Linear alpha olefins market size, share, trends, 2024, Key players are INEOS Oligomers, Royal Dutch Shell, Sasol, Chevron, SABIC
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Linear alpha olefins market share is poised to gain major traction on account of its rising demand from prime HDPE applications. There has been a growing demand for HDPE in injection and film molding as it exhibits high tensile strength as well as excellent puncture & impact resistance. The HDPE application will stimulate the demand for linear alpha olefins, accounting for more than USD 2.4 billion in value by 2024.
The linear alpha olefins market, having registered a valuation of USD 12.5 billion in 2015, is projected to depict a market size of USD 19 billion, by the year 2024, with an anticipated CAGR of 5.4%. Added by Global Market Insights, Inc., the document consists of substantial information on the market scenario, industry strategies, evolving technologies, market competitors, growth opportunities, and market segmentation.
Global linear alpha olefins market size has been estimated to exceed USD 19 billion by 2024. Major industry players like Shell, Sasol, Jam Petrochemical, Evonik Industries, INEOS, Chevron and Idemitsu lay emphasis on the expansion of their product portfolio, regional footprint as well as technology with the help of mergers, acquisitions, and partnerships.
Firms have been aiming at developing bio-based products in order to lower the dependency on fossil fuel raw materials. They have also been involved in spending research and development activities to be able to reduce the environmental impact and formulate renewable products. A rising number of investments for improving the manufacturing process technology to be able to make high-quality products has contributed to global linear alpha olefins market growth.
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