The linear alpha olefin market is currently valued at $9.51 billion and is anticipated to grow to $15.25 billion by the year 2032, with a CAGR of 4.8% between 2022 and 2032.
Demand for linear alpha olefin is rising as the automobile and oil and gas industries change. Growing demand for diverse chemicals with various types of production procedures in the pharmaceutical and chemical industries is anticipated to catalyse the market. The upkeep of vehicle components is another issue. Technological development is making things worse.
At the same time, it is impossible to disregard the fact that the price of raw materials fluctuates. In the production process, oligomer zing ethylene is also included, and it is doing so in polar phase, which compromises the transition metal catalyst system solution temperature by exceeding the critical pressure and temperature. Any change in the production process or crucial temperature could alter the phase of the process fluid, making it challenging to maintain product quality.
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Keeping the critical pressure and temperature intact could prove to be quite expensive due to higher price of equipment that actually need to be designed such that critical pressure and temperature could be withstood.
The latest discovery over here is that of ‘shale gas’. With cost-effective natural gas-based feedstock available in an aplomb (from North America’s highly productive shale), the demand for linear alpha olefin is expected to keep up the momentum in the forecast period. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Linear Alpha Olefin Market’. It has its team abreast with analysts and consultants to come through.
Key Takeaways from Linear Alpha Olefin Market
- North America holds the largest market share due to the US having a diverse and vast industrial base coupled with expansion of gas & oil infrastructure and petrochemical verticals.
- Coming to the Asia-Pacific, China dominates the linear alpha olefin market. This could be credited to polyalphaolefin being spotlighted. PAOs are created by assembling chains of linear alpha olefins that are derived from ethylene. PAOs are reported to have better oxidative stability and high-temperature wear protection. Coolants and fluids for EV batteries, apart from driveline fluids and greases, could also contain PAOs.
- Europe is expected to show steadiness in the linear alpha olefin market going forward.
Competitive Landscape
- Univation Technologies, in March 2022, inked an agreement with Axens for improving efficiency on the part of production of polyethylene resins and linear alpha olefins.
- ExxonMobil, in March 2022, started working towards rendering its linear alpha olefins plant online. It’s expected to go ‘live’ by 2023.
- Ineos Oligomers makes use of modified Ziegler ethylene chain growth technology for producing linear alpha olefin. The organization produces 1-hexene, 1-octene, 1-decene, Tetradecene, Dodecene, and various other chemicals. SABIC, with the objective of addressing demand for this comonomer, has come up with SABLIN technology for 1-Hexene selective ‘On Purpose’ technology (LAO OP) and LAO plant.
- Chevron Philips Chemical Company announced building a novel viscosity Poly alpha olefin business through a unit in Beringen (Belgium). He production capacity is expected to double by the year 2024 (reach 120K Mt).
“The automobile vertical is bound to drive the demand for linear alpha olefins in the forecast period”, says an analyst from Future Market Insights.
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Key Companies Profiled
- SABIC
- INEOS
- Shell plc
- Chevron Phillips Chemical Company
- Sasol Limited
- Qatar Chemical Company Ltd
- PJSC Nizhnekamskneftekhim
- Jam Petrochemical Company
- GELEST, INC
- Idemitsu Kosan Co., Ltd.
- TPC Group
What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the linear alpha olefin market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on type (Butene – 1, Hexene – 1, Octene – 1, Decene – 1, Dodecene – 1, C14-c18, and C20 & above), by end-use (oil field chemicals, plasticizers, fine chem, lubricants, polyethylene (LLDPE and HDPE), and detergent alcohols).
- Alpha olefins’ major applications include producing polyethylene. Growing demand from plastics vertical to produce polyethylene is expected to take the linear alpha olefin market by storm in the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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