New York, Oct. 07, 2019 (GLOBE NEWSWIRE) -- Increasing demand for poly alpha olefins is one of the major factors estimated to stimulate market demand.
The global 1-decene market is expected to reach USD 1.45 Billion by 2026, according to a new report by Reports and Data. Increasing demand for poly alpha olefins is one of the major factors estimated to stimulate market demand. Stringent regulatory norms in the food & beverage and cosmetic industries, as well as growing environmental concerns in automotive industries, have led to an increased demand for synthetic lubricants, which in turn, would be instrumental in driving market growth during the forecast period.
1-decene is used as a chemical intermediate in the manufacturing of detergents and their derivatives, which finds application in the production of industrial surfactants. The increase in demand for surfactants from end-user industries is causative of a rise in the demand for 1-decene. Further benefits of the product include its usage as specialty industrial chemicals (perfumes, flavors, pharmaceuticals, dyes, oils, and resins), comonomer for specific copolymers, production of amines, oxo alcohols, epoxides, synthetic fatty acids, and alkylated aromatics, among others.
The Asia Pacific region is likely to grow at the highest rate in the forecast period. The growth of the market in the region is owing to the easy availability of raw materials. Also, increasing demand for polyethylene in developing countries, such as China and India, is expected to escalate the market demand in the forecast period. China leads, in terms of consumption in Northeast Asia for PE in 2018, with domestic consumption likely to increase approximately 10 million tons by 2021, which accounts for around half of the total global demand. China drives 97.0% of PE demand in the region.
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Further key findings from the report suggest
- By grade, the synthetic 1-decene market dominated the market in 2018 and is expected to grow at a rate of 3.9% in the forecast period. The market dominance of this grade is owing to the low price and easy availability of the product for use in end-user industries.
- By application, poly alpha olefins contributed to the largest market share in 2018 and are likely to witness a growth rate of 3.8% in the forecast period. Poly alpha olefin is the most synthetic base oil used in automotive and industrial lubricants. PAOs find extensive application in automotive fluids along with hydraulic, bearing, and gear oils, working in extreme conditions. Also, these are deployed as base fluids in some wide temperature range greases.
- Europe held the largest market share in 2018 and is expected to grow at a rate of 3.7% in the forecast period. The high demand in the region is due to high consumption, rising production capacities, competitive production costs, and high economic growth.
- Key participants include Royal Dutch Shell, Chevron Phillips Chemical Company, SABIC, Sasol Limited, ExxonMobil Corporation, Ineos Group Limited, Qatar Chemical Company, Idemitsu Petrochemical Company, Sigma-Aldrich, and Alfa Aesar, among others.
- In May 2019, Chevron Phillips Chemical Company, a leading player in the market, announced its continuing research activity on the addition of a world-scale 1-Hexene unit. The addition would expand the production of normal alpha olefins (NAO), promoted under the brand name Alpha Plus®. NAO has widespread usage in the production of polyethylene, synthetic motor oils, plasticizers, lubricants, surfactants, automotive additives, paper, and multiple other specialty products.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global 1-decene market on the basis of grade, application, end-users, and region:
Grade Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Bio-Based
- Synthetic
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Polyethylene
- Poly Alpha Olefins
- Detergent Alcohols
- Others
End-Users Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Food & Beverage Industry
- Pharmaceutical Industry
- Paints & Dyes Industry
- Others
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Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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