PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1324304
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1324304
Alpha Olefins Market Forecasts to 2030 - Global Analysis By Type (1-Hexene, 1-Octene, 1-Butene, 1-Octadecene, 1-Hexadecene, 1-Tetradecene, 1-Dodecene, 1-Decene and Other Types), Application and By Geography
According to Stratistics MRC, the Global Alpha Olefins Market is accounted for $7.1 billion in 2023 and is expected to reach $12.1 billion by 2030 growing at a CAGR of 8% during the forecast period. Olefins are hydrocarbons with one or more double bonds between two adjacent carbon atoms, which are known as alkenes. Chemical formula for olefins or alkenes is CnH2n, that's why it is known as alpha olefins. It can be identified from other mono-olefins. It is primarily used in the production of polyethylene, lubricants, detergents, plasticizers, oil field chemicals, and fine chemicals.
According to the Packaging Industry Association of India (PIAI), the packaging industry is currently the fifth-largest economic sector in India. It is growing at a rate of 22-25% per year, making India a preferred hub for the packaging industry.
Market Dynamics:
Driver:
Growing investments in R&D for the development of alpha olefins from different sources
Several important variables contribute to the rising research and development (R&D) spending for the creation of alpha olefins derived from various sources. The rising demand for environmentally friendly and sustainable chemical production is one such driver. It is important to look into alternative feedstocks and production techniques that reduce dependency on fossil fuels and have a minimal negative impact on the environment as concerns about climate change and resource depletion grow.
Restraint:
Highly volatile prices of raw materials
The market for alpha olefins faces enormous challenges as a result of the high price volatility of raw materials. Changes in the price of crude oil or natural gas, the main feedstocks, bring uncertainty and pressure on prices for producers. These price swings may have an immediate effect on the profitability, competitiveness, and cost of production. A manufacturer's inability to predict costs and prices accurately may make it difficult to manage the supply chain and maintain favorable relationships with clients.
Opportunity:
A natural gas-based feedstock is widely available and affordable in North America
North America has become a competitive market for petrochemical investment and production due to the quantity of natural gas feedstock. The construction of new petrochemical facilities, the expansion of existing plants, and the growth of downstream sectors have all benefited from considerable investments attracted by the availability of low-cost feedstock paired with advanced manufacturing capabilities and infrastructure. For the manufacturing of a variety of petrochemicals, including alpha olefins, natural gas is a vital feedstock. Ethane, a significant component of natural gas, can be cracked to produce ethylene, which serves as the main feedstock for the synthesis of alpha olefins.
Threat:
Stringent government regulations pertaining to plastic products
To save the environment and avoid health risks, governments around the world have enacted strict rules regarding the use of conventional plastics. For instance, due to their detrimental impact on human health and the environment, plastics have been prohibited or restricted in some applications. Additionally, a number of countries want to encourage the use of sustainable and biodegradable plastics and raise consumer demand for environmentally friendly products.
COVID-19 Impact:
Due to the COVID-19 pandemic's impact on hygiene awareness, the country saw a sharp rise in the use of soap and detergent. The majority of the countries' protracted lockdowns have hampered the expansion of the alpha-olefins market. The demand from end-use sectors, such as automotive, chemical, appliance, packaging, and others, directly relates to the sales of alpha olefins. The COVID-19 pandemic's import-export restrictions, restricted borders, and supply chain interruptions, however, had a significant impact on the demand for alpha olefins in the chemicals industry.
The 1-Butene segment is expected to be the largest during the forecast period
The 1-butene segment is anticipated to hold the largest market share during the course of the projection period, as polyethylene and polypropylene are two of the main building blocks in the petrochemical sector. Additionally, 1-butene is used as a precursor in the synthesis of a number of different chemical intermediates. It is capable of being transformed into butadiene, a crucial monomer utilized in the creation of synthetic rubbers, elastomers, and plastics. It is also used to create 1,3-butadiene, which is then converted into adiponitrile, a precursor to the manufacture of nylon.
The polyolefins comonomer segment is expected to have the highest CAGR during the forecast period
Polyolefins Comonomer segment is expected to have lucrative growth over the projected period. The characteristics of polyethylene and polypropylene can be customized to fulfill the requirements of certain applications by using polyolefin comonomers. As a result of the varied impact that various comonomers, such as 1-butene, 1-hexene, and 1-octene, have on polymer properties, producers are able to produce a large variety of polyolefin grades with various qualities. Due to their adaptability, materials can be customized and optimized for use in a variety of industries, including packaging, automotive, construction, and consumer goods.
