Isooctyl Alcohol Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is predicted to dominate majority revenue share of 37% by 2035. The market growth in the region is also expected on account of rising demand of plasticizer in emerging economies like India, China, Indonesia, and Vietnam of rising demand for plasticizers in emerging economies like India, China, Indonesia, and Vietnam. The increasing need for 2-Ethylhexyl acrylate, which is an ester of isooctyl alcohol used as raw material to make coatings, adhesives, construction material, and emulsions, with the addition of expanding automotive and construction sectors is fueling the isooctyl alcohol market in the Asia Pacific region. China and India stand out as a major player in the region hosting production facilities for nearly all major automotive companies. According to studies by the end of 2023 India alone produced around 26 million passenger vehicles, which was an increase from the year 2022 were approximately 6 million cars were produced. Furthermore, factors such as increasing disposable income and infrastructure development are securing the growth of the end-use sector which includes paints and coating, construction, and plastics escalating the market growth of isooctyl alcohol in the Asia Pacific region.
North American Market Insights
North America industry is predicted to grow at substantial CAGR till 2035. The market’s expansion can be attributed majorly to the rise in the vast automotive industry of the region. Isooctyl alcohol is used in making of various plastic components of automobiles such as coatings, seat leather, dashboards, and many more as a result the demand for isooctyl alcohol has risen in the region. The United States is a traditional powerhouse in the automotive sector and has some of the biggest car manufacturers in the world. The likes of General Motors, Ford, and Chrysler were all founded and headquartered there. According to studies in 2022 US automotive industry recorded sales for an estimated 14 million passenger vehicles and light truck vehicles in addition the automotive industry accounts for 3% of the US GDP. Furthermore, strict regulation regarding emissions has driven the isobutyl alcohol market in the region due to its versatility and eco-friendly characteristics, is emerging as a preferred choice among manufacturers, further propelling the isooctyl alcohol market growth in the North American region.
