2-Ethylhexanoic Acid Market - Forecast(2022 - 2027)

Report Code: CMR 22501 Report Format: PDF + Excel

2-Ethylhexanoic Acid Market Overview

The 2-ethylhexanoic acid market size is forecast to reach US$568.3 million by 2027 after growing at a CAGR of 1.2% during 2022-2027. 2-ethylhexanoic acid is a chemical intermediate with a mild odor that is used in the processing of synthetic lubricants, polyvinylbutyral plasticizers, alkyd resins, safety glass, and paint driers. 2-ethylhexanoic acid finds its extensive use in the production of safety glass in the construction sector. The construction industry is expanding globally with increasing investment and construction activities and this is expected to influence the market’s growth during the forecast period. For instance, according to the 2021 report by India Brand Equity Foundation, demand for residential properties in India has surged owing to increased urbanization in the country. Furthermore, 2-ethylhexanoic acid is used massively in the automotive sector where it is utilized in the production of various automotive products such as windshields, side glazing, and coolants. The automotive industry is booming globally with increasing production and sales of vehicles and this is projected to drive the growth of the market during the forecast period. For instance, according to the August 2020 report by the China Association of Automobile Manufacturers, the Chinese passenger vehicle segment is anticipated to touch 30 million units by 2029 which stood at 21.44 million units in 2019. The strict regulations regarding the use of 2-ethylhexanoic acid might hamper the market’s growth during the forecast period.

COVID-19 Impact

The 2-ethylhexanoic acid market was deeply hit due to the COVID-19 pandemic. The business in the market suffered due to challenges like disruption in the supply chain and procurement of raw material amid the pandemic. Market players had to adopt new working strategies to withstand the severity of the pandemic. Furthermore, the stagnant growth in several end-use industries such as construction and automobile further affected the business in the market. The market had decent growth only towards the end of 2020. Going forwards, the market is projected to witness robust growth owing to the massive expansion in the construction and automotive sectors globally.

Report Coverage

The report: 2-Ethylhexanoic Acid Market Report - Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the 2-Ethylhexanoic Acid Industry. 

By Purity: 99% Purity and Above 99% Purity
By Application: Plasticizers, Synthetic Lubricants, Paint Driers, PVC Stabilizers, Acid Chlorides, Cosmetic Emollients, Alkyd Resins, Pharmaceutical Intermediates, Flotation Aids, Corrosion Inhibitors, and Others (Detergents, Safety Glass, Pesticides Defoaming Agent)
By End Use: Automotive, Passenger Vehicle, Commercial Vehicle (Light Commercial Vehicles, Heavy Commercial Vehicles), Personal Care, Paints and Coatings, Aerospace, Construction, Residential, Commercial (Office, Hotels and Restaurants, Educational Institutes, Others), Agriculture, Pharmaceutical, and Others
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways:

  • The construction sector is expected to drive the market’s growth during the forecast period. For instance, according to the 2021 data by Eurostat, the building construction sector in the Euro Area and European Union grew by 3.1% and 3.8% respectively in June 2021.
  • The automotive sector is projected to drive the market’s growth during the forecast period. For instance, as per the data by the European Automobile Manufacturers Association, the registrations in passenger cars jumped by +10.4% in June 2021 compared to the registrations in June 2020.
  • The Asia-Pacific region is anticipated to witness the highest demand for 2-ethylhexanoic acid owing to expanding construction sector in the region. For instance, according to the stats by India Brand Equity Foundation, Foreign Direct Investment received in construction (infrastructure) activities recorded at US$ 25.38 billion between April 2000 and June 2021.

Figure: Asia Pacific 2-Ethylhexanoic Acid Market Revenue, 2021-2027 (US$ Billion)

2-Ethylhexanoic Acid Market Revenue

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2-Ethylhexanoic Acid Market Segment Analysis - By Application

The plasticizers application segment dominated the 2-ethylhexanoic acid market in 2021 and is growing at a CAGR of 3.3% during the forecast period. 2-ethylhexanoic acid is massively utilized in the processing of plasticizers, especially polyvinylbutyral plasticizers which are later used in several applications in multiple end-use industries such as construction and automobile. Owing to such robust applications, market payers and research organizations are focused on the higher uses of 2-ethylhexanoic acid in the market. As per the September 2019 report by European Patent Office (EPO), oligoester plasticizer was obtained by using 2-ethylhexanoic acid and xylene as a catalyst. Such development of plasticizers through 2-ethylhexanoic acid is expected to stimulate the growth of the market during the forecast period.

