Linear Alpha Olefins Industry Trends, Analysis, Application & Type Forecast to 2024
Date: 2018-09-12   Author: Ronak Bora  Category: #market

Linear Alpha Olefins Market should exceed USD 19 billion by 2024; according to a new research report.

Growing polyethylene demand in packaging and other polymer industries should drive linear alpha olefins market. LAO is extensively used as copolymer in manufacturing high density polyethylene (HDPE) and low-density polyethylene (LDPE) which finds wide application in flexible packaging, food packaging, shrink films, automotive, household products and agriculture.

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Linear alpha olefins market from lubricant application should witness gains at over 3% during forecast timeframe. Increasing demand for PAO derived from LAO to produce synthetic lubricants should propagate linear alpha olefins market. These lubricants offer excellent balance of viscosity, pour point and oxidative stability reducing wear & tear while enhancing performance. Growth in automotive demand and production owing to rise in disposable income should propel product demand.

Stringent regulations pertaining to emission reduction in automotive industry forces engine to run hot pertaining to its design. PAO based synthetic lubricants containing 1-Decene as building block helps cooling off the engine which might propel linear alpha olefins market. Strict regulatory regimes on polyethylene usage along with presence of alternatives such as astungsten disulphide and development in nanoparticle based lubricants might hinder industry growth.

Shale oil & gas boom in the U.S. strengthened supply dynamics along with reduced prices for raw material. This empowered LAO manufacturers to shift their production units from Europe to North America. U.S. LAO market from oil field chemical application should generate revenues over USD 350 million by 2024. Growing energy demand along with positive outlook in upstream and downstream activities should drive linear alpha olefins market.

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Light chained olefins are extensively used in the production of polyethylene which acts as intermediate to manufacture HDPE and LDPE. 1-Octene and 1-Decene are widely used to commercially produce lubricants and plasticizers. They also provide a versatile range of polypropylene resins used in plastic industry driving product demand.  

Key raw material required for commercial production of LAO include ethylene, syn gas and C4 stream which are derived from crude oil. Fluctuating raw material prices ascribed to volatile crude oil market might affect linear alpha olefins price trends.  Competitive demand for these raw materials in other industry might create demand deficiency and impact product price trends.

Europe linear alpha olefins market led by France, Italy and Germany should grow at over 3.5% during foreseeable timeframe. This growth can be attributed to widely prevalent automotive OEM industries along with strict environment protection laws for emission control in the region.

China linear alpha olefins market will surpass USD 1.5 billion by 2024 pertaining to growing demand for polymer and plastic based products in electronics, electrical and other end-use industry. Supportive government policies towards use and production of polyethylene based products should drive regional industry growth.

Global linear alpha olefins market share is moderately fragmented with market participants including Shell, Sasol, Exxon Mobil, Chevron Phillips and INEOS. These players focus on strategic alliances, mergers and acquisitions to expand their production capacity along with regional presence.

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https://www.marketwatch.com/press-release/aerospace-maintenance-chemicals-market-in-north-america-to-grow-at-25-cagr-till-2024-2018-09-11



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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