Linear Alpha Olefins Market 2020-2024| INEOS Oligomers, Royal Dutch Shell plc, Sasol, Chevron Phillips Chemical Company, Idemitsu Kosan Co.Ltd, Nizhnekamskneftekhim, SABIC, Qatar Chemical Company Ltd, Jam Petrochemical Company, Evonik Industries AG, Exxon
Growing polyethylene demand in packaging and other polymer industries should drive linear alpha olefins market. LAO is extensively used as copolymer in manufacturing high density polyethylene (HDPE) and low-density polyethylene (LDPE) which finds wide application in flexible packaging, food packaging, shrink films, automotive, household products and agriculture.
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1. INEOS Oligomers
2. Royal Dutch Shell plc
4. Chevron Phillips Chemical Company
5. Idemitsu Kosan Co.Ltd
8. Qatar Chemical Company Ltd
9. Jam Petrochemical Company
10. Evonik Industries AG
11. Exxon Mobil Corporation
Linear alpha olefins market from lubricant application should witness gains at over 3% during forecast timeframe. Increasing demand for PAO derived from LAO to produce synthetic lubricants should propagate linear alpha olefins market. These lubricants offer excellent balance of viscosity, pour point and oxidative stability reducing wear & tear while enhancing performance. Growth in automotive demand and production owing to rise in disposable income should propel product demand.
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Speaking in the context of geographical trends, the European linear alpha olefin market, led by Germany, Italy, and France, would garner considerable benefits owing to the presence of leading automobile manufacturers in the continent and the strict emission control regulations prescribed by regulatory agencies. In addition, the increased production output of detergent alcohol in Germany shall further steer the regional demand for linear alpha olefins. Europe market size is forecasted to exceed the growth rate of 3.5% over the estimated time period.
The Asia Pacific region has increasingly been adopting synthetic lubricants in automobiles to boost fuel efficiency and decrease the environmental harm, thereby acting as a determining factor to stimulate the global linear alpha olefins market augmentation. Among the Asia Pacific region, China is estimated to register a revenue growth of over $1.5 Billion by 2024 owing to its humongous automobile industry and rising environmental concerns.
Europe linear alpha olefins market led by France, Italy and Germany should grow at over 3.5% during foreseeable timeframe. This growth can be attributed to widely prevalent automotive OEM industries along with strict environment protection laws for emission control in the region.
China linear alpha olefins market will surpass USD 1.5 billion by 2024 pertaining to growing demand for polymer and plastic based products in electronics, electrical and other end-use industry. Supportive government policies towards use and production of polyethylene based products should drive regional industry growth.
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Global linear alpha olefins market share is moderately fragmented with market participants including Shell, Sasol, Exxon Mobil, Chevron Phillips and INEOS. These players focus on strategic alliances, mergers and acquisitions to expand their production capacity along with regional presence.
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