Market Abstract:
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.
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.
Regional Analysis: The Global Alpha Olefins Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Above these, Asia Pacific has emerged as the leading market region for Alpha Olefins followed by North America and Europe. North American alpha olefins market is predicted to witness a tremendous growth on account of high Alpha Olefin consumption to produce synthetic lubricants, increasing production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be a 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.
Market Classification: The Global Alpha Olefins Market is classified on the basis of application, type, and region. 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 type, the market is bifurcated into 1-butene, 1-hexene, 1-octene, 1-decene and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Key Global Players: Some of the key players operating in the Global Alpha Olefins Market are, SABIC (Saudi Arabia), Sasol Ltd. (South Africa), The Dow Chemical Company (U.S.), PJSC Nizhnekamskneftekhim (Russia), Qatar Chemical Company Ltd. (Qatar), Royal Dutch Shell plc (Netherlands), Chevron Phillips Chemical Company LLC (U.S.), Ineos Group Ltd. (U.K), Evonik Industries AG (Germany), and Idemitsu Kosan Co. Ltd. (Japan)
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