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Alpha Olefins Market Research Report- Forecast to 2030

Global Alpha Olefins Market Research Report– Information by Type (1-Butene, 1-Hexene, 1-Octene, 1-Decene and Others), by Application (Polyolefin Comonomer, Plasticizer, Lubricant, Surfactant, Drilling Machinery Fuel, and Others) and Region- Forecast Till 2030

ID: MRFR/CnM/3448-HCR | February 2021 | Region: Global | 137 pages

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Alpha Olefins Market Overview

The global Alpha Olefins Market is estimated to grow at a CAGR of 6% during the forecast period of 2021 to 2028. The value of the Alpha Olefins Market was USD 8.6 billion in the year 2020. By the year 2028, the Alpha Olefins Market Value is estimated to reach up to USD 13.7 billion.


Alpha Olefins are used as raw materials for varieties of industries. The most important application areas of Alpha Olefins are in the production of synthetic lubricant, production of detergent, refining of crude oil, and extraction of oil and gas. The rise in crude oil is one of the major constraints of this market.


The global market of Alpha Olefins trends shows that there is a consistent demand for Alpha Olefins across different industries. The rapid  increase in the extraction of natural oil and gas, increasing demand for synthetic lubricants for vehicles, and more investments towards Research and development of synthetic polymers have helped in the growth of the  Alpha Olefins Market. Due to the increase in the production and sales of automobiles across the globe, the market of Alpha Olefins Industry is going to achieve very high revenue during the forecast period 2022-2028.


COVID-19 Analysis


The COVID-10 pandemic has affected Alpha Olefins Market negatively across the globe. Due to lockdowns in most of the countries for a significant period, Alpha Olefins Market Growth has suffered negatively. Due to travel restrictions across the globe and strict social distancing measures during this pandemic period, Alpha Olefins Industry has suffered substantial losses. This market has undergone a recovery throughout the second half of 2020.


Market Dynamics


Market Drivers


An important market driver that is expected to increase the Alpha Olefins Market Size is the rising demand from paper industries. Due to the consistent rise in demands for different types of plastics like polypropylene and polyethylene and synthetic lubricants, Alpha Olefins Market is going to grow during the forecast period. As the number of vehicles in every part of the world is increasing consistently, Alpha Olefins are in great demand. As Alpha Olefins are used as synthetic lubricants for the vehicles, it is going to become an important market driver for increasing the Alpha Olefins Market Revenue. 


Restraints


As polyethylene is non-biodegradable, strict environmental regulations are imposed on the Alpha Olefins Industry. This works as a restraint for the growth of Alpha Olefins Market. 


Opportunities


New opportunities are opening up in the Alpha Olefins Market across the globe. There is a consistent rise in the demand for food packaging goods based on Alpha Olefins. The key players are ready to do significant investments in the research and development of Alpha Olefins. As Alpha Olefins have a wide application area such as consumer goods, packaging, industrial process, and others, the market is expected to grow in the coming years. As there is a rapid increase in oil and gas extraction, Alpha Olefins are required to be used as the fuel for drilling machines. Due to more and more exploration activities for oil and gas across the world, Alpha Olefins Market is surely going to rise in the coming years.


Challenges


Implementation of strict environmental regulations has increased the cost of extraction of shale gas. This is going to affect the Alpha Olefins Market negatively. During the projected period 2022-2028, the use of electric cars is expected to rise which may affect the Alpha Olefins Market Growth.


Cumulative Analysis


The global Alpha Olefins Market is expected to have a Compound Annual Growth Rate (CAGR) of 6% during the period study period 2022-2028. The global Alpha Olefins Market Revenue is expected to expand up to USD 13.7 billion by the year 2028.


Value Chain Analysis


The market experts have observed a continuous development in the value chain analysis of the Alpha Olefins Market throughout the world. Due to an increase in automobile production and usage, high demand for detergents, packaging components, and an increase in the extraction and refining of gas and crude oil, the Alpha Olefins Market has achieved high revenue in the past years. As local as well as global companies are taking interest in this industry, more investments are coming in which will help the Alpha Olefins market size to have a steady growth.


Market Segmentations


The Alpha Olefins Market is segmented on the basis of application, type, and region. Based on the type, this market is further divided into 1-Butene, 1-Octene, 1-Hexene, 1-Dodecene, 1-Decene, and others.  In the year 2020, 1-Butene had the maximum Alpha Olefins Market Share across the world which was about 27.9%. 1-Butene is used in the production of polymers. These polymers are used in the packaging sector and this is an important market driver for the growth of the 1-Butene market.


