Key players in the North America 1-hexene Market are Shell Chemical (U.K), ExxonMobil (U.S.), Evonik (Germany), and CP Chem (U.S.) & others.
(PRWEB) August 16, 2014
1-Hexene is an organic compound with the formula C6H12. 1-Hexene is a colorless liquid. It is classified as a high olefin and is one of the industrially significant linear alpha olefins. C6 is mainly used as co-monomer of HAO-LLDPE and HDPE (high-density polyethylene). It may also be used as an intermediate to produce mercaptans, oxo alcohols, organic aluminum compounds, and synthetic fatty acids. 1-hexene is a critical component used to produce polyethylene, a plastic resin commonly converted into film, plastic pipe, milk jugs, detergent bottles, and food & beverage containers. 1-Hexene is commonly manufactured by general methods such as full-range processes through the oligomerization of ethylene and on-purpose technology.
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In the North American region, there is huge consumption potential, growing production capacities, competitive manufacturing costs, and high economic growth rates that are favorable forces for the growth of the 1-hexene market. North America is expected to be a highly lucrative market for polyethylene. The key countries in the North American market are the U.S., Canada, and Mexico. Canada and Mexico have shown promising growth rates for polyethylene consumption, and the trend is expected to continue in the coming years. North America captures the largest share of the global demand. The North American 1-hexene market is the most dominant player in the global market, in terms of production and consumption of alpha olefins.
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The C6 alpha olefin (1-hexene) demand in North America was 390 thousand MT in 2013, which is expected to reach 482 thousand MT by 2018. The market growth in this region is an outcome of the increasing demand from end-user industries, such as polyethylene co-monomers. The U.S. dominated the North American 1-hexene market with a share of nearly 85% of the total market, followed by Canada and Mexico, with 8% and 7% of the market, respectively.
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Asia-Pacific 1-hexene Market
Globally, the Asia-Pacific 1-hexene market ranks second with respect to demand. The key countries in the Asia-Pacific market include China, India, Japan, and South Korea. China and India have shown a promising demand for 1-hexene, and this trend is expected to continue in the coming years. Asia-Pacific accounted for a market share of 14.6% of the total demand generated by the polyolefin demand in 2013. Asia-Pacific’s 1-hexene demand is projected to reach 195 thousand MT by 2018.
Europe 1-hexene Market
Despite the economic downturns in the region, the European chemical industry is still in a strong position. More than half of the chemical sales in Europe are that of petrochemicals and polymers, experiencing a continuous rise of share in sales among all chemicals. Europe is the third-largest market for 1-hexene, with a major contribution from Germany. The European 1-hexene market has matured, and therefore, the growth in future is expected to be lower than that seen in the past.
The key countries in the region include Germany, France, Italy, and the U.K., together accounting for a major share of the European 1-hexene market, in terms of volume, in 2013. Europe’s 1-hexene demand is projected to reach 180 thousand MT by 2018. The European region is expected to experience slow growth in the next five years, owing to the mature nature of the market and the prevalent impacts of the global meltdown of 2008.
Middle East 1-hexene Market
The Middle East is one of the important regions in terms of production and consumption of 1-hexene. The region is characterized by continuous technical innovations in various segments of the 1-hexene industry, owing to the presence of a few top regional players. The Middle East & Africa 1-hexene demand is projected to reach 195 thousand MT by 2018. Therefore, the Middle East is emerging as a major producer of polyethylene and is subsequently expected to become a major exporter of polyethylene, which in turn would increase the overall demand of 1-hexene in the market. The Middle East accounted for a market share of 12.4% of the total demand generated by the 1-hexene demand in 2013. The major players in the region include Saudi Basic Industries Corporation (Saudi Arabia), and Qatar Chemical Company Ltd. (Qatar).
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