Based on a research report by Grand
View Research, Inc.; the global Alpha Olefins Market is anticipated to achieve
USD 12.58 billion by 2025. The market is anticipated to grow at a CAGR of 4.8%
over the forecast period (from 2017 to 2025). Alpha olefins do not have any
toxic effect on animal or human population. Favorable regulations in presence of
Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH)
and the United States Environmental Protection Agency (US EPA)
are predicted to contribute toward the global market expansion. Moreover,
regulatory support for the development of bio-based alpha olefin is also
predicted to propel the global market during the estimated period.
On the other hand, stringent rules and
regulations applied by various governments across the world regarding the usage
of polyethylene—the biggest application segment for alpha olefins—are likely to
pose a challenge for the market development. However, the global market is
expected to witness a balanced supply and demand over the next few years.
Recent capacity additions by various international industry participants such
as SASOL, CPChem, and INEOS are predicted to help retain balance of alpha
olefins market thereby keeping a check on costs. The global market is
anticipated to exhibit a linear rise in product costs in line with the increase
in ethylene prices during the next few years. Moreover, a rise in the demand
for polyalphaolefin in the synthetic lubricants sector due to decreased engine
wear and tears is also predicted to fuel the overall market expansion in near
future.
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Report On Alpha Olefins Market Analysis: https://www.grandviewresearch.com/industry-analysis/alpha-olefins-market
The global alpha olefins market is
categorized as per product, application, and region. On the basis of product,
the market is segmented as 1-Dodecene, 1-Butene, 1-Octene, 1-Hexene, 1-Decene,
and others. On the basis of application, the market is segregated as synthetic
alcohol, synthetic lubricants, polyethylene, and others. On the basis of
geographies, the market is divided into North America, Middle East and Africa
(MEA), Central and South America, and Europe.
North America led the global alpha
olefin market in the past in terms of demand and total revenue share. Rising
activities like oil drilling along with capacity expansion by prominent
companies are considered the key factors responsible for the regional growth.
Factors such as easy availability of raw materials in Mexico and US and the
strong presence of many leading industry players in the region are estimated to
spur the North America regional market. Many international companies are
focusing on further expanding their presence in the region to meet the
increased product demand; this is also likely to help boost the region’s
development over the coming years. In addition, declining costs of ethane has
boosted the development of new ethane crackers in US and this is likely to
provide huge opportunity for the production of alpha olefin.
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On the other hand, APAC is likely to
be the fastest-growing regional market during the next few years. Rising demand
for polyethylene, due to a rapid growth of the consumer goods and automobile
industries in countries like India and China, is projected to fuel the product
demand in the region thereby boosting the market growth. In addition, rapidly
growing g end user application sectors in the Asia Pacific region are said to
boost the overall product demands in the region over the forecast years.
However, the Europe regional market for alpha olefins is said to exhibit a
decline in the petrochemicals sector as a number of ethylene plants are
becoming uneconomic.
Some of the top companies in the
worldwide alpha olefins market are Sierra Nevada Corp.; GomSpace Group AB;
Innovative Solutions in Space B.V. (ISIS); Dauria Aerospace; and GomSpace Group
AB. Business expansion and mergers & acquisitions (M&A) activities are
the major strategies followed by most companies. In the recent past, Badlands
NGLs, LLC declared the completion and development of their Gulf Coast merchant
alpha olefins production plant. According to the company, this plant will
manufacture the polyethylene co-monomers 1-hexene and 1-butene with a proprietary
technology of ethylene metathesis.
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About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
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