Based on the application, the Alpha Olefins Market is further divided into a lubricant, plasticizer, comonomer, surfactant, drilling machinery fuel, and others. With the increase in numbers of vehicles and extraction of crude oil and natural gas, the demand for Alpha Olefins is expected to be on the rise during the projected period.


Based on the region, the Alpha Olefins Market is divided into North America, Europe, Latin America, Asia Pacific, and Africa & the Middle East. The countries of the Asia Pacific Region are expected to dominate the market during the projected period.


Regional Analysis


The worldwide market of Alpha Olefins is divided into five regions such as Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa. In the coming 2-3 years, the Asia Pacific region is predicted to occupy the maximum share of the Alpha Olefins Market. The presence of many oil and gas reserves in this region will help in providing raw materials for the Alpha Olefins Industry. The increased production of pipes in the countries such as India, Indonesia, China, South Korea, and Japan is going to boost the Alpha Olefins Market.


The demand for Alpha Olefins is going to rise in the countries like Spain, Germany, France, Russia, and the UK because of the increase in income and purchase power of the people.


Due to the high consumption of synthetic lubricants, rise in economic growth, and production capacity, North America is predicted to have growth in the Alpha Olefins Industry.


Competitive Analysis


The global market of Alpha Olefins Industry is continuously developing due to new ventures, adoption of new technologies, and acquisitions and mergers of companies by the key players. The local players are also coming into this industry and adopting measures to compete with the key players. Some of the companies who dominate the global Alpha Olefins Market Share are:



  • Chevron Phillips Chemical Company (U.S.)

  • SABIC (Saudi Arabia)

  • Qatar Chemical Company Ltd. (Qatar)

  • Royal Dutch Shell (the Netherlands)

  • Evonik Industries AG (Germany)

  • Sasol Limited (South Africa)

  • Ineos Group Limited (U.K)

  • The Dow Chemical Company (U.S.)

  • Idemitsu Kosan Co. Ltd. (Japan)


 


Report Overview


The report overview of the Alpha Olefins Industry is given below.



  • Market Overview

  • COVID-19 analysis

  • Dynamics of the market

  • Value chain analysis

  • Market segmentation

  • Regional analysis

  • Competitive analysis

  • Recent development


Report Scope and Segmentation         


The scope of this report is to give important information about the global Alpha Olefins Market during the forecast period 2022 to 2028. This report includes information such as opportunities, challenges, the impact of COVID-19, key players, growth trend, CAGR value, and market segmentation of the Alpha Olefins Market.



  • Study Period-2022-2028

  • Base Year-2022

  • Forecast Period-2022-2028

  • Historical Period-2019-2021


Segmentation


Based on type


  • 1-Butene

  • 1-Octene

  • 1-Hexene

  • 1-Dodecene

  • 1-Decene


Based on application


  • Lubricant

  • Comonomer

  • Surfactant

  • Plasticizer

  • Drilling machinery fuel 


Based on regions


  • Asia Pacific

  • Europe

  • North America

  • Latin America

  • The Middle East & Africa



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   2022-2030: 5.50% CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Royal Dutch Shell plc (the Netherlands), Chevron Phillips Chemical Company LLC (U.S.), Ineos Group Limited (U.K), SABIC (Saudi Arabia), Sasol Limited (South Africa), The Dow Chemical Company (U.S.), PJSC Nizhnekamskneftekhim (Russia), Qatar Chemical Company Ltd. (Qatar), Evonik Industries AG (Germany), and Idemitsu Kosan Co.,Ltd. (Japan) among others.
  Key Market Opportunities   Rapid increase in oil & gas exploration and extraction activities propelling the Alpha Olefins use as drilling machinery fuel
  Key Market Drivers   Rising demand for synthetic lubricants for vehicles, and increasing expenditure on research activities.


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Frequently Asked Questions (FAQ) :

Polyolefin comonomer, plasticizer, lubricant, surfactant, drilling machinery fuel, and others.

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.

Royal Dutch Shell plc (the Netherlands), Chevron Phillips Chemical Company LLC (U.S.), Ineos Group Limited (U.K), SABIC (Saudi Arabia), Sasol Limited (South Africa), The Dow Chemical Company (U.S.), PJSC Nizhnekamskneftekhim (Russia), Qatar Chemical Company Ltd. (Qatar), Evonik Industries AG (Germany), and Idemitsu Kosan Co.,Ltd. (Japan) among others

Rising crude oil refining across the globe is anticipated to be an important driver for Alpha Olefins Market during the review period.

Asia Pacific has emerged as the leading market region for Alpha Olefins

The growth for the forecast period is projected at 7.8%.