Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Alpha Olefin Market Size is Expected to Grow from USD 9.85 Billion in 2023 to USD 16.72 Billion by 2033, at a CAGR of 5.43% during the forecast period 2023-2033.
Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On The Global Alpha Olefin Market Size, Share, and COVID-19 Impact Analysis, By Product (1-Butene, 1-Octene and 1-Hexene), By Application (Polyethylene, Detergent Alcohol and Synthetic Lubricant), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
The global supply and demand for alpha olefins, a class of unsaturated hydrocarbons with a double bond at the first carbon atom in a carbon chain, are included in the alpha olefin market. These multipurpose substances are essential for making a wide range of goods, including polyethylene, lubricants, detergents, and surfactants. Alpha olefins' use in a variety of industries, such as plastics, chemicals, and personal care, is reflected in the market. Alpha olefins, sometimes referred to as terminal alkenes, are unsaturated hydrocarbons (alkenes) with a double bond at the "alpha" or first carbon position, at the very end of the carbon chain. This indicates that the molecule's first and second carbon atoms are joined by a double bond. Furthermore, oil field chemicals, lubricants, fine chemicals, plasticizers, polyolefin co-monomers, surfactants, and intermediates all make extensive use of alpha olefins. Given that leading companies place a high priority on providing premium alpha olefins that are customized to fulfill the unique needs of various sectors, the wide range of applications helps to explain the market's mild consolidation. However, the volatility of raw material prices, environmental laws, and the effects of worldwide events like pandemics are the main causes of the difficulties facing the alpha olefin industry.
The 1-hexene segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the product, the global alpha olefin market is divided into 1-butene, 1-octene, and 1-hexene. Among these, the 1-hexene segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. It is anticipated that 1-hexene's widespread use as a monomer in the manufacturing of linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE) polymers will support the segment's expansion, especially in the packaging sector.
The polyethylene segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the global alpha olefin market is divided into polyethylene, detergent alcohol, and synthetic lubricant. Among these, the polyethylene segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is because of its many uses; the building sector is the main market for polyethylene compounds. Furthermore, polyethylene is widely used in the packaging industry and is a useful material for developing prototypes for 3D printers and Computer Numerical Control (CNC) machines.
North America is anticipated to hold the highest share of the global alpha olefin market over the projected period.
North America is anticipated to hold the highest share of the global alpha olefin market over the projected period. Alpha olefin production is being driven by the spike in shale gas extraction in the United States, which has increased ethylene output. Additionally, the Gulf of Mexico's ongoing oil exploration efforts are expected to accelerate market expansion. Alpha olefin production is also anticipated to increase in the region as a result of Canada's increased crude oil production.
Asia Pacific is estimated to grow at the fastest CAGR of the global alpha olefin market during the forecast period. Rapid industrialization, the growth of the automobile industry, and the expanding packaging industry are all contributing to the market's notable expansion. The market is expanding as a result of the region's significant investments in R&D as well as the increased emphasis on specialty chemicals.
Company Profiling
Major vendors in the global alpha olefin market are Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, and Petrochemicals (Malaysia) Sdn. Bhd., INEOS Oligomers, Mitsubishi Chemical Corporation, SABIC, Sasol, Shell plc, Jam Petrochemical, Dow, and others.
Key Target Audience
· Market Players
· Investors
· End-users
· Government Authorities
· Consulting and Research Firm
· Venture capitalists
· Value-Added Resellers (VARs)
Recent Development
· In September 2023, ExxonMobil Corporation added two additional chemical manufacturing plants to expand its Baytown, Texas, facility's production capacity. Producing high-value alpha olefin products from the refining facilities on the US Gulf Coast is the main goal of this project.
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global alpha olefin market based on the below-mentioned segments:
Global Alpha Olefin Market, By Product
· 1-Butene
· 1-Octene
· 1-Hexene
Global Alpha Olefin Market, By Application
· Polyethylene
· Detergent Alcohol
· Synthetic Lubricant
Global Alpha Olefin Market, By Regional
· North America
o US
o Canada
o Mexico
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Rest of Europe
· Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia Pacific
· South America
o Brazil
o Argentina
o Rest of South America
· Middle East & Africa
o UAE
o Saudi Arabia
o Qatar
o South Africa
o Rest of the Middle East & Africa
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