Global Linear Alpha Olefin Market Expected to Grow Exponentially Due to Increasing Use of Alpha Olefin in Automotive Industry

The global linear alpha-olefins market is expected to experience remarkable growth in the coming years. The increase in the use of alpha-olefin in the automotive industry is driving the growth of the market. The 1-Hexen sub-segment and Polyethylene manufacturing sub-segment are expected to dominate the market. The North American region is believed to dominate the market.

New York, USA, June 30, 2021 (GLOBE NEWSWIRE) – Research Dive added a report on the global linear alpha-olefins market to its repository. The report says the market is expected to reach $ 11,747.8 million and grow up with a 4.9% CAGR from 2019 to 2026. The report is an in-depth study presenting an in-depth examination of the current scenario and future prospects of the global market. The report is compiled by seasoned market analysts and guarantees to be a reliable source of data, recent trends and aggregate market information for new entrants, investors, existing market players, stakeholders, shareholders. , etc.

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Factors Affecting Market Growth:

A notable increase in the demand for polyethylene and the increasing use of alpha-olefin in the automotive industry is propelling the growth of the global storage refrigeration monitoring market. In addition, the increasing attention of leading companies, such as SASOL, INEOS and CPChem, on extracting raw materials from environmentally friendly products to reduce production as well as the cost of raw materials is expected to open rewarding opportunities for market growth during the forecast period. . However, the huge investments involved in sourcing the raw materials and producing the components are expected to hamper the growth of the global market.

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The report segments the global linear alpha-olefins market on the basis of product type, application, and region.

The 1-Hexen sub-segment will hold a leading market share

The 1-Hexen sub-segment of Product Types segment is expected to lead the market exceeding $ 2,678.5 million in revenue during the forecast period. This growth is mainly attributed to the increasing use of 1-Hexen due to its exceptional chemical properties.

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The Polyethylene Manufacturing Sub-Segment to Observe Continuous Growth

The polyethylene manufacturing sub-segment of the Applications segment captured the highest market share in 2018 and is expected to reach $ 4,909.4 million during the forecast period. This growth is mainly attributed to the increasing use of low density polyethylene (LDPE) in several industrial sectors.

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North America region to see rapid growth

The report analyzes the global linear alpha-olefins market across various regions including North America, Europe, Asia-Pacific, and LAMEA. Among these, the The North American region market is expected to witness significant growth with a CAGR of 3.6% during the estimated period. The growth of this regional market is mainly due to the presence of a large and diverse industrial base and the continuous developments of petrochemical and gas and oil infrastructure.

Main market players:

1. Qatar Chemical Company Ltd (Q-chem).
2. Chevron Phillips Chemical Company LLC
3. Mitsubishi Chemical Corp
4. Exxon Mobil Corporation
5. INEOS Oligomers
6. Petrochemicals (M) Sdn.Bhd,
7. Dutch royal shell
8. Evonik Industries
9. JAM petrochemical company

For example, in January 2019, Shell Chemical LP (Shell), one of the world’s leading chemical suppliers, announced the initiation of production of the fourth alpha olefins (AO) unit at its manufacturing site of chemicals from Geismar, Louisiana, United States.

The report also discusses many cutting edge tactics and approaches such as key strategic moves and developments, product / service range, business performance, Porter Five Forces analysis and SWOT analysis of major players operating in the market. global industry. Click here for a summary report on Top Business Development Strategies


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