Alpha Olefin Market- Global Industry Analysis and Forecast (2022-2029)

Alpha Olefin Market size was valued at US$ 9.51 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 4.9% from 2022 to 2029, reaching nearly US$ 13.94 Bn
Alpha Olefin Market Overview:
Alpha Olefin Market is expected to reach US$ 13.94 Bn. by 2029. Alpha-olefins are a family of organic compounds that are alkenes with the chemical formula C xH 2x and are differentiated by a double bond at the main or alpha position in organic chemistry. All of the processes that alpha olefins go through are also present in alpha olefin blends. They're used to make amines and amine oxides, oxo alcohols, alkylated aromatics, epoxides, tanning oils, synthetic lubricants, lubricant additives, alpha olefin sulfonates, and synthetic fatty acids, among other things. This report focuses on the different segments of the Alpha Olefin market (Product, Application, and Region). This report examines the top industry players and regions in depth (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a comprehensive look at today's rapid advancements in a range of fields. Facts and figures, visualisations, and presentations are used to highlight the primary data analysis from 2017 to 2020. The market drivers, restraints, opportunities, and challenges for Alpha Olefin are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Alpha Olefin market.



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Alpha Olefin Market Dynamics:
Demand from the paper and pulp sectors is increasing.

Alkenyl succinic anhydride is manufactured using alpha olefins (ASA). Alkenyl succinic anhydride is a paper sizing agent that is widely used in the paper industry to improve paper softness and water resistance. Increasing environmental concerns and the usage of paper in the packaging industry has increased the use of alkenyl succinic anhydride, which has enhanced the alpha olefin market's growth. According to the Environmental Paper Network (EPN), paper use is continuously rising year after year, surpassing 400 million tonnes in 2018. As a result, the growth of the alpha olefin market is driven by a rise in paper demand.

Cleaner-burning fuels are in high demand.

Isobutylene is a branched alpha olefin used to make methyl-tert-butyl ether (MTBE) and ethyl-tert-butyl ether (ETBE), two gasoline blending components for cleaner-burning fuels. Overall gasoline use in the United States accounted for around 58 percent of total transportation sector energy consumption in 2019, according to the United States Energy Information Administration. For portable and emergency power, gasoline is frequently utilised in autos, planes, and generators. As a result, the growth of the alpha olefin market is driven by rising gasoline consumption.

Regulations on the use of polyethylene by the government

Although polyethylene is widely employed in end-use industries as a replacement for heavy metals and fibres, its non-degradability and negative environmental impact pose a significant problem. Government limits on the use of polyethylene reduce demand for alpha olefins, which slows the market's growth. For example, in July 2015, California passed SB270, which prohibits the use of plastic bags in grocery shops, pharmacies, and other stores. Furthermore, Tanzania outlawed the importation, production, sale, and use of plastic bags in May 2019, according to the United Nations Environmental Programme (UNEP). The growth of alpha olefins has been hampered by strict rules aimed at reducing the use of polyethylene.
Alpha Olefin Market Segment Analysis:
The Alpha Olefin Market is segmented by Product, Application and End-use Industry.

Based on the Product, the market is segmented into 1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecene, and Others. 1-Hexene segment is expected to hold the largest market share of xx% by 2029. The use of 1-hexene as a common monomer in the production of High-Density Polyethylene (HDPE) and Linear Low-Density Polyethylene (LLDPE) polymers is expected to boost segment growth. The 1-hexene segment is likely to increase further as demand for polyethylene rises in emerging economies such as China, India, and Brazil, owing to increasing automotive and consumer products markets.

1-Dodecene segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. It's also utilised as an additive in synthetic lubricants, which should help the market grow even further. Because 1-dodecane is utilised in the manufacturing of detergent alcohols, demand for it from industrial and household cleaners will increase, as will its application in the personal care industry. However, 1-dodecane is expected to be phased out as demand for bio-based detergent alcohols and alkyl aromatics grows.

Based on the Application, the market is segmented into Polyethylene, Detergent Alcohol, Synthetic Lubricant, and Others. Polyethylene segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Polyethylene compounds are used most frequently in construction. Polyethylene is also utilised in the packaging industry, as well as for prototype development on CNC machines and 3D printers. High-density polyethylene is a low-cost, easy-to-process material with a high moisture barrier and the capacity to manufacture opaque packaging.

