The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
- Historical Market Size (2020): USD 9.2 Billion
- Forecast CAGR (2021-2026): 4.6%
- Forecast Market Size (2026): USD 12 Billion
The linear alpha olefins market is expected to expand due to rising demand for linear low-density polyethylene (LLDPE), which has a wide range of applications in food packaging, shrink films, automotive, household goods, and agriculture. The poly alpha olefins (PAO) section is commonly used in the manufacture of synthetic lubricants. The synthetic lubricants industry is expected to expand significantly in the forecast era.
Industry Definition and Major Segments
Alkenes with a terminal double bond between the first and second carbon atoms are known as linear alpha olefins. Because of the double bond between the first and second carbon atoms, these olefins can be used in a wide range of applications. Polymers (LLDPE and HPDE), artificial lubricants, synthesized acids, and petroleum chemicals are all made with linear alpha olefins. The development of linear alpha olefins has historically relied on ethylene oligomerization and Fischer-Tropsch synthesis.
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Based on type, the industry is divided into:
Based on end-uses, the industry is segmented into:
- Detergent Alcohols
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Growing demand for poly alpha olefins in the automotive industry and rising demand for polyethylene in the packaging industry are two key factors driving the linear alpha olefin market. The growth in the demand for LLDPE in the packaging and construction industries is expected to drive up the demand for linear alpha olefin. As a result, companies are ramping up development of linear alpha olefin. Furthermore, the easy availability of raw materials is expected to raise linear alpha olefin demand in the near future. Technological advances are occurring in the global linear alpha olefin industry. Companies are still trying to come up with new and improved linear alpha olefins. The linear alpha olefin market is expected to be propelled by the development of new linear alpha olefin manufacturing processes and applications. However, demand growth is expected to be hampered by the enforcement of strict environmental regulations and raw material price volatility. During the forecast era, North America is expected to hold a significant share of the market. Due to increased demand in the region’s automotive industry, Asia Pacific is expected to be a rapidly increasing region of the linear alpha olefin market.
Key Market Players
The major players in the market are Shell International B.V., Ineos AG, Exxon Mobil Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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