image

Octyl Alcohol Market Report Scope & Overview:

The Octyl Alcohol Market size was valued at USD 6.60 billion in 2023. It is expected to grow to USD 8.17 billion by 2031 and grow at a CAGR of 2.80% over the forecast period of 2024-2031.

The octyl alcohol market has experienced steady growth due to its versatile applications across multiple industries. It finds extensive use in the production of plasticizers, Industrial lubricants, flavors & fragrances, and pharmaceuticals. The increasing demand for these products, coupled with the expanding chemical industry, has propelled the growth of the octyl alcohol market.

Octyl Alcohol Market Revenue Analysis

Get E-PDF Sample Report on Octyl Alcohol Market - Request Sample Report

One of the major trends in the octyl alcohol market is the increasing demand for bio-based octyl alcohol. With growing environmental concerns and the need for sustainable solutions, the market is witnessing a shift towards bio-based alternatives. This trend is expected to drive the growth of the octyl alcohol market in the coming years. Another significant trend is the rising demand for octyl alcohol in the pharmaceutical industry. Octyl alcohol is widely used as an intermediate in the production of pharmaceuticals, including drugs, ointments, and creams. The expanding pharmaceutical sector, coupled with the increasing prevalence of chronic diseases, is expected to fuel the demand for octyl alcohol in the coming years.

The 2-Ethylhexanol segment dominated the octyl alcohol market with a revenue share of more than 90% in 2023. This growth is due to its extensive use in various industries. It serves as a crucial component in the production of plasticized PVC for automobiles, acts as a solvent for surface coatings and inks, acts as a precursor for manufacturing plasticizers like dioctyl phthalate (DOP), and serves as a raw material for producing acrylate esters, which are essential in the manufacturing of emulsion paints and surface coatings.

Within the 2-Ethylhexanol segment, plasticizers accounted for the largest sub-segment in terms of revenue, comprising approximately 56% of the market share. This surge in demand is attributed to the increasing need for flexible and durable plastics across a wide range of industries, including automotive, construction, and packaging. Plasticizers play a vital role in enhancing the flexibility, durability, and processability of polymers. Moreover, the rising concerns regarding health and the environment have led to a growing demand for bio-based and non-phthalate plasticizers, further fueling the demand for plasticizers.

Market Dynamics

Drivers

  • Growing demand for octyl alcohol from various end-use industries

  • Rising awareness among consumers regarding personal grooming and hygiene

The rise in consumer awareness regarding personal grooming and hygiene has led to a greater emphasis on using products that not only enhance one's appearance but also prioritize cleanliness. Individuals now seek out personal care items that not only provide aesthetic benefits but also contribute to their overall well-being. Octyl alcohol, with its multifunctional properties, has gained prominence in the market as a result. Furthermore, the COVID-19 pandemic has further amplified the importance of personal hygiene, prompting individuals to adopt more stringent cleanliness practices. As a result, the demand for personal care products containing octyl alcohol has experienced a notable upswing. Consumers are now actively seeking out products that offer effective germ protection while also catering to their grooming needs.

Restrain

  • Availability of substitutes such as decyl alcohol and cetyl alcohol

Octyl alcohol, a versatile chemical compound, finds extensive applications in various industries. However, the presence of substitutes like decyl alcohol and cetyl alcohol limits the growth potential of the octyl alcohol market. These alternative compounds possess similar properties and functionalities, making them viable options for many applications. The availability of substitutes creates a competitive environment within the market, as customers have more choices to meet their specific needs. This increased competition can lead to a decrease in demand for octyl alcohol, as customers may opt for readily available substitutes instead. Furthermore, the availability of substitutes can also impact the pricing dynamics of the octyl alcohol market. With multiple options to choose from, customers can negotiate better deals and potentially drive down the prices of octyl alcohol. This can further hinder the market's growth and profitability.

Opportunities

  • Rising demand for bio-based octyl alcohol

  • Expanding pharmaceutical industry in emerging economies

Challenges

  • Stringent regulations imposed by regulatory bodies regarding the use of octyl alcohol in various industries

  • Volatility in raw material prices and the fluctuating global economy

Impact of Russia-Ukraine War:

The conflict has disrupted the supply chain of octyl alcohol, leading to a decrease in production and availability. Both Russia and Ukraine have experienced difficulties in maintaining their production capacities due to the war's impact on infrastructure and transportation. This has resulted in a shortage of octyl alcohol in the market, leading to increased prices and limited availability for consumers. Furthermore, the political tensions between the two countries have also affected trade relations. Sanctions and trade restrictions imposed by both sides have hindered the export and import of octyl alcohol, further exacerbating the supply chain disruptions. This has created a challenging environment for businesses operating in the octyl alcohol market, as they struggle to navigate the complexities of the conflict.

