The 2-EH industry is estimated to capture a CAGR of 6.8% during the forecast period. The market is estimated to reach a valuation of US$ 12.7 billion by 2033, improving from the current valuation of US$ 6.5 billion in 2023.
How is the Demand for 2-EH Increasing in the Chemical Sector?
Several factors significantly drive the demand for 2-EH in the chemical sector. These factors are:
- Growing Construction and Infrastructure Projects: The demand for 2-EH rapidly grows in the chemical sector as a plasticizer for PVC resins. It is widely used for PVC-based materials such as fitting and pipes during the forecast period.
- Increasing Demand for Coatings and Paints: The increasing demand for coatings and paints in the chemical sector is fueling the global market. 2-EH is a key component with solvent properties, coalescing abilities, and viscosity control. The various sectors, such as automotive, industrial, and construction applications, increase the demand for 2-EH.
- Growing Apparel and Textile Industry: The rising demand for 2-EH as a plasticizer and solvent in printing and dyeing processes drives the market growth. The rising global population is surging the textile and apparel industry, increasing the adoption of 2-EH.
- Emerging Economies: The growing industries, urbanization, and infrastructure activities are increasing the demand for chemical products, including 2-EH. The increasing construction and automotive sectors in countries are fueling the global market.
- Shifting Regulations Landscape: The government imposed stringent regulations on environmental safety on several chemical ingredients. Various companies seek to comply with regulations that increase the preferences of 2-EH in certain applications.
These are a few factors that increase the demand for 2-EH in the chemical sector. The market is estimated to be influenced by economic conditions, advanced technologies, and geographical developments during the forecast period.
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Key Takeaways in 2-EH Market:
- The 2-EH market is estimated to secure a valuation of US$ 12.7 billion with a CAGR of 6.8% during the forecast period.
- The United States is dominating the global market by securing a maximum share of 16.6% by 2033.
- Germany is anticipated to capture a share of 8.9% of the global market by 2033.
- With a share of 3.2%, Japan is driving the global market during the forecast period.
- Australia is estimated to register a share of 0.7% in the global market during the forecast period.
How Are Key Players Adding Value in the Global Market?
The market is highly fragmented by several essential players globally. These players are innovating various improved and unique products by adopting several marketing methodologies. These methodologies are mergers, collaboration, product launches, partnerships, and acquisitions.
These prominent players are taking feedback to improve their product gap. They are focused on consumers’ requirements and take their efforts to satisfy their desire. These players advertise and promote their products and services online and offline platforms. They visit trade shows, seminars, and exhibitions are enhance their brand reputation and increase sales volume.
Recent Developments in the Global Market are:
In 2020, BASF announced its acquisition of Solvay’s integrated polyamide business. This acquisition strengthened BASF company’s position in the global market by enhancing the production of 2-EH.
Key Companies Profiled
- The Dow Chemical Company
- Eastman Chemical Company
- Azotowe KATMdzierzyn
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Key Segments In the 2-EH Market
By Type:
- Sapphire
- Ruby
- Emery
By Application:
- Plasticizers
- Non-phthalate
- Phthalate
- 2-EH nitrate
- 2-EH acrylate
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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