Region with largest share:
Due to the broad and diversified industrial base, North America is anticipated to hold the largest share during the forecast period. The presence of numerous manufacturing businesses, along with an increase in petrochemical and infrastructural expansions for gas and oil, are expected to fuel regional market growth. Additionally, due to its extensive natural resource reserves, North America has been recognized as a potential investment hub for the production of alpha olefins by both domestic and foreign businesses.
Region with highest CAGR:
The market for alpha olefins in the Asia-Pacific region is expected to rise due to the region's rapid industrialization, economic expansion, expanding infrastructure development, rising demand for polyethylene, and booming auto sector. Additionally, alpha olefins are utilized in many different applications, such as packaging, construction materials, automotive components, and synthetic lubricants, and there is a substantial demand for them due to the region's strong manufacturing sectors, expanding consumer population, and infrastructure developments.
Key players in the market:
Some of the key players in Alpha Olefins market include: Sasol, SABIC, Shell plc, Qatar Chemical Company Ltd, LANXESS, Kemipex, INEOS, Idemitsu Kosan Co., Ltd., Evonik Industries AG, Exxon Mobil Corporation and Chevron Phillips Chemical Company LLC.
Key Developments:
In February 2023, Chevron Phillips Chemical (CPChem) and Charter Next Generation (CNG) announced that overwrap film made with CPChem's Marlex® Anew™ Circular Polyethylene is bound for store shelves in the US. Versatile and efficient overwrap films help preserve food, keep medical instruments secure and sterile, and provide lightweight and durable product packaging. Alpha olefins are mostly consumed to manufacture polyethylene.
In April 2022, Shell Chemical won approval from the state Board of Commerce and Industry for an Industrial Tax Exemption Program break for their USD 1.4 billion project, which the company says will create a "world scale" linear alpha olefin plant at the Geismar facility. Linear alpha olefins are used to make detergents, waxes, plastics, and premium lubricants.
Types Covered:
- 1-Hexene
- 1-Octene
- 1-Butene
- 1-Octadecene
- 1-Hexadecene
- 1-Tetradecene
- 1-Dodecene
- 1-Decene
- Other Types
Applications Covered:
- Polyolefins Comonomer
- Surfactants and Intermediates
- Lubricants
- Fine Chemicals
- Plasticizer
- Oil Field Chemicals
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Alpha Olefins Market, By Type
- 5.1 Introduction
- 5.2 1-Hexene
- 5.3 1-Octene
- 5.4 1-Butene
- 5.5 1-Octadecene
- 5.6 1-Hexadecene
- 5.7 1-Tetradecene
- 5.8 1-Dodecene
- 5.9 1-Decene
- 5.10 Other Types
6 Global Alpha Olefins Market, By Application
- 6.1 Introduction
- 6.2 Polyolefins Comonomer
- 6.3 Surfactants and Intermediates
- 6.4 Lubricants
- 6.5 Fine Chemicals
- 6.6 Plasticizer
- 6.7 Oil Field Chemicals
- 6.8 Other Applications
7 Global Alpha Olefins Market, By Geography
- 7.1 Introduction
- 7.2 North America
- 7.2.1 US
- 7.2.2 Canada
- 7.2.3 Mexico
- 7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 Italy
- 7.3.4 France
- 7.3.5 Spain
- 7.3.6 Rest of Europe
- 7.4 Asia Pacific
- 7.4.1 Japan
- 7.4.2 China
- 7.4.3 India
- 7.4.4 Australia
- 7.4.5 New Zealand
- 7.4.6 South Korea
- 7.4.7 Rest of Asia Pacific
- 7.5 South America
- 7.5.1 Argentina
- 7.5.2 Brazil
- 7.5.3 Chile
- 7.5.4 Rest of South America
- 7.6 Middle East & Africa
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 Qatar
- 7.6.4 South Africa
- 7.6.5 Rest of Middle East & Africa
8 Key Developments
- 8.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 8.2 Acquisitions & Mergers
- 8.3 New Product Launch
- 8.4 Expansions
- 8.5 Other Key Strategies
9 Company Profiling
- 9.1 Sasol
- 9.2 SABIC
- 9.3 Shell plc
- 9.4 Qatar Chemical Company Ltd
- 9.5 LANXESS
- 9.6 Kemipex
- 9.7 INEOS
- 9.8 Idemitsu Kosan Co., Ltd.
