Market Overview:
Alpha olefins are majorly used in the production of polyolefin comonomer which is in turn used in the manufacture of HDPE and LLDPE pipes. These pipes have major applications in of huge government construction projects as well as residential pipe lining construction purposes which is increasing in the forecast period owing to rapid urbanization coupled with increasing disposable income in emerging economies is predicted to have a positive impact in the growth of the alpha olefins. Furthermore, alpha olefins are used in the production of surfactants which is an intermediate in the manufacture of soaps and detergents. Increasing population coupled with increasing demand for basic amenities such as soaps and detergents is anticipated to have a positive impact on the growth global alpha olefins market.
For majority of the industries around the globe alpha olefins are common feedstock. 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 production has two routes, one is by the catalytic oligomerization of ethylene and the other is by fishcer-tropsch processes to produce C4-C20+ long chain linear olefin compounds. Alpha olefins are end products from the petroleum refineries. So, the entire global market of these compounds are reliant on the global volume figures of crude oil processing. The important factors which propel the alpha olefins market are surging in oil & gas exploration and oil extraction activities which propel the alpha olefins use as drilling machinery fuel in these activities, increasing demand for alpha olefins which are integral parts in manufacturing synthetic lubricants and these are used in passenger vehicles, transport vehicles and industrial mechanical machinery and also increasing investments on research activities owing to further commoditize the alpha olefins products for daily use in many applications.
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Major Key Players:
The Major Players operating in the 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 (Russia),
• Qatar Chemical Company Ltd. (Qatar),
• Evonik Industries AG (Germany),
• Idemitsu Kosan Co.,Ltd. (Japan)
Market Segmentation:
The Global Alpha Olefins Market is categorized on the basis of Type, Application, and Region:
On The Basis Of Type:
• 1-Butene,
• 1-Hexene,
• 1-Octene,
• 1-Decene
On The Basis Of Applications:
• Polyolefin Comonomer,
• Plasticizer,
• Lubricant,
• Surfactant,
• Drilling Machinery Fuel
On The Basis Of Region:
• Asia Pacific,
• Europe,
• Latin America,
• North America,
• 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 Market is anticipated to grow with the highest CAGR during the assessment period, 2017 to 2023 due to increasing construction projects in this region. The demand for alpha olefins is predicted to surge in numerous countries of the Asia Pacific such as China, India, Indonesia, Japan and South Korea due to increased pipes production which is anticipated to fuel the alpha olefin market. North American alpha olefins market is predicted to observe a huge growth on account of high alpha olefin consumption in order to produce synthetic lubricants which is major application of alpha olefins compounds, increasing alpha olefins production capacities, and rising economic growth rate. In Europe, the demand for alpha olefins is predicted to grow in various countries such as Italy, Germany, Spain, UK, France, and Russia on account of increasing expenditure in innovation and growing purchasing power of 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.
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