Press release
Alpha Olefins Market 2019: Leading Players Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, INEOS, Mitsubishi Chemical Corporation, Royal Dutch Shell, SABIC
Alpha Olefins Market
Global alpha olefins market is expected to rise to an estimated value of USD 12.01 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. The high growth of this market is growing demand for polyethylene.
Some of the major competitors currently working in the global alpha olefins market are Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, INEOS, Mitsubishi Chemical Corporation, Qatar Chemical Company Ltd, Sasol, Evonik Industries AG, Dow, Royal Dutch Shell, SABIC, Idemitsu Kosan Co.Ltd., Petro Rabigh, National Petrochemical Company, Jam Petrochemical Company, TPC Group among others.
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Market Definition:
Alpha olefins are the organic compounds which are produced by the oligomerization of ethylene. The oligomerization process consists of products with even-numbered carbon chains, usually ranging from C4 to C30+. The major applications of these compounds are comonomer for polyolefin production, synthetic lubricant production, as surfactant in detergent production and crude oil refining.
Market Drivers:
The demand of Pao-Based synthetic lubricants can drive the market growth in the forecast period
Growth of end-use Industries is another factor uplifting the market growth
Increasing demand for Pao-Based Synthetic Lubricants is also likely to boost the demand of antiscalants
Rising crude oil refining across the globe; this factor will also boost the market growth
Market Restraints:
Fluctuations in the prices of ethylene acts as restraint for the growth of this market
Stringent environmental regulations is another factor restricting this market growth
Presence of alternatives in the market including tungsten disulphide along with the advancement in the nanoparticle-based lubricants will also restrict the market growth
Segmentation: Global Alpha Olefins Market
By Product
1-Butene
1-Hexene
1-Octene
1-Decene
1-Dodecene
Others
By Application
Polyolefin Comonomers
Surfactants
Lubricant
Drilling Machinery Fuel
Others
By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
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Key Developments in the Market:
In June 2019, Shell announced the production of the fourth alpha olefins (AO) unit at its Geismar, Louisiana, USA chemical manufacturing site. The expansion will bring total AO production at Geismar to more than 1.3 million tonnes per annum. It will help the company to meet the increasing demand of alpha olefins in the market
In August 2019, ExxonMobil has planned to expand their Vistamaxx production in their Texas facility and will enter into the linear Alpha olefins market. This expansion will allow ExxonMobil to enter into the linear alpha olefins market which are used in the production of detergents and synthetic lubricants. With this expansion, the company will be able to meet the growing demand of customers across the globe
Competitive Analysis:
Global alpha olefins market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of alpha olefins market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
Objectives of the Report
The report firstly introduced the definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on.
The report analyzes the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc.
This report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate.
The Global Alpha Olefins Market report is inclusive of the growth rate that each region is projected to register over the estimated period.
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