Alpha Olefin Market is Poised to Reach 4.6 Million Metric Tons by 2018 – Report by MarketsandMarkets

Alpha Olefin Market is anticipated to grow at a compound annual growth rate of 4.2%, over the next five years and reach 4.6 Million metric tons by 2018.

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Key Players in the Market: Chevron Phillips Chemical Company LP (U.S.), Evonik Industries AG (Germany), ExxonMobil Chemical Company (U.S.), Godrej Industries Ltd. (India), Idemitsu Kosan Co. Ltd. (Japan), Ineos Oligomers (U.S.)

(PRWEB) August 18, 2014

The report "Alpha Olefin Market By Type, & Applications - Global Trends & Forecast To 2018", defines and segments the global alpha olefin market with analysis and forecasting of the global volume and revenue. Alpha olefin demand will grow with a CAGR of 4.2% and reach 4.6 Million metric tons.

Browse 84 market data tables and 22 figures spread through 173 pages and in-depth TOC on "Alpha Olefin Market".
http://www.marketsandmarkets.com/Market-Reports/alpha-olefin-market-1282.html

The alpha olefin market is mainly driven by polyethylene application, which accounts for the largest consumption share of alpha olefins. Rising demand for co-monomers in the production of polyethylene and poly alpha olefins (used in synthetic lubricants) is driving the alpha olefin market. Along with polyethylene and poly alpha olefins (PAO), oil field drilling is also a growing application.

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The alpha olefin players are constantly looking for capacity expansions and new product development targeting new applications which in turn would increase their market shares. This market has a very few large players that are mainly in the alpha olefin business. Most of these players are local companies operating in specific areas and capturing insignificant market shares individually. Shell is the largest player of this market followed by CP Chem and Sasol.

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The report forecasts volume and revenue of the global alpha olefin market and its various submarkets with respect to the main regions such as North America, Europe, Asia-Pacific, Middle East, and Rest of the World. Major countries such as U.S., Canada, and Germany were analyzed.

The report segments the global alpha olefin market by type, application, and geography. It also focuses on market share analysis, and market metrics such as drivers, restraints, and opportunities. Top and local players in the global alpha olefin market have been identified and profiled.

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A new concept to produce alpha olefins from biomass is being practiced by various research laboratories and universities. The Center for Biorenewable Chemicals (CBiRC), an NSF-funded Engineering Research Center (U.S.), showcased that the medium chain length free fatty acids can be produced by E.coli using sugars as a carbon source. Though bio-based alpha olefins are under research and development, they are likely to gain momentum in the next decade.

The alpha olefin market is a highly concentrated market with a few market players. The major players in the market compete on various parameters such as technical innovation, production capabilities, performance, quality, geographic reach, etc. The major players in the markets are Evonik Industries (Germany), Chevron Phillips Chemical Company LP (U.S.), Ineos Oligomer (U.S.), Sasol (South Africa), and Shell Chemical Limited (UK)). The U.S. market will continue to dominate the market since a number of players such as Exxon Mobil and CP Chem are expanding their capacities in the U.S. for poly alpha olefin and alpha olefin respectively. Moreover, Japanese players such as Mitsui Chemicals and Idemitsu plan to build their alpha olefin plants in the U.S.

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