Light Olefins Market-Overview and scope, Market players, Market Research, Growth During to 2017- 2023
Light olefins are produced through the hydrocracking of hydrocarbons under high temperature. Various raw materials are required for their production include naphtha, ethane, propane, butane, and biomass.
The light olefins market across the globe is expected to reach USD 475.8 million at a CAGR of 5.85% by the end of 2027.
The growth of the global light olefins market is attributed to the shifting focus of consumers towards plastic goods from traditional goods such as concrete, metal, and wood. The reduction in energy cost and raw materials for producing light olefins is driving the market growth. The substitution of oil by shale gas, which is extracted from ethylene is expected to drive the market growth further over the assessment period. The trend of biofuel production from bio-ethylene using sugarcane and corn is likely to offer substantial opportunities for market growth during the forecast period. Additionally, the use of zeolites offers about 100% conversion of methanol into light olefins, which is an added advantage to the biofuel production. However, ethylene is highly toxic and is hazardous to human, wildlife, and environmental health, which may restrain the market growth during the forecast period.
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Geographically, the light olefins market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific was the dominating region in the light olefins market in 2016 and was primarily driven by the increasing demand for durable and efficient automotive. Asia Pacific region accounted for 58.40% share of the global market, in terms of value, in 2016 and is expected to grow at a healthy CAGR of 7.51% over the forecast period. The increasing production and sales of automotive and consumer goods in China, Japan, and India is the major driver of the regional market.
Europe is the second largest region and was valued at USD 1,006.6 million in 2016 and is projected to grow at a healthy CAGR of 5.39% during the review period.
Based on the type, the market is bifurcated ethylene and propylene. On the basis of the derivatives, the market is segmented into polypropylene, propylene oxide, acrylonitrile, cumene, acrylic acid, oxo alcohols, polyethylene, ethylene oxide/ glycol, EDC/ VCM/ PVC, styrene, alpha olefins, and vinyl acetate monomer. Based on the application, the market is divided into chemical commodities and refinery. Regionally, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Some of the key players operating in the global light olefins market are Saint Gobain (France), 3M (U.S.), Carborundum Universal Limited (France), Noritake (Japan), Meister Abrasives (U.S.), KREBA & RIEDEL (Germany), Tyrolit Schleifmittelwerke Swarovski K.G. (Austria), TOYODA VAN MOPPES LTD. (Tokyo), LIGHT OLEFINS (India), Zhengzhou Hongtuo Super Abrasive Products Co., Ltd (China), and VSM Abrasives Corporation (Germany)
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The geography covered in the report are:
• North America
Rest of Europe
Rest of Asia Pacific
• Latin America
Rest of Latin America
• Middle East & Africa
Rest of Middle East & Africa
The global light olefins market is projected to reach USD 475.8 million at a CAGR of 5.85% over the review period.
Vitrified diamond product type accounted for the major market share of 16.00% in 2016.
Among different application, cutting tools accounted for the largest market share of 15.90% in 2016 and is projected to grow at a CAGR of 6.97% during the forecast period.
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• Light Olefins manufacturers
• Light Olefins distributor
• Appliances Manufacturers
• Automotive Manufacturers
• Potential investors
• Light Olefins suppliers
• Nationalized laboratory
• steam cracking naphtha
• naphtha cracker
• uses of catalysts
• singapore cracker
• c4 recovery solutions
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