H1 2023: During H1 2023, BASF Petronas Chemicals, BASF SE, The Perstorp Group, and KH Neo Chem, Co. Ltd. were the key players in the global 2-Ethylhexanoic Acid (2-EHA) market. The price of 2-ethylhexanoic acid began to fall constantly from the beginning of H1 2023 in China. It was backed up by the weak cost pressure from raw material markets and weak demand for 2-ethylhexanoic acid. The prices for 2-ethylhexanol (raw material) also fell and led to low prices of 2-ethylhexanoic acid. Meanwhile, demand in the downstream paints and coatings sector was hazy as the construction industry faced an off-season slowdown and increased plasticizer consumption till March 2023. April saw a considerable decline in 2-EHA China prices due to weak demand from the downstream construction sector, which included plasticizers. The consistent decline in product pricing till June was mostly supported by falling upstream propylene prices. 2-EHA has been widely accessible in the Asian market at a reduced price, especially in China, Japan, and Malaysia, which led to poor pricing of 2-EHA in these nations. In contrast, 2-ethylhexanoic acid prices escalated swiftly from January 2023 to March 2023 across North America. In the US, 2-ethylhexanoic acid prices rose steadily as a result of strong demand sentiment. Prices for 2-ethylhexanol, the raw material for 2-ethylhexanoic acid, increased consistently from January 2023 to March 2023. It was observed that the demand for 2-ethylhexanoic acid by the plasticizer industry surged, resulting in numerous new orders and inquiries for the product across the US. Prices for 2-EHA rose in April, as US industrial activities increased. Furthermore, prices were resilient since there were no substantial shipping or transportation disruptions. The production cost of 2-EHA dropped in June, then in May as a result of falling feedstock propylene costs, resulting in poor prices of the product.
The global 2-Ethylhexanoic Acid market has expanded to reach approximately 280 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 3.08% during the forecast period until 2032. The 2-Ethylhexanoic Acid market's primary driver is the expanding demand for plastic products in the packaging sector with industrialization across the globe.
2-Ethylhexanoic acid is a thick and colorless oil. It is obtained in racemic mixed form. Propylene is used as a precursor during industrial production to synthesize 2-ethylhexanoic acid. The liquid has a light odour and belongs to the carboxylic acid family. This acid is frequently used to synthesize metal derivatives that are lipophilic and soluble in organic nonpolar solvents. It is primarily employed as a chemical intermediary in the production of medicines, polyvinylchloride (PVC) stabilizers, plasticizers, paint driers, and artificial lubricants. The primary use of 2-ethylhexanoic acid is in the metallic salts (cobalt and manganese), which are driers for unscented paints & coatings, inks, varnishes, and enamels.
The primary driving factor influencing the market is the rising demand for paints & coatings which are utilized by various industries such as automotive, building & construction, and the metal industry. With the rapid growth of population and spontaneous urbanization, the global consumption of paints & coatings will most likely rise in various industries, which will most likely favor the market growth of 2- ethylhexanoic acid. The global 2-Ethylhexanoic Acid market is anticipated to reach 380 thousand tonnes by 2032.
As of 2022, based on region-wise consumption, Asia Pacific dominates the 2-Ethylhexanoic Acid market with a consumption of approximately 42% of the market. 2-Ethylhexanoic Acid as a PVB plasticizer, offers great transparency, long durability, a high tensile strength, and elasticity. Due to growing demand of usage of PVB films and sheets in the infrastructure and building & construction end-use in developing countries like India, China, and Japan, the 2-Ethylhexanoic Acid is most likely to expand in the forecast period till 2032. Moreover, Asia Pacific also dominates as the producer of the global 2-Ethylhexanoic Acid market owing to the presence of low-cost of labor and raw material in countries like Malaysia is the key player.
Based on the end-use, the global 2-Ethylhexanoic Acid market is segregated into Paints and Coatings, Personal Care and Cosmetics, Lubricants, Plasticizers, and Others. Paints and Coatings have been the leading segment among these industries. In 2022, the Paints and Coatings industry consumed approximately 35% of the market. Coatings are utilized in a variety of industries such as automotive, furniture, marine, aerospace, and general-use sector. Furthermore, Personal Care and Cosmetics are other prominent consumer of the 2-Ethylhexanoic Acid market.
Major players in the production of Global 2-Ethylhexanoic Acid are BASF PETRONAS Chemicals Sdn. Bhd., The Perstorp Group, BASF, The Eastman Chemical Company, Elekeiroz, JXDC Chemical CO.,LTD., KH Neo Chem, Co. Ltd., and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of 2-Ethylhexanoic Acid which covers production, demand and supply of 2-Ethylhexanoic Acid market in the globe.
• To analyse and forecast the market size of 2-Ethylhexanoic Acid
• To classify and forecast Global 2-Ethylhexanoic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of 2-Ethylhexanoic Acid market in the globe.
To extract data for Global 2-Ethylhexanoic Acid market, primary research surveys were conducted with 2-Ethylhexanoic Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global 2-Ethylhexanoic Acid market over the coming years.
ChemAnalyst calculated 2-Ethylhexanoic Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical supply and demand of 2-Ethylhexanoic Acid across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• 2-Ethylhexanoic Acidmanufacturers and other stakeholders
• Organizations, forums and alliances related to 2-Ethylhexanoic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as 2-Ethylhexanoic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global 2-Ethylhexanoic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
280 thousand tonnes
Market size Volume by 2032
380 thousand tonnes
Growth Rate
CAGR of 3.08% from 2022 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2022 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Operating Efficiency, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Paints and Coatings, Personal Care and Cosmetics, Lubricants, Plasticizers, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected global market size of 2-Ethylhexanoic Acid in terms of volume for 2032?
Ans:
The global market size of 2-Ethylhexanoic Acid is expected to grow to reach approximately 380 thousand tonnes by 2032.
Q2.
Which industry is dominating the Global 2-Ethylhexanoic Acid market?
Ans:
The Paints and Coatings industry is dominating the 2-Ethylhexanoic Acid market with a market share of 35% in 2022.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.