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Why is Global Demand for Alpha Olefins Skyrocketing?
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Because of the above-mentioned characteristics of plastomers, they are heavily used in packaging applications and polymer modifications. In addition to this, these compounds have excellent compatibility with hard water and offer several low-cost benefits and good foaming in surfactant production. This is fueling the growing requirement for plastomers in surfactant production processes, which is, in turn, boosting the demand for alpha olefins across the world. Besides this, alpha olefins are also extensively used in lubricant production.
Chlorinated C20-C24 compounds can be heavily used along with various primary plasticizers for improving polyvinyl chloride’s (PVC’s) plasticity. The adoption of plasticizers made from alpha olefins improves the durability and flexibility of plastic materials. Flexible polyvinyl chloride has applications in several industries such as flow-control equipment, medical devices, automotive, and packaging. This is predicted to create growth opportunities for the companies producing alpha olefins across the world. Due to these reasons, the global alpha olefins market is recording huge growth.
Geographically, the alpha olefins market registered the highest growth in North America in the past years. This was because of the huge requirement for the compound in various industries such as automotive, plastics, and construction. Moreover, the region is the world’s biggest consumer and producer of the compound. The rising production capacity and the growing usage of plastic in the regional countries are propelling the demand for alpha olefins in the region.
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Hence, it is safe to say that the demand for alpha olefins will grow tremendously in the coming years, on account of the rising usage of the compound in plasticizer and specialty chemical production across the world.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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