmaceuticals, and rubber industry. Some of the key players in the North American for 2-Ethylhexanol market include The Dow Chemical Co, Eastman Chemical Company and Sigma Aldrich.

Country-wise Analysis

U.S. 2-Ethylhexanol Market Analysis

The United States is expected to account for the largest market expected to reach a valuation of US$ 3.8 Bn by the end of 2032. It is projected to register an absolute dollar growth of US$ 1.8 Bn. This is due to the growth in the usage of 2-Ethylhexanol in industries such as rubber, plastic, pharma, and construction industries.

U.K. 2-Ethylhexanol Market Analysis

The U.K. 2-Ethylhexanol market is projected to reach a valuation of US$ 545.3 Mn by 2032. The market in the country is expected to register a CAGR of 6.6% during 2022 – 2032 to mark an absolute dollar opportunity of US$ 1.8 Bn.

Japan 2-Ethylhexanol Market Analysis

The 2-Ethylhexanol market in Japan is expected to gross an absolute dollar growth of US$ 358.6 Mn during 2022 – 2032 to reach a valuation of US$ 668 Mn by 2032. During this period, the market in Japan is expected to grow at a CAGR of 8.1%.

South Korea 2-Ethylhexanol Market Analysis

The 2-Ethylhexanol market in South Korea grew at a CAGR of 5.5% during 2017 – 2021. The market in the country is expected to reach a valuation of US$ 404.9 Mn by 2032. During 2022 – 2032, the market in the country is likely to gross an absolute dollar growth of US$ 217.2 Mn, registering a projected CAGR of 8.1%.

Category-wise Insights

Which Application of 2-Ethylhexanol is expected to be Most Lucrative?

2-Ethylhexanol finds its largest consumption in Plasticizers. With 7.4% projected growth during 2022 – 2032, and historic growth of 5.5%, the market revenue through plasticizers is expected to grow at the highest rate. The plasticizers market is driven by the rising demand for flexible polyvinyl chloride (PVC). The market for plasticizers is being propelled by an increase in the demand for flexible PVC materials for a variety of uses, including flooring, car interiors, coated fiber, cables, film & sheets, and toys.

Besides, PVC is increasingly in demand from the packaging industry as flexible packaging offers long-term safety, and compactness, while retaining a low carbon footprint. Because they are inexpensive and widely available, plasticizers are being used more frequently.

NGO Support and market growth are both encouraged by the use of non-phthalate plasticizers. For instance, the US Green Building Council (USGBC) encourages the use of non-phthalate plasticizers because of their environmental friendliness.

Competitive Analysis

Some of the key players operating in the 2-Ethylhexanol Market include The Dow Chemical Co, BASF SE, Eastman Chemical Company, Mitsubishi Chemical Corporation, LG Chem Ltd, Sigma-Aldrich, SABIC Industries, Grupa Azoty, Zak S.A., and Formosa Plastic Group.

Some of the recent developments in the 2-Ethylhexanol Market are :

  • In September 2021, Arkema was purchased by US-based food company Cargill Inc for an undisclosed sum. The company will be able to offer a wider range of products to its customers in the plastics, automotive, medical, furniture, flooring, and specialty chemicals industries as a result of this combination of Arkema's production capabilities and Cargill's bio-industrial knowledge.
  • In January 2019, The Adani Group and BASF have formed a joint venture to build a Rs 16,000 crore factory in Gujarat's Mundra to serve the petrochemical market. With this investment, production facilities for oxo-C4 (butanols and 2-ethylhexanol), propane dehydrogenation (PDH), glacial acrylic acid (GAA), and other downstream products were built, developed, and operated.

2-Ethylhexanol Industry Segmentation

  • By Application :

    • Plasticizers
    • 2-EH Acrylate
    • 2-EH Nitrate
    • Other Applications
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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The global 2-Ethylhexanol Market is worth more than US$ 6.8 Bn at present.

The value of 2-Ethylhexanol Market is projected to increase at a CAGR of around 13% during 2022 – 2032.

While the market in South Korea is expected to grow at nearly 8.1%, the market in Japan is projected to register a CAGR of nearly 8.1% during 2022 - 2032.

The global demand for 2-Ethylhexanol is being fueled by a considerable increase in the usage of plasticizers for construction, automobiles, plastic, rubber, and pharma industries.

The growth of the market for 2-Ethylhexanol in China is projected to expand at a CAGR of around 8.6% during 2022 – 2032.

The growth of the market for 2-Ethylhexanol in the United States is projected to expand at a CAGR of around 6.6% during 2022 – 2032.

The value of 2-Ethylhexanol Market increased at a CAGR of around 5.1% during 2017 – 2021.

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