Opportunities Abound: Exploring the Global Oxo Alcohols Market

The oxo alcohols market was estimated at USD 20.12 billion in 2022 and is likely to grow at a CAGR of 5.04% during 2023-2028 to reach USD 27.18 billion in 2028.

Oxo alcohols are prepared by adding carbon monoxide and hydrogen to an olefin to obtain an aldehyde by using the hydroformylation reaction and after that, hydrogenating the aldehyde to obtain the alcohol which can be used in manufacturing a wide range of products including oil surface coatings, polymers, plasticizers, solvents, etc.