- 9.9 Evonik Industries AG
- 9.10 Exxon Mobil Corporation
- 9.11 Chevron Phillips Chemical Company LLC
List of Tables
- Table 1 Global Alpha Olefins Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Alpha Olefins Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Alpha Olefins Market Outlook, By 1-Hexene (2021-2030) ($MN)
- Table 4 Global Alpha Olefins Market Outlook, By 1-Octene (2021-2030) ($MN)
- Table 5 Global Alpha Olefins Market Outlook, By 1-Butene (2021-2030) ($MN)
- Table 6 Global Alpha Olefins Market Outlook, By 1-Octadecene (2021-2030) ($MN)
- Table 7 Global Alpha Olefins Market Outlook, By 1-Hexadecene (2021-2030) ($MN)
- Table 8 Global Alpha Olefins Market Outlook, By 1-Tetradecene (2021-2030) ($MN)
- Table 9 Global Alpha Olefins Market Outlook, By 1-Dodecene (2021-2030) ($MN)
- Table 10 Global Alpha Olefins Market Outlook, By 1-Decene (2021-2030) ($MN)
- Table 11 Global Alpha Olefins Market Outlook, By Other Types (2021-2030) ($MN)
- Table 12 Global Alpha Olefins Market Outlook, By Application (2021-2030) ($MN)
- Table 13 Global Alpha Olefins Market Outlook, By Polyolefins Comonomer (2021-2030) ($MN)
- Table 14 Global Alpha Olefins Market Outlook, By Surfactants and Intermediates (2021-2030) ($MN)
- Table 15 Global Alpha Olefins Market Outlook, By Lubricants (2021-2030) ($MN)
- Table 16 Global Alpha Olefins Market Outlook, By Fine Chemicals (2021-2030) ($MN)
- Table 17 Global Alpha Olefins Market Outlook, By Plasticizer (2021-2030) ($MN)
- Table 18 Global Alpha Olefins Market Outlook, By Oil Field Chemicals (2021-2030) ($MN)
- Table 19 Global Alpha Olefins Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 20 North America Alpha Olefins Market Outlook, By Country (2021-2030) ($MN)
- Table 21 North America Alpha Olefins Market Outlook, By Type (2021-2030) ($MN)
- Table 22 North America Alpha Olefins Market Outlook, By 1-Hexene (2021-2030) ($MN)
- Table 23 North America Alpha Olefins Market Outlook, By 1-Octene (2021-2030) ($MN)
- Table 24 North America Alpha Olefins Market Outlook, By 1-Butene (2021-2030) ($MN)
- Table 25 North America Alpha Olefins Market Outlook, By 1-Octadecene (2021-2030) ($MN)
- Table 26 North America Alpha Olefins Market Outlook, By 1-Hexadecene (2021-2030) ($MN)
- Table 27 North America Alpha Olefins Market Outlook, By 1-Tetradecene (2021-2030) ($MN)
- Table 28 North America Alpha Olefins Market Outlook, By 1-Dodecene (2021-2030) ($MN)
- Table 29 North America Alpha Olefins Market Outlook, By 1-Decene (2021-2030) ($MN)
- Table 30 North America Alpha Olefins Market Outlook, By Other Types (2021-2030) ($MN)
- Table 31 North America Alpha Olefins Market Outlook, By Application (2021-2030) ($MN)
- Table 32 North America Alpha Olefins Market Outlook, By Polyolefins Comonomer (2021-2030) ($MN)
- Table 33 North America Alpha Olefins Market Outlook, By Surfactants and Intermediates (2021-2030) ($MN)
- Table 34 North America Alpha Olefins Market Outlook, By Lubricants (2021-2030) ($MN)
- Table 35 North America Alpha Olefins Market Outlook, By Fine Chemicals (2021-2030) ($MN)
- Table 36 North America Alpha Olefins Market Outlook, By Plasticizer (2021-2030) ($MN)
- Table 37 North America Alpha Olefins Market Outlook, By Oil Field Chemicals (2021-2030) ($MN)
- Table 38 North America Alpha Olefins Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 39 Europe Alpha Olefins Market Outlook, By Country (2021-2030) ($MN)