2-Ethylhexanoic Acid Market Segment Analysis - By End Use

The construction sector dominated the 2-ethylhexanoic acid market in 2021. This acid substance is used in several applications in the construction sector. 2-ethylhexanoic acid is utilized in the production of polyvinylbutyral plasticizers which are later used in sheets and safety glass in the construction industry. The construction sector is expanding globally and this is expected to stimulate the market’s growth during the forecast period. For instance, according to the stats by Federal Reserve Economic Data, total spending in the US residential construction was recorded at USD 657,608 in September 2020 which was USD 642,031 in August 2020. Similarly, according to the 2021 Statistical Report by European Construction Industry Federation, Germany witnessed a growth of 1.5% in 2020 in real terms in total investment in construction. Such a massive boost in the global construction sector is expected to increase the use of 2-ethylhexanoic acid, thereby influencing the market’s growth during the forecast period.

2-Ethylhexanoic Acid Market Segment Analysis - By Geography

The Asia-Pacific region held the largest share in 2-ethylhexanoic acid market in 2021, up to 34%. The high demand for 2-ethylhexanoic acid is attributed to the booming construction sector in the region. 2-ethylhexanoic acid is utilized in the production of numerous components in the construction sector such as sheets and safety glasses. The construction sector in the region is exhibiting exceptional growth and this is projected to increase the demand for 2-ethylhexanoic acid in the region during the forecast period. For instance, according to the stats by trade.gov, China’s construction industry revenue value will reach USD 1.1 trillion in 2021 which was USD 968 billion in 2019. Similarly, as per the report by India Brand Equity Foundation, India will become the third-largest construction market in the world by 2022. Such a huge growth in the region’s construction sector is expected to bolster the demand for 2-ethylhexanoic acid.

2-Ethylhexanoic Acid Market – Drivers

Rising automotive sector will drive the market’s growth

The automotive industry is one of the important markets for 2-ethylhexanoic acid. This acid is used massively in the automotive sector for the production of numerous automobile products such as windshields, side glazing, and coolants. The automotive industry is rising globally with increasing production and sales of vehicles and this is anticipated to drive the growth of the market during the forecast period. For instance, according to the data by India Brand Equity Foundation, India became the fifth-largest automobile sector in 2020 as a massive 3.49 million units of automotive sold combinedly in the commercial and passenger vehicles segment. Similarly, as per the stats by the European Automobile Manufacturers Association, in 2020, hybrid electric vehicles accounted for 11.9% of total cars sold which was 5.7% in 2019. Such massive growth in the automotive sector is expected to augment the higher requirement for 2-ethylhexanoic acid, thereby contributing to the market’s growth during the forecast period.

Booming construction sector will drive the market’s growth

The construction sector is one of the largest markets for 2-ethylhexanoic acid. This acidic substance is used in several applications such as synthetic lubricants, paint driers, and alkyd resins globally, however, it finds its highest use in the construction sector for the production of polyvinylbutyral plasticizers which are later used in the manufacturing of safety glass and sheet materials for buildings and construction activities. The construction sector is booming globally with increasing construction activities and this is projected to influence the market’s growth during the forecast period. For instance, according to the report by Federal Reserve Economic Data, total residential construction spending in the US stood at US$ 599,665 million in June 2020 compared to US$ 548,306 million in June 2019. Similarly, as per the data by India Brand Equity Foundation, the Indian residential sector will grow significantly in the coming years as the central government announced the plan to build 20 million affordable homes across the country by 2022. Such a massive boost in the construction sector globally is expected to augment the market’s growth during the forecast period.

2-Ethylhexanoic Acid Market – Challenges

The strict regulations regarding 2-ethylhexanoic acid might hamper the market’s growth

2-ethylhexanoic acid is associated with an adverse impact on human health owing to which its use in the market is strictly monitored by various governing bodies. This has been a major challenge in the market and might hamper the market’s growth during the forecast period. As per the data by Inchem.org, too much exposure to 2-ethylhexanoic acid might lead to skin irritation, coughing, and pain in the eye. Similarly, Occupational Safety and Health Administration has set a permissible exposure limit of 5 mg/m³ for 2-ethylhexanoic acid. Such regulations regarding the use of 2-ethylhexanoic acid might hamper the market’s growth during the forecast period.

