Alpha Olefins Market Growth Analysis by 2023 | Worldwide Competitors Analysis, Recent Trends, Opportunity, and Future Scope

Summary:

Alpha Olefins are mainly produced by the catalytic oligomerization of ethylene and fishcer-tropsch process to give a mixture of largely linear products of C4-C20+ even number chain length. Crude oil pricing is the major constraint for the production of alpha olefins. Alpha Olefins are majorly used in the production of polyolefin comonomer which is in turn used in the manufacture of HDPE and LLDPE pipes. These pipes have major applications in of huge government construction projects as well as residential pipe lining construction purposes which is increasing in the forecast period owing to rapid urbanization coupled with increasing disposable income in emerging economies is predicted to have a positive impact in the growth of the alpha olefins. Furthermore, alpha olefins are used in the production of surfactants which is an intermediate in the manufacture of soaps and detergents. Increasing population coupled with increasing demand for basic amenities such as soaps and detergents is anticipated to have a positive impact on the growth global alpha olefins market.

The major applications of these compounds are comonomer for polyolefin production, synthetic lubricant production, as surfactant in detergent production and crude oil refining, and also used as drilling machinery fuel in oil & gas exploration.

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Segmentation:

The Global Alpha Olefins Market is categorized on the basis of application, type, and region. By application, the alpha olefins market is categorized into polyolefin comonomer, plasticizer, lubricant, surfactant, drilling machinery fuel, and others. By type, the market is bifurcated into 1-butene, 1-hexene, 1-octene, 1-decene and others. On the basis of region, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Worldwide Competitors:

Some of the prominent players operating in the Global Alpha Olefins Market are, SABIC (Saudi Arabia), Sasol Ltd. (South Africa), The Dow Chemical Company (U.S.), Royal Dutch Shell plc (the Netherlands), Chevron Phillips Chemical Company LLC (U.S.), Ineos Group Ltd. (U.K), PJSC Nizhnekamskneftekhim (Russia), Qatar Chemical Company Ltd. (Qatar), Evonik Industries AG (Germany), and Idemitsu Kosan Co. Ltd. (Japan)

Regional Analysis:

The Global Alpha Olefins Market consists of five regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Among these, Asia Pacific has emerged as the leading market region for Alpha Olefins followed by North America and Europe. North American alpha olefins market is predicted to witness a tremendous growth on account of high Alpha Olefin consumption to produce synthetic lubricants, increasing production capacities, and rising economic growth rate.
In North American region, the U.S. is predicted to be a major contributor in the regional growth of alpha olefins market and is expected to see a significant demand for Alpha Olefins during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in production of crude oil.

In Europe, the demand for alpha olefins is predicted to grow in various countries such as Italy, Germany, Spain, U.K, France, and Russia on account of increasing expenditure in innovation and growing purchasing power of consumers. Moreover, presence of major automobile manufacturers specifically in Germany is expected to give a new impetus to the market growth.

Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in alpha olefins.

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