H1 2023: 2-Ethylhexanol (2-EH) prices fluctuated in the Asia Pacific region in H1 2023. In January, the Chinese market saw a rise in 2-Ethyl Hexanol prices, attributed to increased demand from the plasticizer sector and elevated upstream feedstock costs. However, February witnessed a decrease in 2-EH prices in China, driven by inadequate upstream support and weakened demand. March 2023 saw an upward trend in 2-EH prices due to heightened consumption from downstream industries. This positive price movement was fueled by robust domestic demand for 2-EH in China and limited product availability in the market. The constrained supply from traders, coupled with insufficient product availability to meet the demand from downstream industries, contributed to the increased cost of the product. During the Q2 2023, 2-Ethylhexanol prices experienced fluctuations in the Asia Pacific region. Prices underwent an initial decline, followed by an increase, and ultimately decreased around the end of the quarter. In April, there was a significant drop in 2-Ethylhexanol prices due to a weak trading market in Asia. The downtrend was further influenced by ample inventories and weak market fundamentals. The demand for 2-Ethylhexanol in the downstream Dioctyl Phthalate (DOP) market declined, impacting both domestic Chinese and overseas markets due to diminished purchasing from end users. Notably, the availability of the product was hampered in May as a response to the subdued demand from downstream industries, resulting in hike in prices. However, June saw a dip in 2-EH prices in Asia.
The global 2-Ethylhexanol market stood at nearly 4350 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 5.29% during the forecast period until 2032.
2-Ethylhexanol (2-EH) is a versatile chemical compound with widespread applications across diverse industries. Primarily utilized in the production of plasticizers, notably dioctyl phthalate (DOP), 2-EH enhances the flexibility and durability of plastics. Ethyl hexanol is employed in the production of plasticizers specifically designed for polyvinyl chloride. When it reacts with phthalic anhydride, it yields bis(2-ethylhexyl) phthalate (DOP, DEHP). Additionally, its reaction with adipic acid results in bis(2-ethylhexyl) adipate. Furthermore, through esterification with acrylic acid, 2-Ethylhexanol is transformed into 2-ethylhexyl acrylate, a crucial component used in the formulation of adhesives and paints. Its role as a solvent is pivotal in the manufacturing of coatings, paints, and varnishes, where it aids in dissolving various components to ensure optimal consistency and application properties. Additionally, 2-Ethylhexanol is a key ingredient in the production of synthetic resins, including alkyd resins, commonly employed in coatings, adhesives, and printing inks. It serves as a crucial raw material for the synthesis of 2-ethylhexyl acrylate, contributing to the manufacturing of adhesives, sealants, and coatings. Beyond industrial applications, 2-Ethylhexanol finds utility in the food industry as a flavouring agent and plays a role in the formulation of surfactants for use in detergents and cleaning products. Its versatility extends to the textile industry, acting as a softening agent, while also being incorporated into certain cosmetic and personal care products such as perfumes and lotions. Furthermore, 2-Ethylhexanol is occasionally employed as a fuel additive and in metalworking fluids, showcasing its adaptability across a spectrum of applications. However, it is crucial to handle 2-Ethylhexanol with care due to its flammable nature and potential health hazards.
One of the main factors driving the market is the rising need for 2-Ethylhexanol in Plasticizer industry. The versatile applications of 2-Ethylhexanol in these key industries underscore its significance as a market driver, as the demand for plasticizers, adhesives, and paints continues to rise in response to various industrial needs. A significant driver was its role in plasticizers production, particularly dioctyl phthalate (DOP) and dioctyl terephthalate (DOTP), extensively utilized in manufacturing PVC products like cables, flooring, and wall coverings. The paints and coatings industry emerged as a major consumer of 2-Ethylhexanol, contributing to various coatings for automotive and industrial applications. The market experienced heightened demand due to the growth in the construction and automotive sectors. Moreover, 2-Ethylhexanol played a pivotal role in the production of synthetic resins and adhesives, aligning with the expansion of the construction sector and increased adhesive applications. Its utility extended to consumer goods manufacturing, finding application in the production of items like plasticizers in toys, cosmetics, and medical devices. The global demand for these consumer goods played a significant role in propelling the market's expansion. Overall, the growth in end-user industries, encompassing construction, automotive, and consumer goods manufacturing, are steering the demand trajectory for 2-Ethylhexanol during the forecast period. The global 2-Ethylhexanol market is anticipated to increase as a result of these reasons and reach 7240 thousand tonnes by 2032.
Asia Pacific region is the largest consumer of 2-Ethylhexanol and is anticipated to grow rapidly. Anticipated as the most rapidly expanding market, the surge in demand for 2-ethylhexanol across diverse industries is a notable driver. China is poised to play a pivotal role in contributing significant revenue within the Asia Pacific (APAC) region, attributed to robust industrial growth. Factors such as escalating disposable income and infrastructure development and repair are fortifying the expansion of pivotal end-use sectors, including paints & coatings, plastics, and construction. Furthermore, the escalating infrastructure investments in India, complemented by the government's Make in India initiative, are expected to yield positive outcomes for segments like plasticizers produced using 2-EH.
Based on the end-user industry, the global 2-Ethylhexanol market is divided into Plasticizers, 2-Ethylhexyl acrylate, 2-Ethylhexyl nitrate, and Others. Although, Plasticizers is the leading segment and had a market share of nearly 52% in 2022. Also, 2-Ethylhexanol is used as a feedstock to produce 2-Ethylhexyl acrylate is used in adhesives, coatings, and sealants, providing flexibility, adhesion, and impact resistance in various industrial applications.
Major players in the Global 2-Ethylhexanol market are Eastman Chemical Company, BASF SE, BASF-YPC Company Limited, BASF Petronas Chemicals Sdn. Bhd, OQ Chemicals, Perstorp Oxo AB, Grupa Azoty S.A., Gazprom Neftekhim Salavat JSC, Luxi Chemical Group Co., Ltd, Sinopec Qilu Petrochemical Corporation, Nan ya plastics corporation, Shandong Jinling Chemical Co., Ltd., LG Chem Ltd., Bharat Petroleum Corporation Limited, Hanwha Solutions Chemical Division, and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of 2-Ethylhexanol which covers production, demand and supply of 2-Ethylhexanol market in the globe.
• To analyse and forecast the market size of 2-Ethylhexanol
• To classify and forecast Global 2-Ethylhexanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of 2-Ethylhexanol market in the globe.
To extract data for Global 2-Ethylhexanol market, primary research surveys were conducted with 2-Ethylhexanol 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-Ethylhexanol market over the coming years.
ChemAnalyst calculated 2-Ethylhexanol demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce 2-Ethylhexanol. 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-Ethylhexanol manufacturers and other stakeholders
• Organizations, forums and alliances related to 2-Ethylhexanol 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-Ethylhexanol 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-Ethylhexanol 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
4340 thousand tonnes
Market size Volume in 2032
7250 thousand tonnes
Growth Rate
CAGR of 5.29 % from 2023 to 2032
Base year for estimation
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Plasticizers, 2-Ethylhexyl acrylate, 2-Ethylhexyl nitrate, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was global market size of 2-Ethylhexanol in terms of volume in 2022?
Ans:
The global market size of 2-Ethylhexanol had reached roughly 4340 thousand tonnes in 2022.
Q2.
Which industries are the leading consumers of 2-Ethylhexanol?
Ans:
Plasticizers, 2-Ethylhexyl acrylate, 2-Ethylhexyl nitrate, and Others are the leading consumers of 2-Ethylhexanol globally.
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