The global 2-Ethylhexanoic Acid Market is expected to grow on a digital transformational note in the next 10 years. These days, the chemical industry has started adopting digital technologies and tools as they prove to be an economically viable solution to extract more efficiencies from the once-upon-a-time incumbent processes. This would further help in designing new processes and products as well. This would be the way chemical vertical would go in the next few years.
2-Ethylhexanoic Acid Market: Introduction
2-Ethylhexanoic Acid is a carboxylic acid with molecular formula C8H16O2. It is a colourless organic compound having relatively high boiling point, mild odour, and is immiscible in water whereas is soluble in organic solvents. Production of 2-Ethylhexanoic acid involves aldol condensation of butyraldehyde to produce 2-ethylhexanal, which on oxidation produces 2-Ethylhexanoic Acid. 2-Ethylhexanoic Acid finds use in various applications including use as chemical intermediate, wood preservative, catalyst for polyurethane and in pharmaceuticals applications.
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2-Ethylhexanoic Acid Market: Dynamics
Growing demand for plasticizers and stabilizers from the end use industries coupled with increasing consumption of synthetic lubricants is expected to help bolster the growth of 2-Ethylhexanoic Acid market over the forecast period. Further, growing consumption of polyvinyl butyral (PVB) and polyvinylchloride (PVC) is expected to in turn result in increased demand for 2-Ethylhexanoic acid as it used as plasticizer and stabilizer for these compounds.
Increase in demand for paint dryer from paints and coatings industry in turn is expected to propel the demand for 2-Ethylhexanoic acid. Moreover, 2-ethylhexanoic acid is used as a corrosion inhibitor in automotive coolants and as catalyst in the production of polymers. Increasing demand from these application is expected to fuel the demand for 2-ethylhexanoic acid.
2-Ethylhexanoic Acid Market: Segmentation
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2-Ethylhexanoic Acid Market: Regional Outlook
Asia Pacific is one of the regions that is expected to dominate the global 2-ethylhexanoic acid market over the forecast period owing, primarily, to steady growth in use of 2-ethylhexanoic acid in chemicals, paints & coatings and cosmetic industries in this region coupled with the presence of developing countries such as India and China. 2-Ethylhexanoic acid market in the APAC region is slated to register a healthy CAGR over the forecast period.
Government regulations in developed regions such as Europe and North America and increasing demand for bio-based products in order to support sustainable development are expected to impact the growth of 2-Ethylhexanoic Acid Market to an extent. Besides, Europe and North America being major consumer markets of 2-Ethylhexanoic Acid, are expected to register steady growth over the forecast period.
2-Ethylhexanoic Acid Market: Key Players
Examples of some market participants in the global 2-Ethylhexanoic acid market, identified across the value chain include BASF SE, The Dow Chemical Company, Eastman Chemical Company, JXDC Chemical Co., Ltd., Perstorp Holding AB, Oxea Corporation, Elekeiroz S.A., KH Neochem Americas, Inc. and Shenyang Zhangming Chemical Co. Ltd. among others.
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It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and end use industries.
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