Alpha Olefins Market Size Worth $10.7 Billion by 2020: Radiant Insights, Inc.
SAN FRANCISCO, CA--(Marketwired - Nov 9, 2015) - Global Alpha Olefins Market size is likely to be valued at USD 10.7 billion by 2020; as per a new research report by Radiant Insights, Inc. Increasing polyethylene demand for use in plastic production is anticipated to drive market growth. Growing application scope of protective films agriculture for reduction in soil erosion and UV rays protection is likely to favor demand. Increase in poly-alpha-olefin demand for manufacturing synthetic lubricants to act against engine's wear & tear is likely to support market growth.
Increase in synthetic oil demand for oilfield exploration & production (E&P) and drilling is anticipated to drive growth. Volatile prices observed in key raw materials that include ethylene along with regulations to curb carbon emissions is likely to challenge industry growth. Increasing investments to develop bio-based alpha olefins is anticipated to provide new avenues for market growth.
1-hexene was the largely consumed product segment and accounted for more than 23% of the market share in 2013. 1-hexene is likely to witness highest gains up to 2020 owing to its major use in manufacturing HDPE and LLDPE polymers. 1-butene is anticipated to witness average gains at an estimated CAGR of 4.3% from 2014 to 2020.
Browse Full Research Report With TOC On "Alpha Olefin Market Size, Share, Research Report 2020" at: http://www.radiantinsights.com/research/alpha-olefins-market
Key report insights suggest:
Global alpha olefin market size was estimated 3.82 million tons in 2013 and may register 5.16 million tons by 2020 growing with an estimated CAGR of 4.4% from 2014 to 2020.
Polyethylene dominated the application segment and accounted for 61.6% of the total volume in 2013 and is also expected to witness highest growth rates. Increasing plastics demand in packaging and consumers goods is likely to favor alpha olefin market growth. Synthetic lubricants are likely to gain below average growth rates with an estimated CAGR of 2.5% up to 2020.
North America dominated the regional market and accounted for 43.5% of the total volume in 2013. Capacity expansion coupled with increasing oilfield E&P activities in the U.S. is likely to favor demand. Asia Pacific is likely to witness highest gains at an estimated CAGR of 6.6% from 2014 to 2020.
The market is moderately consolidated and top four companies accounts for over 60% of the total share with major players concentrated in Middle East and U.S. Key companies include Shell Chemicals, Sasol, Ineos Oligomers, Mitsubishi Chemicals, Chevron Phillips, Evonik, Qatar Chemical, Exxon Mobill and Saudi Industries Basic Corp.
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Global Alpha Olefin Product Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
1-Butene
1-hexene
1-Octene
Others
Global Alpha Olefin Application Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
Polyethylene
Linear Low Density Polyethylene (LLDPE)
High Density Polyethylene (HDPE)
Synthetic Lubricant
Others
Global Alpha Olefin Regional Overview (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
North America
Europe
Asia Pacific
RoW
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