Newark, NJ, Nov. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global alpha olefins market is expected to grow from USD 8.6 billion in 2020 and reach USD 13.7 billion by 2028, growing at a CAGR of 6% during the forecast period 2021-2028.
The alpha olefins market is likely to be driven by increased demand for alpha olefins in different applications such as polyolefin co-monomers, surfactants and intermediates, automotive, and others in the coming years. In addition, rising demand for pao-based synthetic lubricants, as well as an expanding population, are expected to increase the market in the approaching years. Furthermore, an increase in demand for alpha olefins-based food packaging goods, as well as rising R&D investment for the manufacturing of bio-based alpha-olefins, are expected to drive the market over the estimated period. Growing demand for synthetic lubricants, as well as for various types of plastics, such as high-density polyethylene and polypropylene, due to their use in a variety of applications such as packaging, industrial processes, consumer goods, and others, is a major growth driver for the alpha olefins market.
Alpha-olefins are an organic compound family that consists of alkenes (also known as olefins) with the chemical formula CxH2x with a double bond at the main or alpha (α) position. 1st The presence of a double bond in this place increases the compound's reactivity, making it beneficial for a variety of applications. Branched and linear alpha-olefins are the two varieties of alpha-olefins (or normal). The chemical characteristics of branched alpha-olefins with a branch at the second (vinylidene) or third carbon number differ greatly from those of linear alpha-olefins and those with branches at the fourth carbon number and beyond. Polyethylene is manufactured using alpha olefins. As a result, the market for alpha olefins is projected to be driven by the growing demand for polyethylene in the plastics industry.
DOWNLOAD FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/419720/request-sample
Furthermore, investments in different cracker joint venture projects, as well as the ample availability of low-cost ethane from shale gas deposits in the United States, are expected to improve raw material supply for alpha-olefin production, hence boosting the alpha-olefin market's development. Furthermore, rising oilfield operations and petrochemical output in the Middle East have boosted ethylene output, aiding the region's alpha olefin market expansion. On the other hand, tight environmental regulations have raised the cost of shale gas extraction, impacting the global alpha olefins industry. Furthermore, throughout the projected period, the increased use of electric cars is predicted to have a significant influence on global lubricant consumption, affecting the growth of the alpha olefins market.
Key players operating in global alpha olefins market include Chevron Phillips Chemical Company (U.S.), Royal Dutch Shell (The Netherlands), Linear Alpha Olefins (LAO), EVX Midstream Partners LLC, Ineos (Switzerland), Evonik Industries (Germany), Cairn Energy PLC, SABIC (Saudi Arabia), Sasol (South Africa), PJSC Nizhnekamskneftekhim (Russia), The Dow Chemical Company (U.S.), ExxonMobil (U.S.), JAM Petrochemicals Company (Iran), Cheiron Petroleum Corporation, among others. To gain a significant market share in the global alpha olefins market, the key players are now focusing on adopting strategies such as mergers & acquisitions, recent developments, collaborations, joint venture, product innovations, and partnership. Cheiron Petroleum Corporation and Cairn Energy PLC are some of the key manufacturers operating in alpha olefins market.
- Cheiron Petroleum Corporation and Cairn Energy PLC reach a deal for Shell's onshore upstream operations in Egypt.
- EVX Midstream Partners LLC will receive PlatinumStripe 1800 Series PE-RT Piping from Performance Pipe, a division of Chevron Phillips Chemical Company LP, to carry generated wastewater more sustainably in the Eagle Ford Basin of Texas to numerous saltwater disposal (SWD) facilities.
1-Butene segment dominated the market and held the largest market share of 27.9% in the year 2020
Based on product, the global alpha olefins market is segmented into 1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecene and Others. 1-Butene segment dominated the market and held the largest market share of 27.9% in the year 2020. The use of 1-Butene in the manufacturing of polymers such as LLDPE is a primary driver of its rise. The increasing use of these products in the packaging sector is predicted to increase demand for 1-butene, which is one of the key starting ingredients.
Browse full report with TOC at https://www.fiormarkets.com/report/alpha-olefins-market-by-by-type-1-butene-1-octene-419720.html
Polyethylene segment dominated the market and held the largest market share of 27.8% in the year 2020
Based on application, the global alpha olefins market is segmented into Polyethylene, Detergent Alcohol, Synthetic Lubricant and Others. Polyethylene segment dominated the market and held the largest market share of 27.8% in the year 2020. Polyolefin are expected to increase at a significant CAGR over the forecast period. Rising applications in the consumer products and packaging industries are driving demand increase. With so much innovation taking place in these industries, alpha olefin demand in the application segment is predicted to skyrocket.
Regional Segment of Alpha Olefins Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global alpha olefins market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 28% in the year 2020. The significant growth in shale gas production has boosted the petrochemical processing sector in North America, which is pushing alpha olefin output in the area. Furthermore, a significant rise in oil and gas investments is projected to result in a significant increase in demand for oilfield chemicals, which is projected to be one of the primary drivers of regional growth throughout the projected period.
Request for Customization: https://www.fiormarkets.com/enquiry/request-customization/419720
About the report:
The global alpha olefins market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
For Instant Purchase: https://www.fiormarkets.com/checkout.html?reportid=419720&type=single
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
Contact Us
Avinash D
Head of Business Development
Phone: +1-201-465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com
To Know More Market Research Reports and Industry Analysis, Visit our Associate Website: https://marketandresearch.biz
Related Reports
Power Sports Market - https://www.fiormarkets.com/report/power-sports-market-by-application-snow-off-road-and-419704.html
Wireless Display Market - https://www.fiormarkets.com/report/wireless-display-market-by-offering-hardware-software-419561.html
Personal care ingredients Market - https://www.fiormarkets.com/report/personal-care-ingredients-market-by-source-synthetic-ingredients-419565.html
Household Slicer Market - https://www.fiormarkets.com/report/household-slicer-market-by-product-automatic-manual-distribution-419530.html
