The major trend witnessed in the 2-ethylhexanoic acid market is the increasing capital investments to expand the production of the compound. Since the compound is used in a wide range of applications, companies engaged in its production are working toward strengthening their production capacity through facility expansion or establishment of new plants.
2-Ethylhexanoic acid is produced using butyraldehyde-based and octanol-based methods. During the forecast period, the market demand for acid produced using the butyraldehyde-based method is expected to grow at a faster pace, as a large number of manufacturers use this method owing to its cost-effectiveness.
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The major factor driving the growth of the 2-ethylhexanoic acid market is the increasing investments in the construction industry. Globally, huge investments are being made in construction projects, including those pertaining to airports, hotels, and large commercial complexes.
The major factor restraining the growth of the 2-ethylhexanoic acid market is the rising prices of the raw materials used in the production of the acid.
Moreover, the high capital cost for setting up the production facility and a large number of regulatory approvals required for product development are hindering the market growth to some extent.
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Some of the major players operating in the global 2-ethylhexanoic acid market are The Perstorp Group, BASF SE, The Eastman Chemical Company, Dow DuPont Inc., OXEA Chemicals, Elekeiroz, and KH Neochem Co. Ltd.
The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
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