Isooctyl Alcohol Market Segmentation:
Application Segment Analysis
The plasticizers segment in the isooctyl alcohol market is estimated to gain the largest revenue share of about ~35% in the year 2035. The segment growth can be attributed to the rising use of plastic products globally. As isooctyl alcohol is used as a solvent and as a chemical intermediate in making plasticizers, which is used to convert PVC a rigid plastic into a soft flexible, and elastic material. For reference according to United Nations Environment Program (UNEP) around the world, 1 million plastic bottles are purchased every minute, while up to 5 trillion plastic bags are used worldwide every year. Furthermore, the wide use of PVC products in various industries like construction, automobile, and electronics is estimated to spur the segment growth.
End Users Segment Analysis
The automotive segment in the isooctyl alcohol market is estimated to gain a significant share of about ~33% in the year 2035. The increase, in this sector can be attributed to the growth of the automobile industry. Isooctyl alcohol possesses properties that make it a suitable ingredient for plasticized PVC, which is utilized in automotive components like seat upholstery, coatings, body sealants, filters, and dashboards. This leads to an increase in the demand for isooctyl alcohol in the projected timeframe. According to research, in 2022 revealed that 58 million units of passenger cars were sold worldwide with expectations of growth in the future. Additionally, stringent emissions regulations are anticipated to propel isooctyl alcohol market expansion as isooctyl alcohol has emerged as a component, in fuels and lubricants aimed at reducing CO2 emissions.
Our in-depth analysis of the isooctyl alcohol market includes the following segments:
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