NEW YORK, March 1 , 2016 /PRNewswire/ -- The alpha olefins market size is estimated to have accounted for USD 13.95 billion in 2014 and is projected to reach USD 19.85 billion by 2020, registering a CAGR of 6.2% between 2015 and 2020. The market is largely driven by the increased demand from end-use industries, primarily the plastics industry.
"1-Hexene alpha olefins to dominate the market"
1-Hexene is the most popular type of alpha olefin. The demand for 1-Hexene is mainly driven by the need of end-use industries such as packaging, consumer goods, and automotive. The rising demand for polypropylene is driving the market for 1-Hexene. The properties of 1-Hexene make it suitable to be used in the plastics industry. It is primarily used as a comonomer in the production of polyethylene. It is also used as an intermediate to produce mercaptans, oxo alcohols, organic aluminum compounds, and synthetic fatty acids.
"LLDPE application segment to capture the largest share of the alpha olefins market"
The LLDPE application segment accounts for the biggest share of the olefins market. This is attributed to the increased need for high-quality plastics from the plastics industry. The superior properties of LLDPE such as high tensile strength and high puncture resistance make it the ideal material for use in plastic applications. Due to its versatility and chemical inertness, LLDPE is the most widely used plastic. It is mostly used in packaging applications such as food packaging, pharmaceutical packaging, and consumer goods packaging, among others. LLDPE is replacing conventional LDPE in many areas because of its low production cost and high product performance. The market for alpha olefins is growing due to the increased demand for LLDPE from various industries.
The growing demand from the plastic and automotive industries is propelling the demand for alpha olefins.
In the process of determining and verifying the market size for the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (50%), Tier 2 (37%), and Tier 3 (13%).
- By Designation: C-level (46%), Director Level (33%), and Others (21%)
- By Region: North America (34%), Europe (31%), Asia-Pacific (23%), and RoW (12%).
The various key players profiled in the report include Chevron Phillips Chemical Company LLC (U.S.), Royal Dutch Shell Plc (Netherlands), Exxon Mobil Corporation (U.S.), Saudi Arabia Basic Industries Corporation (Saudi Arabia), Evonik Industries Ag (Germany), The Dow Chemical Company (U.S.), Sasol limited (South Africa), TPC Group (U.S.), Qatar Chemical Company Limited (Qatar), and Ineos Group Limited (Switzerland).
The report will help the leading players/new entrants in this market in the following ways:
1. This report segments the alpha olefins market comprehensively and provides the closest approximations of the revenue for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to improve their position in the business. The competitive landscape includes expansions, new product developments, and joint ventures.
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