COVID-19 Activity Report: The Impact and Future Role of the Linear Alpha Olefins Market – KSU
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According to the latest report published by Research Dive, the global linear alpha-olefins market is expected to continue to grow due to the increasing demand for olefinic materials and the use of polyethylene by the automotive sector. Alpha-olefin, when processed, produces multiple by-products such as lubricants, plasticizers, surfactants, and petroleum chemicals. These products are used in the maintenance and servicing of automotive spare parts which are then implemented in other vehicles to ensure their longevity.
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On the other hand, linear alpha-olefins are responsible for products such as plasticizer alcohol, polyethylene and detergent alcohol. Several industries use these raw materials to create the finished product for dedicated industry such as pharmaceutical, cosmetic and more. The fact that alpha-olefins are the most dominant and easiest sources that can provide such a variety of raw materials should help the market to develop further. Ethylene prices are expected to increase in the future, which will also lead to higher raw material prices. Thus, several organizations such as INEOS, CPChem and SASOL are constantly working on the development of environmentally friendly products. By doing so, the production cost involved in extracting the raw material and the prices of the raw material itself could decrease. It will also help to bridge the gap between supply and demand which is one of the major factors leading to the rapid growth of the market.
The North American region market share in 2018 was 36% with revenue of $ 3,395.1 million and is expected to further increase at a CAGR of 3.6% during the period of ‘analysis. The region includes multiple industries working to develop gas, oil and petrochemical infrastructure, and also has significant deposits of natural resources. These factors are expected to contribute to the rapid growth of the market.
Global market estimates
The latest report from Research Dive Says Global Linear Alpha Olefins Market Expected To Increase Revenue From $ 8,012.0 Million In 2018 To $ 11,747.8 Million By 2026 At A Stable CAGR Of 4.9% during the forecast period. The report also includes a detailed account of all recent updates such as product launches, strategic partnerships, research as well as mergers and acquisitions.
Major market players
The market contains several key players who have worked on several initiatives to help the market grow. Some of them are Qatar Chemical Company Ltd (Q-chem), Mitsubishi Chemical Corp., INEOS Oligomers, Royal Dutch Shell, JAM petrochemical company, Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, Petrochemicals (M) Sdn.Bhd, and Evonik Industries.
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Research Dive is a market research company based in Pune, India. By preserving the integrity and authenticity of the services, the company provides services only based on its proprietary data model, constrained by the 360-degree research methodology, which guarantees a complete and accurate analysis. With unprecedented access to multiple paid data resources, a team of expert researchers, and a strict work ethic, the company delivers extremely accurate and reliable information. By reviewing relevant press releases, government publications, decades of business data, and technical and white papers, Research Dive delivers the services it needs to its clients on time. Its expertise is focused on examining niche markets, targeting its key drivers and detecting looming obstacles. Complementarily, he also maintains a transparent collaboration with the great aficionado of the industry, which offers an additional advantage to his research.
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