Higher Olefins Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

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Overview

Higher Olefins Market size is forecast to reach $XX% billion by 2025, after growing at a CAGR of 5.2% during 2020-2025, owning to growing demand from various industries such as personal care and home care, automotive and others. Higher olefins are used primarily as intermediates in the production of other chemicals, such as polymers, fatty acids, plasticizer alcohols, surfactants, lubricants, amine oxides, and detergent alcohols. Increasing urbanization & industrialization rate and growing vehicle ownership along with shift in preference for luxurious lifestyle is driving higher olefins demand. 
 
Key Takeaways
  • The demand for Higher Olefins in Asia Pacific region increasing at a faster rate during the forecast period, owning growth in automotive industry. According to OICA, the production of light commercial vehicles has increased by 10.2 % in 2018 in the APAC region.
  • In 2017, a new innovative olefin cracking technology “Roto Dynamic Reactor Technology” developed and patented by Coolbrook Oy in collaboration with Neste Jacobs, University of Cambridge’s Whittle laboratory, University of Oxford’s Osney Thermo Fluids laboratory, MANTurbo and Dow Chemicals. This technology improves the olefin production with lesser energy consumption. Therefore, it is supporting market growth.
  • However, due to Covid 19 epidemic, the automotive manufacturing plants are being shuttered around the world, and vehicle sales are dropping. This is impacting higher olefins market growth. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021.
Application - Segment Analysis

Automotive held the largest share in the higher olefins market in 2019 and is growing at a CAGR of 6.2% during the forecast period. Higher olefins are used in formulation of lubricant additives for automotive lubricants and industrial lubricants. Lubricants are used in engine crankcase lubricants, hydraulic fluids, gear oils, engine oil and others. Lubricant additive technology provides many benefits to the environment and the end users. Regular developments in the engine oil specifications for different motor vehicles has been increasing the demand for newer lubricant formulations, consequently increasing the demand for lubricant additives, which is driving higher olefins demand.

Geography - Segment Analysis

Asia Pacific region held the largest share in the global higher olefins market in 2019 up to 36%, owing to economic growth and significant industrialization in the region. In 2018, According to OICA the automotive production in India, Thailand, Indonesia and Malaysia has increased up to 5174645, 2167694, 1343714 and 564800, i.e., 8.0%, 9.0%, 10.3% and 12.2% higher than previous year due to rising per capita income of the individuals. According to Department for Promotion of Industry and Internal Trade (DPIIT), the Indian automotive industry has attracted Foreign Direct Investment (FDI) worth US$ 22.35 billion during the period April 2000 to June 2019, which has influenced the growth of the higher olefins market in APAC region. In addition, China is the largest consumer and producer of surfactants in the region, supported by the domestic consumption and presence of large number of local producers in the country. Thus, growth of various end users is expected to boost the consumption of higher olefins, as they are the reactive intermediates that are used to manufacture products used in automotive, surfactants, corrosion inhibitors, agricultural chemicals, and others.

Drivers – Higher Olefins Market
  • Growing demand for automotive lubricants.
Lubricants are widely utilized in energy, textile, chemical, construction, automotive and infrastructure sectors for engine oil, hydraulic oil, bearings, and wire rope applications. According to International Trade Administration (ITA), China is the world’s largest vehicle market. The Chinese government is expecting that automobile output will reach 35 million by 2025. According to the China Association of Automobile Manufacturers, over 27 million vehicles were sold in 2018. In 2017, according to International Trade Administration (ITA), 1.2 million new passenger cars, SUVs and commercial vehicles were sold in the Australian market, an increase of 0.9% from 2016. According to OICA in 2018, global light commercial vehicles production increased from 19,482,394 to 20, 635,799 i.e., 5.9% from 2017.Therefore, increasing sales of vehicles and rising demand for lightweight as well as heavy-duty vehicles is majorly enhancing the demand for the automotive lubricants, which is influencing higher olefins market growth.

