The global linear alpha olefins market is anticipated to increase to USD 30 billion by 2031 from USD 12.5 billion in 2020, with a CAGR forecast of 16%. Linear alpha olefins are alkenes that form a double terminal bond with the first and second carbon atoms. Because of the double bond between the first and second carbon atoms, these olefines are useful in a variety of applications. Linear alpha olefins are used in the production of polymers, synthetic lubricants, synthetic acids, oilfield chemicals, detergent intermediates, and other products. Traditionally, ethylene and Fischer-Tropsch oligomerization were used to produce linear alpha olefins. Companies such as Chevron Phillips Chemical Company LLC, Sasol Limited, and Dow Chemical Company have recently developed olefin linear alpha olefin.    

Browse ThinkWise Intelligence's exclusive report, spread through 210 Pages on: GLOBAL LINEAR ALPHA OLEFINS MARKET, BY TYPE (1-HEXENE, 1-OCTENE), BY APPLICATION (POLYETHYLENE, DETERGENT ALCOHOL, SYNTHETIC LUBRICANTS) – COMPETITIVE LANDSCAPE & GROWTH POTENTIAL ANALYSIS, 2021-2031

1-HEXENE MARKET IS THE LARGEST TYPE IN THE GLOBAL MARKET

1-hexene is predicted to be the fastest rising product group over the projected years. The increased use of 1-hexene as a conventional monomer is expected to drive segment growth in high density polyethylene (HDPE) and linear low-density polyethylene (LLDPE) demand (LLDPE). Increasing demand for polyethylene is projected to propel the 1-hexen segment even further due to the automotive and consumer goods industries in China, India, and Brazil. It is also used as a rubber lubricant additive, which is likely to increase demand. As 1-dodecane is used in the manufacture of detergent alcohols, demand for 1-decane from industrial and household cleaners, as well as its use in personal care, will fuel growth in this product segment.

The demand for poly Alpha Olefin in the automotive sector, as well as the increasing demand for polyethylene in the packaging industry, are the primary factors driving the linear Alpha Olefin market. A growing LLDPE market in the packaging and construction industries is expected to drive up demand for linear alpha olefin. This encourages companies to increase their demand for linear alpha olefins. Rapid supply of raw materials is expected to improve demand for linear alpha olefin in the near future.

NORTH AMERICA LINEAR ALPHA OLEFINS MARKET IS ANTICIPATED TO HOLD THE LARGEST SHARE IN THE GLOBAL MARKET DURING THE FORECAST PERIOD

The global Linear Alpha Olefins industry can be categorized into North America, Europe, Asia Pacific, Middle East and Africa and South America based on geography. The three largest manufacturers of Linear Alpha Olefins are Chevron Phillips, INeos, and Shell (LAO). North America, Western Europe, and the Middle East all have significant companies. However, ethylene availability in Western Europe is likely to be limited, and LAO will continue to be manufactured using extractive distillation or full-range processes with little additional power. Larger LAOs are attracting investment in the Middle East and the United States. Rapid urbanization and industrialization in China and India are expected to drive demand for polyethylene products. The growth of the Asia Pacific manufacturing sector has been steered by various government incentives and favorable regulatory environments in China, India, Malaysia, and Indonesia.

Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, Petrochemicals (Malaysia) Sdn. Bhd, INEOS Oligomers, Mitsubishi Chemical Corp.  are just a few of the market's major players.