DUBLIN, Aug. 2, 2023 /PRNewswire/ — The “2 – Ethyl Hexanoic Acid Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Application, By Region and Competition” report has been added to ResearchAndMarkets.com’s offering.
The Global 2-Ethyl Hexanoic Acid Market is experiencing remarkable growth and is poised to expand significantly through 2028, driven by increasing demand from the automotive and construction industries.
This versatile compound is gaining popularity in various sectors, particularly as synthetic lubricants and coatings, as well as in the production of coolants, windshields, and side glazing for aerospace and automobile applications. 2-Ethyl Hexanoic Acid, a light-yellow mono-carboxylic acid with a mild odor, plays a crucial role in producing metal derivatives that are soluble in nonpolar organic solvents.
Moreover, its use in cosmetics as emollients and skin conditioners further adds to its widespread application. The rising demand for polyvinyl chloride (PVC) stabilizers and Polyvinyl butyral (PVB) plasticizers in the form of metal salts is also contributing to the market’s growth.
As various industries, including adhesives, sealants, lubricants, corrosion inhibitors, construction, and automotive, continue to fuel the demand, the Global 2-Ethyl Hexanoic Acid Market is expected to witness significant expansion in the projected period.
Increasing demand from the automotive sector
2-Ethyl Hexanoic Acid is extensively employed for the production of corrosion inhibitors, windshields, coolants and side glazing for automotive industries.
The automotive industry is increasing rapidly with increasing developments, including new technologies, which are anticipated to drive the growth of Global 2-Ethyl Hexanoic Acid Market during the forecast period. The tremendous growth of the automotive industry in recent years can be largely attributed to the rising demand for personal vehicles and an expanding middle class with rising disposable incomes.
Additionally, the market is shifting toward electric and hybrid cars as a result of the government’s push for electric mobility and rising environmental awareness, which is therefore propelling the growth Global 2-Ethyl Hexanoic Acid Market.
For instance, for a period of five years, EV projects will receive a complete exemption from energy tax on the power they purchase from Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO) or produce and use from captive sources.
Increasing demand from the construction Sector
2-Ethyl Hexanoic Acid has a huge demand in the construction market. Polyvinyl butyral plasticizer, which is a major constituent for the production of safety glass and sheet material for construction purposes, is produced from 2-Ethyl Hexanoic Acid.
Apart from this, 2-Ethyl Hexanoic Acid is also employed for the production of alkyd resins, paint driers, and synthetic lubricants. With increasing government initiatives along with private spending in the construction sector, the Global 2-Ethyl Hexanoic Acid market is growing rapidly. Also, with the increasing population, the demand for the real estate development sector is increasing, therefore propelling the growth of Global 2-Ethyl Hexanoic Acid market. F
or instance, in India, the National Real Estate Development Council (NAREDCO) has enrolled more than 15,000 construction employees in the NIPUN project, which will certify more than 1.06 lakh people nationwide over the course of the year. Thus, increasing demand from the construction sector is likely to contribute to the growth of the market in the forecast period.
Recent Developments
- In February 2023, Macrotech Developers will deliver 11,000 flats in 2023 as compared to 7,000 flats in 2022.
- The Housing and Urban Affairs Ministry in India has been given USD317.04 million as part of the Union Budget 2022-23 allocation for the construction of non-residential office buildings for the Central Vista project, including the Parliament and Supreme Court.
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in Global 2-Ethyl Hexanoic Acid market.
- BASF SE
- Eastman Chemical Company
- The Dow Chemical Company
- Perstorp Holding AB
- Oxea Corporation
- Elekeiroz S.A.
- KH Neochem Americas, Inc.
Report Scope:
2-Ethyl Hexanoic Acid Market, By Application:
- PVB Plasticizer
- Synthetic Lubricants
- Paint Driers
- PVC Stabilizers
- Emollients
- Others
2-Ethyl Hexanoic Acid Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Spain
- Italy
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/o26wh9
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