The Oil Field Chemicals Application is Projected to Register the Highest CAGR in the Alpha Olefins Market during the Forecast Period

The Alpha Olefins Market is projected to grow from USD 9.3 billion in 2017 to reach USD 13.5 billion by 2022, at a compound annual growth rate (CAGR) of 7.8% during the forecast period. The market is driven by the growing demand for automobiles & plastics and the growth of the major application segments such as polyolefin co-monomers, surfactants and intermediates, and lubricants.

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The alpha olefins market is characterized by the presence of players such as Chevron Phillips (US), Shell (Netherlands), Ineos (Switzerland), Sasol (South Africa), SABIC (Saudi Arabia), Evonik (Germany), ExxonMobil (US), Dow Chemical (US), Qatar Chemical Company Ltd (Qatar), and PJSC Nizhnekamskneftekhim (Russia), among others.

Market Segmentation, by Application:

• Polyolefin Co-monomers
• Surfactants and Intermediates
• Lubricants
• Fine Chemicals
• Plasticizers
• Oil Field Chemicals
• Others

Growth of the automobile and packaging industries in the Asia-Pacific is also expected to lead to the growth of the alpha olefins market. Additionally, factors such as increasing population, higher disposable incomes, higher standards of living, rising consumption of packaged food, and increasing automobile manufacturing facilities are also expected to contribute to its growth in the region.

Most of these companies are leaders in the alpha olefins market and are focusing on capturing the full value chain to achieve economies of scale and product innovations in order to strengthen their market shares.

Market players are concentrating on expanding their product portfolios and developing cost-effective technologies. The companies are investing in establishing new facilities mainly in emerging regions so as to increase their global reach. These developments are being undertaken to meet the increasing demand for alpha olefins for various applications.

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Shell (The Netherlands) is amongst the leading suppliers of alpha olefins. The company adopted expansions as a strategy to maintain its premium position in the market. For instance, in November 2015, it expanded its production capacity at its chemical manufacturing site in Louisiana (US). Similarly, in March 2015, it also invested at its Wesseling (Germany) plant to upgrade the steam cracking unit to produce heavy olefins and aromatics.

Chevron Phillips (US) also adopted the expansions strategy to sustain its premium market position. For instance, in December 2014, it expanded its ethylene business by increasing production capacity at its manufacturing facility in Texas. This expansion helped the company in supporting the growth of its olefins business.

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