2-Ethylhexanoic Acid Market: Introduction
Transparency Market Research delivers key insights on the global 2-ethylhexanoic acid market. In terms of revenue, the global 2-ethylhexanoic acid market is estimated to expand at a CAGR of 6.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global 2-ethylhexanoic acid market.
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The global 2-ethylhexanoic acid market is broadly affected by several factors, including usage of 2-ethylhexanoic acid in PVB plasticizer, synthetic lubricants, paint dryers, drugs, and emollients. The rising demand for 2-ethylhexanoic acid as PVB plasticizers and for PVC stabilization application is propelling the global 2-ethylhexanoic acid market. 2-ethylhexanoic acid has a wide range of use in multiple industries such as chemical, automotive, pharmaceutical, and cosmetic and paints & coatings as well. Chemical applications of 2-ethylhexanoic acid include polyvinylbutyral plasticizers, synthetic lubricants, and PVC stabilizers. As plasticizer, 2-ethylhexanoic acid improves the solubility of polyvinylbutyral, which, in turn, helps in the glass manufacturing processes.
2-ethylhexanoic acid is utilized as a paint dryer, owing to its compatibility with the oil or solvent medium. Metallic salts of 2-ethylhexanoic acid based on cobalt and manganese are the two commonly used paint dryers. It is also employed in various research and development activities across the globe for the manufacture of pharmaceutical formulations. It is utilized as processing aid or catalyst in the manufacture of drugs.
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2-Ethylhexanoic Acid Market: Dynamics
The rise in demand for PVB plasticizer, paint dryers, PVC stabilization, drugs, and emollients is expected to drive the 2-ethylhexanoic acid market in the near future. Plasticized polyvinyl butyral is widely employed as an interlayer or insert in laminated safety glass, which is extensively utilized in automobile and construction industries. Synthetic lubricants have good advantages over petroleum-based lubricants. Synthetic lubricants are widely used in engine oil, metal foaming oils, turbine oil, fire resistant hydraulic oil, brake fluid, etc. 2-ethylhexanoic acid is used in the manufacture of driers for paint, inks, varnishes, and enamels. Cobalt and manganese are widely used as driers.
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Stabilizers are a key ingredient for the formulation of PVC. They exhibit some key properties such as stable processing, light resistance, and thermal stability. They avoid degradation during extrusion and injection also protects from the discoloration and deformation. 2-ethylhexanoic acid is extensively employed as a processing aid in pharmaceuticals and chemical industries. 2-ethylhexanoic acid acts as a catalyst in the manufacture of drugs.
The demand for 2-ethylhexanoic acid in automotive coolants and wood preservatives has been rising across the globe. The sodium salt of 2-ethylhexanoic acid combined with other fungicides is used to protect the cut wood. Multiple applications and uses of 2-ethylhexnoic acid are driving the market globally.
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2-Ethylhexanoic Acid Market: Prominent Regions
Based on region, the global 2-ethylhexanoic acid market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global 2-ethylhexanoic acid market in 2020. The region is expected to maintain its dominance during the forecast period.
The dominance of Asia Pacific can be described to an increase in disposable income of consumers and advancements made in science and technology. In Asia Pacific, 2-ethylhexanoic acid witnesses high demand in industries such as personal care & cosmetic products and pharmaceutical, including China and India, in the region.
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2-Ethylhexanoic Acid Market: Key Players
The global 2-ethylhexanoic acid market is fragmented with the presence of a large number of players. Key players operating in the global 2-ethylhexanoic acid market are BASF SE, Dow Inc., Dow Inc., Perstorp Holding AB, Elekeiroz, The Eastman Chemical Company, OQ Chemicals Corporation, KH Neochem Co., Ltd, Jiangxi JYT Chemical Co., Ltd, Shenyang Zhang Ming Chemical Co.Ltd, TCI Chemical India pvt ltd., Santa Cruz Biotechnology, Inc., and SynZeal Research Pvt Ltd.
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