Linear Alpha Olefins Market to Grow at Brisk rate during 2019-2024
Growing
demand for poly-alpha-olefins which are used as synthetic lubricants in
automobile engines and polyethylene (used in the packaging industry) to boost
global linear alpha olefins market through 2024
According
to TechSci Research report, “Global Linear
Alpha Olefins Market By Type, By Application, By End Use Industry, By
Region, Competition, Forecast & Opportunities, 2024’’, global linear alpha olefins market is
projected to grow at a steady rate during the forecast period on account of
growing demand for linear alpha olefins in various end user industries due to their
properties such as natural lubricity, high thermal stability and low
volatility. Generally, the use of linear alpha olefins depends upon the size of
the chain, like carbon chain length, from 1-C4 to 1-C8 are preferred for the
production of polyethylene and long chains such as 1-C12 to 1-C14 are used in
the production of detergent and lubricants. Moreover, easy availability of raw
materials that are used for the production of linear alpha olefins is anticipated
to drive global linear alpha olefins market through 2024.
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Linear Alpha Olefins Market"
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The market of linear alpha olefins can
be segmented based on type, application, end use industry and region. Linear
alpha olefins are unsaturated hydrocarbons and based on the type can be
segregated into 1-butene, 1-hexene, 1-octene,1-decene, 1-dodecene and others. In
2018, 1-hexene acquired the major share in the market and the trend is likely
to continue during forecast period as well. This is due to the growing demand
for synthetic lubricants which find application in automobile industry, thereby
driving growth of this segment. Based on the application, demand for Linear
low-density polyethylene (LLDPE) is anticipated to increase in the forthcoming
years due to its low production cost, high clarity and elongation &
softness.
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North America is the one of the major markets
of linear alpha olefins market on account of
the presence of major players in the region and rising demand for linear
alpha olefins from various verticals such as automotive, chemical, consumer,
among others. “Some of the companies operating in the
linear alpha olefins market include Royal Dutch Shell Plc., Sasol Limited,
Qatar Chemical Company Ltd (Q-Chem), Chevron Phillips Chemical Company, The Dow
Chemical Company, Idemitsu Kosan Co.Ltd, The Linde Group, Exxon Mobil
Corporation, INEOS Oligomers, among others. Players operating in the market are
focusing on maintaining relationship with raw material suppliers and product
development in order to register growth in the market.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Linear Alpha Olefins Market By Type, By
Application, By End Use Industry, By Region, Competition, Forecast &
Opportunities, 2024” has evaluated the future growth potential of global linear alpha
olefins market and provides statistics and information on market size,
structure and future market growth. The report offers decision makers superior
market intelligence, thereby enabling them conduct thorough investment
appraisal. Besides, the report also analyzes the evolving market
trends along with drivers, challenges and opportunities in global linear alpha
olefins market.
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