Alpha Olefins Market is set to witness significant growth and forecast to 2023Posted by Harish Somani on July 19th, 2018 About Alpha Olefins Market:Global Alpha Olefins Market include rapid increase in oil & gas exploration and extraction activities propelling the Alpha Olefins use as drilling machinery fuel, rising demand for synthetic lubricants for vehicles, and increasing expenditure on research activities. Moreover, demand for Alpha Olefins is predicted to witness significant growth over the assessment period due to surging oil & gas industry. Rising crude oil refining across the globe is anticipated to be an important driver for Alpha Olefins Market during the review period. Increasing automobile production and sales along with rising consumption of lubricants is estimated to fuel the growth of the market. Alpha Olefins find major applications in the production of polyolefin comonomer which is used in the manufacture of HDPE and LLDPE pipes. The use of HDPE and LLDPE pipes in the construction industry is increasing in the forecast period owing to rapid urbanization coupled with increasing disposable income in the emerging economies.
Industry News: In, October 2016 - INEOS, announced to build a new linear alpha olefin plant at its Bayou site. This expansion facility is expected to cost around USD 500 Million, and completion will be done by the end of 2018. With this capacity expansion the company will able to meet the growing demand for alpha olefins across the globe.
Top Global Competitors: Some of the top competitors operating in the Global Alpha Olefins Market are, Qatar Chemical Company Ltd. (Qatar), Royal Dutch Shell plc (Netherlands), Chevron Phillips Chemical Company LLC (U.S.), SABIC (Saudi Arabia), Sasol Ltd. (South Africa), The Dow Chemical Company (U.S.), PJSC Nizhnekamskneftekhim (Russia), Ineos Group Ltd. (U.K), Evonik Industries AG (Germany), and Idemitsu Kosan Co. Ltd. (Japan)
Regional Analysis: Global Alpha Olefins Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Globally, Asia Pacific has emerged as the leading market region for Alpha Olefins followed by North America and Europe. North American alpha olefins market is predicted to witness a tremendous growth on account of high Alpha Olefin consumption to produce synthetic lubricants, increasing production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be a major contributor in the regional growth of alpha olefins market and is expected to see a significant demand for Alpha Olefins during the forecast period, 2017 to 2023. Market Segmentation: The Global Alpha Olefins Market is segmented by application, type, and region. By application, the alpha olefins market is categorized into polyolefin comonomer, plasticizer, lubricant, surfactant, drilling machinery fuel. By type, the market is bifurcated into 1-butene, 1-hexene, 1-octene, 1-decene. By region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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