Impact of Recession:

During a recession, consumer spending typically experiences a decline as individuals adopt a more cautious approach towards managing their finances. This decrease in demand can have a direct impact on the Octyl Alcohol market. Industries that heavily rely on Octyl Alcohol may experience a reduction in production, leading to a decrease in the overall demand for this compound. Furthermore, the Octyl Alcohol market may face challenges due to supply chain disruptions caused by the recession. As businesses struggle to maintain their operations, delays in the transportation and delivery of Octyl Alcohol may occur, affecting the availability of this crucial ingredient for various industries. The detailed analysis is included in the final report.

Market segmentation

By Application

  • 1-Octanol

    • Pharmaceutical

    • Flavors & Fragrances

    • Others

  • 2-Octanol

    • Agrochemicals

    • Flavors & Fragrances

    • Resins

    • Others

  • 2-Ethylhexanol

    • 2-EH Nitrate

    • 2-EH Acrylate

    • Plasticizers

    • Others

Regional Analysis

Asia Pacific dominated the Octyl Alcohol Market with the highest revenue share of about 47.5% in 2023. This remarkable growth is attributed to the rapid advancements witnessed in the cosmetics, cleaning chemicals, and pharmaceutical industries within the region. Notably, China's beauty and personal care industry experienced a significant surge in sales, reaching a staggering USD 70 billion in 2023. The remarkable progress of end-use industries in China, India, and Japan is expected to fuel the demand for octyl alcohol throughout the forecast period. India, in particular, has witnessed a surge in demand for cosmetics and personal care products, driven by increasing consumer awareness, urbanization, and evolving lifestyles. Meanwhile, Japan stands as a significant contributor to the market within the region, boasting a well-established cosmetics industry renowned for its innovation and high-quality offerings. The demand for octyl alcohol in Japan is primarily driven by the need for ingredients used in cosmetics and personal care products.

The rapid growth of these sectors in Asia Pacific has consequently driven the demand for octyl alcohol, leading to its market dominance. The rising disposable incomes and changing lifestyles of the region's population have resulted in an increased demand for personal care and cosmetic products. Octyl alcohol, with its properties as an emollient and solvent, is widely used in the formulation of skincare and haircare products. The growing consumer preference for such products has significantly contributed to the region's dominance in the octyl alcohol market.

North America is expected to grow with a significant CAGR of about 3.1% in the Octyl Alcohol Market during the forecast period of 2024-2031. The anticipated growth in the North American Octyl Alcohol Market is attributed to the region's robust industrial sector, coupled with the increasing demand for consumer goods, which is expected to drive the market's expansion. As industries continue to flourish, the need for octyl alcohol as a raw material or additive will rise correspondingly. Furthermore, the growing awareness among consumers regarding personal care and hygiene products is contributing to the surge in demand for octyl alcohol-based cosmetics and toiletries. Moreover, the pharmaceutical industry's continuous advancements and the development of innovative drug formulations are fueling the demand for octyl alcohol. Its applications in drug delivery systems, as well as its use as a solvent in pharmaceutical manufacturing processes, are driving its market growth.

Octyl-Alcohol-Market-By-Region

Get Customized Report as per your Business Requirement - Request For Customized Report

REGIONAL COVERAGE:

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America

Key Players

The major key players are SABIC, BASF, Sasol, The Andhra Petrochemicals Limited, Ecogreen Oleochemicals, KLK OLEO, Arkema, Axxence Aromatic GmbH, Liaoning Huaxing Group Chemical, BharatPetroleum, and other key players mentioned in the final report.

Sasol-Company Financial Analysis

Get Customized Report as Per Your Business Requirement - Request For Customized Report

Recent Development:

  • In Sept 2023, BASF made an exciting announcement regarding the expansion of its bio-based monomers portfolio. They introduced a proprietary process for producing 2-octyl Acrylate (2-OA), showcasing their unwavering dedication to innovation for a sustainable future. This new product boasts an impressive 73% 14C-traceable bio-based content, aligning with the standards set by ISO 16620.

  • In March 2023, companies like Andhra Petrochemicals Ltd and Bharat Petroleum Corporation Limited raised the prices of 2-ethylhexanol in India. This surge in prices can be attributed to the rising costs of raw materials, as well as the robust demand for the product in the market.

