Alpha Olefins Market to Deliver Prominent Growth & Striking Opportunities During 2018-2023

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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.

Top Key Players:

  • Royal Dutch Shell plc
  • Evonik Industries AG
  • The Dow Chemical Company
  • Chevron Phillips Chemical Company LLC
  • Ineos Group Limited
  • Sasol Limited
  • PJSC Nizhnekamskneftekhim
  • Qatar Chemical Company Ltd.
  • Idemitsu Kosan Co., Ltd.

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Market Definition:

Alpha olefins are organic compounds that have their major application as feedstock in various end-use industries which utilize petrochemicals to carry out various production processes. Market Research Future (MRFR) has published a report asserting that the global alpha olefins market is forcasted to expand at a moderate growth rate in the forthcoming years.

Alpha Olefins Market Drivers and Restraints:

Increasing demand for alpha olefins as comonomers for synthetic lubricant production, polyolefin production, as surfactant in detergent production and crude oil refining are propelling the growth of the global alpha olefins market. Rise in exploration and extraction activities of oil and gas and increased utilization of alpha olefins as drilling machinery fuel in exploration activities are some other factors that are fueling the growth of the global alpha olefins market. The crude oil refining processes have increased across the globe in order to meet the high global demand for energy and fuel, which in turn is leading to the noteworthy expansion of the global alpha olefins market. However, fluctuations in the prices of crude oil and government regulations on carrying out exploration activities are restraining the growth of the global alpha olefins market in the forthcoming years.

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Geographical Analysis:

Asia Pacific is predicted to grow with the highest CAGR during the review period, 2017 to 2023 due to increasing construction projects. The demand for alpha olefins compounds is anticipated to increase in many countries of the Asia Pacific region such as China, India, Indonesia, Japan and South Korea owing to increased use of pipes in these increasing construction projects which is anticipated to propel the alpha olefin market. Moreover, the presence of huge oil & gas reserves in this region is anticipated to meet the demand for alpha olefin raw materials.

Asia Pacific has established as one of the leading market region for alpha olefins market followed by North America and Europe regions. North American alpha olefins market is predicted to observe a rapid growth on account of high alpha olefin consumption to produce synthetic lubricants, increasing alpha olefins production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be the 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. As of 2016, the U.S accounts for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in production of crude oil. Recent discovery of shale gas reserves is anticipated to meet the alpha olefins raw material demand gap and drive the market growth.

In Europe, the demand for alpha olefins is anticipated to grow in various countries such as Italy, Germany, Spain, UK, France, and Russia on account of increasing investments in innovation and growing purchasing power of European 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. However, Latin America will likely experience only modest growth given the current sluggish economic conditions.

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