About Alpha Olefins Market:
Alpha Olefins are predominantly utilized in various applications such as plasticizer, lubricant, drilling machinery fuel, surfactant, polyolefin co-monomer, and others. Alpha Olefins market is predicted to witness strong due to growing demand from automobile sector, rapid industrialization, and increasing demand from construction sector. In addition, among the end use application segment polyolefins co-monomer accounted for the largest market share in 2016 and holds for around 29% market share due to their wide usage in automotive application, industrial applications, household and packaging applications. Furthermore, increasing demand in numerous application segments due to their versatility, recyclability, and low cost is predicted to propel the polyethylene market. The lubricant segment is expected to register healthy growth on account of increasing demand from automotive and industrial sector. Furthermore, rising population combined with the increasing need of infrastructure development is predicted to fuel the growth of the market.
Industry News: In, June 2017- A U.S. based Chevron Phillips Chemical Company announced that the company has completed the production capacity expansion of its poly alpha olefins (PAO) at its Cedar Bayou plant in Texas. The company has increased the capacity by 20% which will help company to meet the rising demand for high performance lubricants in industrial and automotive applications.
Regional Analysis: Geographically, Asia Pacific emerged as the largest market for alpha olefins followed by Europe and North America. The Asia Pacific alpha olefins market is estimated to witness significant growth with a healthy CAGR over the assessment year on account of rising demand from automotive and packaging industries. Moreover, the demand for alpha olefins is predicted to rise in numerous countries of Asia Pacific such as China, India, Thailand, Malaysia, Japan, Australia, and South Korea on account of rising building & construction activities combined with high adoption rate from various end use industries.
Market Classification: The Global Alpha Olefins Market is classified 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.
Key Global Vendors: 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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