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Internal olefins market to gain immense traction across the U.S personal care and household cleaning product industry

Author : Ravi Chawat | Published Date : 2020-10-16 

Internal olefins market to carve out a profitable growth path over 2017 to 2024. It is noteworthy to mention that prominent features and characteristics like toxicity level, impressive human safety benefits, and biodegradability offered by internal olefins have prompted several personal care manufacturers to considerably opt for these products. Some of the important parameters highlighting the same are the product’s high chemical stability, and robust water solubility properties. Apparently, these merits have promoted the product’s growing traction across the U.S personal care and household cleaning product industry.

As per Global Market Insights, Inc., internal olefins market is poised to account for revenue share of USD 2 billion by the end of 2024, given its use for pharmaceuticals, surfactants, automotive, and agrochemical applications. 

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Shifting preference towards synthetic lubricants over its counterparts is expected to accelerate internal olefins market size. Automobile companies worldwide are using synthetic base fluids like internal olefins for enhancing performance as well as fuel efficiency of vehicles. These fluids exhibit several properties such as thermal stability, biodegradability, and lubricity which help in reducing sludge formation in vehicle engine.

Robust growth in the automotive industry, particularly in India, Brazil, and China, has accelerated internal olefins market share. The product is extensively used for making automotive and industrial lubricants that meet mandatory compliances implemented by the EPA and REACH.

Industries and manufacturers are adopting internal olefins as synthetic oil base stock to maintain cost ratio and performance. As per estimates, the internal olefins market from lubricants application segment is expected to surpass USD 350 million by 2024. Apart from this, internal olefins are also being used for drilling, pharmaceutical, and surfactants applications, which could further influence its business share.

Some of the intrinsic features of these fluids is that they favor exceptional well-ore stability, solidity at high temperature, and lubricity. In line with these, these fluids also play a pivotal role in soundproof drilling operations, which is expected to majorly influence the internal olefins market size in the near future.

Internal olefins market is expected to record lucrative proceeds from the U.S. Increasing oil & gas exploration activities has led to the development of drilling platforms.

The usage of internal olefins in drilling operations sufficiently decreases its environmental impact, whilst offering excellent lubricity, well-bore stability, and thermal stability. With this, estimates claim that the U.S. internal olefins market could surpass USD 750 million by 2024.

Studies suggest that the internal olefins market from pharmaceutical applications may surpass USD 100 million by 2024. Internal olefins are extensively used as pharmaceutical intermediates. It offers better surface activity as compared to other terminal olefins. Pharmaceutical intermediates are mixed with other chemicals to develop medicines for several diseases.

Browse More News:

https://www.globenewswire.com/news-release/2020/03/24/2005379/0/en/Pretreatment-coatings-market-slated-to-surpass-15-5-billion-by-2026-Says-Global-Market-Insights-Inc.html

https://www.prnewswire.com/news-releases/humic-acid-market-to-reach-1-4-billion-by-2026--says-global-market-insights-inc-300981262.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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