“The global market size of 2-Ethylhexanol is estimated to exceed USD 5.3 bn by 2020”, says Visiongain
28 November 2019
The global market size of 2-Ethylhexanol (2-EH) is estimated to exceed USD 5.3 billion by 2020 and is expected to grow over the forecast period at a CAGR of more than 6.2 percent. Increasing demand for 2-EH acrylate, coupled with rising demand from Asia Pacific's fast-growing automotive and construction industries, is one of the main trends in fueling growth in the market. 2-EH is used in a range of applications, including acrylate, plasticizers, and nitrate. Such chemicals are also used in various industries, including plastics, rubber, construction, automobile, medical, and personal care. A few major players in the market have been investing in R&D activities to improve the application scope and market reach of the product and, in turn, sustain their competitive positions.
The market is driven primarily by rising demand from the paint & coatings and construction industries for 2-EH acrylate. In addition, with increasing disposable incomes in countries like the U.S., India, and China, demand for new homes and apartments is expected to grow dramatically in the coming years. In Europe and North America, however, demand for plasticizers is limited due to a ban on their use in consumer goods such as children's toys and related articles.
The rapid substitution of solvent-based products with waterborne acrylic products is expected to fuel the demand for the product, assisted by the implementation of strict air emission regulations. Replacing solvent-based coatings with waterborne coatings offers various benefits such as quick water and soap clean-up, decreased exposure to solvents, and less hazardous waste disposal & associated costs. In addition, in the case of one-component coatings, they ensure reduced worries about flammability & affect insurance costs, reduced health risks, and less mixing and minimal waste. Such factors are projected to have a positive impact over the forecast period on the market for 2-EH acrylate.
During the forecast period, Asia Pacific is expected to be the most lucrative2-ethylhexanol market. Expanding middle-class population base, rapid industrialization, and thriving manufacturing sector are some of the main factors that increase the region's demand. In the region demand for 2-ethylhexanol is dominated primarily by plasticizer (phthalate and non-phthalate) manufacturers.
Buy our report: The 2-Ethylhexanol (2-EH) Market Report 2020-2030: Forecasts by Application (Plasticizers, 2-EH Acrylate, 2-EH Nitrate), by region and analysis of leading companies operating in this industry.
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