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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.
Figure 1: Global Olefin Market by Value 2015 - 2023
Market Insights
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.
Segments Covered:
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
North
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.
Companies Profiled:
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.
Report Highlights:
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 olefin.
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.
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