Industry News

Oxea Announces Plans to Construct Propanol Facility in Texas, United States

Oxea, a global manufacturer of oxo intermediates, plans to build second propanol producing facility at Bay City, Texas

United States: OXEA GmbH, a Germany based company, engaged in the production & distribution of a wide range of oxo intermediates and oxo derivatives for applications across various industries, has planned to construct a new propanol manufacturing facility at Bay City in Texas, United States. The second propanol production facility is expected to be commissioned by 2018. The company revealed that post-completion, the new facility would add capacity of 100,000 metric tons of propanol and 40,000 metric tons of propionaldehyde, annually. US based construction and engineering firm, Jacobs Engineering Group, Inc., has been awarded with the pre-construction planning & construction management contract for the new ‘Propanol 2’ project.

TechSci Research depicts that the plan to construct a new propanol manufacturing plant is a part of strategic expansion of Oxea. The new plant would strengthen the production as well as distribution network of the company across the globe. In particular, the facility would aid Oxea in catering the demand generated for propanol and propionaldehyde in printing inks, coatings, pharmaceuticals, food preservatives, rubber chemicals and plastic applications.

According to the recently published report by TechSci Research, Global Oxo Chemicals Market By End Use, By Region, Forecast & Opportunities, 2011-2025”, the global oxo chemicals market is forecast to surpass US$ 33.27 billion by 2025, on account of robust growth of construction and automotive segments backed by increasing population, urbanization, and rising government investments in the regions. The expanding commercialization and residential infrastructure has generated a large demand for plasticizers chemicals in production of building materials, which in turn raises the consumption of oxo chemicals as primary feedstock in end use industries. Additionally, growing awareness about the phthalate free plasticizers with improved degradability and no hazardous environmental effects, positively impact oxo chemicals market. Acrylates, glycol ether, solvents, resins, etc., are the other end use segments of oxo chemicals market. Growing application of oxo intermediates and derivatives in textile, pharma, electrical, paints and coatings industries is boosting the global oxo chemicals market.  Global oxo chemicals market is controlled by four major players namely: Oxea GmbH, BASF SE, Eastman Chemical Company, and Dow Chemical Company. Other major players in oxo chemicals market are Exxon Mobil Corporation, INEOS Group, Evonik Industries AG, Arkema Chemicals, LG Chem Ltd., and Andhra Petrochemicals Ltd.

Relevant News