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Linear Alpha Olefins Market Size 2024 Evolution Opportunities, Demands and Growth Revenue

Author : Ronak Bora | Published Date : 2019-05-30 

Linear alpha olefins market demand from HDPE application should grow steadily surpassing USD 2.4 billion by 2024. Growing HDPE demand in film and injection molding applications owing to its superior impact & puncture resistance and high tensile strength should boost product demand over the forecasted timeframe.

Companies focusing on development of bio based products to reduce dependency on fossil based raw materials should have positive impact on market growth. Growing R&D expenditures to formulate renewable products and reduce environmental impact should favor industry growth. Increasing investments on to enhance manufacturing process technology for high quality products should surge linear alpha olefins demand.

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Key feedstock required for commercial LAO production include ethylene, syn-gas and C4 steam. Fluctuating crude oil index coupled with procurement risk associated with transportation & handling of raw material may challenge industry profitability and impact linear alpha olefins market price trends. However, technological innovations in production process to produce sustainable products should propel industry growth.

1-Octene based linear alpha olefins market size must witness growth at over 3.5% by 2024 owing to strong application outlook in polyolefin elastomers production. These elastomers are used for components of automotive interiors and flexible packaging. These materials replace EPDM and EVA on accounts of low production cost and availability.

Europe, led by Germany, France and Italy linear alpha olefins market size, is estimated to show steady growth rates and surpass 1.5 million tons by 2024. Increasing production and sales of automobiles coupled with presence of big automotive production companies should favor industry growth.

Increasing environmental concern towards harmful automobile emissions supported by strict automobile emission control policies set by government should boost synthetic lubricants demand thereby driving market demand.

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Easy accessibility, consistent supply and low cost of key raw material, ethylene for production owing to shale gas exploration activities mainly in U.S. and Europe should stimulate linear alpha olefins market growth. Increasing petrochemicals demand along with development of enhance drilling techniques has led to rise in shale gas extraction thereby driving linear alpha olefins market growth.

Global linear alpha olefins market share is fragmented with key industry participants including INEOS, Shell, Chevron, Sasol, Idemitsu, Jam Petrochemical and Evonik Industries. Participants focus on expanding their regional presence, product portfolio and technology through partnerships, mergers and acquisitions.
 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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