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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♦ Key Questions Addressed by the Report -
- Who are the major market players in the alpha olefins market?
- What are the regional growth trends and the largest revenue-generating regions for the alpha olefins market?
- Which are the significant regions for different industries that are projected to witness remarkable growth for the alpha olefins market?
- What are the major types of alpha olefins that are projected to gain maximum market revenue and share during the forecast period?
- Which is the major type of source where alpha olefins are used that will be accounting for the majority of the revenue over the forecast period?
♦ Key Market Players -
The key market players profiled in the report include Royal Dutch Shell (The Netherlands), Chevron Phillips Chemical Company (U.S.), Ineos (Switzerland), SABIC (Saudi Arabia), Sasol (South Africa), Evonik Industries (Germany), The Dow Chemical Company (U.S.), ExxonMobil (U.S.), PJSC Nizhnekamskneftekhim (Russia), JAM Petrochemicals Company (Iran), among others. They have adopted various strategies, including expansion, and new product developments & launches.
♦ Market Dynamics
Discovery of shale gas
Alpha olefins are mainly produced by ethylene, naphtha, butane, and natural gas among others. The oligomerization of ethylene is the most commonly used production process for producing a full range of alpha olefins, whereas, ethylene is mainly obtained from ethane, which is obtained from natural gas.
Increasing demand for PAO-based synthetic lubricants
PAOs gained a speedy acceptance as high-performance lubricant as they possess highly desirable characteristics such as high viscosity index, thermal stability, oxidative stability, compatibility with mineral oils, and low toxicity. PAOs not only offer the advantages of technical performance but also maintain the quality of the environment in certain sensitive applications. PAO-based synthetic lubricants offer superior performance in offshore drilling applications that include environmental concerns.
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Growing R&D investments for the development of alpha olefins from different sources
A new concept to produce alpha olefins from biomass is being practiced by various research laboratories and universities. In 2010, researchers at The Center for Biorenewable Chemicals (CBiRC), an NSF-funded Engineering Research Center (U.S.), showcased that the medium chain length free fatty acids can be produced by E. coli using sugars as a carbon source. The research makes use of codon-optimized eukaryotic and prokaryotic enzyme sources. The projects reported 35-40% of the theoretical yields with 2.7 g/L being attained that compares favorably with the recent research reports.
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