- Table 40 Europe Alpha Olefins Market Outlook, By Type (2021-2030) ($MN)
- Table 41 Europe Alpha Olefins Market Outlook, By 1-Hexene (2021-2030) ($MN)
- Table 42 Europe Alpha Olefins Market Outlook, By 1-Octene (2021-2030) ($MN)
- Table 43 Europe Alpha Olefins Market Outlook, By 1-Butene (2021-2030) ($MN)
- Table 44 Europe Alpha Olefins Market Outlook, By 1-Octadecene (2021-2030) ($MN)
- Table 45 Europe Alpha Olefins Market Outlook, By 1-Hexadecene (2021-2030) ($MN)
- Table 46 Europe Alpha Olefins Market Outlook, By 1-Tetradecene (2021-2030) ($MN)
- Table 47 Europe Alpha Olefins Market Outlook, By 1-Dodecene (2021-2030) ($MN)
- Table 48 Europe Alpha Olefins Market Outlook, By 1-Decene (2021-2030) ($MN)
- Table 49 Europe Alpha Olefins Market Outlook, By Other Types (2021-2030) ($MN)
- Table 50 Europe Alpha Olefins Market Outlook, By Application (2021-2030) ($MN)
- Table 51 Europe Alpha Olefins Market Outlook, By Polyolefins Comonomer (2021-2030) ($MN)
- Table 52 Europe Alpha Olefins Market Outlook, By Surfactants and Intermediates (2021-2030) ($MN)
- Table 53 Europe Alpha Olefins Market Outlook, By Lubricants (2021-2030) ($MN)
- Table 54 Europe Alpha Olefins Market Outlook, By Fine Chemicals (2021-2030) ($MN)
- Table 55 Europe Alpha Olefins Market Outlook, By Plasticizer (2021-2030) ($MN)
- Table 56 Europe Alpha Olefins Market Outlook, By Oil Field Chemicals (2021-2030) ($MN)
- Table 57 Europe Alpha Olefins Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 58 Asia Pacific Alpha Olefins Market Outlook, By Country (2021-2030) ($MN)
- Table 59 Asia Pacific Alpha Olefins Market Outlook, By Type (2021-2030) ($MN)
- Table 60 Asia Pacific Alpha Olefins Market Outlook, By 1-Hexene (2021-2030) ($MN)
- Table 61 Asia Pacific Alpha Olefins Market Outlook, By 1-Octene (2021-2030) ($MN)
- Table 62 Asia Pacific Alpha Olefins Market Outlook, By 1-Butene (2021-2030) ($MN)
- Table 63 Asia Pacific Alpha Olefins Market Outlook, By 1-Octadecene (2021-2030) ($MN)
- Table 64 Asia Pacific Alpha Olefins Market Outlook, By 1-Hexadecene (2021-2030) ($MN)
- Table 65 Asia Pacific Alpha Olefins Market Outlook, By 1-Tetradecene (2021-2030) ($MN)
- Table 66 Asia Pacific Alpha Olefins Market Outlook, By 1-Dodecene (2021-2030) ($MN)
- Table 67 Asia Pacific Alpha Olefins Market Outlook, By 1-Decene (2021-2030) ($MN)
- Table 68 Asia Pacific Alpha Olefins Market Outlook, By Other Types (2021-2030) ($MN)
- Table 69 Asia Pacific Alpha Olefins Market Outlook, By Application (2021-2030) ($MN)
- Table 70 Asia Pacific Alpha Olefins Market Outlook, By Polyolefins Comonomer (2021-2030) ($MN)
- Table 71 Asia Pacific Alpha Olefins Market Outlook, By Surfactants and Intermediates (2021-2030) ($MN)
- Table 72 Asia Pacific Alpha Olefins Market Outlook, By Lubricants (2021-2030) ($MN)
- Table 73 Asia Pacific Alpha Olefins Market Outlook, By Fine Chemicals (2021-2030) ($MN)
- Table 74 Asia Pacific Alpha Olefins Market Outlook, By Plasticizer (2021-2030) ($MN)
- Table 75 Asia Pacific Alpha Olefins Market Outlook, By Oil Field Chemicals (2021-2030) ($MN)
- Table 76 Asia Pacific Alpha Olefins Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 77 South America Alpha Olefins Market Outlook, By Country (2021-2030) ($MN)
- Table 78 South America Alpha Olefins Market Outlook, By Type (2021-2030) ($MN)
