The U.S. Oxo Alcohols market is projected to grow at high CAGR during the forecasting period (2021-2028)
CLEVELAND, OHIO, UNITED STATE AMERICA, October 22, 2021 /EINPresswire.com/ —
Oxo-alcohols are chemicals obtained by the reaction of hydrogen and carbon monoxide with an olefin and aldehyde hydrogenation. Under low-pressure circumstances, the procedure produces aldehyde isomers in the presence of a rhodium catalyst. Isobutanol (IBA), n-Butanol (NBA), and 2-Ethylhexanol are some of the most frequent oxo-alcohols (2-EH) generally used as solvents and chemical intermediates in the production of paints, varnishes, and adhesives, among other things.
On the basis of type, n-butanol (NBA) holds a dominating portion in the Oxo Alcohols market owing to its increasing use in the composition of various copolymers. These copolymers are used in various applications such as aqueous dispersions for fabrics, varnishes, inks, glues, and adhesives, resins, and dispersions for paints. The plasticizer is the largest growing application for the Oxo-Alcohol market due to the increasing demand of the segment in making soft PVC by imparting the necessary flexible and durable properties.
Growing demand for solvents for preparing paints, coatings & adhesives, lubricant additives, and chemical manufacturing
Oxo-alcohol primarily serves as a solvent in a wide range of applications such as printing inks, extractants in the production of drugs, additives in polishers, cleaners, and solubilizers in the textile industry act as a dehydrating agent (entrainer in azeotropic distillation). Normal-butanol is commonly employed as a solvent and as a feedstock in chemical reactions. Its primary function is to act as a solvent in the coatings industry.
It is commonly used as a diluent in cellulose nitrate lacquers with the potential to improve flow, gloss, and resilience because it prevents flushing when drying in humid settings. When n-Butanol is added to alkyd resin paints, even in small amounts, it reduces viscosity and enhances brushability and flow. Low concentrations of n-Butanol prevent cobwebbing in lacquers formulated from spirit-soluble resins. Furthermore, Iso-butanol is commonly employed as a solvent and as a feedstock in chemical reactions. Its primary function is to act as a solvent in the coatings industry.
It is commonly used as a diluent in cellulose nitrate lacquers with the potential to improve flow, gloss, and resistance because it prevents flushing when drying in humid settings. Thus the wide application range of Oxo-alcohol is triggering the market share for the product among various end-users. U.S. paint and coating industry is flourishing at a tremendous rate due to increasing commercial construction activities and rising demand for the product from the automotive sector in the country, creating immense opportunities for the Oxo alcohol market to grow in the forecast period. For instance, as part of the coronavirus response, the U.S. government announced a US$ 2 trillion investment in infrastructure development, including hospital facilities and highways, in March 2020. Thus improving construction projects in U.S. has improved paints and coating market share coupled with rising opportunities for the Oxo alcohol to grow in the forecast period.
• Glycol Ethers
By End-User Industry
• Buildings & Construction
• Consumer Goods
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U.S. Oxo Alcohols Market was valued at US$ XX million in 2020 and is projected to grow at a CAGR of XX% over the forecast period to reach US$ XX million by 2028 Oxo Alcohol is in great demand in the U.S, owing to many end-use industries and key players. n-butanol (NBA) is a solvent having a wide range of applications in the chemical, industrial, and retail industries.
In the U.S., more than half of the output is used as an intermediate chemical in the manufacturing of butyl acrylates or paints, coatings, and adhesives or to formulate acetates and glycol ethers, as well as direct use as an industrial solvent. Furthermore, the growing use of oxo-alcohols in the manufacture of printing inks, cleansers, resins, solubilizers, polishers, drugs, lubricant oil additives, and specialty chemicals is driving up demand for the chemical in the U.S. region.
Also, the growing construction sector of the U.S. is expected to create opportunities for the oxo alcohol market during the forecast period. For instance, the U.S. issued US$ 200 billion in February 2018 to replace its crumbling infrastructure and raise a projected US$ 1.5 trillion in state, local, and private sector investments. Furthermore, in 2018, Toyota Motors and Mazda Motors jointly announced their production plant expansion in Alabama, U.S. The expansion is expected to fuel the use of architectural U.S. Paints and Coatings, increasing opportunities for the market to proliferate in the forecast period. The presence of major U.S. suppliers of NBA and IBA such as Oxea, Dow Chemical, Eastman Chemical, BASF, and Sasol is creating immense opportunities for the future market of the product in the country.
Source: EIN Presswire