Challenges – Higher Olefins Market 
  • Fluctuating raw materials prices.
Price and availability of raw materials are major factors that affect the price of the end products. The major challenge for the global higher olefins market is the oscillating price trends of raw materials, which are fluctuating due to volatile energy prices, as olefins comprised of hydrocarbons, especially ethylene and propylene. Made from ethane, propane, naphtha, and gasoline that are composed in natural gas and crude oil. According to BP statistics, in 2018, the average crude oil price increased to $71/ bbl from $54/bbl in 2017. Therefore, the fluctuation in raw materials prices is affecting higher olefins price which is limiting its market growth.  

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Higher Olefins Market. In 2019, the market of Higher Olefins Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Higher Olefins market are Royal Dutch Shell PLC, Honeywell International Inc, Exxon Mobil Corporation, Chevron Phillips Chemical Company, and American Chemistry Council, Inc., among others.  

Acquisitions/Technology Launches
  • In May 2019, ExxonMobil announced to expend Vistamaxx Production in its Baytown, Texas chemical plant, and enter linear alpha olefins market, with an investment of $2 billion. 
  • In January, 2020, Indorama Ventures Public Company Limited acquired Huntsman's chemical intermediate and surfactants businesses, to significantly widening its US footprint into higher margin integrated oxides and derivatives and specialty chemicals segments.
1. Higher Olefins Market - Overview
        1.1 Definitions and Scope
2. Higher Olefins Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Higher Olefins Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Higher Olefins Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Higher Olefins Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Higher Olefins Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Higher Olefins Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Higher Olefins Market - By Grade Type (Market Size -$Million / $Billion)
        8.1 4N HPA
        8.2 5N HPA
        8.3 6N HPA
9. Higher Olefins Market - By Technology (Market Size -$Million / $Billion)
        9.1 Hydrolysis
        9.2 Hydrochloric Acid Leaching (HCL)
10. Higher Olefins - By Application (Market Size -$Million / $Billion)
        10.1 LEDs
        10.2 Electronic Displays
        10.3 Semiconductors
        10.4 Li-Ion Batteries
        10.5 Automotive (Excluding Li-Ion Batteries)
11. Higher Olefins- By Geography (Market Size -$Million / $Billion)
        11.1 Higher Olefins Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Higher Olefins- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Higher Olefins- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Higher Olefins - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Higher Olefins - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Higher Olefins Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Higher Olefins Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Higher Olefins Market - Key Company List by Country Premium
15. Higher Olefins Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Altech Chemical Ltd
        15.3 Baikowski Pure Solution
        15.4 Dalian Hiland Photoelectric Material Co., Ltd
        15.5 Nippon Light Metal Holding Company, Ltd
        15.6 Orbite Technology Inc
        15.7 Rusal
        15.8 Sasol Ltd
        15.9 Sumitomo Chemical Co , Ltd
        15.10 Xuan Cheng Jing Rui New Material Co Ltd
        15.11 Zibo Honghe Chemical Co Ltd
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies
16. Higher Olefins Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Higher Olefins Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Higher Olefins Market Size 2018
2 Canada Higher Olefins Market Share 2018
3 Brazil Higher Olefins Market Outlook 2019 - 2023
4 Mexico Higher Olefins Market Research 2018
5 Germany Higher Olefins Market Trends 2019 - 2023 
6 France Higher Olefins Market Growth 2019 - 2023 
7 UK Higher Olefins Market Demand 2019 - 2023 
8 Italy Higher Olefins Market Segmentation 2018
9 Russia Higher Olefins Market Analysis 2019 - 2023
10 China Higher Olefins Market Revenue 2019 - 2023
11 Japan Higher Olefins Market Volume 2019 - 2023
12 South Korea Higher Olefins Market Potential 2019 - 2023
13 India Higher Olefins Market Leaders 2018
14 Saudi Arabia Higher Olefins Market Forecast 2019 - 2023 
15 Kuwait Higher Olefins Market Value 2018

List of Figures

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