1-Decene Market to Grow with a CAGR of 5.22% through 2028
Growing utilization in various
applications like surfactants and polyethylene sector are factors driving the
Global 1-Decene Market in the forecast period 2024-2028.
According to TechSci Research report, “1-Decene
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global 1-Decene Market stood at USD 954.27 million
in 2022 and is anticipated to grow with a CAGR of 5.22% and is expected to reach USD 1304.78 million by 2028. 1-Decene, categorized as an alkene hydrocarbon, is characterized
by a chain comprising ten carbon atoms with a single double bond. This
substance is a transparent, colorless, and mobile liquid, carrying a pleasant
yet toxic odor. Its production primarily involves the oligomerization of
ethylene or the cracking of petroleum waxes containing higher carbon content.
1-Decene finds extensive utility as a monomer in the production of copolymers
and plays a pivotal role as an intermediate in the manufacturing of oxo
alcohols, epoxides, alkylated aromatics, amines, and synthetic fatty acids. It
is conventionally stored in a nitrogen-enriched environment and boasts
anti-corrosive properties. Consequently, it finds applications across diverse
industries, encompassing perfumery, oils, dye production, pharmaceuticals,
resin formulation, dough dividing machinery, industrial gear systems, automatic
transmission engines, and marine equipment.
The increasing incorporation of 1-decene in poly alpha
olefin (PAO) production is fostering a favorable market outlook. PAO, a
synthetic lubricant, finds widespread application in the automotive and
manufacturing sectors, serving as a key component in transmission, compressor,
lube-oil additives, and gear oils. Furthermore, the growing consumption of
packaged food products is contributing to market growth, as 1-decene is
utilized in the production of polymers like polyethylene for packaging
materials. Additionally, it plays a role as a food additive, glazing agent, and
polishing agent, enhancing its adoption in the food and beverage (F&B)
industry. Moreover, 1-decene serves as a vital chemical intermediate in
detergent and derivative manufacturing, which are integral components of
industrial surfactants. This facilitates its use across various end-use
industries, further bolstering market prospects. Other contributing factors
include increasing consumer spending capacity, declining raw material prices,
and substantial expansion within the automotive industry, all expected to
propel market growth.
Furthermore, 1-decene serves as a prevalent chemical
intermediary in the manufacturing of detergents and their derivatives, which
are subsequently integrated into the production of industrial surfactants. This
integration is streamlining their application across various end-use
industries, consequently fostering a promising market perspective. Moreover,
several factors, including the increasing purchasing power of consumers,
reductions in raw material costs, and substantial growth within the automotive sector,
are expected to propel market expansion.
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Additionally, 1-Decene commonly serves as a primary
raw material in the production of high-performance lubricants within the PAO
industry, specifically catering to the oil & gas sector. Consequently, this
segment is poised to be a key driver of market growth in the coming years.
Furthermore, the increasing need for surfactants as essential chemical
intermediates is expected to further boost the market demand for 1-Decene
throughout the forecast period.
The Global 1-Decene Market is segmented into
application, regional distribution, and company.
Based on application, the poly alpha olefins segment commands
the highest share of revenue.
Poly
alpha olefins (PAOs) offer a host of advantages compared to traditional
lubricants, boasting superior performance in terms of viscosity under both low
and high temperature conditions. They exhibit exceptional chemical and shear
stability and are resistant to various issues like oxidation, thermal
breakdown, and the formation of oil sludge. The lubricants market is witnessing
substantial growth, driven primarily by the escalating demand from critical
sectors such as automotive and manufacturing.
Furthermore, poly alpha olefin is poised to emerge as
the largest and fastest-growing application segment within the market. This is
attributed to PAO's remarkable technical performance and its contribution to
environmental preservation. The increasing adoption of 1-Decene in applications
like transmission oil, compressor oil, gear oil, and lubricating oil additives
is anticipated to propel the growth of the poly alpha olefins (PAO) segment,
particularly in the oil and gas industry.
Additionally, the surfactants segment currently
maintains a dominant position in the 1-decene market. The utilization of
1-Decene as a primary raw material for surfactants is expected to sustain
market expansion in the foreseeable future. Manufacturers of 1-Decene are
actively expanding their production capacities to meet the growing demand
stemming from the surfactant industry.
Based on region, North America took center stage as
the leading contender in the Global 1-Decene Market. North America boasts a
robust industrial presence across diverse sectors, including oil and gas,
petrochemicals, packaging, electronics, automotive, pulp and paper, paints and
coatings, and pharmaceuticals. This region offers significant growth opportunities,
primarily due to the availability of cost-effective raw materials and
advancements in shale gas exploration. In North America, the United States takes
the lead as a prominent producer and consumer in the global 1-Decene market.
The increasing demand for derivatives from various industries such as
automotive and packaging is driving the growth of the 1-Decene market in the
United States. Furthermore, the substantial presence of key industry players
like ExxonMobil Corp., Shell Chemicals, Chevron Phillips Chemical Company LP,
and INEOS Oligomers, who possess patented technologies for alpha olefin
production, has bolstered the demand for 1-Decene in North America.
On the other hand, the Asia Pacific region is poised
to become a significant market in the foreseeable future. This can be
attributed to the growing dishwashing and detergent industry, where detergent
alcohols and related compounds play essential roles as raw materials for
surfactants in laundry and dishwashing applications.
Additionally, the European region is expected to
maintain its prominent position and continue its steady growth trajectory
throughout the forecasted period. This sustained growth can be attributed to
the increasing production of poly alpha olefins (PAO) and synthetic lubricants
by major product manufacturers in the region. Along with this, availability of
raw materials contributes to regional expansion.
Major companies operating in Global 1-Decene Market
are:
- Chevron Phillips
Chemical Company
- Exxon Mobil
Corporation
- Ineos Group Limited
- Idemitsu Kosan
Co.,Ltd
- Shell plc
- PJSC
Nizhnekamskneftekhim
- Saudi Arabia's
Basic Industries Corporation
- Qatar Chemical
Company Ltd.
- Sasol Limited
- Merck KGaA
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“Technological advancements in 1-Decene production are
driving greater efficiency and cost-effectiveness. Innovations such as new
catalysts and process optimization techniques are being developed to enhance
both the yield and purity of 1-Decene. These improvements not only optimize the
production process but also enhance the competitiveness of the 1-Decene market.
Moreover, continual research and development efforts within the 1-Decene market
are focused on both uncovering new applications and enhancing existing
processes. Manufacturers are allocating resources to R&D initiatives with
the goal of identifying fresh applications for 1-Decene and improving its
performance attributes. This proactive approach to innovation is poised to
create new opportunities for the market in the foreseeable future creates a
lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“1-Decene Market By Application (Surfactants, Poly
Alpha Olefins, Polyethylene, Detergent Alcohols, Synthetic Lubricants, Others),
By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global 1-Decene Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global 1-Decene Market.
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