Market Leader - 1-Decene Market
The 1-Decene market size is projected to reach USD 798 million by 2025 from USD 576 million in 2020, at a CAGR of 6.7%. The demand for 1-Decene is attributed to increasing demand for PAO-based lubricants and increasing industrialization in Middle East & Africa and Asia Pacific. However, growth of group III base oils, volatile raw material prices, and growth in demand for hybrid vehicles and increasing battery price parity are restricting its growth in the 1-Decene market. On the other hand, the growing R&D investments for the development of alpha olefins from different sources has created opportunities for manufacturers.
Royal Dutch Shell (Netherlands), Chevron Phillips Chemical Company LLC (US), and INEOS (UK) are the major players in this market.
Royal Dutch Shell is one of the largest players in the 1-Decene market. It is one of the largest oil & gas companies in the world. Shell is both vertically and horizontally integrated and is active throughout the value chain in the oil & gas industry. It is one of the world’s most valuable companies and one of the six oil and gas “supermajors.” In the early 1900s, it was also a part of “seven sisters.” The company offers 1-Decene via the downstream business segment. The company focusses on expansion to remain competitive in the 1-Decene market.
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- In January, 2019, Royal Dutch Shell (Netherlands) started the production of its fourth alpha olefins (AO) unit at its Geismar, Louisiana, US chemical manufacturing site. Such developments make Royal Dutch Shell the largest producer of alpha olefins in the world.
Chevron Phillips Chemical Company LLC is the another key player in the 1-Decene market. The company manufactures a wide range of petrochemicals and sells them across the globe. Chevron is also one of the leading suppliers of alpha olefins, specialty chemicals, and other chemicals. The company’s product line includes aromatics, drilling specialties, alpha olefins, olefins, polyethylene, and specialty chemicals, among others. It operates in China, Belgium, Saudi Arabia, South Korea, the US, and other nations. The company has 33 manufacturing sites in countries including Belgium, Colombia, Qatar, Saudi Arabia, Singapore, and the US. The company offers 1-Decene under the brand name AlphaPlus, sold under normal alpha olefins products. The company focusses on expansion, distribution agreement and joint venture in order to remain competitive in the 1-Decene market.
- In June 2019, Chevron Phillips Chemical Company LLC formed a joint venture with Qatar Petroleum to develop an ethylene complex in Qatar. The complex would contain a 1,900-metric ton per year of ethylene cracker and two downstream high-density polyethylene plants.
- In May 2018, the company strengthened its distribution relationship with Sea-Land Chemical Company, a leading specialty chemical distributor, to include the AlphaPlus brand, which represents normal alpha olefins.
INEOS is among the top producers of olefins and polymers in the world. The company has its production in Europe and North America and concentrates its production on ethylene and propylene, which are the two largest volume olefins globally and are key building blocks for polymers. The company operates in a total of 18 manufacturing sites across Europe and North America. Olefins are either sold to third-party companies or utilized by the company itself to make other derivatives. The company focuses on joint venture, expansion, and investment to remain competitive in the 1-Decene market.
- In June 2019, the company signed an agreement with Saudi Aramco and Total, France, to build its first-ever plant in the Middle East. INEOS will also build plants for LAO and PAOs, which is expected to start its production by 2025.
- In December 2017, INEOS decided to build a low viscosity PAO unit at Chocolate Bayou, Texas. Feedstock for the unit is to be obtained from the adjacent linear alpha olefin (LAO) plant.
Related Reports:
1-Decene Market by Derivative (Polyalphaolefins (Synthetic Lubricants, and Others), Oxo Alcohols (Plasticizer and Detergent Alcohols)), and Region - Global Forecast to 2025
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