2-Propylheptanol Market: Introduction
2-propylheptanol (2-PH) is a colorless, high boiling waxy or oily liquid with a mild odor. It is branched C10 fatty alcohol, with the chemical formula C10H22O. 2-propylheptanol is oxo-alcohol, generally produced by hydroformylation that is oxo-synthesis of C4 alkene followed by hydrogenation. There are three technological processes used by key players, which includes Davy Process Technology by Johnson Matthey and Dow Chemical, BASF produces 2-propylheptanol from butadiene since 2002 in Germany and U.S., and Evonik uses ligand Oxophos 64i process. 2-Propylheptanol, which is used in a wide range of applications including plasticizers, industrial detergents, solvents, surfactants, adhesives, and sealant, etc. The major consumption of 2-propylheptanol is in the production of ester, which is mainly used in the plasticizers. The global 2-propylheptanol market is estimated to have a healthy CAGR in the coming future due to its increasing use in the plasticizers industry.
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2-Propylheptanol Market: Market Dynamics
The key growth driving factor for the global 2-Propylheptanol market is its increased usage in the plasticizer industry. 2-propylheptanol is majorly used as a raw material for the production of ester, which is used in the production of plasticizers that transform hard polyvinyl chloride (PVC) into flexible material. The global plasticizer market is on the rise owing to rise in the consumption of flexible polyvinyl chloride, which accounts for around 80-90% of global plasticizer consumption, excellent low temperature & low volatility property and increasing per capita consumption. Further, adhesive & sealant and surfactants application contribute significantly to the growth of the global 2-propylheptanol market. The presence of potential substitutes and high manufacturing cost could affect the growth of the 2-propylheptanol market in the coming future. However, with the increasing focus of emerging economies such as China and India on increasing production capacity, the shift of global manufacturers towards low-cost manufacturing units and ever-growing demand for plasticizers will potentially support the growth of the global 2-propylheptanol market in the coming future.
2-Propylheptanol Market: Segmentation
The global 2-Propylheptanol market is segmented on the basis of end-use industry and region.
Based on the end-use application, the global 2-Propylheptanol market is segmented as:
- Synthetic lubricants
- Industrial Cleaner
- Adhesives & Sealants
Plasticizer end-use application in 2-Propylheptanol accounts for a share of around 30% – 35% in the global 2-Propylheptanol market. Synthetic lubricants’ end-use application will remain one of the emerging hotspots for 2-Propylheptanol in the long-term forecast.
Based on region, the global 2-Propylheptanol market is segmented as:
- North America
- Latin America
- East Asia
- South Asia
2-Propylheptanol Market: Regional Outlook
East Asia is estimated to account for the majority share of about 40% in the global 2-propylheptanol consumption with key producers shifting their manufacturing facilities to this region. For instance, in 2000, BASF with a joint venture with Sinopec has established BASF-YPC in Nanjing, China. Also, with the presence of emerging economies in the region, the growth of 2-propylheptanol will remain strong in the region. In South Asia, the 2-propylhepatanol market will witness a healthy CAGR in the forecast period due to growing economies, especially in India. Moreover, this region will remain a target region for manufacturers as the labor and production cost is low. In North America region, the 2-propylheptanol market will witness stagnant growth due to mature economies and huge penetration of 2-propylheptanol in the region. In the Europe region, the 2-propylheptanol market will witness steady growth in the forecast period; however, the demand and supply will remain in balance due to the presence of key producers in the region. In other regions, such as Middle East & Africa and Latin America, the demand for 2-propylheptanol market will witness a steep growth, as the manufacturers are shifting towards low-cost manufacturing regions and these regions will bring immense opportunities for the 2-propylheptanol manufactures to grow in the coming future.
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2-Propylheptanol Market: Prominent market stakeholders
Key market stakeholders in the global 2-Propylheptanol market are Perstorp, BASF SE, Evonik Industries, Yanchang Petroleum Yan’an Energy and Chemical Co. (Yan’an Energy), amongst others. The 2-Propylheptanol market is consolidated with the presence of a few global manufacturers. Evonik Industries has a production capacity of 60,000-kilo tons at its Marl Chemical Park in Germany and is one the largest producer of C9/C10 alcohols in Europe. BASF has three production units of 2-propylheptanol in Germany, Texas and China with a total production capacity of 300-kilo tons per annum. Shaanxi Yanchang Petroleum Yanan Energy and Chemical (Yanan, China) has a capacity of 80-kilo tons per annum in its LP Oxo Plant.
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