The global 2-ethylhexanoic acid market wasvalued at US$ 850.38 Mn in 2017 and is anticipated to expand at a CAGR of 6.3%from 2018 to 2026, according to a new report titled ‘2-Ethylhexanoic AcidMarket: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,2018–2026,’ published by Transparency Market Research (TMR) . The global2-ethylhexanoic acid market is driven by rise in the demand for PVBplasticizers and PVC stabilizers. Asia Pacific accounts for a major share ofthe global 2-ethylhexanoic acid market.
Increase in demand for 2-ethylhexanoic acid for useas PVB plasticizers to fuel the 2-ethylhexanoic acid market
The plasticizers market in Asia Pacific is expanding, with severalregional and medium-sized companies being highly active in the region.Plasticizers with high polarity such as 2-ethylhexanoic acid are highlycompatible with PVB (polyvinylbutyral). Demand for 2-ethylhexanoic acid for usein the manufacture of PVB plasticizers is on the rise. PVB plasticizers are, inturn, used in the glass industry. Use of 2-ethylhexanoic acid as a PVBplasticizer imparts superior impact resistance and high tensile strength to theend-product. Rising use of PVB films and sheets in building & constructionand infrastructure industries is expected to augment the demand for2-ethylhexanoic acid during the forecast period.
Increase in demand for 2-ethylhexanoic acid for PVCstabilization applications to fuel the global 2-ethylhexanoic acid market
Rising demand for chemical stabilizers such as 2-ethylhexanoic acid isascribed to the ability of 2-ethylhexanoic acid to prevent the elimination ofhydrogen and chlorine molecules from the PVC. PVC stabilizers are employed invarious applications such as pipes and fittings, window profiles, rigid andsemi-rigid films, wires, cable coatings, and flooring. Currently, the demandfor PVC stabilizers such as 2-ethylhexanoic acid is driven by significantgrowth of the building & construction industry in Asia Pacific.2-Ethylhexanoic acid is suitable for use from environment, health, and safetyaspects. These factors are enhancing the demand for 2-ethylhexanoic acid foruse in PVC stabilizers.
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Use of 2-ethylhexanoic acid as a corrosioninhibitor presents a key growth opportunity for the 2-ethylhexanoic acidmarket
Automotive engine cooling systems contain a variety of metals such ascopper, brass, steel, cast iron, aluminum, magnesium, and their alloys. Chancesof a corrosive attack on such metals is high, due to presence of various ions,high temperatures and pressures, and high flow rates in a majority of coolingsystems. Use of 2-ethylhexanoic acid as a corrosion inhibitor prevents failureof engine components. This is anticipated to provide attractive growthopportunities to the 2-ethylhexanoic acid market during the forecast period.
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Chemical segment to dominate global 2-ethylhexanoicacid market
Chemical applications of 2-ethylhexanoic acid primarily includepolyvinylbutyral plasticizers and PVC stabilizers. When used as a plasticizer,2-ethylhexanoic acid improves the solubility of polyvinylbutyral. This, inturn, helps in the glass manufacturing process. 2-Ethylhexanoic acid has theability to prevent emission of hydrogen and chlorine. Thus, it is ideal for useas a PVC stabilizer. 2-Ethylhexanoic acid is used as a chemical intermediate inthe manufacture of synthetic lubricants.
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Emergence of water-based technology to restrain theglobal 2-ethylhexanoic acid market
In developed countries, regulations imposed on the emission of volatileorganic compounds necessitate the use of water-based coatings. Water-basedcoatings do not require any drying agent. Since drying agents are not requiredin water-based coatings, the demand for 2-ethylhexanoic acid for use in theseapplications is likely to reduce eventually. Thus, emergence of water-basedcoatings is likely to act as a restraining factor for the global 2-ethylhexanoicacid market during the forecast period.
Asia Pacific leads the global 2-ethylhexanoic acidmarket
In terms of consumption, Asia Pacific accounted for a major share of theglobal 2-ethylhexanoic acid market in 2017. Asia Pacific has emerged as a hubfor manufacture and exports of chemicals over the last few years. This hasprompted various world-leading companies to strengthen their position in themarket in the region. For example, BASF, along with PETRONAS, has started a newmanufacturing facility for 2-ethylhexanoic acid in Kuantan, Malaysia. Therapidly growing middle-class population is also considered a major factordriving end-user industries of 2-ethylhexanoic acid in Asia Pacific. Countriessuch as China, Japan, and India are spearheading the automotive production inAsia Pacific. These countries are considered leading consumers of2-ethylhexanoic acid that is used in paint dryers. Japan is considered a majorhub for production of 2-ethylhexanoic acid in Asia Pacific. Rise in themiddle-class population, especially in China and India, is likely to augmentthe demand for 2-ethylhexanoic acid in the region during the forecast period.
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High degree of competition among establishedplayers and rapid industrialization
Key players profiled in the report include The Perstorp Group, BASF SE,The Eastman Chemical Company, Elekeiroz, and OXEA Chemical Company.Manufacturers use the butyraldehyde method for production of 2-ethylhexanoicacid. Manufacturers’ strategy of expansion in developing economies is likely tostrengthen their business operations and position in the global 2-ethylhexanoicacid market in the next few years.
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