New York, USA, June 30, 2021 (GLOBE NEWSWIRE) -- Research Dive has added a report on the global linear alpha olefins market to its repository. The report states that the market is estimated to hit $11,747.8 million and grow with a CAGR of 4.9% from 2019 to 2026. The report is an in-depth study presenting thorough lookout of the present scenario and future perspective of the global market. The report is articulated by veteran market analysts and assures to be a reliable source of data, recent trends, and all-encompassing market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
A notable rise in the demand for polyethylene and increasing use of alpha olefin in the automobile industry are propelling the global storage refrigeration monitoring market growth. Additionally, increasing focus of leading companies, such as SASOL, INEOS, and CPChem, on the extraction of raw materials from ecofriendly products for reducing the production as well as raw material cost is expected to unlock rewarding opportunities for the market growth during the forecast period. However, huge investments involved in the procurement of raw materials and production of the components is projected to hinder the growth of the global market.
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The report segments the global linear alpha olefins market based on product type, application, and region.
1-Hexen Sub-Segment to Hold Leading Market Share
The 1-Hexen sub-segment of the product type segment is anticipated to lead the market by surpassing a revenue of $2,678.5 million in the forecast period. This growth is mostly attributed to the increasing use of 1-Hexen owing to its outstanding chemical properties.
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Polyethylene Manufacturing Sub-Segment to Observe Continuous Growth
The polyethylene manufacturing sub-segment of the application segment grabbed highest market share in 2018 and is expected to hit $4,909.4 million in the forecast period. This growth is mostly attributed to the mounting use of Low-density polyethylene (LDPE) in several industrial sectors.
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North America Region to Observe Speedy Growth
The report analyzes the global linear alpha olefins market across various regions including North America, Europe, Asia Pacific, and LAMEA. Among these, the North American region market is projected to observe significant growth with a CAGR of 3.6% during the estimated period. The growth of this region market is mainly due to the presence of vast and diverse industrial base and continuous developments in the petrochemical and gas & oil infrastructure.
Major Players in the Market:
1. Qatar Chemical Company Ltd (Q-chem).
2. Chevron Phillips Chemical Company LLC
3. Mitsubishi Chemical Corp
4. Exxon Mobil Corporation
5. INEOS Oligomers
6. Petrochemicals(M) Sdn.Bhd,
7. Royal Dutch Shell
8. Evonik Industries
9. JAM Petrochemicals Company
For instance, in January 2019, Shell Chemical LP (Shell), one of the world’s leading chemicals suppliers, proclaimed the initialization of the production of the fourth alpha olefins (AO) unit at its Geismar, Louisiana, USA chemical manufacturing site.
The report also caters numerous industry-top tactics and approaches like top strategic moves & developments, product/service range, business performance, Porter Five Forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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