Market Overview:
Alpha Olefins are feedstock for many industries. The major applications of these compounds are comonomer for polyolefin production, synthetic lubricant production, as surfactant in detergent production and crude oil refining, and also used as drilling machinery fuel in oil & gas exploration. Alpha Olefins are mainly produced by the catalytic oligomerization of ethylene and fishcer-tropsch process to give a mixture of largely linear products of C4-C20+ even number chain length. Crude oil pricing is the major constraint for the production of alpha olefins.
As per our Analysis, some of the prominent market factors and trends identified in the Global Alpha Olefins Market include rapid increase in oil & gas exploration and extraction activities propelling the Alpha Olefins use as drilling machinery fuel, rising demand for synthetic lubricants for vehicles, and increasing expenditure on research activities. Moreover, demand for Alpha Olefins is predicted to witness significant growth over the assessment period due to surging oil & gas industry. Rising crude oil refining across the globe is anticipated to be an important driver for Alpha Olefins Market during the review period. Increasing automobile production and sales along with rising consumption of lubricants is estimated to fuel the growth of the market.
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Top Global Competitors:
Some of the prominent players operating in the global alpha olefins market are Royal Dutch Shell plc (the Netherlands), Chevron Phillips Chemical Company LLC (U.S.), Ineos Group Limited (U.K), SABIC (Saudi Arabia), Sasol Limited (South Africa), The Dow Chemical Company (U.S.), PJSC Nizhnekamskneftekhim Inc. (Russia), Qatar Chemical Company Ltd. (Qatar), Evonik Industries AG (Germany), and Idemitsu Kosan Co.,Ltd. (Japan) among others.
Market Segmentation:
The Global Alpha Olefins Market is categorized on the basis of type, application, and region.
On the basis of type, the market is bifurcated into 1-butene, 1-hexene, 1-octene, 1-decene and others.
On the basis of application, the alpha olefins market is categorized into polyolefin comonomer, plasticizer, lubricant, surfactant, drilling machinery fuel, and others.
On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Regional Analysis:
Geographically, Alpha Olefins Market is segmented across Five Regions in the world namely:
• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.
Asia Pacific has established as one of the leading market region for alpha olefins market followed by North America and Europe regions. North American alpha olefins market is predicted to observe a rapid growth on account of high alpha olefin consumption to produce synthetic lubricants, increasing alpha olefins production capacities, and rising economic growth rate.
In North American region, the U.S. is predicted to be the major contributor in the regional growth of alpha olefins market and is expected to see a significant demand for alpha olefins during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in production of crude oil. Recent discovery of shale gas reserves is anticipated to meet the alpha olefins raw material demand gap and drive the market growth.
In Europe, the demand for alpha olefins is anticipated to grow in various countries such as Italy, Germany, Spain, UK, France, and Russia on account of increasing investments in innovation and growing purchasing power of European consumers. Moreover, presence of major automobile manufacturers specifically in Germany is expected to give a new impetus to the market growth.
Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in alpha olefins. However, Latin America will likely experience only modest growth given the current sluggish economic conditions.
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