2-Ethylhexanoic Acid Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the 2-Ethylhexanoic Acid Market. Global 2-Ethylhexanoic Acid top 10 companies include:

1. BASF SE
2. Dow Inc.
3. Perstorp Holding AB
4. The Eastman Chemical Company
5. OQ Chemicals Corporation
6. KH Neochem Co. Ltd
7. JXDC Chemicals Co., Ltd
8. TCI Chemical India Pvt Ltd
9. Elekeiroz S.A.
10. Shenyang Zhanming Chemical Co. Ltd.

Recent Developments

  • In October 2021, BASF and PETRONAS Chemicals Group Berhad announced the plan to expand the production capacity of 2-Ethylhexanoic Acid annually from 30,000 to 60,000 metric tons by 2024.
  • In June 2021, Perstorp announced that it will increase its production capacity of 2-Ethylhexanoic Acid from 2022 to meet the rising demand for 2-Ethylhexanoic Acid in the market.

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1. 2-Ethylhexanoic Acid Market- Market Overview
    1.1 Definitions and Scope
2. 2-Ethylhexanoic Acid Market- Executive Summary
    2.1 Key Trends by Purity
    2.2 Key Trends by Application
    2.3 Key Trends by End Use
    2.4 Key Trends by Geography
3. 2-Ethylhexanoic Acid Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. 2-Ethylhexanoic Acid Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. 2-Ethylhexanoic Acid Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. 2-Ethylhexanoic Acid Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. 2-Ethylhexanoic Acid Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. 2-Ethylhexanoic Acid Market Segment Analysis – By Purity (Market Size -US$ Million, Billion)
    8.1 99% Purity
    8.2 Above 99% Purity
9. 2-Ethylhexanoic Acid Market Segment Analysis – By Application (Market Size -US$ Million, Billion)
    9.1 Plasticizers
    9.2 Synthetic Lubricants
    9.3 Paint Driers
    9.4 PVC Stabilizers
    9.5 Acid Chlorides
    9.6 Cosmetic Emollients
    9.7 Alkyd Resins
    9.8 Pharmaceutical Intermediates
    9.9 Flotation Aids
    9.10 Corrosion Inhibitors
    9.11 Others (Detergents, Safety Glass, Pesticides Defoaming Agent)
10. 2-Ethylhexanoic Acid Market Segment Analysis – By End Use (Market Size -US$ Million, Billion)
    10.1 Automotive
        10.1.1 Passenger Vehicle
        10.1.2 Commercial Vehicle
            10.1.2.1 Light Commercial Vehicles
            10.1.2.2 Heavy Commercial Vehicles
    10.2 Personal Care
    10.3 Paints and Coatings
    10.4 Aerospace
    10.5 Construction
        10.5.1 Residential
        10.5.2 Commercial
            10.5.2.1 Office
            10.5.2.2 Hotels and Restaurants
            10.5.2.3 Educational Institutes
            10.5.2.4 Others
    10.6 Agriculture
    10.7 Pharmaceutical
    10.8 Others
11. 2-Ethylhexanoic Acid Market Segment Analysis - By Geography (Market Size -US$ Million / Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 ROW
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of Middle East
        11.5.2 A frica
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. 2-Ethylhexanoic Acid Market-Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. 2-Ethylhexanoic Acid Market- Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix- Major Companies
    13.2 Market Share at Global Level- Major companies
    13.3 Market Share by Key Region- Major companies
    13.4 Market Share by Key Country- Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category- Major companies
14. 2-Ethylhexanoic Acid Market- Key Company List by Country Premium Premium 
15. 2-Ethylhexanoic Acid Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global 2-Ethylhexanoic Acid Size Analysis, by Method of Production, Market 2019-2024 ($M)
1.1 Butyraldehyde Market 2019-2024 ($M) - Global Industry Research
1.2 Octanol Market 2019-2024 ($M) - Global Industry Research
2.Global 2-Ethylhexanoic Acid Size Forecast, by End-user, Market 2019-2024 ($M)
3.Global Competition Landscape Market 2019-2024 ($M)
3.1 The Perstorp Group Market 2019-2024 ($M) - Global Industry Research
3.2 BASF SE Market 2019-2024 ($M) - Global Industry Research
3.3 Heat Mapping Market 2019-2024 ($M) - Global Industry Research
4.Global 2-Ethylhexanoic Acid Size Analysis, by Method of Production, Market 2019-2024 (Volume/Units)
4.1 Butyraldehyde Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Octanol Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global 2-Ethylhexanoic Acid Size Forecast, by End-user, Market 2019-2024 (Volume/Units)
6.Global Competition Landscape Market 2019-2024 (Volume/Units)
