2-Ethylhexanol Market: By Application (Plasticizers, 2-EH Acrylate, 2-EH Nitrate, Others), End-User Industry (Paint and Coatings, Adhesives, Pharmaceutical, Industrial Chemicals, Others) and Geography

2-Ethylhexanol Market Size was valued at USD 6,032.7 million in 2022 and is poised to grow at a CAGR of 2.7% over 2023-2029. 2-Ethylhexanol is an organic compound with formula C8H18O that is a colorless liquid and is insoluble in water but is soluble in organic solvents that are used to make the vinyl chloride plasticizer, bis (2-ethyl hexyl) phthalate. The increased demand for plasticizers in the construction industry drives the 2-Ethylhexanol market. According to AGC, the Construction Association, the construction industry has expanded tremendously in the US and creates nearly $1.8 trillion worth of structures each year. Furthermore, the expansion of the chemical industry, particularly in emerging economies is anticipated to propel the market in upcoming years. According to the European Chemical Industry Council (CEFIC), the sales of chemicals globally were approximately €4,026 billion in 2021. The growing emphasis on sustainability and ecologically friendly products has created several opportunities for the development of biodegradable plasticizers that include 2-ethylhexanol as a component. Additionally, due to regulatory concerns and consumer desires for safer plastic products, increasing trend towards the usage of non-phthalate plasticizers, particularly those based on 2-ethylhexanol. But, the constant fluctuation of prices of raw materials particularly of n-butanol, along with increased regulatory restrictions and environmental concerns for the manufacturing and usage of 2-Ethylhexanol-based products, especially in plasticizers may hinder the market growth. However, increasing demand for plastics in industries, increased demand for solvents in various industries such as pharmaceuticals, personal care, and agrochemicals, emergence of new companies, and increase in competition are anticipated to burgeon the market during forecasted years.

2-Ethylhexanol Market Key Development:

• In June 2022, Leading specialty chemicals innovator Perstorp introduced 2-Ethylhexanol based on 25% renewable raw material according to a traceable mass balance concept. -EH Pro 25 is designed to reduce the carbon footprint throughout the value chain where it is used to support sustainable sourcing of renewable and recycled raw materials.
• In May 2021, BPCL's petrochemical launched 2 Ethyl Hexanol products from the world-class Oxo Alcohol Unit of Bharat Petroleum Propylene Derivative Petrochemical Complex at Kochi Refinery.