Due to low production costs, heat sealability, high clarity and elongation, and softness, low-density polyethylene is frequently preferred based on the field of application. The installation of rigorous pollution control laws is expected to stimulate demand for synthetic lubricants. Rising R&D spending is also expected to help drive demand for synthetic lubricants. Furthermore, the broad range of applications for these lubricants is expected to boost the market even more.


Alpha Olefin Market Regional Insights:
Asia Pacific region is expected to dominate the Alpha Olefin Market during the forecast period 2022-2029. Asia Pacific region is expected to hold the largest market share of xx% by 2029. The Asia-Pacific region is expected to be the largest consumer of alpha olefins. The need for alpha olefins is rising in countries such as China, Japan, South Korea, India, and Southeast Asia. China is also the world's largest producer of lubricants, oil field chemicals, plasticizers, and other products, serving a global market.

China has one of the world's largest pulp and paper industries. China is one of the world's top three paper producers. Due to environmental concerns, the country imposed a ban on all wastepaper imports in 2020, and it is expected that over 45 million metric tonnes of backward paper capacity has been abolished in the last seven years. Due to rigorous regulatory controls and a scarcity of raw resources, fresh investment in the country's pulp and paper industry is also stagnating. During the forecast period, this is likely to have a negative influence on the demand growth of the market analysed in the country.

China has one of the highest per capita usage rates of toilet/bathing soap in the world, at four kg. In addition, due to increased hygiene awareness as a result of the COVID-19 pandemic, the consumption of soap and detergent has increased dramatically in the country. The demand for alpha olefins is expected to rise during the forecast period as a result of this usage.The objective of the report is to present a comprehensive analysis of the Global Alpha Olefin Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Alpha Olefin Market dynamic and structure by analyzing the market segments and projecting the Global Alpha Olefin Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Alpha Olefin Market make the report investor’s guide.
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Global Alpha Olefin Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 9.51 Bn.


Forecast Period 2022 to 2029 CAGR:
4.9%
Market Size in 2029:
US $ 13.94 Bn.


 Segments Covered:
by Product
• 1-Butene
• 1-Hexene
• 1-Octene
• 1-Decene
• 1-Dodecene
• Others


by Application
• Polyethylene
• Detergent Alcohol
• Synthetic Lubricant
• Others


by End-Use industry
• Packaging
• Automotive
• Oil & gas
• Beauty & personal care
• Paper & pulp
• Textile
• Electronics
• Others



Alpha Olefin Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Alpha Olefin Market Key Players
• Royal Dutch Shell plc
• Sasol
• Qatar Chemical Company Ltd (Q-Chem)
• Chevron Phillips Chemical Company
• The Dow Chemical Company
• Idemitsu Kosan Co. Ltd
• The Linde Group
• INEOS
• Shell Chemical Ltd.
• Sinopec Beijing Yanhua
• ONGC
• Exxon Mobil Corporation
• Saudi Arabia Basic Industries Corporation
• Reliance Industries
• BASF SE
• BorsodChem
• Jinan Haohua Industry Royal Dutch
• Petroquimica Rio
• Tercero

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Alpha Olefin Market?
Ans. Asia Pacific region is expected to hold the highest share in the Alpha Olefin Market.

2] Who are the top key players in the Alpha Olefin Market?
Ans. Royal Dutch Shell plc, Sasol, Qatar Chemical Company Ltd (Q-Chem), Chevron Phillips Chemical Company, and The Dow Chemical Company are the top key players in the Alpha Olefin Market.

3] Which segment is expected to hold the largest market share in the Alpha Olefin Market by 2029?
Ans. 1-Hexene segment is expected to hold the largest market share in the Alpha Olefin Market by 2029.

4] What is the market size of the Alpha Olefin Market by 2029?
Ans. The market size of the Alpha Olefin Market is expected to reach US $ 13.94 Bn. by 2029.

5] What was the market size of the Alpha Olefin Market in 2021?
Ans. The market size of the Alpha Olefin Market was worth US $ 9.51 Bn. in 2021.