Octyl Alcohol Market Report Scope
Report Attributes Details
Market Size in 2023  US$ 6.60 Bn
Market Size by 2031  US$ 8.17 Bn
CAGR   CAGR of 2.80%  From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Application (1-Octanol, 2-Octanol, and 2-Ethylhexanol)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Company Profiles SABIC, BASF, Sasol, The Andhra Petrochemicals Limited, Ecogreen Oleochemicals, KLK OLEO, Arkema, Axxence Aromatic GmbH, Liaoning Huaxing Group Chemical, BharatPetroleum
Key Drivers • Growing demand for octyl alcohol from various end-use industries
• Rising awareness among consumers regarding personal grooming and hygiene
Market Restraints • Availability of substitutes such as decyl alcohol and cetyl alcohol

 

Frequently Asked Questions

Ans. The Compound Annual Growth rate for the Octyl Alcohol Market over the forecast period is 2.80%.

Ans. The projected market size for the Octyl Alcohol Market is USD 8.17 billion by 2031.

Ans: India will grow with the highest CAGR in the Asia Pacific region.

Ans: The Europe region is expected to grow with a 3.3% CAGR during the forecast period.

Ans: Yes, you can ask for the customization as per your business requirement.

TABLE OF CONTENT


1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions


2. Research Methodology


3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges


4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World


5. Value Chain Analysis


6. Porter’s 5 forces model


7. PEST Analysis


8. Octyl Alcohol Market Segmentation, By Application
8.1 1-Octanol
8.1.1 Pharmaceutical
8.1.2 Flavors & Fragrances
8.1.3 Others
8.2 2-Octanol
8.2.1 Agrochemicals
8.2.2 Flavors & Fragrances
8.2.3 Resins
8.2.4 Others
8.3 2-Ethylhexanol
8.3.1 2-EH Nitrate
8.3.2 2-EH Acrylate
8.3.3 Plasticizers
8.3.4 Others


9. Regional Analysis
9.1 Introduction
9.2 North America
9.2.1 North America Octyl Alcohol Market by Country
9.2.2 North America Octyl Alcohol Market by Application
9.2.3 USA
9.2.3.1 USA Octyl Alcohol Market by Application
9.2.4 Canada
9.2.4.1 Canada Octyl Alcohol Market by Application
9.2.5 Mexico
9.2.5.1 Mexico Octyl Alcohol Market by Application
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Eastern Europe Octyl Alcohol Market by Country
9.3.1.2 Eastern Europe Octyl Alcohol Market by Application
9.3.1.3 Poland
9.3.1.4.1 Poland Octyl Alcohol Market by Application
9.3.1.4 Romania
9.3.1.4.1 Romania Octyl Alcohol Market by Application
9.3.1.5 Hungary
9.3.1.5.1 Hungary Octyl Alcohol Market by Application
9.3.1.6 Turkey
9.3.1.6.1 Turkey Octyl Alcohol Market by Application
9.3.1.7 Rest of Eastern Europe
9.3.1.7.1 Rest of Eastern Europe Octyl Alcohol Market by Application
9.3.2 Western Europe
9.3.2.1 Western Europe Octyl Alcohol Market by Country
9.3.2.2 Western Europe Octyl Alcohol Market by Application
9.3.2.3 Germany
9.3.2.3.1 Germany Octyl Alcohol Market by Application
9.3.2.4 France
9.3.2.4.1 France Octyl Alcohol Market by Application
9.3.2.5 UK
9.3.2.5.1 UK Octyl Alcohol Market by Application
9.3.2.6 Italy
9.3.2.6.1 Italy Octyl Alcohol Market by Application
9.3.2.7 Spain
9.3.2.7.1 Spain Octyl Alcohol Market by Application
9.3.2.8 Netherlands
9.3.2.8.1 Netherlands Octyl Alcohol Market by Application
9.3.2.9 Switzerland
9.3.2.9.1 Switzerland Octyl Alcohol Market by Application
9.3.2.10 Austria
9.3.2.10.1 Austria Octyl Alcohol Market by Application
9.3.2.11 Rest of Western Europe
9.3.2.11.1 Rest of Western Europe Octyl Alcohol Market by Application
9.4 Asia-Pacific
9.4.1 Asia Pacific Octyl Alcohol Market by Country
9.4.2 Asia Pacific Octyl Alcohol Market by Application
9.4.3 China
9.4.3.1 China Octyl Alcohol Market by Application
9.4.4 India
9.4.4.1 India Octyl Alcohol Market by Application
9.4.5 Japan
9.4.5.1 Japan Octyl Alcohol Market by Application
9.4.6 South Korea
9.4.6.1 South Korea Octyl Alcohol Market by Application
9.4.7 Vietnam
9.4.7.1 Vietnam Octyl Alcohol Market by Application
9.4.8 Singapore
9.4.8.1 Singapore Octyl Alcohol Market by Application
9.4.9 Australia
9.4.9.1 Australia Octyl Alcohol Market by Application
9.4.10 Rest of Asia-Pacific
9.4.10.1 Rest of Asia-Pacific Octyl Alcohol Market by Application
9.5 Middle East & Africa
9.5.1 Middle East
9.5.1.1 Middle East Octyl Alcohol Market by Country
9.5.1.2 Middle East Octyl Alcohol Market by Application
9.5.1.3 UAE
9.5.1.3.1 UAE Octyl Alcohol Market by Application
9.5.1.4 Egypt
9.5.1.4.1 Egypt Octyl Alcohol Market by Application
9.5.1.5 Saudi Arabia
9.5.1.5.1 Saudi Arabia Octyl Alcohol Market by Application
9.5.1.6 Qatar
9.5.1.6.1 Qatar Octyl Alcohol Market by Application
9.5.1.7 Rest of Middle East
9.5.1.7.1 Rest of Middle East Octyl Alcohol Market by Application
9.5.2 Africa
9.5.2.1 Africa Octyl Alcohol Market by Country
9.5.2.2 Africa Octyl Alcohol Market by Application
9.5.2.3 Nigeria
9.5.2.3.1 Nigeria Octyl Alcohol Market by Application
9.5.2.4 South Africa
9.5.2.4.1 South Africa Octyl Alcohol Market by Application
9.5.2.5 Rest of Africa
9.5.2.5.1 Rest of Africa Octyl Alcohol Market by Application
9.6 Latin America
9.6.1 Latin America Octyl Alcohol Market by Country
9.6.2 Latin America Octyl Alcohol Market by Application
9.6.3 Brazil
9.6.3.1 Brazil Octyl Alcohol Market by Application
9.6.4 Argentina
9.6.4.1 Argentina Octyl Alcohol Market by Application
9.6.5 Colombia
9.6.5.1 Colombia Octyl Alcohol Market by Application
9.6.6 Rest of Latin America
9.6.6.1 Rest of Latin America Octyl Alcohol Market by Application


