Olefins also called as alkene are
compound made up of hydrogen and carbon that contains one or more pars
of carbon atoms linked by a double bond. The simplest olefin compound
has a carbon double bond and four hydrogen single bonds. Olefins belongs
to a family an organic compounds called hydrocarbons. Olefins are
insoluble and exist in all three states of matter. Some short chain
alkenes are gases at room temperature and pressure. More complicated
structures exist as liquids and solids. Olefins are examples of
unsaturated hydrocarbons, compounds that contain only hydrogen and
carbon and at least one double or triple bond.
The global olefin market was sized over
USD 14.2 billion in 2015. The global olefin market is projected to reach
USD 21.50 billion by 2023, growing with a CAGR of X.XX% from
2017 to 2023. The increasing demand for polyethylene is expected to be a
prime factor driving the growth of global olefin market over the
forecast period. Easy availability of ethylene, a key raw material used
for olefin production will also drive this market. Furthermore,
increasing environmental concerns regarding automotive production of
olefin will drive the global olefin market over the forecast period.
Moreover, fluctuating prices of raw materials needed for the production
of olefin, government regulations on usage of polyethylene as well as
increasing consumer awareness regarding environment hazards caused by
polyethylene are the key factors restraining the growth of global olefin
market. Growing demand for bio-degradable which forces manufacturers to
focus on R&D for bio – based raw material development and increasing
olefin demand from end use industries are expected to bring more
opportunities to the global olefin market over the forecast period.
The report segments the global olefin
market by end user applications, product type and region. The end user
applications include polyethylene, synthetic lubricants, cosmetics,
plasticizers, adhesives, detergent alcohol and others. On the basis of
product type, the market has been segmented into 1-butene, 1-hexane,
1-octene, 1-decene, 1-dodecene and some others.
Geographic Coverage and Analysis:
The report provides regional analysis
covering geographies such as North America, Europe, Asia-Pacific, and
Rest of the World. In this section the key trends and market size for
each geography is provided over the period of 2015 – 2023.
Figure 2: Global Olefin Market by Region
America was accounted to be the largest olefin producing region in the
global olefin market. However, this region is expected to grow at lowest
rate over the forecast period. Europe is expected to register moderate
growth rate in the global olefin market over the forecast period due to
stringent government regulations. Moreover, Asia Pacific region is
expected to grow at the highest CAGR over the forecast period due
increasing demand of polyethylene and synthetic lubricant industries.
Emerging economies like China, India, and Japan are expected to witness
high growth rate over the forecast period in global olefin market due to
increasing demand in end user applications such as polyethylene,
detergent alcohol and synthetic lubricants. Furthermore RoW is
anticipated to haves ubstantial growth in the global olefin market over
the forecast period due to increasing consumer awareness and focus of
manufacturers on untapped market region.
The companies covered in the report
include Shell Chemical Ltd., Chevron Phillips, INEOS Oligomers, Sasol,
Idemitsu Petrochemical, Sinopec Beijing Yanhua, ONGC, Exxon Mobil
Corporation, and Saudi Arabia Basic Industries Corporation.
The report provides deep insights on
demand forecasts, market trends and micro and macro indicators. In
addition, this report provides insights on the factors that are driving
and restraining the demand of olefin globally as well as regionally.
Moreover, IGR-Growth Matrix analysis given in the report brings an
insight on the investment areas that existing or new market players can
consider. The report provides insights into the market using analytical
tools such as Porter’s five forces analysis and value chain analysis of
Moreover, the study highlights current market trends and
provides forecast from 2017 to 2023. We also have highlighted future
trends in the olefin market that will impact the demand during the
forecast period. Moreover, the competitive analysis given in each
regional market brings an insight on the market share of the leading
players. Additionally, the analysis highlights rise and fall in the
market shares of the key players in the market. This report will help
manufacturers, suppliers and distributors of the olefin market to
understand the present and future trends in this market and formulate
their strategies accordingly.