Alpha Olefin Market: Segmented: By Type (1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecene), By Application (Polyolefin Comonomers, Surfactants And Intermediates, Lubricants, Fine Chemicals, Plasticizers, Oil Field Chemicals, And Others), And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
[ 170 + Pages Research Report ] Alpha Olefin Market to surpass USD 18.2 billion by 2031 from USD 11 billion in 2021 at a CAGR of 5.20% in the coming years, i.e., 2021-31.
Alpha-olefins Market is similar to organic compounds which are alkenes (also known as olefins), differentiated by having a double bond at the primary or alpha (α) position. This location of a double bond improves the reactivity of the compound and makes it beneficial for various uses.
Global Alpha Olefin market is expected to project a notable CAGR of 9.25% in 2031.
The growing demand from the end-use industries such as plastics and automotive is fueling the market of alpha-olefins. Alpha olefins are applied in the production of polyethylene. Therefore, the increasing demand from the plastics industry for polyethylene production is anticipated to boost the market for alpha-olefins.
1-Butene segment to grow with the highest CAGR during 2021-31
Global Alpha Olefin market is classified on the basis of Type into 1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecene. 1-Butene segment dominates the market share globally. The presence of a double bond makes this element more reactive and suitable for several applications. It is used as a comonomer in the production of polyethylene. It is also used in the production of aldehydes to make fatty acids for plasticizers. This type of alpha-olefin tends to modify the properties of polyethylene to meet the specific requirements of many end-use industries.
Polyolefin Comonomers segment to grow with the highest CAGR during 2021-31
Based on application, the global Alpha Olefin Market fragmented into Polyolefin Comonomers, Surfactants and Intermediates, Lubricants, Fine Chemicals, Plasticizers, Oil Field Chemicals, And Others. Polyolefin Comonomers has the maximum share in the market. The major factors driving the polyolefin comonomers market are the strong growth in developing economies such as China, India, and Brazil and the increasing demand from packaging and plastic molding & injection industries. Furthermore, the expansions in polymer technology will also contribute to its growth.
Increasing demand for PAO-based synthetic lubricants
PAOs gained high popularity as high-performance lubricants because they possess highly desirable features such as high viscosity index, thermal stability, oxidative stability, compatibility with mineral oils, and low poisonousness. PAOs not only provide the benefits of technical performance but also continue the quality of the environment in certain subtle applications. PAO-based synthetic lubricants deliver high performance in offshore drilling uses that include environmental alarms. Moreover, certain PAOs are biodegradable, thus, can be applied as a substitute for vegetable-based oils.
Growing R&D investments
A new concept to produce alpha-olefins from biomass has been adopted by several research laboratories and universities. In 2010, researchers showed that the medium-chain length free fatty acids can be manufactured by E. coli using sugars as a carbon source. The research makes use of codon-optimized eukaryotic and prokaryotic enzyme sources. The projects reported 35-40% of the theoretical yields with 2.7 g/L being attained that compares favorably with the recent research reports. Thus, growth in research and development department fuel the overall market globally.
The high price of raw material
With the surge in the cost of raw materials, the cost of manufacturing alpha-olefins also increases. This increases the overall expense of the manufacturers. Furthermore, the shifting focus of the manufacturers toward high technologies hinders the growth of the alpha olefins market. With the use of advanced technologies, the cost of manufacturing increases, as it needs high capital to adopt the new technologies. Therefore, with the increase in cost of production, the price of alpha-olefins may increase.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Alpha Olefin market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominates the Alpha Olefin market. e region has a huge potential for the alpha olefins market as the region has a vast and varied industrial base. The growth in North America is mainly due to the continuous expansion of oil & gas and petrochemical infrastructure in the U.S., Canada, and Mexico. North America is considered as a potential investment hub for alpha olefins production by various domestic as well as foreign prominent players because of its vast natural resources reserves.
Global Alpha Olefin is further segmented by region into:
Alpha Olefin Segments:
|Market size value in 2021||USD 11 billion|
|Revenue forecast in 2031||USD 18.2 billion|
|Growth Rate||CAGR of 5.20% from 2021 to 2031|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Application and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Royal Dutch Shell (The Netherlands), Chevron Phillips Chemical Company (U.S.), Ineos (Switzerland), SABIC (Saudi Arabia), Sasol (South Africa), Evonik Industries (Germany), The Dow Chemical Company (U.S.), ExxonMobil (U.S.), PJSC Nizhnekamskneftekhim (Russia), JAM Petrochemicals Company (Iran) and Other Prominent Players|
Alpha Olefin Market size was estimated at USD 11 billion in 2021 and is expected to reach USD 18.2 billion by 2031.
Key players: Royal Dutch Shell (The Netherlands), Chevron Phillips Chemical Company (U.S.), Ineos (Switzerland), SABIC (Saudi Arabia), Sasol (South Africa), Evonik Industries (Germany), The Dow Chemical Company (U.S.), ExxonMobil (U.S.), PJSC Nizhnekamskneftekhim (Russia), JAM Petrochemicals Company (Iran) and Other Prominent Players
1-Butene segment and Polyolefin Comonomers segment are anticipated to hold the largest Alpha Olefin Market
Drivers: Increasing demand for PAO-based synthetic lubricants and Growing R&D investments
Alpha-olefins Market is similar to organic compounds which are alkenes (also known as olefins), differentiated by having a double bond at the primary or alpha (?) position. This location of a double bond improves the reactivity of the compound and makes it beneficial for various uses.
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