Octyl Alcohol Market Size To Reach $8.07 Billion By 2030

Octyl Alcohol Market Growth & Trends        

The global octyl alcohol market size is expected to reach USD 8.07 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.9% from 2023 to 2030. The industry growth is majorly driven by the increasing demand from end use industries such as flavors and fragrances, pharmaceutical, plasticizers, and food and beverage industries.

Octyl alcohol, is a colorless and highly viscous liquid with a distinctive odor that is widely used in various industrial and consumer applications. It is a type of fatty alcohol, which is derived from natural fats and oils, and is also produced synthetically using ethylene as a raw material. It finds extensive use in the production of plasticizers, surfactants, and solvents for the synthesis of various chemicals. It is also used as a flavoring agent in the food and beverage industry and as a chemical intermediate in the synthesis of pharmaceuticals, fragrances, and lubricating oils.

One of the major applications of octyl alcohol is in the production of plasticizers, which are added to plastics to increase their flexibility and durability. It is used to produce dioctyl phthalate (DOP), a plasticizer that is commonly used in PVC production. The increasing demand for PVC in various end-use industries, such as construction, automotive, and packaging, has driven the product demand in recent years.

Another application of octanol is in the production of surfactants, which are used in a wide range of personal care and cleaning products, such as shampoos, soaps, and detergents. Octanol is used to produce sodium lauryl sulfate (SLS), a surfactant that is known for its excellent foaming and emulsifying properties. The use of SLS in personal care products such as toothpaste, shampoo, and face wash is expected to drive the demand for product in the coming years.

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Octyl Alcohol Market Report Highlights

• The global market is estimated to advance with a compounded annual growth rate (CAGR) of 2.9% from 2023 to 2030. This is attributed to the increasing demand from flavors and fragrances, and pharmaceutical industries across the globe

• 2-Ethylhexanol in the product by application segment dominated the market with a revenue share of over 94% in 2022. This growth is attributed to its increasing usage in plasticizers. 2-EH-based plasticizers, such as dioctyl phthalate (DOP), are extensively used in polyvinyl chloride (PVC) to increase its durability and flexibility.The growing use of PVC in various industrial applications has boosted the demand for 2-EH in recent years

• 1-octanol is another segment witnessing fastest growth over the forecast period. This is attributed to the increasing use in flavor and fragrance industry. 1-Octanol, is used as a source of raw materials to create a variety of different fragrances, flavors, and aromas. Furthermore, 1-octanol is used as a carrier oil for herbal fragrances due to its mild scent and non-toxic nature

• Asia Pacific region dominated the global market with a revenue share of over 46% in 2022. This growth is attributed to the growing end-use industries, including PVC, coatings and paints, and cosmetics and personal care coupled with consumer preference towards natural and organic products

Octyl Alcohol Market Segmentation

Grand View Research has segmented the global octyl alcohol market on the basis of product by application, and region:

Octyl Alcohol Product By Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• 1-Octanol

  • Flavors & Fragrances

  • Pharmaceutical

  • Others

• 2-Octanol

  • Flavors & Fragrances

  • Agrochemicals

  • Resins

  • Others

• 2-Ethylhexanol

  • Plasticizers

  • 2-EH Acrylate

  • 2-EH Nitrate

  • Others

Octyl Alcohol Regional Outlook(Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players of Octyl Alcohol Market

• Sasol

• BASF

• SABIC

• BharatPetroleum

• KLK OLEO

• The Andhra Petrochemicals Limited

• Ecogreen Oleochemicals

• Arkema

• Axxence Aromatic GmbH

• Liaoning Huaxing Group Chemical

• SRL