The Alpha Olefins Market is projected to grow from USD 9.3 billion in 2017 to reach USD 13.5 billion by 2022, at a compound annual growth rate (CAGR) of 7.8% during the forecast period. The market is driven by the growing demand for automobiles & plastics and the growth of the major application segments such as polyolefin co-monomers, surfactants and intermediates, and lubricants.
Browse 123 market data Tables and 27 Figures spread through 134 Pages and in-depth TOC on "Alpha Olefins Market by Type (1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecene), Application (Polyolefin Co-monomers, Surfactants and Intermediates, Lubricants, Fine Chemicals, Plasticizers, Oil Field Chemicals), and Region - Global Forecast to 2022"
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The consumption of 1-Butene is increasing in the plastic industry. There is a growing demand for plastic packaging in the food and pharmaceutical industries, which, in turn, is driving the 1-Butene segment of the alpha olefins market. 1-Butene is used as a comonomer in flexible and rigid packaging. Therefore, the growing plastic industry is playing a pivotal role in the growth of the 1-Butene segment of the alpha olefins market.
The discovery of oil fields in the emerging regions is boosting the demand for specialty oil field chemicals, which is expected to fuel the alpha olefins market in the oil field chemicals segment during the forecast period. The second fastest-growing application of alpha-olefins is polyolefin comonomers. The advancement of polymer technology and demand from the packaging industry are the main drivers for the market in this segment.
In 2016, North America was the largest alpha olefins market. The market growth is attributed to a lot of factors such as the region’s vast natural resources, strong industrial base, and availability of low-cost raw materials, production of shale gas, and the presence of polyolefin manufacturers, namely, Chevron Phillips Chemical Co., The Dow Chemical Company, and ExxonMobil. These companies are expanding their business in the region, which is helpful for market growth in North America.
The alpha olefins market is characterized by the presence of players such as Chevron Phillips (US), Shell (Netherlands), Ineos (Switzerland), Sasol (South Africa), SABIC (Saudi Arabia), Evonik (Germany), ExxonMobil (US), Dow Chemical (US), Qatar Chemical Company Ltd (Qatar), and PJSC Nizhnekamskneftekhim (Russia), among others.
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