Alpha Olefins Market Overview:
Alpha Olefins belong to the family of alkenes which are also called olefins. They have a double bond at the primary or alpha (α) position in their structure. This double bond enhances the reactivity of the compound and makes it useful for many applications. The major region dominating the alpha-olefins market is North America which is followed by the Middle East and Europe. Various expansion activities in the production of alpha-olefins by the key players in North America is the main factor for its dominance in the global Alpha Olefins Market. Saudi Arabia stood first in the global exporters of alpha-olefins with the total export quantity of 4,848,741 tons and it is followed by Belgium with 2,70,6432 tons. China topped the global list of alpha olefins with a total import quantity of 4,955,720 tons and it is followed by Germany with 1,830,757 tons of imports.
Alpha Olefins Market Outlook:
Alpha Olefins are mainly two different types namely branched alpha-olefins and linear alpha olefins. In linear alpha olefins, 1-butene, 1-hexene and 1-octene are extensively used as co-monomer in the production of High-density polyethylene (HDPE) and linear low-density polyethylene (LLDPE); C4-C8 linear alpha olefins are used in the production of linear aldehyde via oxo synthesis and used in the production of linear alcohols for plasticizer application. 1-decene is used in the production of polyalphaolefin synthetic lubricant. C10-C14 linear alpha olefins are used in the production of surfactants for aqueous detergents. C16 - C18 linear olefins’ main application is as the hydrophobes in oil-soluble surfactants. Branched olefin like isobutylene is used as an intermediate in the production of Methyl Tert-Butyl Ether (MTBE) and Ethyl Tert-Butyl Ether (ETBE),
Alpha Olefins Market report comprises of pricing analysis for different types of Alpha Olefins. The price of Alpha Olefins is expected to range from $500 to $1500 per one metric ton by 2022.
Alpha Olefins Market Growth Drivers: There is a significant increase in the demand in the usage of linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE) in the plastics industry owing to their many properties like high resistance, more flexibility etc. Polyalphaolefin is the main component used in the production of LLDPE and HDPE. This demand from the plastics industry is boosting the global Alpha Olefins Market.
Alpha Olefins Market Challenges: One of the major challenges in the global Alpha Olefins Market is the fluctuation of raw material prices in the production of alpha olefins. Ethylene is the main raw material used in the production of alpha olefins. The prices of ethylene are increasing at a significant rate. By the end of 2017, Ethylene prices in South-East Asia have risen by 3.1% and were then priced at $1,150 per ton. In the month of September 2018, according to ICIS, the ethylene prices have come across a steep increase from the last 6 months.
Alpha Olefins Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Alpha Olefins market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Alpha Olefins market and their specific applications in different types of vehicles.
Alpha Olefins Market Report: Industry Coverage
Types of Alpha Olefins: Branched: Isobutylene and others. Linear: 1-butene, 1-hexene, 1-octene, 1-decene, 1-dodecene, 1-tetradecene, 1-hexadecene, 1-octadecene and blends of C20-C24, C24-C30, and C20-C30.
Applications of Alpha Olefins: In the production of High-density polyethylene (HDPE) and Linear Low-Density Polyethylene (LLDPE), as Plasticizers, Lubricants, Surfactants, Detergents, Hydrophobes, Paper Sizing, in Oil recovery and many other applications.
The Alpha Olefins market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- The Middle East and Africa: Israel, South Africa, Saudi Arabia
Alpha Olefins Market Key Players Perspective:
Joe Walton, Business Director, INEOS Oligomers Company said,” Our low viscosity PAO business continues to benefit from lubricant reformulation activity to both attain better fuel economy and to lower carbon emissions. The size of this new PAO unit underscores our commitment to keep pace with our customers’ expanding requirements, well into the next decade. INEOS Oligomers is currently the world’s largest merchant supplier of low viscosity PAO and this investment will ensure we maintain that position. Linear Alpha Olefin (LAO), the raw material for PAO production. We are currently building a new world scale, 420 ktpa LAO unit on the Chocolate Bayou, TX site. This unit will provide the feedstock to support our PAO capacity additions”
Some of the key players mentioned in this report are Chevron Phillips Chemical Company LP, ExxonMobil Chemical Company, Evonik Industries AG, Godrej Industries Ltd., INEOS Oligomers, Linde AG, Mitsubishi Chemical, Nizhnekamskneftekhim, Qatar chemical company, Dow Chemical Company, Sasol, Shell Chemical Limited, and Saudi Basic Industries Corporation among others.
Alpha Olefins Market Trends:
- Scientists from the Korea Institute of Energy Research, Republic of Korea, have researched on a durable nanocatalyst of potassium-doped iron carbide/alumina for the production of linear alpha olefins via Fischer-tropsch synthesis. The results of this research have shown that the active iron-carbide nanoparticles which are embedded on gamma-alumina having well-dispersed potassium promoters has shown high activity and productivity for linear alpha olefins at high temperatures during Fischer-Tropsch synthesis.
- In a new research done by Yangzhou University, Yangzhou, China, a new biocatalyst is used for the scalable production of linear alpha olefins from carboxylic acids. On fusing Decarboxylase OleTJE and the reductase domain of P450BM3, it will create a self-sufficient protein named OleT-BM3R. This protein is able to catalyze oxidative decarboxylation of carboxylic acids into linear α-olefins (LAOs) efficiently. Owing to its good stability and scalability, this self-sufficient biocatalyst will offer an eco-friendly approach for producing linear alpha olefins.
- January 3, 2007: Evonik Industries AG, one of the key players in the global Alpha Olefins Market has successfully completed the acquisition of Specialty & Coating Additives business of Air Products, Inc., US, for $3.8 billion. This acquisition will strengthen its leading position in the global high-margin specialty & coating additives market.
- Shell Chemical LP (Shell) is making good progress in the construction of its fourth linear alpha olefins (AO) unit at its chemicals manufacturing site in Geismar, Louisiana, USA. This will lead to the total production of 425,000-tonne-per-year capacity which will make Shell’s Geismar site the largest alpha olefins producer in the world.