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What's driving the Linear Alpha Olefins Market trends? |Growth Analysis to 2024, Key Players Qatar Chemical Company, SABIC, Chevron Phillips Chemical Company, INEOS, Shell, Sasol, Idemitsu Kosan Co.,Ltd., Evonik, ExxonMobil
Linear Alpha Olefins Market
Increasing environmental concern towards harmful automobile emissions supported by strict automobile emission control policies set by government should boost synthetic lubricants demand thereby driving market demand.
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Easy accessibility, consistent supply and low cost of key raw material, ethylene for production owing to shale gas exploration activities mainly in U.S. and Europe should stimulate linear alpha olefins market growth. Increasing petrochemicals demand along with development of enhance drilling techniques has led to rise in shale gas extraction thereby driving linear alpha olefins market growth.
Linear Alpha Olefins (LAO) Market size may surpass USD 19 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing PAOs demand in synthetic based lubricants manufacturing due to key properties including reduced wear & tear, low volatility, thermal stability, natural lubricity and chemical inertness should positively influence linear alpha olefins market size. PAO is widely used in production of engine oils and greases to balance cost with performance may fuel product demand.
U.S. linear alpha olefins demand market must surpass USD 6 billion during the forecast period due to its surge in ethylene production and shale oil boom in the region. Availability and constant supply of ethylene at low price has resulted in increasing production of LAO based products.
Linear alpha olefins market demand from HDPE application should grow steadily surpassing USD 2.4 billion by 2024. Growing HDPE demand in film and injection molding applications owing to its superior impact & puncture resistance and high tensile strength should boost product demand over the forecasted timeframe.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. INEOS
2. Shell
3. Sasol
4. Chevron Phillips Chemical Company
5. Idemitsu Kosan Co.,Ltd.
6. Nizhnekamskneftekhim
7. SABIC
8. Jam Petrochemical Company
9. Qatar Chemical Company
10. Evonik
11. ExxonMobil
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Companies focusing on development of bio based products to reduce dependency on fossil based raw materials should have positive impact on market growth. Growing R&D expenditures to formulate renewable products and reduce environmental impact should favor industry growth. Increasing investments on to enhance manufacturing process technology for high quality products should surge linear alpha olefins demand.
Key feedstock required for commercial LAO production include ethylene, syn-gas and C4 steam. Fluctuating crude oil index coupled with procurement risk associated with transportation & handling of raw material may challenge industry profitability and impact linear alpha olefins market price trends. However, technological innovations in production process to produce sustainable products should propel industry growth.
1-Octene based linear alpha olefins market size must witness growth at over 3.5% by 2024 owing to strong application outlook in polyolefin elastomers production. These elastomers are used for components of automotive interiors and flexible packaging. These materials replace EPDM and EVA on accounts of low production cost and availability.
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
Browse Full Report @ https://www.gminsights.com/industry-analysis/linear-alpha-olefins-market
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.
Contact Us:
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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