According to the latest report by IMARC Group, titled “Linear Alpha Olefins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global linear alpha olefins market size reached US$ 9.5 Billion in 2019. Linear alpha olefins (LAOs) refer to alkenes with a terminal double bond at the first carbon atom of the chain. The double bond determines the chemical properties and reactivity of the compound. These unbranched alkenes, with the chemical formula CXH2X, are either produced by Fischer-Tropsch synthesis, followed by purification, or by the oligomerization of ethylene molecules in the presence of a solvent and catalyst. They are generally used as co-monomers for manufacturing polyethylene, inks, waxes, plastic packaging, cosmetic emollients, color concentrates, and high-performing engine and industrial oils. They can also be tailored to meet individual specifications and provide vast options for new chemical development.
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Global Linear Alpha Olefins Market Trends:
The market has been primarily driven by the growing demand for polyethylene (PE) from numerous industry verticals. LAO is used as co-monomers in the production of linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE). These plastics are extensively adopted in the construction, automotive and packaging industries as an indispensable component for numerous application segments, which is creating a positive outlook for the market. Apart from this, several key players are utilizing innovative and advanced technologies to increase productivity and cost-efficiency of the olefins. They are also focusing on the testing and development of bio-based alpha olefins to minimize waste generation, which is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the easy availability of raw materials and the growing usage of LAO in pulp and paper production. On account of the aforementioned factors, the market is projected to reach a value of US$ 12.6 Billion by 2025, exhibiting a CAGR of 4.9% during 2020-2025.
- On the basis of the type, the market has been divided into butene, hexene, octene, decene, dodecene, tetradecene, hexadecene, octadecene, eicosene, and others.
- Based on the end-use, the market has been classified into LLDPE, detergent alcohols, HDPE, lubricants LDPE and others.
- On the geographical front, the market has been segregated into North America, Middle East, Western Europe and South Africa, and others.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the market. Some of these players include Shell International B.V., Chevron Phillips Chemical Company LLC, INEOS AG, Sasol LTD, The Dow Chemical Company, and Exxon Mobil Corporation.
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