The global alpha olefins market outlook is anticipated to reach $8,172.3 million by 2031, growing from $4,062.2 million in 2021, at a CAGR of 7.5% from 2022 to 2031.
The term olefin simply refers to the family of chemical compounds known as alkenes, all of which include the double-bond functional group. The family of unbranched alkenes known as linear alpha olefins has double bonds on the first or alpha carbon atom in their carbon chains. Alfa olefins are extremely versatile and can be used for a variety of consumer and industrial goods. The alpha olefins compounds are most frequently used as co-monomers in the creation of different polymers, in the manufacturing of surfactants, and the development of synthetic lubricants. These uses account for approximately 84% of alpha-olefins usage across the world. Other uses of alpha-olefins include drilling applications, plasticizing agents, lubricants, pulp and paper, and synthetic acid. These factors are anticipated to drive the alpha olefins market growth.
The alpha olefins market is facing a significant challenge from relatively low-cost group III lubricants and developing gas-to-liquid technology. Also, the alpha olefins industry is subject to stringent environmental laws since polyethylene cannot biodegrade. These factors are projected to hamper the alpha olefins market growth during the forecast period.
Poly alpha olefins are natural polymers of linear alpha olefins used as base stocks in synthetic lubricants for automotive and industrial uses. Synthetic base stocks offer better performance when compared with conventional mineral base stock. When compared to mineral base stocks, a variety of factors including kinematic viscosity and viscosity index pour point, and flash and auto-ignition points, are superior to mineral base lubricant. In addition, poly alpha olefins based synthetic lubricants also have a variety of specialized uses in the military, polymer industries, food-grade applications, cosmetics, refrigeration, textile, dielectric fluids, brake fluids, shock absorption, and other fields. Synthetic lubricants are not much expensive when compared with traditional mineral oils. To meet the ever-increasing standards for health, safety, and the environment, users are being forced to switch from mineral base stocks to poly alpha olefins that are superior in terms of various physicochemical properties. Factors such as performance, the toxicity of the current lubricating fluids, reduced wear & tear and maintenance of the machinery, minimization of disposal issues, and others. These factors are anticipated to boost the alpha olefins market share in the upcoming years.
The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were at a standstill. There were import-export restrictions laid down on major alpha olefins producing countries such as the U. S. and China, which imposed significant challenges on the market. On April 14,2021, CNOOC Oil & Petrochemicals Co., Ltd (CNOOC) and Shell launched new units through their 50:50 joint venture, to deliver critical petrochemicals to the Chinese market.
The key players profiled in the report include Qatar Chemical Company Ltd (Q-chem)., Chevron Phillips Chemical Company LLC, Mitsubishi Chemical Corp, Exxon Mobil Corporation, INEOS Oligomers, Petrochemicals Sdn. Bhd, Royal Dutch Shell, Evonik Industries, and JAM Petrochemicals Company.
The term olefin simply refers to the family of chemical compounds known as alkenes, all of which include the double-bond functional group. The family of unbranched alkenes known as linear alpha olefins has double bonds on the first or alpha carbon atom in their carbon chains. Alfa olefins are extremely versatile and can be used for a variety of consumer and industrial goods. The alpha olefins compounds are most frequently used as co-monomers in the creation of different polymers, in the manufacturing of surfactants, and the development of synthetic lubricants. These uses account for approximately 84% of alpha-olefins usage across the world. Other uses of alpha-olefins include drilling applications, plasticizing agents, lubricants, pulp and paper, and synthetic acid. These factors are anticipated to drive the alpha olefins market growth.
The alpha olefins market is facing a significant challenge from relatively low-cost group III lubricants and developing gas-to-liquid technology. Also, the alpha olefins industry is subject to stringent environmental laws since polyethylene cannot biodegrade. These factors are projected to hamper the alpha olefins market growth during the forecast period.
Poly alpha olefins are natural polymers of linear alpha olefins used as base stocks in synthetic lubricants for automotive and industrial uses. Synthetic base stocks offer better performance when compared with conventional mineral base stock. When compared to mineral base stocks, a variety of factors including kinematic viscosity and viscosity index pour point, and flash and auto-ignition points, are superior to mineral base lubricant. In addition, poly alpha olefins based synthetic lubricants also have a variety of specialized uses in the military, polymer industries, food-grade applications, cosmetics, refrigeration, textile, dielectric fluids, brake fluids, shock absorption, and other fields. Synthetic lubricants are not much expensive when compared with traditional mineral oils. To meet the ever-increasing standards for health, safety, and the environment, users are being forced to switch from mineral base stocks to poly alpha olefins that are superior in terms of various physicochemical properties. Factors such as performance, the toxicity of the current lubricating fluids, reduced wear & tear and maintenance of the machinery, minimization of disposal issues, and others. These factors are anticipated to boost the alpha olefins market share in the upcoming years.