10 Company Profile
10.1 SABIC
10.1.1 Company Overview
10.1.2 Financials
10.1.3 Product/Services Offered
10.1.4 SWOT Analysis
10.1.5 The SNS View
10.2 BASF
10.2.1 Company Overview
10.2.2 Financials
10.2.3 Product/Services Offered
10.2.4 SWOT Analysis
10.2.5 The SNS View
10.3 Sasol
10.3.1 Company Overview
10.3.2 Financials
10.3.3 Product/Services Offered
10.3.4 SWOT Analysis
10.3.5 The SNS View
10.4 The Andhra Petrochemicals Limited
10.4.1 Company Overview
10.4.2 Financials
10.4.3 Product/Services Offered
10.4.4 SWOT Analysis
10.4.5 The SNS View
10.5 Ecogreen Oleochemicals
10.5.1 Company Overview
10.5.2 Financials
10.5.3 Product/Services Offered
10.5.4 SWOT Analysis
10.5.5 The SNS View
10.6 KLK OLEO
10.6.1 Company Overview
10.6.2 Financials
10.6.3 Product/Services Offered
10.6.4 SWOT Analysis
10.6.5 The SNS View
10.7 Arkema
10.7.1 Company Overview
10.7.2 Financials
10.7.3 Product/Services Offered
10.7.4 SWOT Analysis
10.7.5 The SNS View
10.8 Axxence Aromatic GmbH
10.8.1 Company Overview
10.8.2 Financials
10.8.3 Product/Services Offered
10.8.4 SWOT Analysis
10.8.5 The SNS View
10.9 Liaoning Huaxing Group Chemical
10.9.1 Company Overview
10.9.2 Financials
10.9.3 Product/Services Offered
10.9.4 SWOT Analysis
10.9.5 The SNS View
10.10 Bharat petroleum
10.10.1 Company Overview
10.10.2 Financials
10.10.3 Product/Services Offered
10.10.4 SWOT Analysis
10.10.5 The SNS View


11. Competitive Landscape
11.1 Competitive Benchmarking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.1 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions


12. USE Cases and Best Practices


13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone