USD 10.46 billion
Global Alpha Olefins Market Size, Share, Growth Analysis, By Product(1-Butene, 1-Hexene), By Application(Polyethylene, Detergent Alcohol) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2117 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
67 |
Figures:
75
Global Alpha Olefins Market Insights
Alpha Olefins Market size was valued at USD 10.46 billion in 2022 and is poised to grow from USD 10.97 billion in 2023 to USD 16.09 billion by 2031, growing at a CAGR of 4.90% during the forecast period (2024-2031).
Alpha-olefins are a class of organic compounds that consist of alkenes (also known as olefins) with the chemical formula CxH2x and are distinguished by the presence of a double bond in the primary or alpha position. This place of a double bond increases the compound's reactivity and makes it useful for a variety of applications. Alpha-olefins are classified into two types: branched and linear (or normal). The chemical properties of branched alpha-olefins with a branch on the second (vinylidene) or third carbon number differ significantly from those of linear alpha-olefins and those with branches on the fourth carbon number and further from the beginning of the chain. Polyethylene is manufactured using alpha olefins. As a result, the increasing demand for polyethylene production from the plastics industry is expected to drive the market for alpha olefins.
Moreover, the Rising demand for alpha olefins in a variety of applications such as polyolefin co-monomers, surfactants and intermediates, automotive, and others is expected to boost the alpha olefins market in the forecasting years. In addition, rising demand for pao-based synthetic lubricants and a growing population are expected to drive the market in the coming years. Furthermore, an increase in demand for alpha olefins-based food packaging products, as well as rising R&D expenditure for the production of bio-based alpha-olefins, are expected to fuel the market during the forecasted period.
US Alpha Olefins Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Polyethylene
Fastest Growth
Polyethylene
Growth Rate
4.90% CAGR
Global Alpha Olefins Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Alpha Olefins Market Size By application 2021-2030 ($ Bn)
Global Alpha Olefins Market Size By application 2021-2030 (%)
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Global Alpha Olefins Market Segmental Analysis
Global alpha olefins market is segmented based on the product, type and region. Based on product, it is classified into 1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecen, Others. Based on application, it is classified as Polyethylene, Detergent Alcohol, Synthetic Lubricant, Others. And Based on Region it is classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.
Analysis by Product
Based on product, 1-hexene is expected to be the fastest-growing product segment Over the forecast years. The increasing use of 1-hexene as a common monomer in the production of High-Density Polyethylene (HDPE) and Linear Low-Density Polyethylene (LLDPE) polymers is expected to boost segment growth. Rising demand for polyethylene due to expanding automotive and consumer goods markets in China, India, and Brazil is expected to drive the 1-hexene segment even further. It is also used as an additive in synthetic lubricants, which is expected to drive market growth further. Demand for 1-dodecane from industrial and household cleaners, as well as increased application in the personal care industry, will drive growth in this product segment, as 1-dodecane is used to make detergent alcohols. However, rising demand for bio-based detergent alcohols and alkyl aromatics is expected to replace 1-dodecane.
Analysis by Application
Based on application, Polyethylene is the most important application segment of the market share. The construction industry is the most important application market for polyethylene compounds. Polyethylene is also used in the packaging industry and for prototype development on CNC machines and 3D printers. High-density polyethylene is easy to process at a low cost, has a good moisture barrier, and can be used to make opaque packaging. Moreover, Because of its low production costs, heat sealability, high clarity and elongation, and softness, low-density polyethylene is frequently preferred in the field of application. The implementation of stringent pollution control regulations is expected to drive demand for synthetic lubricants. Rising R&D spending is also expected to play a significant role in driving demand for synthetic lubricants. Furthermore, the broad range of applications for these lubricants is expected to drive the market even further.
Global Alpha Olefins Market By application 2021 (%), 2023 (%)
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Global Alpha Olefins Market Regional Insights
Chevron Phillips, INEOS, and Shell are the three largest producers of Linear Alpha Olefins (LAO) via ethylene oligomerization. These companies are well-known in North America, Western Europe, and the Middle East. Western Europe, on the other hand, is likely to face a limited supply of ethylene and will continue to produce LAO via extractive distillation or the full range process with minor capacity additions. Heavy LAOs are the focus of investments in the Middle East and North America. These regions are expected to focus on specialty polyethylene grades, with a particular emphasis on the production of C6 and C8 LLDPE.
Rapid urbanisation and industrialization in China and India are expected to drive polyethylene product demand. Various government incentives and favourable regulatory environments in China, India, Malaysia, and Indonesia have boosted the growth of the Asia Pacific manufacturing sector. Polyethylene, detergent alcohols, synthetic lubricants, and plasticizers all use the product. Increased production of these products in Asia Pacific is expected to further drive the regional market over the forecast period.
Global Alpha Olefins Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global Alpha Olefins Market Dynamics
Drivers
Shale Gas to Bolster Demand for Alpha Olefins
- The discovery of shale gas is a significant contributor to market expansion. Ethylene, naphtha, butane, and natural gas are the primary sources of alpha olefins. The most commonly used production process for producing a full range of alpha olefins is ethylene oligomerization, whereas ethylene is primarily obtained from ethane, which is derived from natural gas. Because shale gas is rich in olefins, its recent discovery in several countries has resulted in an expansion of the olefin industry. The abundant supply of low-cost natural gas-based feedstock from North America's highly productive shale fuels the alpha olefins market. Because of the increased availability of ethane and propane feedstock from shale gas, nearly all of the major North American alpha olefin producers have announced capacity additions for ethylene/propylene or alpha olefins.
Restraints
Stringent Regulations to Hinder Market Growth
- Regulations on the use of polyethylene by the government is a restraint to alpha olefins market growth. Although polyethylene is widely used as a replacement for heavy metals and fibres in end-use industries, its non-degradability and negative environmental impact are significant issues. Government restrictions on polyethylene use reduce demand for alpha olefins, slowing market growth. California, for example, passed SB270 in July 2015, which prohibits the use of plastic bags in grocery stores, pharmacies, and other stores. According to the United Nations Environment Programme, Tanzania has banned the importation, manufacture, sale, and use of plastic bags in May 2019. (UNEP). Strict rules aimed at reducing the use of polyethylene have hampered the growth of alpha olefins.
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Global Alpha Olefins Market Competitive Landscape
alpha olefins market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. The alpha olefin market is partially consolidated, with both international and domestic players
Top Player's Company Profiles
- Chevron Phillips Chemical Company LLC
- Ineos Oligomers
- Shell Chemicals
- ExxonMobil Chemical Company
- Evonik Industries AG
- Idemitsu Kosan Co., Ltd.
- Sasol Limited
- Qatar Chemical Company Ltd. (Q-Chem)
- Nizhnekamskneftekhim
- SABIC
- PJSC Nizhnekamskneftekhim
- PBF Energy Inc.
- CP Chemicals
- Borealis AG
- Chevron Corporation
- SK Global Chemical Co. Ltd.
- Mitsubishi Chemical Corporation
- Formosa Plastics Corporation
- LyondellBasell Industries N.V.
- Dow Inc.
Recent Developments
- In August 2021, INEOS Energy acquired all oil and gas interests from HESS Corporation in Denmark. The deal comprises 61.5% of the HESS operated Syd Arne oil field, complementing the 36.8% share INEOS already holds and 4.8% in the INEOS operated Solsort field.
Global Alpha Olefins Key Market Trends
- Surfactants are found in a wide variety of cleaning products, and one of the most common types is anionic surfactants, which are prized for their foaming ability. There are numerous anionic surfactants for use in detergents, but the salts of dodecylbenzene sulfonic acid and ethoxylated sodium lauryl sulphate are the most commonly used today. However, In contrast, new trends have caused a reconsideration of the suitability of these surfactants due to factors such as hazardous or difficult handling, biodegradability, skin and fabric compatibility, efficiency in low-temperature washing, or transport costs associated with diluted products. As a result, ingredients developed in the previous century, such as Alpha-Olefin Sulfonate (INCI: Sodium C14-16 Olefin Sulfonate), are regaining popularity in the detergency and cosmetic industries.
Global Alpha Olefins Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our alpha olefins market analysis, in terms of product, 1-hexene segment and in terms of application, Polyethylene held a larger market share and it is expected that it can boost the market value in the forecast year. the increasing demand for alpha olefins in a variety of applications including polyolefin co-monomers, surfactants and intermediates, automotive, and others, as well as an increase in demand for alpha olefins-based food packaging products, are expected to boost the alpha olefins market over the forecast years. Moreover, High price of raw material and government regulation are the most challenging factor for the alpha olefins market
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.46 billion |
| Market size value in 2031 | USD 16.09 billion |
| Growth Rate | 4.90% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Alpha Olefins Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Alpha Olefins Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Alpha Olefins Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Alpha Olefins Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Alpha Olefins Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Alpha Olefins Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Alpha Olefins Market Report Snapshots
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