Press release
Worldwide Linear Alpha-Olefins Market to Witness an Outstanding Growth by 2027
Linear Alpha olefins are extremely versatile and have applications in the manufacturing of a number of important chemical products such as alkenyl succinic anhydrides, drag reducing agents, Poly Alpha Olefins, lubricants, oilfield chemicals, Alkylbenzenes, fuel additives, plasticizers, detergent alcohols, low density polyethylene (LDPE)and High density polyethylene (HDPE). Linear Alpha Olefins are used as co-monomers in the production of plastics such as polyethylene and polypropylene. Among Linear Alpha-Olefins,1-Hexene has unique properties and is used in various applications. For example, it is used as a co-monomer during the manufacturing of polyethylene, production of aldehydes and fatty acids for plasticizers.
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Linear Alpha-Olefins Market:Market Dynamics
On the basis of value and volume, 1-Hexene holds a major market share of the overall Linear alpha olefins market. Growing demand for Poly-Alpha-Olefins which is used in synthetic lubricants used in automobile engines and increased demand for polyethylene which is used in the packaging industry will continue to drive the linear alpha-olefins market during the forecast period. Increasing demand from various industries for LLDPE, which is used as packaging material, is also contributing towards the growth of the Linear-Alpha Olefins market. Easy availability of raw materials for alpha olefin production is also projected to increase the market growth of Linear Alpha-Olefins. The growth of automotive and consumer goods industry and positive outlook on oilfield drilling activities is expected to affect the Linear-Alpha Olefins demand positively.
Volatility in the prices of raw materials coupled with stringent environmental regulations is expected to remain a key challenge for market players. Other than this, relatively high initial investments may also affect the market negatively. The presence of alternatives such astungsten disulphide and advancement in nanoparticle-based lubricants are the key restraints for the market growth of Linear Alpha-Olefins.
Though bio-based Linear Alpha-Olefins are in research and development phase, they are likely to gain momentum in near future, which can be an upcoming opportunity for the manufacturers.
Linear Alpha-Olefins Market:Market Segmentation
The global alpha-olefins market is segmented on the basis of:
Segmentation of Linear Alpha-Olefinsmarket on the basis of product/submarkets
1-Butene
1-Hexene
1-Octene
1-decene
1-dodecene
1-tetradecene
1-hexadecene
Higher Olefins
Segmentation of Linear Alpha-Olefinsmarket on the basisof its application
Detergent Alcohol
Synthetic Lubricant
Low-density polyethylene (LDPE)
High-density polyethylene (HDPE)
LLDPE( Linear low-density polyethylene)
Segmentation of Linear Alpha-Olefinsmarket on the basis of end-use industry
Automotive industry
Paper industry
Cosmetics & Pharmaceuticals industry
Chemical industry
Consumer goods
Packaging industry
Linear Alpha-Olefins Market: Regional Outlook
North America is considered to be a major consumer of Linear Alpha-Olefins market. Europe also accounts for a significant proportion of Linear Alpha-Olefinsglobal consumption. Moreover, high demand from end-use industries such as packaging, automotive, pharmaceuticals and chemical industries is likely to fuel the Linear Alpha-Olefinsmarket growth in Asia Pacific. The growth of automotive and consumer goods industries in Asia Pacific and Latin America is expected to affect market growth in positive way. Linear Alpha-Olefins market during the forecast period.
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Linear Alpha-Olefins Market: Market Participants
Some of the examples of the market participants in the Linear Alpha-Olefinsglobal market identified across the value chain are
Royal Dutch Shell plc
Sasol
Qatar Chemical Company Ltd (Q-Chem)
Chevron Phillips Chemical Company
The Dow Chemical Company
Idemitsu Kosan Co.Ltd
The Linde Group
INEOS
Nizhnekamskneftekhim
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