The global 1-decene market is expected to reach USD 950.7 Million by 2028, according to a new report by Reports and Data. Increasing demand for poly alpha olefins is one of the major factors estimated to stimulate market demand. Stringent regulatory norms in the food & beverage and cosmetic industries, as well as growing environmental concerns in automotive industries, have led to an increased demand for synthetic lubricants, which in turn, would be instrumental in driving market growth during the forecast period.
1-decene is used as a chemical intermediate in the
manufacturing of detergents and their derivatives, which finds application in
the production of industrial surfactants. The increase in demand for
surfactants from end-user industries is causative of a rise in the demand for
1-decene. Further benefits of the product include its usage as specialty
industrial chemicals (perfumes, flavors, pharmaceuticals, dyes, oils, and resins),
comonomer for specific copolymers, production of amines, oxo alcohols,
epoxides, synthetic fatty acids, and alkylated aromatics, among others.
Key participants include Royal Dutch Shell, Chevron Phillips
Chemical Company, SABIC, Sasol Limited, ExxonMobil Corporation, Ineos Group
Limited, Qatar Chemical Company, Idemitsu Petrochemical Company, Sigma-Aldrich,
and Alfa Aesar, among others.
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The Asia Pacific region is likely to grow at the highest
rate in the forecast period. The growth of the market in the region is owing to
the easy availability of raw materials. Also, increasing demand for polyethylene
in developing countries, such as China and India, is expected to escalate the
market demand in the forecast period. China leads, in terms of consumption in
Northeast Asia for PE in 2018, with domestic consumption likely to increase
approximately 10 million tons by 2021, which accounts for around half of the
total global demand. China drives 97.0% of PE demand in the region.
For the purpose of this report, Reports and Data have
segmented the global 1-decene market on the basis of grade, application,
end-users, and region:
Grade Outlook (Volume, Kilo Tons; 2018-2028 and
Revenue, USD Million; 2018-2028)
- Bio-Based
- Synthetic
Application Outlook (Volume, Kilo Tons;
2018-2028 and Revenue, USD Million; 2018-2028)
- Polyethylene
- Poly
Alpha Olefins
- Detergent
Alcohols
- Others
End-Users Outlook (Volume, Kilo Tons;
2018-2028 and Revenue, USD Million; 2018-2028)
- Food
& Beverage Industry
- Pharmaceutical
Industry
- Paints
& Dyes Industry
- Others
Regional Outlook (Volume, Kilo Tons; 2018-2028
and Revenue, USD Million; 2018-2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
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Further
key findings from the report suggest
- By
grade, the synthetic 1-decene market dominated the market in 2018 and is
expected to grow at a rate of 3.9% in the forecast period. The market
dominance of this grade is owing to the low price and easy availability of
the product for use in end-user industries.
- By
application, poly alpha olefins contributed to the largest market share in
2018 and are likely to witness a growth rate of 3.8% in the forecast
period. Poly alpha olefin is the most synthetic base oil used in
automotive and industrial lubricants. PAOs find extensive application in
automotive fluids along with hydraulic, bearing, and gear oils, working in
extreme conditions. Also, these are deployed as base fluids in some wide
temperature range greases.
- Europe
held the largest market share in 2018 and is expected to grow at a rate of
3.7% in the forecast period. The high demand in the region is due to high
consumption, rising production capacities, competitive production costs,
and high economic growth.
- In
May 2019, Chevron Phillips Chemical Company, a leading player in the
market, announced its continuing research activity on the addition of a
world-scale 1-Hexene unit. The addition would expand the production of
normal alpha olefins (NAO), promoted under the brand name Alpha Plus®. NAO
has widespread usage in the production of polyethylene, synthetic motor
oils, plasticizers, lubricants, surfactants, automotive additives, paper,
and multiple other specialty products.
Key
Insights offered in the report:
·
Business
overview, product overview, significant market data, demand and supply ratio
and overall industry chain analysis
·
The
report encompasses different approaches and strategic business decisions
undertaken by the key players of the market to gain a robust a footing
·
It
describes in detail the production value, marketing strategies, distributors,
and factors influencing the growth of the market
·
Strategic
business expansion plans and alliances of the key players
·
Comprehensive
analysis of the present trends and emerging trends of the market
·
Analysis
and identification of the factors influencing the 1-decene market
such as drivers, restraints, opportunities, and trends
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