Market Synopsis:

The importance of alpha olefins as the feedstock of industries has increased the expansion of the market in the forecast period. Market reports associated with the chemicals and materials sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is anticipated to develop at an exceptional CAGR in the duration of the forecast period.

Alpha Olefins market is predicted to witness strong due to growing demand from automobile sector, rapid industrialization, and increasing demand from construction sector. In addition, among the end use application segment polyolefins co-monomer accounted for the largest market share in 2016 and holds for around 29% market share due to their wide usage in automotive application, industrial applications, household and packaging applications.

Competitive Dashboard and Top Key Players:

The Alpha Olefins report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The global alpha olefins market includes numerous manufacturers operating in the market which comprised of large scale and medium scale producers. Some of the major market players operating in the global alpha olefins industry has shifted their focus towards growth association specifically by Asia Pacific as moderate level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Along with this, the prominent manufacturers are focusing on expanding their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Many operating players are escalating their manufacturing capacity of alpha olefins to meet the rising demand for alpha olefins. Apart from this, many key players has launched a series of product to solidify their position in the market.

Top Key Players:

Evonik Industries AG (Germany), Chevron Phillips Chemical Company LLC (U.S.), Royal Dutch Shell plc (the Netherlands), Ineos Group Limited (U.K), SABIC (Saudi Arabia), Sasol Limited (South Africa), The Dow Chemical Company (U.S.), Qatar Chemical Company Ltd. (Qatar), PJSC Nizhnekamskneftekhim (Russia), and Idemitsu Kosan Co.,Ltd. (Japan) among others are a few of the major companies functioning in the alpha olefins market.

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Current Industry/ Innovation/ Related Updates:

June 2017- A U.S. based Chevron Phillips Chemical Company announced that the company has completed the production capacity expansion of its poly alpha olefins (PAO) at its Cedar Bayou plant in Texas. The company has increased the capacity by 20% which will help company to meet the rising demand for high performance lubricants in industrial and automotive applications.

October 2016- INEOS, announced to build a new linear alpha olefin plant at its Bayou site. This expansion facility is expected to cost around USD 500 Million, and completion will be done by the end of 2018. With this capacity expansion the company will able to meet the growing demand for alpha olefins across the globe.

November 2015- Shell Chemical LP announced to construct a fourth alpha olefin unit at its chemical manufacturing site in Geismar, Louisiana. The plant is of capacity of around 425,000 tonnes and is predicted to be complete by end 2018. With this capacity expansion, the company will bring total alpha olefins production capacity to more than 1.3 million mt/year which will make the site as largest alpha olefins manufacturer across the globe.

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Industry Segmentation:

The Global Alpha Olefins Market has been segmented on the basis of type and application.

Based on type, the alpha olefins market has been segmented into 1-butene, 1-hexene, 1-octene, 1-decene and others. The 1-Butene segment is forecasted to be the fastest growing segment in the global alpha olefins market owing to the increased utilization of plastics in various end-use industries.

Based on application, the alpha olefins market has been segmented into polyolefin comonomer, plasticizer, lubricant, surfactant, drilling machinery fuel, and others. The polyolefin comonomers segment commanded for the major share in the global alpha olefins market owing to the rapid expansion of plastic industry.

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