6.1 The Perstorp Group Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 BASF SE Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 Heat Mapping Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America 2-Ethylhexanoic Acid Size Analysis, by Method of Production, Market 2019-2024 ($M)
7.1 Butyraldehyde Market 2019-2024 ($M) - Regional Industry Research
7.2 Octanol Market 2019-2024 ($M) - Regional Industry Research
8.North America 2-Ethylhexanoic Acid Size Forecast, by End-user, Market 2019-2024 ($M)
9.North America Competition Landscape Market 2019-2024 ($M)
9.1 The Perstorp Group Market 2019-2024 ($M) - Regional Industry Research
9.2 BASF SE Market 2019-2024 ($M) - Regional Industry Research
9.3 Heat Mapping Market 2019-2024 ($M) - Regional Industry Research
10.South America 2-Ethylhexanoic Acid Size Analysis, by Method of Production, Market 2019-2024 ($M)
10.1 Butyraldehyde Market 2019-2024 ($M) - Regional Industry Research
10.2 Octanol Market 2019-2024 ($M) - Regional Industry Research
11.South America 2-Ethylhexanoic Acid Size Forecast, by End-user, Market 2019-2024 ($M)
12.South America Competition Landscape Market 2019-2024 ($M)
12.1 The Perstorp Group Market 2019-2024 ($M) - Regional Industry Research
12.2 BASF SE Market 2019-2024 ($M) - Regional Industry Research
12.3 Heat Mapping Market 2019-2024 ($M) - Regional Industry Research
13.Europe 2-Ethylhexanoic Acid Size Analysis, by Method of Production, Market 2019-2024 ($M)
13.1 Butyraldehyde Market 2019-2024 ($M) - Regional Industry Research
13.2 Octanol Market 2019-2024 ($M) - Regional Industry Research
14.Europe 2-Ethylhexanoic Acid Size Forecast, by End-user, Market 2019-2024 ($M)
15.Europe Competition Landscape Market 2019-2024 ($M)
15.1 The Perstorp Group Market 2019-2024 ($M) - Regional Industry Research
15.2 BASF SE Market 2019-2024 ($M) - Regional Industry Research
15.3 Heat Mapping Market 2019-2024 ($M) - Regional Industry Research
16.APAC 2-Ethylhexanoic Acid Size Analysis, by Method of Production, Market 2019-2024 ($M)
16.1 Butyraldehyde Market 2019-2024 ($M) - Regional Industry Research
16.2 Octanol Market 2019-2024 ($M) - Regional Industry Research
17.APAC 2-Ethylhexanoic Acid Size Forecast, by End-user, Market 2019-2024 ($M)
18.APAC Competition Landscape Market 2019-2024 ($M)
18.1 The Perstorp Group Market 2019-2024 ($M) - Regional Industry Research
18.2 BASF SE Market 2019-2024 ($M) - Regional Industry Research
18.3 Heat Mapping Market 2019-2024 ($M) - Regional Industry Research
19.MENA 2-Ethylhexanoic Acid Size Analysis, by Method of Production, Market 2019-2024 ($M)
19.1 Butyraldehyde Market 2019-2024 ($M) - Regional Industry Research
19.2 Octanol Market 2019-2024 ($M) - Regional Industry Research
20.MENA 2-Ethylhexanoic Acid Size Forecast, by End-user, Market 2019-2024 ($M)
21.MENA Competition Landscape Market 2019-2024 ($M)
21.1 The Perstorp Group Market 2019-2024 ($M) - Regional Industry Research
21.2 BASF SE Market 2019-2024 ($M) - Regional Industry Research
21.3 Heat Mapping Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
2.Canada 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
3.Mexico 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
4.Brazil 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
5.Argentina 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
6.Peru 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
7.Colombia 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
8.Chile 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
9.Rest of South America 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
10.UK 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
11.Germany 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
12.France 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
13.Italy 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
14.Spain 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
15.Rest of Europe 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
16.China 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
17.India 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
18.Japan 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
19.South Korea 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
20.South Africa 2-Ethylhexanoic Acid Market Revenue, 2019-2024 ($M)
21.North America 2-Ethylhexanoic Acid By Application
22.South America 2-Ethylhexanoic Acid By Application
23.Europe 2-Ethylhexanoic Acid By Application
24.APAC 2-Ethylhexanoic Acid By Application
25.MENA 2-Ethylhexanoic Acid By Application