According to the research report titled ‘Europe Oxo Alcohols Market Size By Application, By Product, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 - 2026‘, available with Market Study Report, Europe oxo alcohols market is projected to exceed the valuation of USD 6.5 billion over 2020-2026.
 

Surging demand for plasticizers due to rising construction activities coupled with mounting production of automobiles as well as adoption of diluents are key factors catalyzing the growth of Europe oxo alcohols market.
 

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It is to be noted that Oxo alcohol is a transparent water-like liquid which normally around 15 carbon atoms. They are extensively adopted to produce plasticizer and are also used as a chemical intermediate as well as a solvent. Oxo alcohol is essentially a type of industrial alcohol and is a result of a hydroformylation reaction called the “oxo process”.
 

Based on product gamut, the industry space is bifurcated into Iso-Butanol, N-Butanol, 2-Ethylhexanol and others. The report states that N-Butanol segment is estimated to record momentous growth during the analysis timeframe, owing to its extensive use to produce amino-resins and butyl-acetate. In addition to this, increasing construction activities and widespread adoption of N-butanol for manufacturing solvents for varnishes, plasticizers, coatings and paints are fueling the segmental share.
 

In terms of application gamut, the market is classified into acetate, solvents, plasticizers, acrylate, lube oil additives, glycol ether, adhesives and others. Among these, Europe oxo alcohols industry size from the acrylates segment has grown significantly in the recent past. This can be credited to the product’s high elasticity, flexibility and adhesion of chemicals in paints, coatings and others, as well as rising commercial construction activities.
 

Regionally, the report cites that the U.K. is deemed to emerge as a key revenue generator for Europe oxo alcohols market in the ensuing years. Rapid expansion of the real estate sector due to rising demand of houses and surging construction activities are favoring the growth of the U.K. oxo alcohols market size.
 

Some of the major companies in Europe oxo alcohols industry are Exxon Mobil Corporation, Evonik Industries AG, The Dow Chemical Company, BAX Chemicals B.V., BASF Petronas Chemicals Sdn. Bhd., ZAK Spó?ka Akcyjna, Eastman Chemical Company, Perstorp Group, and OXEA among others.