The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were at a standstill. There were import-export restrictions laid down on major alpha olefins producing countries such as the U. S. and China, which imposed significant challenges on the market. On April 14,2021, CNOOC Oil & Petrochemicals Co., Ltd (CNOOC) and Shell launched new units through their 50:50 joint venture, to deliver critical petrochemicals to the Chinese market.
The key players profiled in the report include Qatar Chemical Company Ltd (Q-chem)., Chevron Phillips Chemical Company LLC, Mitsubishi Chemical Corp, Exxon Mobil Corporation, INEOS Oligomers, Petrochemicals Sdn. Bhd, Royal Dutch Shell, Evonik Industries, and JAM Petrochemicals Company.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the alpha olefin market analysis from 2021 to 2031 to identify the prevailing alpha olefin market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the alpha olefin market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global alpha olefin market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- 1-Octene
- 1-Hexene
- 1-Butene
- Others
By Application
- Synthetic Lubricants
- Detergent Alcohol
- Polyethylene
- Others
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest Of LAMEA
Key Market Players
- Chevron Phillips Chemical Company LLC
- Exxon Mobil Corporation
- Evonik Industries AG
- Idemitsu Kosan Co., Ltd
- INEOS, LANXESS
- Qatar Chemical Company Ltd
- SABIC
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Value Chain Analysis
3.8. Market Share Analysis
3.9. Regulatory Guidelines
3.10. Key Regulation Analysis
3.11. Patent Landscape
CHAPTER 4: ALPHA OLEFIN MARKET, BY PRODUCT
4.1 Overview
4.1.1 Market size and forecast
4.2 1-Octene
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 1-Hexene
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 1-Butene
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Others
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
CHAPTER 5: ALPHA OLEFIN MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Synthetic Lubricants
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Detergent Alcohol
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Polyethylene
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Others
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: ALPHA OLEFIN MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Product
6.2.3 North America Market size and forecast, by Application
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Market size and forecast, by Product
6.2.4.1.2 Market size and forecast, by Application
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Product
6.2.4.2.2 Market size and forecast, by Application
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Product
6.2.4.3.2 Market size and forecast, by Application
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Product
6.3.3 Europe Market size and forecast, by Application
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Product
6.3.4.1.2 Market size and forecast, by Application
6.3.4.2 UK
6.3.4.2.1 Market size and forecast, by Product
6.3.4.2.2 Market size and forecast, by Application
6.3.4.3 France
6.3.4.3.1 Market size and forecast, by Product
6.3.4.3.2 Market size and forecast, by Application
6.3.4.4 Spain
6.3.4.4.1 Market size and forecast, by Product
6.3.4.4.2 Market size and forecast, by Application
6.3.4.5 Italy
6.3.4.5.1 Market size and forecast, by Product
6.3.4.5.2 Market size and forecast, by Application
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Product
6.3.4.6.2 Market size and forecast, by Application
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Product
6.4.3 Asia-Pacific Market size and forecast, by Application
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Product
6.4.4.1.2 Market size and forecast, by Application
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Product
6.4.4.2.2 Market size and forecast, by Application
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Product
6.4.4.3.2 Market size and forecast, by Application
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Product
6.4.4.4.2 Market size and forecast, by Application
6.4.4.5 Australia
6.4.4.5.1 Market size and forecast, by Product
6.4.4.5.2 Market size and forecast, by Application
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Market size and forecast, by Product
6.4.4.6.2 Market size and forecast, by Application
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Product
6.5.3 LAMEA Market size and forecast, by Application
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Product
6.5.4.1.2 Market size and forecast, by Application
6.5.4.2 Saudi Arabia
6.5.4.2.1 Market size and forecast, by Product
6.5.4.2.2 Market size and forecast, by Application
6.5.4.3 UAE
6.5.4.3.1 Market size and forecast, by Product
6.5.4.3.2 Market size and forecast, by Application
6.5.4.4 South Africa
6.5.4.4.1 Market size and forecast, by Product
6.5.4.4.2 Market size and forecast, by Application
6.5.4.5 Rest of LAMEA
6.5.4.5.1 Market size and forecast, by Product
6.5.4.5.2 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Chevron Phillips Chemical Company LLC
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Exxon Mobil Corporation
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Evonik Industries AG
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Idemitsu Kosan Co., Ltd
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 INEOS, LANXESS
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Qatar Chemical Company Ltd
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 SABIC
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Alpha Olefin Market,' the alpha olefin industry was valued at $4.1 billion in 2021, and is estimated to reach $8.2 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.The alpha-olefin family of organic compounds is identified by the presence of a double bond in the primary position. The alpha olefins compound's higher reactivity at this primary position of a double bond makes it suitable for a wide range of applications. Alpha-olefins containing four or more carbon atoms are key compounds that are highly sought-after in the chemical industry as the building blocks for a variety of high-value chemicals. The linear alpha-olefins are used in the production of polyethylene, the creation of alcohols, primarily in detergents and plasticizers, and the synthesis of polyalphaolefins. To add stress-crack resistance, butene-1, hexene-1, octene-1, and decene-1 are primarily used in the production of plasticizers for high-density polyethylene, and linear low-density polyethylene.
