India Oxo Alcohols Market Outlook (2018 to 2032)
Synopsis
The above chart is India Oxo Alcohols Market Outlook (2018 to 2032)
Market Dynamics
india’s oxo alcohols market has been witnessing considerable growth and substantial investments due to its wide range of applications and availability of raw materials. oxo alcohols are also known as batch-made alcohols since they are synthesised from raw materials obtained from petrochemical intermediates like ethylene, propylene, and butene.
oxo alcohols find applications in industries like agrochemicals, pharmaceuticals, dyes, plastics, ecochemicals, surfactants etc. growing demand for industrial and consumer products is driving the growth in india's oxo alcohols market.
the key drivers of the indian oxo alcohols market are changing regulations, technological advancement, improved production processes, increasing government investment in research, and developing financial resources. these developments have made oxo alcohols more cost effective and widely available.
in india, oxo alcohols are primarily used as ingredients in crop protection products. it has been observed that due to pesticide regulation in india, the demand for bio-based products is increasing. this is encouraging the manufacturers in india to opt for natural products which require little or no additional cleaning and have a low environmental impact.
the drug industry is another major user of india’s oxo alcohols market. the ever-increasing demand for medications, particularly within the generic drugs sector, has resulted in an increased demand for chemical components. this, in turn, has attributed to the growth of the oxo alcohols market in india.
apart from demand from drug industry, oxo alcohols are also used in the manufacture of detergents, surfactants, and solvents. as such, the growing demand for consumer and industrial products in india is also driving the growth of india’s oxo alcohols market.
considering the various factors that are driving the growth of india’s oxo alcohols market, it is expected that the market will continue to grow in the next decade, from 2018 to 2032.
