Alpha Olefin Market To Hit Value $12.58 Billion By 2025 |Grand View Research, Inc.


The global alpha olefin market size is projected to reach USD 11.5 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 4.8% CAGR during the forecast period. Increasing demand for polyethylene and synthetic lubricants is driving demand for these products.
Increasing polyethylene demand from various end-use industries is expected to remain a key driving factor for the global market. Surge in demand can be attributed to its easy processability, versatility, recyclability, and low cost of production. Growing population and increasing consumer spending, coupled with increasing industrial output in emerging markets of China, India, Brazil, and Mexico, have fueled polyethylene consumption.
Growing demand for polyalphaolefin in synthetic lubricants, because of its ability to protect engines from wear and tear damages, is also expected to fuel market growth over the forecast period. Synthetic lubricants exhibit high demand owing to increasing usage in industrial, automotive, marine, and aerospace industries. These lubricants are gaining wide acceptance due to its benefits such as reduction in oil consumption and increased thermal stability.
These companies are setting up manufacturing units in developing countries to take advantage of future opportunities. Some of the key industry participants are Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, and Petrochemicals (Malaysia) Sdn. Bhd. Other manufacturers include INEOS Oligomers, Mitsubishi Chemical Corp., and Qatar Chemical Company Ltd (Q-chem).
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Increasing oilfield activities and petrochemical production in Middle East have propelled ethylene production, thereby assisting the growth of the alpha olefin market in the region. Major manufacturers are also aiming to shift their production base in MEA, owing to the abundant availability of raw material.
Further key findings from the report suggest:
  • By product, the 1-Hexene segment is anticipated to exhibit a revenue-based CAGR of 5.8% from 2019 to 2025. It is used in large quantities in the production of polyethylene, which is used in various end-use industries such as packaging, consumer goods, and automotive
  • By application, polyethylene production dominated the market in terms of revenue, with a share of over 53.0% in 2018 owing to growing need for lightweight, durable plastics. Infrastructural development in emerging countries such as China, India, and Brazil has boosted demand for high-density polyethylene (HDPE) pipes and cables
  • The U.S. alpha olefin market is anticipated to exceed 1,541 kilotons by 2025, owing to abundant availability of raw material, which has spurred industrialization in the country
  • Industry participants are focusing on developing new and sustainable products, along with various R&D activities to fulfill the demand stemming from local markets
  • Some of the key industry participants are Chevron Phillips Chemical Company LLC, Dow Chemical Co., ExxonMobil Corporation, and Petrochemicals (Malaysia) Sdn. Bhd.
Different companies, such as Chevron, Shell, and Phillips, have developed their own manufacturing techniques. Modifications by these producers at different stages of the reaction sequence lead to different product and chain-length of alpha-olefin polymers. Ethylene, which is manufactured using crude oil and naphtha, is the major raw material used in the production of alpha-olefin. Shale gas boom of 2008 in North America led to a dramatic decrease in the cost of industrial energy and feedstock.
Shale rocks can also be used as innovative, inexpensive cracker feed for ethylene production, which has resulted in increased supply levels coupled with lower market pricing. Investments in various cracker joint venture projects along with abundant availability of low-cost ethane from reserves of shale gas in U.S. is projected to boost raw material supply for the production of alpha-olefin. The market is anticipated to witness a stable demand-supply over the forecast period. Key companies, such as INEOS, SASOL, and CPChem, have invested in capacity expansion to help retain the market balance, as well as product prices. However, the market is projected to witness a linear increase in product prices in line with a rise in the cost of ethylene over the forecast period. The prices are normally based on raw material costs and the production technology used. Ethylene prices have been fluctuating in the past and thus a similar trend can be observed with alpha-olefin prices. A decrease in ethylene prices in 2012 on account of the shale gas boom in U.S. has directly affected the product prices.
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1-hexene is expected to emerge as the fastest-growing product segment over the forecast years. Increasing utilization of 1-hexene as a common monomer for manufacturing High-Density Polyethylene (HDPE) and Linear Low-Density Polyethylene (LLDPE) polymers is expected to augment the segment growth. Rising demand for polyethylene on account of growing automotive and consumer goods markets, in the emerging economies of China, India, and Brazil is expected to drive the 1-hexene segment further.
It is also used as an additive in synthetic lubricants, which is expected to further augment market development. Demand for 1-dodecene from industrial and household cleaners and increasing application in the personal care industry will boost this product segment as 1-dodecene is used in the production of detergent alcohols. However, increasing consumption of bio-based detergent alcohols and alkyl aromatics is anticipated to replace 1-dodecene.
Grand View Research has segmented the global alpha olefin market on the basis of product, application:
Alpha Olefin Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
  • 1-Butene
  • 1-Hexene
  • 1-Octene
  • 1-Decene
  • 1-Dodecene
  • Others
Alpha Olefin Application Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
  • Polyethylene
  • Detergent Alcohol
  • Synthetic Lubricant
  • Others
Polyethylene is the major application segment and accounted for around 57% of the market share, in terms of volume, in 2018. Construction is the leading application market for polyethylene compounds. Polyethylene is also used in the packaging sector and for prototype development on Computer Numerical Control (CNC) machines and 3D printers. High-density polyethylene offers easy processing at lower cost, a good moisture barrier, and holds the ability to produce an opaque packaging product.
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 ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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