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Isooctyl Alcohol Market

Market Insights on Isooctyl Alcohol covering sales outlook, demand forecast & up-to-date key trends

Isooctyl Alcohol Market By Application, End Use Industry & Region | Forecast 2023 to 2033

Isooctyl Alcohol Market Snapshot

The global isooctyl alcohol market is estimated to reach a valuation of US$ 235.6 Million by the year 2023, as per the latest analysis of FMI. The rising demand from plasticizer and lubricant manufacturers is expected to grow the market with a moderate growth rate of 3.7% to reach a valuation of US$ 338.8 Million by the end of 2033.

Market Size 2022

US$ 227.1 Million

Market Size 2023

US$ 235.6 Million

Market Size 2033

US$ 338.8 Million

Value CAGR between 2023 and 2033

3.7%

Isooctyl Alcohol is a clear, colourless liquid with a weak, pleasing odour. It is widely used as a chemical intermediate and as a solvent in the manufacturing of plasticizers, synthetic drying oils, lubricating and cutting oils, and hydraulic fluids.

Isooctyl alcohol is also utilized as an intermediate for non-ionic detergents and surfactants, resin solvents, emulsifiers, anti-foaming agents, and an intermediate for introducing the isooctyl group into another compound.

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Historic (2018 to 2022) Vs Forecast (2023 to 2033) Market Outlook for Global Isooctyl Alcohol

According to the FMI analysis, the global isooctyl alcohol market witnessed a CAGR of 3.1% between 2018 and 2022. The market stands at US$ 235.6 Million in 2023. The pandemic outbreak forced the suspension of various infrastructure projects and the complete shutdown of various industrial and manufacturing facilities. This has affected the global market by disrupting the supply and demand chains over the historical period.

The isooctyl alcohol industry is anticipated to foresee an increased CAGR of 3.7% between 2023 and 2033. Growing demand for isooctyl alcohol in petroleum additives or fuel additives for improving the octane rating of fuel and engine performance in terms of efficiency, acceleration, and maximum speed is expected to boost the target market. Rising consumption of packaged food & beverage products and the growth of packaging industry are also anticipated to fuel the demand for isooctyl alcohol during the forecast period.

Market Dynamics

Increasing demand from end-use industry is bolstering the sales of isooctyl alcohol

The high demand for plasticizers for the manufacturing of various end-use products is bolstering the demand for the product market during the forecast period. It is estimated that nearly 80% of the plasticizer produced is consumed for the production of polyvinyl chloride. Increasing consumption of plasticizers in the manufacturing of flexible PVC for numerous applications is expected to drive industry growth. Packed food & beverage packaging is one of the key applications that utilize a significant amount of PVC packaging.

Increasing penetration of organized retail, changing consumer lifestyles, rising urban population, and increasing demand for packed food and beverages, along with the advent of innovative packaging solutions, such as edible packaging, bioplastic packaging, active packaging, and modified packaging are a few factors opening new avenues for the packaging industry. On the other hand, the robust growth of the e-commerce sector and its increasing preference for lightweight and flexible packaging solutions is also anticipated to boost the consumption of isooctyl alcohol for the production of end-use products used to manufacture plastic packaging.

Stringent regulations imposed by regulatory bodies can limit the market expansion in forecast period

Stringent regulations imposed by the government and authorities against the manufacturing and use of hazardous chemicals are likely to control the growth of the product market to a certain extent. The adherence to various guidelines followed by the manufacturers to produce their products may affect and slow down the overall growth rate of the isooctyl alcohol market in the forecast period. The availability of several other substitute products is also expected to limit the market expansion over the forecast period.

Nikhil Kaitwade
Nikhil Kaitwade
Principal Consultant
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Segment-wise Analysis

Which segment dominates the industry by type?

By Application, Chemical Intermediate dominate consumption in the product market

The chemical intermediate segment is anticipated to dominate the global market in 2023 and is expected to continue this dominance during the forecast period. Increasing demand for chemical intermediates from numerous end-use industries to produce a wide range of chemicals is one of the primary factors bolstering the sales of isooctyl alcohol as a chemical intermediate. Robust development of various end-use industries, such as paints, packaging, and, building and construction is also surging the demand for isooctyl alcohol as a chemical intermediate among these industries.

Which End Use Industry segment has the largest consumption of isooctyl alcohol?

Packaging Industry consumes a larger share of the isooctyl alcohol market

Based on the End Use Industry, the packaging segment of isooctyl alcohol is leading in terms of market share. Robust growth of key end-use industries, such as pharmaceuticals, food & beverages, personal care, and household care is one of the primary factors driving the global packaging industry. PVC Packaging offers both flexible & rigid, lightweight, and transparent forms of packaging, resulting in increased demand from these end-use industries.

