The isooctyl alcohol is a liquid that is used as solvent and chemical intermediate for the production of plasticizer and lubricants. It has become a significant ingredient for manufacturing plasticizer which helps to soften plastic which is used for manufacturing wire & cable and film & sheet.
Polyvinyl chloride consumes around 80% of the plasticizer produced. High demand for plasticizer in the manufacturing of flexible PVC for packaging applications is expected to drive the market.
It is produced on a large scale for various end-use industries. It is also used for making paint, printing, and dyeing.
Isooctyl Alcohol Market: Dynamics
High demand for plasticizer in these industries is surging the demand for isooctyl alcohol.
Additionally, the growing demand for isooctyl alcohol in petroleum additive or fuel additive for improving the octane rating of fuel and engine performance in terms of efficiency, maximum speed, and acceleration is expected to boost the isooctyl alcohol market growth.
The rising consumption of packaged food & beverage products across the globe is positively impacting the application of PVC in packaging. Growth in the packaging industry is also anticipated to fuel the demand for isooctyl alcohol during the forecast period.
Wire and cables insulation materials in industrial, residential and commercials sectors is also estimated to fuel the demand of isooctyl alcohol.The isooctyl alcohol manufacturers tend to increase their production capacity to meet the growing demand from end-use industry.
Few manufacturers in the industry are expanding their global footprints and distribution network to strengthen company market share.The high demand for isooctyl alcohol has attracted a large number of small scale producers in the industry.
The key development strategies majorly adopted by prominent manufacturers are expansion and acquisition. Beside, Isooctyl alcohol is an organic compound that has less stringent regulation in the industry.
Thus, the entrance of a new player in the industry is expected to be high in the coming year owing to a positive market outlook.
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COVID-19 crisis impact
The COVID-19 crisis in turn has affected the industrial and manufacturing sectors to a profound degree where most of the industry types are more or less expected to incur negative to conservative growth in the present year.
As far as Isooctyl Alcohol market is concerned, the demand from fuel additive and packaging will create sound growth effects amidst the overall end uses.
The remaining end use industries i.e. Chemicals and Industrial products will foresee a limited rate of consumption of Isooctyl Alcohol in 2020 where the recovery period is expected not earlier than the next 4 to 6 financial quarters.
Isooctyl Alcohol Market: Regional Overview
Asia-Pacific holds a significant regional share of the global isooctyl alcohol market owing to large production and consumption in countries such as China, India, and Japan, among others.
North America market is anticipated to witness strong growth due to increasing demand for paint & film and wire & cable in commercial construction projects.
Europe has significant growth potential for the packaging industry due to increasing demand for packaged food and beverage products. Latin America is likely to witness steady growth during the assessment period due to the growing paint industry.
The Middle East and Africa isooctyl alcohol market are driven by strong demand from the fuel additive industry. Saudi Arabia is one of the largest producers of petroleum product where high consumption of isooctyl alcohol for producing plasticizer, fuel additive, and lubricant oil is a key factor influencing the regional market growth.
Isooctyl Alcohol Market Participants
Some of the market participants identified in the global isooctyl alcohol market include:-
- ExxonMobil Corporation
- ThermoFisher Scientific
- Merck KGaA
- KH Chemicals,
- BOC Sciences
- Chemoxy International Ltd,
- Henan GP Chemicals Co.,Ltd
- Henan bon industrial (chemical) co, ltd.
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The research report presents a comprehensive assessment of the isooctyl alcohol market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The report also contains projections using a suitable set of assumptions and methodologies.
Isooctyl Alcohol Market: Segmentation
Basis of Application
- Solvent
- Chemical intermediate
Basis of End-Use Industry
- Packaging
- Paint & Film
- Wire & Cable
- Fuel Additive
- Other
The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with the market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Isooctyl Alcohol market report highlights:
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected Isooctyl Alcohol market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Isooctyl Alcohol market performance
- Must-have information for Isooctyl Alcohol market players to sustain and enhance their market footprint
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