Global Linear Alpha Olefin Market to reach $ 11,747.8 million by 2026Download Sample Reports Overview
The linear alpha olefin is predicted to grow at a CAGR of 4.9% by generating a revenue of $11,747.8 million by 2026.
Linear alpha olefin belongs to the family of organic compounds called alkenes, which are denoted by the chemical formula CxH2x. Linear alpha olefin are the alkenes consisting a terminal double bond between the first carbon atom and second carbon atom. Double bond states the chemical properties that can endure all the reactions of an olefin. Linear alpha olefin is used for synthetic lubricants, lubricant additives polyethylene, base oil for synthetic drilling fluids, surfactant intermediates and many others.
Increased polyethylene use and increasing demand of linear alpha olefin in automobile sector is predicted to be the driving factors of liner alpha olefins market. The end products which are extracted by alpha olefin are used by the automobile sector. The automobile sector uses the end product for the maintenance and handling the automobiles spare parts. There are many other products like plasticizer alcohol, detergent alcohol, and polyethylene which have been used by other industries including cosmetic, pharmaceutical, coatings and paper and many more as the raw material for the production of their finished goods are projected to be the major driving factor for the linear alpha olefin market. The manufacturing process of the raw material and the cost involved in production are considered to be the biggest restraints for the alpha olefin market. During the process of manufacturing if anything goes wrong then it can lead to the product defect which can create a huge cost to the company as these manufacturing process requires extreme pressure and temperature. The volatile price of the raw material used in the production can have an adverse effect on the linear alpha olefin industry. So, the cost involved and the manufacturing process is considered to be the biggest restrain for the linear alpha olefin market.
The major companies like CPChem, INEOS and SASOL are increasing their focus on raw material extraction from biodegradable products, which helps in the decrease of raw material extraction and production cost. These factors have been predicted to meet supply demand gap, creating an opportunity in the estimated period.
Depending on the product type, the market is segmented into 1-Octene, 1-Hexene, 1-Butene,1-Decene, 1-Dodecene, and others. 1-Butene is anticipated to have the highest market share of 31.0% in the type segment. 1-Butune is projected to rise with a CAGR of 3.4% which can generate a revenue of $3,242.4 million by 2026. The existence of double bond it makes the compound more suitable and reactive for the several applications. Polyethylene are the being manufactured with use of the 1-Butene. 1-Butene helps to modify the properties of polyethylene which can meet the demand of the various end use industries which is expected to drive the market for the 1-Butene type.
Depending on the application, the market is segmented into synthetic lubricants, detergent alcohol, polyethylene manufacturing and Others. Polyethylene manufacturing holds the major market share of 43% in 2018.Polyethylene manufacturing market was $3,445.2 million in 2018 and is predicted to generate a revenue of $4,909.4 million by 2026. Low-density polyethylene (LDPE) is the end product of the polyethylene. The increasing use of Low-density polyethylene (LDPE), in wires & cables, bottle lid and many more materials, by many industries is expected to drive the market for the polyethylene in the application segment.
Asia-Pacific Liner Alpha Olefins Market Outlook 2026
Asia-Pacific accounted for the highest market growth across the globe. Asia-Pacific accounted for $1,762.7 million in 2018 and is predicted to grow at a CAGR of 6.1% in the estimated period. The rising demand for packaging and plastic molding and injection industries and with the improvement in the polymer technology are predicted to upsurge the market in this region.
Key Market Players in Liner alpha olefins:
- JAM Petrochemicals Company
- Evonik Industries
- Royal Dutch Shell
- Petrochemicals Sdn. Bhd,
- INEOS Oligomers
- Exxon Mobil Corporation
- Chevron Phillips Chemical Company LLC
- Mitsubishi Chemical Corp
- Qatar Chemical Company Ltd (Q-chem).