The paint and film segment is expected to hold a significant share of the isooctyl alcohol market and is expected to grow with a moderate growth rate during the forecast period. Rising urbanization, growing population, and increasing demand for housing and commercial buildings are anticipated to drive the global paints industry. Surging demand for paints and films from building and construction industries is expected to increase consumption of plasticizers, which in turn bolsters the global isooctyl alcohol market during the forecast period.

Region-wise Analysis

Which region is leading the industry by consumption?

Asia-Pacific to hold a significant regional share of the product market

The Asia-Pacific region leads the consumption of isooctyl alcohol owing to the large production and consumption of various end-use products in countries such as China, India, and Japan, among others. Increasing construction activities, rising government spending on private and public infrastructure projects, and rapid development of the industrial and manufacturing sectors are anticipated to boost the consumption of isooctane from various end-use industries in the region.

How are North America and Europe performing in the global Isooctyl Alcohol market?

Increasing demand for paint & film in the construction industry to create lucrative opportunities for product market

North America is estimated to hold a significant market share of isooctyl alcohol market followed by the Asia Pacific region and is expected to expand at a significant CAGR during the coming assessment period. Increasing demand for paint & film and wire & cable in residential and commercial construction projects is anticipated to boost the consumption of the isooctyl alcohol market in the region.

Europe is estimated to provide significant growth opportunities to isooctane manufacturers in the coming years. The surging growth of the packaging industry due to rising demand for packed food & beverages, and increasing consumption of paints and films in the automotive industry are bolstering the product market in the region.

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Market Competition

The global isooctyl alcohol market players are focused on expanding their market presence through merger and acquisition activities. The major players intend to increase their market presence in South Asia emerging markets by putting extra effort into developing value chains in these regions.

A few of the key participants present in the global demand of the Isooctyl Alcohol market include ExxonMobil Corporation, Chevron Phillips Chemical Company, ThermoFisher Scientific, Merck KGaA, KH Chemicals, BOC Sciences, Chemoxy International Ltd, Henan GP Chemicals Co., Ltd., Henan Bon Industrial (Chemical) Co., Ltd., GJ Chemical, and among others. More insights on these players and their recent developments are available in the report.

Scope of the Report

Attribute

Details

Growth Rate

CAGR of 3.7% between 2023 and 2033

Base Year for Estimation

2022

Historical Data

2018 to 2022

Forecast Period

2023 to 2033

Quantitative Units

Revenue in USD Million, Volume in Tons, and CAGR between 2023 and 2033

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Drivers, Restraints, Opportunities, Trends, and Pricing Analysis

Segments Covered

  • Application
  • End Use Industry
  • Region

Regions Covered

  • North America
    • United States of America
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • East Asia
    • South Korea
    • China
    • Japan
  • South Asia and Pacific
    • India
    • ASEAN
    • Australia and New Zealand
    • Rest of South Asia and Pacific
  • Western Europe
    • Germany
    • France
    • Spain
    • Italy
    • BENELUX
    • Nordics
    • United Kingdom
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Hungary
    • Romania
    • Czech Republic
    • Rest of Eastern Europe
  • Central Asia
  • Russia and Belarus
  • Balkan and Baltic Countries
  • Middle East and Africa
    • King of Saudi Arabia
    • Türkiye
    • Northern Africa
    • South Africa
    • Israel
    • Rest of Middle East and Africa

Key Companies Profiled

  • ExxonMobil Corporation
  • Chevron Phillips Chemical Company
  • ThermoFisher Scientific
  • Merck KGaA
  • KH Chemicals
  • BOC Sciences
  • Chemoxy International Ltd.
  • Henan GP Chemicals Co., Ltd.
  • Henan Bon Industrial (Chemical) Co., Ltd.
  • GJ Chemical
  • Others

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Key Segments Profiled in the Isooctyl Alcohol Market Report Isooctyl Alcohol Market

By Application, Isooctyl Alcohol Market is segmented as:

  • Solvent
  • Chemical Intermediate

By End Use Industry, Isooctyl Alcohol Market is segmented as:

  • Packaging
  • Paint & Film
  • Wire & Cable
  • Fuel Additive
  • Other

By Region, Isooctyl Alcohol Market is segmented as:

  • North America
  • Latin America
  • East Asia
  • South Asia and Pacific
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia and Belarus
  • Balkan and Baltic Countries
  • Middle East and Africa

Frequently Asked Questions

In 2022, the value of the global market reached over US$ 227.1 Million.

In 2023, the value of the global market reached over US$ 235.6 Million.

The global market is projected to reach US$ 338.8 Million by the end of 2033.

The global market exhibit a CAGR of 3.1% over the last 4 years.

The global market is estimated to grow with a CAGR of 3.7% from 2023 to 2033.

The packaging end-use industry is estimated to lead the global market in 2023.

The paint and films industry segment is projected to lead the global market in the forecast period.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Isooctyl Alcohol Market