The Global Oxo Oil Market was valued at USD 28.5 Billion in 2024 and is projected to reach USD 38.9 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period (2024–2030). This growth is primarily driven by increasing demand for plasticizers, solvents, and specialty chemicals across diverse industries such as construction, automotive, and consumer goods, alongside the accelerating adoption of bio-based and high-performance alternatives.

As the chemical industry pivots toward sustainability and enhanced material performance, the focus intensifies on the key producers who are driving innovation and supply chain efficiency. In this analysis, we profile the Top 10 Companies in the Oxo Oil Industry—a combination of chemical giants, specialized producers, and technology innovators shaping the future of oxo chemicals and their derivatives.

---

Download FREE Sample Report:
Oxo Oil Market – View in Detailed Research Report

---

🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Oxooil HS9, Oxooil LS13, Oxooil 9N, Specialty Plasticizers

BASF stands as a global leader in the oxo chemicals market, with a comprehensive portfolio of oxo alcohols and derivatives. Its production is integral to manufacturing plasticizers for PVC, solvents for coatings, and intermediates for lubricants and adhesives. The company’s extensive integrated production network ensures a reliable supply for global customers.

Innovation and Sustainability Initiatives:

• Development of phthalate-free and bio-based plasticizer alternatives

• Investment in carbon-efficient production processes (Verbund system)

• Committed to achieving net-zero CO2 emissions by 2050

---

9️⃣ 2. Evonik Industries AG

Headquarters: Essen, Germany
Key Offering: Oxooil 9N, DINP/DIDP plasticizers, Performance Intermediates

Evonik is a major specialty chemicals company with a strong position in high-value oxo derivatives. The company focuses on performance-oriented applications, particularly in creating sustainable plasticizer solutions for the construction and automotive sectors. Its technological expertise allows for customization to meet specific customer requirements.

Innovation and Sustainability Initiatives:

• Leading in non-phthalate plasticizer technologies

• Expansion of production capacities in Asia to serve growing markets

• Integration of circular economy principles into product life cycles

---

8️⃣ 3. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Oxo alcohols (2-EH, INA, NBA), Glycol Ethers, Acrylates

Dow is a cornerstone of the global oxo chemicals landscape, producing a wide array of oxo alcohols that serve as critical building blocks. These products are essential for Dow’s downstream businesses in coatings, infrastructure, and consumer care, leveraging its massive scale and operational excellence.

Innovation and Sustainability Initiatives:

• Advancements in lower-carbon production pathways

• Development of products supporting energy-efficient buildings and lightweight vehicles

---

7️⃣ 4. LG Chem

Headquarters: Seoul, South Korea
Key Offering: 2-Ethylhexanol (2-EH), n-Butanol, Plasticizers

LG Chem is a dominant force in the Asian oxo chemicals market, with significant production capacities for key oxo alcohols. The company’s vertical integration, from basic petrochemicals to high-performance materials, provides a competitive edge in supplying the electronics, automotive, and packaging industries.

Innovation and Sustainability Initiatives:

• Strategic focus on eco-friendly plasticizers for sensitive applications like food packaging

• Investment in R&D for bio-based chemical feedstocks

Download FREE Sample Report:
Oxo Oil Market – View in Detailed Research Report

---

6️⃣ 5. Eastman Chemical Company

Headquarters: Kingsport, Tennessee, USA
Key Offering: Oxo products for coatings, adhesives, and plasticizers

Eastman utilizes its oxo chemistry expertise to produce specialty chemicals that enhance product performance in various end-markets. The company is known for its innovation in developing sustainable alternatives, such as non-phthalate plasticizers and low-VOC solvents.

Innovation and Sustainability Initiatives:

• Pioneering molecular recycling technologies for plastic waste

• Portfolio transformation toward higher-margin, sustainable solutions

---

5️⃣ 6. INEOS Oxide

Headquarters: London, United Kingdom
Key Offering: Ethylene Oxide, Ethylene Glycols, Oxo alcohols derivatives

INEOS Oxide is one of the world’s largest merchant sellers of ethylene oxide and derivatives, which are key feedstocks for certain oxo chemical pathways. The company’s strong positions in Europe and the US make it a critical supplier to the glycol ethers and ethanolamines markets.

Innovation and Sustainability Initiatives:

• Focus on operational efficiency and process safety

• Exploring bio-attributed and circular feedstocks for oxide production

---

4️⃣ 7. Mitsubishi Chemical Corporation

Headquarters: Tokyo, Japan
Key Offering: Oxo chemicals, High-purity solvents, Functional polymers

Mitsubishi Chemical holds a significant share in the Asia-Pacific oxo chemicals market. The company’s strength lies in producing high-purity oxo products for demanding applications in the electronics and automotive sectors, supported by rigorous quality control and technical service.

Innovation and Sustainability Initiatives:

• Development of specialty monomers for advanced polymers

• Corporate vision focused on achieving a carbon-neutral society by 2050

---

3️⃣ 8. Arkema SA

Headquarters: Colombes, France
Key Offering: Oxooil-based specialties, Coating resins, High-performance polyamides

Arkema leverages oxo chemistry within its broader portfolio of advanced materials. The company focuses on creating differentiated products, such as specialized plasticizers for niche applications and intermediates for its thriving specialty polymers business, particularly in lightweight materials and sustainable coatings.

Innovation and Sustainability Initiatives:

• Strong commitment to bio-based and recycled materials

• R&D focused on products that reduce the environmental footprint of end-applications

---

2️⃣ 9. Formosa Plastics Corporation

Headquarters: Taipei, Taiwan
Key Offering: 2-Ethylhexanol, n-Butanol, Plasticizers (DOP, DINP)

Formosa Plastics is a key integrated petrochemical player with substantial oxo alcohol and plasticizer production capacity. Its strategic location in Asia and large-scale operations make it a major supplier to the region’s robust plastics and textiles industries.

Innovation and Sustainability Initiatives:

• Continuous capacity expansion to meet regional demand growth

• Investments in environmental protection and energy-saving technologies

---

1️⃣ 10. Perstorp Holding AB

Headquarters: Malmö, Sweden
Key Offering: Specialty oxo products, Polyols, Acid derivatives

Perstorp is a leading specialty chemicals company with a focused portfolio of oxo-based products. It excels in producing high-value, niche chemicals for applications in synthetic lubricants, paint driers, and composite materials, often catering to specific performance needs that commoditized producers cannot meet.

Innovation and Sustainability Initiatives:

• Leadership in Pro-Environment products, including bio-based and circular offerings

• Ambitious sustainability goals, including climate-neutral operations and products

Read Full Report:
Oxo Oil Market – View in Detailed Research Report

---

🌍 Outlook: The Future of Oxo Oil Is Sustainable and Specialized

The oxo oil market is undergoing a significant transformation, characterized by a dual focus on sustainability and performance specialization. While traditional applications like PVC plasticizers continue to drive volume, the industry is increasingly investing in developing environmentally friendly alternatives and high-value derivatives for advanced materials.

📈 Key Trends Shaping the Market:

• Accelerated shift towards non-phthalate and bio-based plasticizers driven by stringent regulations.

• Growing demand for high-purity oxo chemicals from the electronics and electric vehicle sectors.

• Integration of digitalization and advanced process controls for enhanced efficiency and reduced environmental impact.

• Strategic partnerships between chemical companies and brand owners to develop circular material solutions.

Read Full Report:
Oxo Oil Market – View in Detailed Research Report

The companies profiled above are not merely suppliers of essential chemicals; they are at the forefront of developing the sustainable and high-performance materials that will define the future of numerous global industries.