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Alpha Olefins Market By Product (1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecene), By Application (Polyethylene, Detergent Alcohol, Synthetic Lubricant) - Growth, Future Prospects And Competitive Analysis, 2016 - 2024

Alpha-olefins are a family of organic compounds that are alkenes with the chemical formula CxH2x. Alpha olefins are used in an extensive range of chemical applications, such as polyethylene, detergent alcohols, and synthetic lubricants. Growing demand for polyethylene from the packaging sector is anticipated to remain the main aspect of the global alpha olefins market. In addition, the rising demand for polyalphaolefin in synthetic lubricants owing to reduced wear and tear of the engine is predicted to enhance the demand for alpha olefins in the future. Furthermore, growing concerns about the environment regarding automobile pollution have propelled the demand for polyalphaolefin-dependent synthetic lubricants in the past. Furthermore, an optimistic overview of oilfield drilling events is further foreseen to enhance the demand for alpha olefins in the future.

The global alpha olefins market in terms of product type is divided into 1-Hexene, 1- Decene, 1-Butene, 1-Octene, 1-Dodecene, C10, and other higher olefins. 1-Hexene led the worldwide alpha olefins market based on market size and revenue during 2015. It is predicted to retain its industry share during the estimated period. The growing demand for 1-Hexene due to its use in the manufacture of linear low-density polyethylene is also predicted to drive the industry growth. The demand for polyalphaolefin in the manufacture of synthetic lubricants is also projected to stimulate the demand for 1-Decene in the coming years.

The global alpha olefins market is studied for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa regions. In 2015, North America was the largest and fastest-growing market for Alpha Olefins. It contributed over 40% to the total global demand for alpha olefins during 2015. On the other hand, the alpha olefins market of the Asia Pacific zone is predicted to register the highest rate of growth during the projected period. The reason for this is the growing demand from synthetic lubricant sectors and polyethylene industries, particularly from growing economies like Japan, China, and India.

Shell Chemicals Limited, INEOS Oligomers, Sinopec Beijing Yanhua, Idemitsu Petrochemical Company Limited, Nizhnekamskneftekhim, Chevron Phillips Chemical Company LLC, Sasol Limited, ExxonMobil Corporation, ONGC, Qatar Chemical Company II Limited, The Dow Chemical Company, Royal Dutch Shell Plc., Mitsubishi Chemical Corporation, Qatar Chemical Company Limited, Saudi Arabia Basic Industries Corporation, Evonik Industries AG, TPC Group and Ineos Group Limited are few key manufacturers in alpha olefins market.

Purpose of the Report

The purpose of this strategic research study titled “Alpha Olefins Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024” is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global alpha olefins market.

Target Audience

  • Industry Investors
  • Procurement Managers from End-user Companies
  • Alpha Olefins Manufacturers
  • Distributors

Overall, the research study provides a holistic view of the global alpha olefins market, offering market size and estimates for the period from 2016 to 2024, keeping in mind the above-mentioned factors.

Based on applications, the alpha olefins market is categorized into the following segments:

  • Polyethylene
  • Detergent Alcohol
  • Synthetic Lubricant
  • Others (waxes, oilfield chemicals, plasticizers intermediates, specialty polymers, etc.)

The global alpha olefins market revenue is expected to grow at a significant rate of 6% over 2016-2024. Among the considered applications, polyethylene dominates overall demand and offers strong growth potential in upcoming years. Specialty polymers are finding huge growth potential due to their widespread use in flexible packaging. Synthetic lubricants are used mainly in mass transit applications for light vehicle crack-case lubricants, automatic gearbox transmission fluids, etc. Industrial applications include gear oils for wind turbines, machinery, etc. Synthetic lubricants have an excellent balance of properties concerning viscosity, pour point, oxidative stability, etc., making them an ideal choice for many applications, but they are relatively expensive. Today, however, more aggressive legislation is driving emissions reduction in the automotive industry resulting in new demand for synthetic lubricants. Increasing demand for alpha olefins, especially in the Asia Pacific, due to rapid growth of population and industrialization in emerging economies such as India and China, is anticipated to fuel the demand for the global alpha olefins market over the forecast period 2016-2024. Other factors, such as the growing demand for oilfield chemicals, waxes, plasticizers intermediates, specialty chemicals, etc., are expected to drive the growth of alpha olefins during the forecast period.

Based on geographical distribution, the global alpha olefins market is segmented into the following regional markets

  • North America
  • The U.S.
  • Canada
  • Europe
  • Germany
  • The U.K.
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Rest of Latin America
  • Middle East & Africa

Based on geographical distribution, North America was the biggest manufacturing region of alpha-olefins and the largest consumer. It contributed over 40% of the global demand during 2015. However, the alpha olefins market in North America is projected to record sluggish growth during the estimated period. The alpha olefins market in Europe is also anticipated to experience a slow growth rate owing to stagnated polyethylene industry in the region and on account of strict implementation of the rules concerning & related ecological issues. On the other hand, the alpha olefins market of the Asia Pacific zone is predicted to register the highest growth rate during the projected period, majorly attributed to growing demand from the synthetic lubricants sector and polyethylene industries, particularly from economies like Japan, China, and India. Growing production of synthetic lubricants, polyethylene, and detergent alcohol in Asia is predicted to boost the demand for alpha olefins in the zone during the estimated period.

Frequently Asked Questions

The market for Alpha Olefins is expected to reach XX Bn in 2024.

The Alpha Olefins market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2016-2024.

The base year of this report is 2021.

Competitive Dashboard, Key Alpha Olefins Manufacturers, Chevron Phillips Chemical Company LLC., Business Description, Financial Performance, Product Portfolio, Key Developments, Dow Chemical Co. are some of the major players in the global market.

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Published Date:  Apr 2017
Category:  Chemicals
Report ID:   57767
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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