Guerbet alcohol, also known as 2-propyl alcohol is commonly used as a solvent and chemical intermediate in coatings, personal care and pharmaceutical industries. Guerbet Alcohol Market are characterized by having longer, more branched and saturated hydrocarbon chains compared to normal alcohols. They provide better solubility, film forming ability and hardening properties to various formulations. The increasing demand for Guerbet Alcohol Market in paints & coatings is a key factor driving the market growth.
Guerbet Alcohol Market Is Expected To Reach US$ 2.19 Bn By 2031, From US$ 1.52 Bn In 2023, Exhibiting A Compound Annual Growth Rate (CAGR) Of 4.7% During The Forecast Period.
Guerbet Alcohol Market Growth find wide ranging applications in coatings, personal care products, industrial & domestic cleaners and pharmaceuticals owing to their favorable physio-chemical properties. In coatings industry, the rising consumption of high performance alkyd resins made from Guerbet Alcohol Market is propelling the market growth. They help in enhancing properties like gloss, flexibility and chemical resistance of various coating systems.
Key Takeaways
Key players operating in the Guerbet Alcohol Market market are Sasol, BASF, Jarchem Industries, New Japan Chemical, Kokyu Alcohol Kogyo and Kisco.
Key opportunities in the market include growing demand for bio-based and sustainable Guerbet Alcohol Market . Manufacturers are investing in developing green chemical routes for commercial production of these specialty alcohols from renewable resources.
The market is witnessing significant expansion in Asia Pacific and Latin America driven by increasing paints & coatings consumption in construction and automotive industries. Several global players are setting up manufacturing facilities in China, India and Brazil to leverage low-cost advantages and cater to the rising local demand.
Market Drivers
Rising demand from coatings industry: Growing construction activities along with recovery of automotive production post pandemic is augmenting the consumption of various coating formulations employing Guerbet Alcohol Market as key ingredients. This remains a major market growth driver.
Market Restrain
Volatility in raw material prices: Fluctuations in prices of petrochemical derived feedstocks like olefins directly impacts the production cost of Guerbet Alcohol Market . Uncertainty over raw material supply and prices poses challenge to market players.
Segment Analysis
The Guerbet Alcohol Market market is segmented on the basis of application, end use, and region. By application, the market is divided into alkyd resins, chemical intermediate, solvents, plasticizer, and others. Among these, the alkyd resins application segment dominates the market owing to increasing use of alkyd resins in Industries like paints & coatings, adhesives & sealants, and printing inks. By end use, the market is categorized into oilfield chemicals, paints & coatings, adhesives & sealants, cosmetics, and others. Currently, paints & coatings emerges as the fastest growing end use segment on account of growing construction industry globally.
Global Analysis
Geographically, Asia Pacific dominates the global Guerbet Alcohol Market market and is expected to witness the fastest growth over the forecast period. Growth in this region can be attributed to the high economic development and rapid urbanization, coupled with a surge in infrastructure development and increasing per capita income in the countries like China and India. Meanwhile, Europe follows Asia Pacific in terms of demand for Guerbet Alcohol Market due to growing penetration of bio-based lubricants and automotive sector in Western Europe countries such as Germany and France. North America also represents noteworthy potential with developed end use industries in the U.S. and Canada. Moreover, rising infrastructure spending in Latin America and Middle East & Africa will positively influence the regional market dynamics in the near future.
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