Key players in the North America 1-octene Market are Shell Chemical (U.K), ExxonMobil (U.S.), Evonik (Germany), CP Chem (U.S.) & others.
(PRWEB) August 17, 2014
1-Octene is a colorless, flammable liquid with a pleasant, sweet odor. 1-Octene is used as an intermediate (monomer) to manufacture polyethylene resins. 1-Octene is used as an industrial intermediate, primarily to produce polyethylene resins. Small amounts of 1-octene may be used to synthesize other chemicals. 1-octene is commonly manufactured by two main methods, namely, oligomerization of ethylene and by Fischer-Tropsch synthesis, followed by purification. The demand for C8 (1-octene) alpha olefin was 832 thousand MT in 2013, and is expected to reach 1,014 thousand MT by 2018.
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In the North American region, huge consumption potential, growing production capacities, competitive manufacturing costs, and high economic growth rates are the favorable forces for the future growth in the 1-octene market. The North American 1-octene market is a dominant region, in terms of production and consumption of alpha olefins. North America is expected to be a good 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 this trend is expected to continue in the coming years.
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The demand for C8 alpha olefin (1-octene) in North America was 407 thousand MT in 2013, and is expected to reach 497 thousand MT by 2018. The U.S. dominated the North American 1-octene market, with a share of nearly 85% of the total market, followed by Canada and Mexico, with 8% and 7% of the market, respectively. The region is characterized by continuous technical innovations in various segments of the 1-octene industry, with the presence of a few top regional players.
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Europe 1-octene 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 second-largest market for 1-octene, with a major contribution from Germany. The European 1-octene market has matured, and therefore, the growth of this market 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 the major share of the European 1-octene market, in terms of volume, in 2013. The demand in Europe for 1-octene is projected to reach 189 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.
Asia-Pacific 1-octene Market
Globally, the Asia-Pacific 1-octene market ranks third, in terms of 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-octene, and this trend is expected to continue in the coming years. Asia-Pacific accounted for a market share of 14.6% of the global demand generated in 2013. The demand for C8 alpha olefin (1-octene) in Asia–Pacific was 116 thousand MT in 2013, and is expected to reach 155 thousand MT by 2018. The region is expected to grow significantly, at a strong growth rate, in the coming years.
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