What's Driving The Internal Olefins Market Size? | Major Manufacturers - Sasol , Chevron Phillips Chemical Company, Shell, Schlumberger, Halliburton, INEOS , Elevance Renewable Sciences, Inc., Idemitsu Kosan Co., Ltd In HCMC, Shrieve Chemical Products, In

Internal olefins market from surfactants may exceed to 170 kilo tons by 2024. Strong application outlook in liquid soaps, dish washing liquids, detergent shampoos and hand wash owing to low toxicity is likely to have positive impact on industry growth. Growing demand for mild, skin irritants and sensitizers free detergents along with high cleaning capacity should fuel product demand.

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Increasing usage in pharmaceutical, oil drilling and surfactant industries along with growing environmental awareness should drive internal olefins market. Rapid urbanization supported by increasing economic standards has promoted use of high quality personal hygiene products which is likely to propel industry growth.

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

U.S. internal olefins market from oil drilling applications is poised to surpass USD 350 million in sales by 2024. Presence of various natural oil & gas reserves has led to growing drilling & exploration activities should favor regional industry growth. It is prominently used in extraction activities for effective oil recovery due to reduce drilling time, cost-effectiveness, high lubricity, thermal stability and well borne stability.

Global internal olefins market share is concentrated with some of the industry participants include Elevence, Sasol, INEOS Oiligomers and Shell. Strong R&D expenditure to develop internal olefins for extensive applications in pharmaceutical industry and ensure effective drug delivery may drive industry growth.

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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

The huge presence of oil & gas resources in North America have led to extensive drilling activities being carried out in the region. In 2016 alone, more than 18,000 oil & gas wells were drilled across the continent, which has led to environmentalists ganging up against the activity, claiming that it would cause considerable harm to the ecology. On these grounds, the demand for environmentally safe synthetic fluids has come to the fore, which would emerge as a major driving force for internal olefins market. As a part of go-green initiatives, O&G firms have been abundantly using eco-friendly synthetic fluids to not only improve the operational efficiency, but to reduce the GHG emissions as well, further expanding the scope of internal olefins industry.

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.

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.

Internal olefins industry has successfully established its footprints in myriad geographies across the globe. While Europe and North America continue to remain prime contenders for accumulating a major share of internal olefins industry, Latin America has also, in recent times, evolved as a rather lucrative growth ground. The presence of huge players across the automobile sector in the countries such as Germany, in conjunction with initiatives such as European climate initiative (EUKI) in cooperation with the EU for mitigating GHG effects are expected to create a profitable roadmap for internal olefins industry in Europe. As per estimates, Europe internal olefins market will record a CAGR of more than 3.5% over the next seven years.

Availability of substitutes including linear alpha olefin, poly alpha olefins may challenge industry growth. Ethylene and n- paraffin are the key raw materials used for commercial production. Fluctuating raw material prices may limit industry profitability which may impact internal olefins market price trend.

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

Considering the toxicity level, biodegradability, and human safety benefits offered by olefins, most of the personal care product manufacturers have also been giving preferences to these products. These olefins also have sufficient chemical stability and better water solubility properties, on account of which they are being used extensively across the U.S. personal care and household cleaning product industry. Even across emerging economies, these products find applications in the personal care domain, that would substantially impel internal olefins market share.

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.

The growing awareness among regional governments and regulatory bodies regarding the hazardous impact of chemical usage for household, personal care, and agricultural products is positively affecting internal olefins industry outlook. Most of the governmental bodies have framed specific norms to encourage chemical manufacturers for producing low toxic, environment-friendly, and biodegradable chemicals. Given the extent of preference for biodegradable and low toxic products, it goes without saying that internal olefins market share would traverse a profitable path in the years ahead. Global Market Insights, Inc., forecasts internal olefins industry size to cross a valuation of USD 2 billion by 2024.

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