According to new Global Market Insights, Inc, chemical research report Alpha Olefin Market size is likely to witness a significant upsurge to 2025 owing to growing demand for linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE) in plastics industry. It is majorly utilized for LLDPE & HDPE manufacturing owing to attaining persuading attributes including superior resistance and flexibility which may accelerate industry growth.
1-Hexene alpha olefin market size is anticipated to rise significantly in projected timeframe owing to growing plastics and automobiles demand. 1- Hexene is predominantly utilised as a comonomer in manufacturing plastic products including polyethylene, LLDPE and HDPE for attaining superior mechanical resistance which will promote product demand. Growing plastic packaging demand from industries including food & beverages, pharmaceutical, chemical, consumer goods and cosmetics & personal care will favour plastics demand thus, driving 1-Hexene olefins market growth.
Alpha Olefin market size from surfactant application may witness a steady demand over forecast period. Growing product utilisation in surfactants production owing to beneficial attributes including superior detergency, compatibility with hard water along with quality wetting and forming should promote industry growth.
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Alpha Olefin market size from plastomers application may witness appreciable gains in the projected time frame. Rising product utilisation as a major raw material for plastomers production owing to gain rubber like properties and plastic processability will have positive impact on industry growth. Growing plastomers demand in flexible packaging, molded & extruded products and foamed compounds manufacturing owing to superior toughness, impact strength, durability and flexibility should promote product demand.
Rising synthetic lubricants demand over petroleum-based lubricants owing to persuading characteristics including biodegradability and non-toxicity which will promote industry growth. Escalating synthetic lubricants demand in automotive industry due to energy efficiency, superior wear protection and broad range of working temperature should accelerate alpha olefin product demand.
Volatility in raw material prices including ethylene owing to ethane feedstock supply deficit for ethylene production may challenge industry profitability, thus affecting alpha olefin market price trends. Rising capital investment for setting up commercial manufacturing plant may hamper industry growth.
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North America, led by Mexico, Canada and the U.S. alpha olefin market size, is anticipated to rise significantly in the projected time period. Growing oil & gas exploration and production activities owing to rising shale oil reserves should promote alpha olefin demand. Capacity expansion by major players including Chevron Phillips Chemical Company, Dow chemical and ExxonMobil should cater growing product demand, thus driving regional industry growth.
Asia pacific, led by Australia, South Korea, Japan, China and India market size is anticipated to experience significant growth in plastics industry. China is the largest plastic products producer and consumer. Rising plastics usage in consumer electronics, automotive, packaging and medical industries should promote regional industry growth. Supportive Chinese government initiatives including “Made in China” providing favourable investment climate will promote inland product manufacturing, thus driving regional alpha olefin market growth.
Global alpha olefin market share is moderately fragmented. The key players operating in the market includes Royal Dutch Shell, Chevron Phillips Chemical, INEOS Group, Evonik Industries, SABIC, ExxonMobil, PJSC Nizhnekamskneftekhim, Qatar Chemical Company, Idemitsu Kosan Co and Sasol Limited.
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