(PRWEB) July 25, 2014
An alpha olefin is an olefin or an alkene with a double bond, located on the primary or alpha position of the carbon chain, or between the 1st and 2nd carbon atom. There are two types of alpha-olefins, namely, branched and linear (or normal). The alpha olefin market is a vital market, owing to the ample scope of its applications such as polyethylene co-monomers and synthetic lubricants, across a wide range of industries.
North America and Europe have been lucrative markets for alpha olefins; however, Asia-Pacific has emerged as a major consumer, due to the increasing demand from the export-based industry development and demand from the growing domestic front due to a rise in living standards.
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The global alpha olefin market is estimated to grow from $7,472 million in 2013 to $9,589 million by 2018. In 2013, the alpha olefin market was dominated by the North American region, with a share of 44.7% of the alpha olefin market, in terms of volume. Europe was the second largest consumer of alpha olefins, which represented nearly 21.6% of the share of the global consumption, followed by Asia-Pacific that accounted for 14.6% of the alpha olefin market in 2013.
The alpha olefins market for emerging economies of the world is expected to grow at faster growth rates, while the market in matured economies is expected to grow at modest rates.
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The European alpha olefin market has matured, and therefore the growth in future is expected to be lower than that seen in the past. 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.
The key countries in the region include Germany, France, Italy, and the U.K., together accounting for a major share of the European alpha olefin market, in terms of volume, in 2013. Adverse market forces such as high fluctuation in raw material prices, rising manufacturing costs, and firm competition from Asia-Pacific producers can affect the competitiveness of the European manufacturers.
Browse through the market data tables, figures and detailed ToC on the “Europe Alpha Olefins Market”.
Asia-Pacific Alpha Olefins Market
Globally, the Asia-Pacific alpha olefin 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 promising demand for alpha olefin and the demand is expected to increase in the coming years. The Asia-Pacific region accounted for a market share of 14.6% of the total demand generated by the alpha olefin demand, in 2013. By 2018, the region is expected to account for about 16.0% of the total demand. In countries such as China and India, there is not only strong demand growth for petrochemicals in general, but also an increased need for more sophisticated products that would ultimately contribute towards the growth of alpha olefins.
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