The 2-EH market is expected to exhibit a CAGR of 6.7% from 2022 to 2032. Throughout the projection period, the 2-EH market share is poised to reach a total revenue of US$ 12 Billion by 2032 by improving from the current valuation of US$ 6.3 Billion in the year 2022.
Massive amounts of 2-EH are produced across the globe which is utilized in the manufacturing of several types of plasticizers, such as phthalate and non-phthalate plasticizers. Among such types of plasticizers, phthalates are basically phthalic acids, and they are utilized in a wide range of end-use industries owing to their processing and performance characteristics.
During the upcoming years, FMI has anticipated that demand for 2-EH is expected to be significantly higher in several industries including automotive, construction, and remodeling along with original equipment manufacturers (OEMs).
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Key Takeaways
- A prevalent rise is seen in the construction and paints & coating landscape which is expected to uphold the 2-EH market during the forecast period. Being one of the most commonly used chemicals, the 2-EH chemical is widely utilized in the manufacturing of an array of other industry-grade chemical components such as acrylate, plasticizers, and nitrate. These components are diversely applicable in several industrial landscapes including automotive, construction, plastic, pharmaceuticals, and rubber.
- The growing automotive industry is gaining rapid traction in the 2-EH market. In addition to that, the paints and coatings industry is widely excelling as their application in the automotive industry is contributing to the rise in consumption of 2-ethyl hexanol across this industry.
- Most of the stakeholders are concentrating on propelling their investment base in these end-use applications, which is resulting in surging growth of the construction and paints & coatings industries. These factors are expected to influence vital trends in the global 2-ethyl hexanol market in the coming years.
- A significant rise in disposable incomes of consumers in developing countries such as the Asia Pacific region is responsible for triggering a plethora of construction activities and infrastructure development across these geographies. Among some of the most crucial raw materials of different construction materials, the demand for 2-ethyl hexanol is expected to remain high in the construction industry.
- Phthalates account for more than half of the global consumption of plasticizers which has been noticed by the leading players in the 2-EH market. Additionally, they are aiming to capitalize on the growing sales of 2-EH in the phthalates industry.
Competitive Landscape
Just like any fragmented market, small and medium-sized businesses are predicted to face competition in the market. Prominent market leaders are focusing on catering to various end-use industries including building & construction, paints & coatings, marine, and transportation, in order to gain momentum in this landscape.
The rising presence of regional players along with global leaders in the 2-EH market is expected to dominate the market fragmentation across the forthcoming years. Key players are likely to focus on offering 2-ethyl hexanol for commercial construction and low-cost housing projects in the Asia Pacific to gain momentum in the region.
Small and regional players are gradually establishing a stronghold in the global landscape while leading market players are leveraging their large distribution networks to expand their customer bases.
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Key Companies Profiled
- The Dow Chemical Company
- Eastman Chemical Company
- Azotowe KATMdzierzyn
- Others
Key Segments In the 2-EH Market
By Type:
- Sapphire
- Ruby
- Emery
By Application:
- Plasticizers
- Non-phthalate
- Phthalate
- 2-EH nitrate
- 2-EH acrylate
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
More Insights into the 2-EH Market
The Asia Pacific region is expected to dominate the global 2-EH market due to the growth of the 2-ethyl hexanol market wherein China is poised to remain the leading country by accounting for nearly half the revenue share of the 2-EH market in the Asia Pacific.
China is anticipated to emerge as the top market for 2-EH since several governing bodies in the country are working on boosting the infrastructures across various sectors. In addition to that, China is also expected to lead automotive production, opening new growth opportunities for the manufacturers.
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North America is the second largest market contributing around 13.7% to the overall revenue share of 2-EH. North America is expected to have a massive expansion due to the immigration growth driving up demand for homes, residences, and vehicles.
Europe is expected to showcase lucrative growth opportunities in the projection period, as European coating firms have been motivated to create multifunctional and sustainable solutions while also providing value-added services to their clients by the regulatory environment and end-user desires. Across the forecast duration, this trend is expected to accelerate in the favor of the 2-EH market.
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