- Table 79 South America Alpha Olefins Market Outlook, By 1-Hexene (2021-2030) ($MN)
- Table 80 South America Alpha Olefins Market Outlook, By 1-Octene (2021-2030) ($MN)
- Table 81 South America Alpha Olefins Market Outlook, By 1-Butene (2021-2030) ($MN)
- Table 82 South America Alpha Olefins Market Outlook, By 1-Octadecene (2021-2030) ($MN)
- Table 83 South America Alpha Olefins Market Outlook, By 1-Hexadecene (2021-2030) ($MN)
- Table 84 South America Alpha Olefins Market Outlook, By 1-Tetradecene (2021-2030) ($MN)
- Table 85 South America Alpha Olefins Market Outlook, By 1-Dodecene (2021-2030) ($MN)
- Table 86 South America Alpha Olefins Market Outlook, By 1-Decene (2021-2030) ($MN)
- Table 87 South America Alpha Olefins Market Outlook, By Other Types (2021-2030) ($MN)
- Table 88 South America Alpha Olefins Market Outlook, By Application (2021-2030) ($MN)
- Table 89 South America Alpha Olefins Market Outlook, By Polyolefins Comonomer (2021-2030) ($MN)
- Table 90 South America Alpha Olefins Market Outlook, By Surfactants and Intermediates (2021-2030) ($MN)
- Table 91 South America Alpha Olefins Market Outlook, By Lubricants (2021-2030) ($MN)
- Table 92 South America Alpha Olefins Market Outlook, By Fine Chemicals (2021-2030) ($MN)
- Table 93 South America Alpha Olefins Market Outlook, By Plasticizer (2021-2030) ($MN)
- Table 94 South America Alpha Olefins Market Outlook, By Oil Field Chemicals (2021-2030) ($MN)
- Table 95 South America Alpha Olefins Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 96 Middle East & Africa Alpha Olefins Market Outlook, By Country (2021-2030) ($MN)
- Table 97 Middle East & Africa Alpha Olefins Market Outlook, By Type (2021-2030) ($MN)
- Table 98 Middle East & Africa Alpha Olefins Market Outlook, By 1-Hexene (2021-2030) ($MN)
- Table 99 Middle East & Africa Alpha Olefins Market Outlook, By 1-Octene (2021-2030) ($MN)
- Table 100 Middle East & Africa Alpha Olefins Market Outlook, By 1-Butene (2021-2030) ($MN)
- Table 101 Middle East & Africa Alpha Olefins Market Outlook, By 1-Octadecene (2021-2030) ($MN)
- Table 102 Middle East & Africa Alpha Olefins Market Outlook, By 1-Hexadecene (2021-2030) ($MN)
- Table 103 Middle East & Africa Alpha Olefins Market Outlook, By 1-Tetradecene (2021-2030) ($MN)
- Table 104 Middle East & Africa Alpha Olefins Market Outlook, By 1-Dodecene (2021-2030) ($MN)
- Table 105 Middle East & Africa Alpha Olefins Market Outlook, By 1-Decene (2021-2030) ($MN)
- Table 106 Middle East & Africa Alpha Olefins Market Outlook, By Other Types (2021-2030) ($MN)
- Table 107 Middle East & Africa Alpha Olefins Market Outlook, By Application (2021-2030) ($MN)
- Table 108 Middle East & Africa Alpha Olefins Market Outlook, By Polyolefins Comonomer (2021-2030) ($MN)
- Table 109 Middle East & Africa Alpha Olefins Market Outlook, By Surfactants and Intermediates (2021-2030) ($MN)
- Table 110 Middle East & Africa Alpha Olefins Market Outlook, By Lubricants (2021-2030) ($MN)
- Table 111 Middle East & Africa Alpha Olefins Market Outlook, By Fine Chemicals (2021-2030) ($MN)
- Table 112 Middle East & Africa Alpha Olefins Market Outlook, By Plasticizer (2021-2030) ($MN)
- Table 113 Middle East & Africa Alpha Olefins Market Outlook, By Oil Field Chemicals (2021-2030) ($MN)
- Table 114 Middle East & Africa Alpha Olefins Market Outlook, By Other Applications (2021-2030) ($MN)
