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Global Internal Olefins Market Sales, Price, Revenue, Gross Margin and Region Analysis 2019-2025 Global Key Vendors - Schlumberger, INEOS, Sasol, Halliburton, SABIC, Shell, Chevron Phillips Chemical Company
Internal Olefins Market
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Germany internal olefins market should surpass USD 90 million by 2024. It is widely used in lubricants, facilitating low emission and is considered as environment friendly, thereby enhancing product demand. Automotive manufacturers are investing in R&D activities, in order to produce ecofriendly products, thereby stimulating regional industry growth.
Russia internal olefins market size is likely to grow over 3.5% by the end of forecast period. Increasing awareness pertaining to advantages of synthetic lubricants over its counterparts for cost effectiveness and higher fuel efficiency should propel regional demand. Rapid development in automotive sector and increase in personal vehicle ownership should drive industry growth.
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The shifting inclination toward synthetic drilling fluids for drilling oil & gas wells is likely to considerably boost internal olefins market share. The usage of such fluids sufficiently enhances the drilling performance and provides several benefits with regards to human health and safety, thereby augmenting the product demand. Moreover, on account of the rise in environmental concerns with respect to the impact of fluids on aquaculture, petroleum operating companies are preferring different kinds of synthetic base fluids including internal olefins, esters, synthetic paraffins, and linear alpha olefins.
These fluids favor excellent well-bore stability, lubricity, and solidity at high temperature. In addition, these fluids play an important role in sound proof drilling operations, which would majorly impact internal olefins industry share. Apart from drilling operations, internal olefins can also be used for pharmaceuticals, surfactants, and agrochemical applications, which would further influence internal olefins market size.
Internal Olefins Market share was above USD 1.5 billion in 2016 and industry expects consumption of over 850 kilo tons by 2024. According to a new research report by Global Market Insights, Inc. Internal Olefins Industry share is set to surpass USD 2 billion at the end of 2024.
Internal Olefins Market, By Application
• Oil Drilling
• Surfactants
• Lubricants
• Agrochemicals
• Pharmaceutical
Industry impact forces
Growth drivers
• Growing oil field drilling and exploring activities in North America
• Growing synthetic based lubricants demand in Asia Pacific
Industry pitfalls & challenges
• Availability of substitute
Internal olefins market demand from pharmaceutical applications may exceed USD 100 million by 2024. It is used as pharmaceutical intermediates, offering higher surface activity compared to other terminal olefins. Pharmaceutical intermediates are mixed with other chemicals to form various medicines used to fight diseases.
The rapid growth in automotive market has also impacted positively on internal olefins industry share.
Since there is a primary requirement of lubricants for enhancing the performance of mechanical linkages in automobiles, oil companies have been investing heavily in major regional automotive markets such as India and China. For instance, the renowned lubricant producing company, Gulf Oil Lubricants India Ltd has partnered with Force Motors, Fiat, and Bajaj Auto to capture a substantial percentage of the internal olefins industry share.
Gulf Oil, another renowned firm, has also collaborated with several original equipment manufacturers such as Ashok Leyland, Volvo Penta, Bharat Benz, L&T Komatsu, and Mahindra. Strategic JVs such as the aforementioned among oil companies and automotive giants have also encouraged other well-known players in internal olefins market including Sasol Ltd., INEOS Oligomers, Royal Dutch Shell, and Elevance, which would lucratively impact this business space.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Shell
2. INEOS
3. Elevance Renewable Sciences, Inc.
4. Sasol
5. Chevron Phillips Chemical Company
6. Schlumberger
7. Halliburton
8. Idemitsu Kosan Co., Ltd in HCMC
9. Shrieve Chemical Products, Inc.
10. SABIC
11. INFINEUM INTERNATIONAL LIMITED
Shell, Sasol, Elevance and INEOS Oligomers are the main industry players in the internal olefins market. Strong R&D spending by automotive and oil & gas manufacturers in order to comply with environmental norms may enhance product portfolio thereby driving industry growth.
Internal olefins demand from surfactants applications is likely to witness significant growth at over 4.5% by the end of projected period. These products when added to surfactants are highly compatible with hard water and possess good wetting and foaming characteristics. Surfactants include bubble baths, powder & liquid detergents, liquid hand soap and shampoos are free of skin irritants and sensitizers.
Browse key industry insights from the report, “Internal Olefins Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/internal-olefins-market
Strict regulations by REACH & EPA across oil drilling industries coupled with increasing automobile sales in India, China and Brazil will propel industry growth. Automotive manufacturers prefer to use synthetic lubricants over conventional owing to addition of internal olefins in it. They have properties like biodegradability, thermal stability and lubricity which help in preventing sludge formation in vehicle engines.
Lubricants application should surpass USD 350 million by 2024. Internal olefins used in lubricants enhances fuel efficiency, vehicle performance and equipment life. It is mainly used in industrial and automotive lubricants owing to mandatory compliance implemented by REACH and EPA and act as synthetic oil base stock, helping in maintaining performance and cost ratio of the manufacturers.
Internal olefins are dependent majorly on the raw materials including ethylene and n-paraffins. Ethylene oligomerization process are prominently used in the manufacturing of alpha olefins. Fluctuation in raw material prices may hinder internal olefins market price trend and affect industry profitability.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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