At 5.4% CAGR, Linear Alpha Olefins Market to reach $19 bn by 2024 | Top Key Players Qatar Chemical Company, Chevron Phillips Chemical Company, Idemitsu Kosan Co.,Ltd., Evonik, ExxonMobil, INEOS, Shell, Sasol, SABIC

Linear Alpha Olefins Market was over USD 12.5 billion in 2016 and consumption may exceed 7 million tons by 2024 and to surpass $19 bn by 2024. Focusing on the ever-increasing requirement of resins for several applications, linear alpha olefins market participants have been adopting the strategy of business expansion lately. For instance, in 2017, Royal Dutch Shell expanded its chemical business across the U.S., establishing a linear alpha olefins unit with a production capacity of 425,000 per annum. In addition, Shell is also looking forward to building a petrochemical complex in Pennsylvania, the commercial production of which will start early next decade.

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Numerous regulatory bodies and regional governments have been becoming more aware of the drilling fluids used by oil and gas extraction companies that are discharged to ocean, which has had a tremendous impact on the aquatic life and environmental aspects owing to toxicity. Traditionally, linear alpha olefins are derived from petroleum, but pertaining to the rising environmental concern related to application of drilling fluids, researchers are continuously involved in detecting alternative linear alpha olefins (LAOs) production methods. For instance, researchers from the UW–Madison have recently developed LAOs from biomass, the impact of which is certain to propel linear alpha olefins industry outlook.

Currently, most of the players in linear alpha olefins market use two major technologies for production, namely, the full-range and on-purpose. Although the full range process is widely used for producing different types of products, nowadays, the on-purpose production process is also gaining popularity, owing to the surging demand for low carbon components such as octane-1, hexane-1, and butene-1. As per statistics, linear alpha olefins market size from butene-1 is slated to grow at a CAGR of more than 4.5% over 2017-2024, owing to its escalating use for producing commodity polymers such as polypropylene and polyethylene.

Speaking of competitive market share, the linear alpha olefins market appears moderately fragmented and intensely competitive with some reputed industry players such as Chevron Phillips Chemical LLP, Shell, Exxon Mobil, Sasol, INEOS, SABIC, Evonik Industries and Jam Petrochemical making determined efforts to expand the existing manufacturing sites, construct new facilities, enhance the technological capabilities and collaborate to lower the production cost. All these factors are bound to propel the progression of linear alpha olefins market size in the upcoming years. Linear Alpha Olefins market size, according to the latest research report compiled by Global Market Insights Inc., might surpass $19 Billion by 2024.

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Speaking in the context of geographical trends, the European linear alpha olefin market, led by Germany, Italy, and France, would garner considerable benefits owing to the presence of leading automobile manufacturers in the continent and the strict emission control regulations prescribed by regulatory agencies. In addition, the increased production output of detergent alcohol in Germany shall further steer the regional demand for linear alpha olefins. Europe market size is forecasted to exceed the growth rate of 3.5% over the estimated time period.

Europe, led by Germany, France and Italy linear alpha olefins market size, is estimated to show steady growth rates and surpass 1.5 million tons by 2024. Increasing production and sales of automobiles coupled with presence of big automotive production companies should favor industry growth.

Global linear alpha olefins market share is fragmented with key industry participants including INEOS, Shell, Chevron, Sasol, Idemitsu, Jam Petrochemical and Evonik Industries. Participants focus on expanding their regional presence, product portfolio and technology through partnerships, mergers and acquisitions.

LAO Market, By Application
• LLDPE
• HDPE
• PAOs
• Detergent Alcohols
• Oil Field Chemicals
• Lubricants
• Plasticizers
• Others

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