According to ChemAnalyst report, “Global 2-Ethylhexanoic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, The 2-Ethylhexanoic Acid market is likely to expand and grow to reach 380 thousand tonnes by 2032 at a healthy CAGR of 3.08% in the forecast period. In the upcoming years, it is predicted that with rising infrastructure development and an increase in the number of automobiles, the demand for paints & coating will rise which will most likely fuel the market for 2-Ethylhexanoic Acid market in the forecast period.
2-Ethylhexanoic acid is a thick and colourless 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. It is primarily employed as a chemical intermediate in the production of stabilisers, plasticizers, paint driers, synthetic oils, polyvinyl chloride (PVC), and catalysts. The primary application of this acid is in the form of metallic salts (cobalt and manganese) as a drier for unscented paints, inks, varnish, and enamel paints. Other uses include manufacturing adhesives & sealants, corrosion inhibitors, intermediates, anti-scaling agents, lubrication additives, and process regulators.
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The 2-Ethylhexanoic acid market is primarily driven by its application in the paints and coating industry. Many different industries, including the automotive, furniture, marine, aerospace, and general-use sector, use these coatings. With the rising vehicle production and sales, the automotive industry is flourishing internationally, and this is expected to fuel the 2-Ethylhexanoic acid market expansion over the next years. The construction sector is expected to further drive the rising demand for paints & coatings, supporting the market’s growth in the forthcoming years.
The 2-Ethylhexanoic Acid market is segmented based on end-use, sales channel, and region. 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. Furthermore, Personal Care and Cosmetics are other prominent consumer of the 2-Ethylhexanoic Acid market.
Based on region-wise consumption, Asia Pacific dominates the 2-Ethylhexanoic Acid market with a consumption of approximately 42% of the global 2-Ethylhexanoic Acid market in 2022. 2-Ethylhexanoic Acid as a PVB plasticizer, 2-ethylhexanoic acid offers great transparency, long durability, high tensile strength, and elasticity Due to the growing 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 will most likely expand in the forecast period till 2032. Moreover, Asia Pacific also dominates as the producer of the global 2-Ethylhexanoic Acid market due to factors like low-cost of labour and raw material in countries like Malaysia being the key player.
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“Global 2-Ethylhexanoic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, the significant players in the 2-Ethylhexanoic Acid market include 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.
“Consistently growing demand for paints & coatings for application in various industries augments the 2-Ethylhexanoic Acid market growth in the forecast period. The primary application of this acid is in the form of metallic salts as driers in paints which are further employed by various industries such as automotive, construction, metal, and general use. Currently, Asia Pacific is the leading consumer of this acid and is anticipated to maintain its position owing to fast-paced construction activities and an increase in the sale of vehicles in the forecast period till 2032. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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