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Oxo Alcohols Market Size, Price Trends, Report and Forecast 2027

Oxo alcohols are rapidly emerging as key raw material components in the manufacture of plasticizers and other end-use solutions. Since plasticizers are leveraged as a water reducer in concrete mixtures to improve workability, the growth of infrastructure development plans will amass considerable profits for oxo alcohol producers, especially in the United States.

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Oxo Alcohols Market Size, Price Trends, Report and Forecast 2027

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  1. Oxo Alcohols Market Size, Price Trends, Report and Forecast 2027 Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Oxo alcohols Market: • Oxo alcohols are rapidly emerging as key raw material components in the manufacture of plasticizers and other end-use solutions. Since plasticizers are leveraged as a water reducer in concrete mixtures to improve workability, the growth of infrastructure development plans will amass considerable profits for oxo alcohol producers, especially in the United States. • In July 2021, U.S. President Joe Biden and the bipartisan group entered an agreement on a once-in-a-generation infrastructure investment. The deal has included a federal investment worth $550 billion in total in America’s infrastructure, which could play a part in helping the oxo alcohols market grow. Furthermore, in January 2022, production in construction rose by 3.9% in the European Union, proliferating the need for oxo alcohol plasticizers in the region.

  3. Continued... • In developing nations, the rate of vehicle production has increased due to the growing middle-class population. According to the India Brand Equity Foundation, the production of two-wheelers, three-wheelers, passenger vehicles, and quadricycles reached 1,860,809 units in January 2022. Since lubricating oils are used to extend engine life, burgeoning vehicle production could stimulate growth in oxo alcohol production. As per estimates from Global Market Insights Inc., the oxo alcohols market from the lube oil additive segment is set to register remuneration worth more than $580 million by 2027. • Moreover, integrated oil producers are setting up projects to boost employment during peak construction in India. For instance, in June 2021, Indian Oil Corporation Limited inked an MoU with the Gujarat government to develop a LuPech (Petrochemical and Lube Integration) and Acrylics/Oxo Alcohol projects. These projects were geared toward producing and manufacturing Lube Oil Base Stock and Butyl Acrylate, among other compounds, thereby boosting the popularity of oxo alcohols.

  4. Browse key industry insights spread across 200 pages with 212 market data tables & figures from the report, “Oxo alcohols Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/oxo-alcohols-market Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2224

  5. Continued... • In the automotive industry, plasticizers are being increasingly adopted to enhance the plasticity of polyvinyl chloride (PVC) and other polymer materials. With the rise of vehicle registrations and the potential increase in demand for plasticizers in Europe, the oxo alcohols industry is slated to witness a commendable upsurge. • According to a European Automobile Manufacturers' Association (ACEA) report, passenger car registrations went up by 8% to 11 million units during the first three quarters of 2021. As a result, the growing awareness of the lightweight and other beneficial properties of PVC components could augment their usage to reduce weight and fuel consumption and consequently add impetus to oxo alcohols industry growth.

  6. Continued... • Acrylic acid is considered a major component used in the production of hygienic medical products and detergents. The unprecedented demand for cleaning and disinfection products in the wake of the COVID-19 pandemic could emerge as one of the growth drivers of oxo alcohols, as they are adopted in the manufacture of acrylate. • For example, at Stepan, a key player in surfactants and quaternary ammonium disinfectants, surfactant sales were up by 8% in 2020 as compared to the previous year in North America. Furthermore, the strong uptick of medical device contract manufacturing activities, despite COVID-19-induced disruptions, could also reinforce the oxo alcohols market landscape over the foreseeable future.

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