Alpha Olefin Market:Growing demand from end-use industries such as automotive and plastic the market by 2015 – 2021
Alpha olefins are organic compounds consists of olefins or alkenes. Alpha olefins are generally manufactured by the oligomerization of ethylene. The alpha olefins are used in a broad range of chemical applications such as synthetic lubricants, polyethylene, and detergent alcohols among others. It is also used in the synthetic fatty acids, oxo alcohols, epoxides, tanning oils, alkylated aromatics and alpha olefins sulfonates.
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The worldwide alpha olefin market is driven by growing demand from end-use industries such as automotive and plastic. Alpha olefins are significantly used in production of polyethylene (LLDPE) and high density polyethylene (HDPE) in plastic industry. However, the fluctuating raw material prices for manufacturing alpha olefins are expected to hinder the growth of the market. Nonetheless, bio-based alpha olefins production is expected to give new opportunities for the growth of the market.
The report covers forecast and analysis for the alpha olefin market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on revenue (USD Million). The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available in the alpha olefin market on a global level.
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Global alpha olefin market has been segmented on the basis of type, application and region. On the basis of type, alpha olefin market is classified into 1-butene, 1-hexene, 1-octene and C10 & higher olefins. 1-Hexene emerged as leading technology segment in 2015 due to its unique properties which makes them suitable for use in board range of application. End user segment includes LLDPE, HDPE, valeraldehyde, plasticizers, lubricants and others. LLDPE segment held the largest market share in 2015 due to huge demand for high-quality plastics from the plastics industry. The market for alpha olefins is growing due to the increased demand for LLDPE from various industries. Asia Pacific is the leading market for LLDPE. Valeraldehyde is estimated to emerge as one of the fastest growing application segment due to growing demand form rubber industry in the coming years.
Geographically, alpha olefin market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific dominated the global alpha olefins market in 2015 owing to rising demand from end use industries such as building & construction, automotive, and packaging and textile. China expected to record highest growth in the region. The alpha olefin market in China is mainly driven by its growing plastic industry coupled with easy availability and low costs of raw materials.
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Chevron Phillips Chemical Company LLC, Royal Dutch Shell Plc, Exxon Mobil Corporation, and Saudi Arabia Basic Industries Corporation, Idemitsu Petrochemical, Evonik Industries AG, and Godrej Industries Ltd. are some of the major players operating in alpha olefin market.
This report segments the alpha olefin market as follows:
Global Alpha olefin Market: Type Segment Analysis
- C10 & higher olefins
Global Alpha olefin Market: Application Segment Analysis
- Linear low-density polyethylene (LLDPE)
- High-density polyethylene (HDPE)
Global Alpha olefin Market: Region Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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