Market Overview:

Alpha olefins Market are organic compounds that have their major application as feedstock in various end-use industries which utilize petrochemicals to carry out various production processes. Market Research Future (MRFR) has published a report asserting that the global alpha olefins market is forcasted to expand at a moderate growth rate in the forthcoming years.

Market Drivers and Restraints:

Increasing demand for alpha olefins as comonomers for synthetic lubricant production, polyolefin production, as surfactant in detergent production and crude oil refining are propelling the growth of the global alpha olefins market. Rise in exploration and extraction activities of oil and gas and increased utilization of alpha olefins as drilling machinery fuel in exploration activities are some other factors that are fueling the growth of the global alpha olefins market. The crude oil refining processes have increased across the globe in order to meet the high global demand for energy and fuel, which in turn is leading to the noteworthy expansion of the global COVID 19 Impact on Alpha Olefin Market However, fluctuations in the prices of crude oil and government regulations on carrying out exploration activities are restraining the growth of the global alpha olefins market in the forthcoming years.

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Competitive Analysis:

The players in the global alpha olefins market are aiming towards expansion of their businesses on the global scale by undertaking strategic mergers and acquisitions. Increased research and development expenditure for introducing innovative application areas of alpha olefins is aiding the players in sustaining the competitive environment of the global alpha olefins market.

The major players profiled by MRFR that are operating in the global Alpha Olefins market are:

Royal Dutch Shell plc (the Netherlands),

Chevron Phillips Chemical Company LLC (the U.S.),

Ineos Group Limited (the U.K),

SABIC (Saudi Arabia),

Sasol Limited (South Africa),

The Dow Chemical Company (the U.S.),

PJSC Nizhnekamskneftekhim (Russia),

Qatar Chemical Company Ltd. (Qatar),

Evonik Industries AG (Germany),

Idemitsu Kosan Co., Ltd. (Japan)

Market 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.

Regional Analysis:

The Global Alpha Olefins Market has been geographically segmented into five major regions such as Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. The Asia Pacific region commands for the largest share in the global alpha olefins market owing to the increased demand for alpha olefins as a result of rapid expansion of the construction industry. Increased production of pipes in emerging economies like China, India, Japan and others due to rapid infrastructural development and increased production of petrochemicals are propelling the growth of the alpha olefins market in the Asia Pacific region. The North America region is expanding at a significant growth rate in the global alpha olefins market owing to the abundance of shale gas, need to meet the polyethylene supply gap and low cost of ethylene that is inviting several investors in this region. Increased consumption of oilfield chemicals is fueling the growth of the alpha olefins market in the Europe region. The alpha olefins market in the Middle East and Africa region is majorly driven by the high production of petrochemicals in the Gulf countries.