The high initial investment required for raw materials and manufacturing of alpha olefins is the major restraint for the growth of the alpha olefin market. The increase in the use of electric vehicles is anticipated to have a significant impact on the global lubricant demand, which is projected to have an impact on the expansion of the alpha olefin market size.
The use of alpha olefins as synthetic lubricants is expected to increase as alpha olefins have highly desirable qualities such as high viscosity index, thermal stability, oxidative stability, and low toxicity cost-effective fuel, as well as the capacity to meet industry norms to minimize environmental dangers. The use of alpha olefins in the food packaging industry is always in high demand as alpha olefins have been effective against a wide range of bacteria, fungi, and microorganisms. The major businesses are ready to make huge investments in the study and creation of alpha olefin market. The alpha olefin market is anticipated to expand in the upcoming years due to its numerous applications in areas such as consumer goods, packaging, industrial processes, and others. Alpha olefins can be used as fuel for drilling equipment due to the increase in the extraction of oil and gas. The global increase in oil and gas exploration operations will lead to an increase in the alpha olefin market demand during the next few years. These factors are anticipated to boost the alpha olefin market share in the upcoming years.
The alpha olefin market share is segmented on the basis of product, application, and region. By product, it is classified into 1-Octene, 1-Hexene, 1-Butene, and others. By application, it is divided into synthetic lubricants, detergent alcohol, polyethylene, and others. By region, the alpha olefin market analysis across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the alpha olefin market forecast report include Qatar Chemical Company Ltd (Q-chem)., Chevron Phillips Chemical Company LLC, Mitsubishi Chemical Corp, Exxon Mobil Corporation, INEOS Oligomers, Petrochemicals Sdn. Bhd, Royal Dutch Shell, Evonik Industries, and JAM Petrochemicals.
The report offers a comprehensive analysis of the global alpha olefin market trend by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.
Impact of COVID-19 on the Global Alpha Olefin Industry
Sales of alpha olefin are directly proportional to the demand from the chemical, automobile, and petrochemical industries. However, various sectors such as chemical and automotive were negatively impacted by the COVID-19 pandemic which has affected the production and demand for alpha olefin due to a disrupted supply chain.The COVID-19 pandemic impacted almost all industries and the alpha olefins producing companies ceased their operations owing to import-export restrictions, lockdowns imposed across several countries, shortage of labor due to the fear of contracting the novel coronavirus led to sluggish demand in the alpha olefin market.
Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global alpha olefin market.
Key Findings of the Study
Based on product, the 1-Hexene sub-segment emerged as the global leader in 2021 and the others sub-segment is anticipated to be the fastest growing during the forecast periodBased on application, the polyethylene sub-segment emerged as the global leader in 2021 and the others sub-segment is predicted to witness the fastest growth in the upcoming years
Based on region, the North America alpha olefin market registered the highest market share in 2021 and is projected to maintain its position during the forecast period
Companies Mentioned
- Chevron Phillips Chemical Company LLC
- Exxon Mobil Corporation
- Evonik Industries AG
- Idemitsu Kosan Co. Ltd.
- Ineos, Lanxess
- Qatar Chemical Company Ltd.
- Sabic
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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