Linear Alpha Olefins Market Size

Linear Alpha Olefins Market Size

Linear Alpha Olefins Market size was over USD 12.5 billion in 2016 and consumption may exceed 7 million tons by 2024. Positive application outlook in detergent alcohols, lubricants, oilfield chemicals, and plasticizers should drive the market demand. It is extensively used as co-monomers for polypropylene and polyethylene production, thereby favoring product demand.

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Polyethylene demand in packaging business was over USD 800 billion in 2016 and should witness significant gains owing to new packaging materials development. Rising linear low-density polyethylene (LLDPE) demand for its wide application usage in food packaging, shrink films, automotive, household products, and agriculture is likely to contribute towards the linear alpha olefins market growth.
 

Poly alpha olefins (PAO) segment is widely used in synthetic lubricants production. Synthetic lubricants business is expected to witness significant gains at over 3% by 2024. 1-Decene is a major PAO building block which finds application in automatic gearbox transmission fluids for automotive, turbine, and machinery due to lubricating properties with high viscosity index, high oxidative and thermal stability, low volatility, and high auto ignition points, thereby reducing engine friction, improving efficiency, and longer service life.
 

Growth of consumer goods and automotive industries may have a positive influence on oilfield drilling sector should drive linear alpha olefins market demand. Growing automotive sales along with rise in per-capita income should boost industry growth. Stringent policies for carbon emission in automotive industry may impact engine design and hinder overall industry growth.
 

Key raw material used in commercial production includes ethylene, C4 steam and syn-gas. Fluctuating raw material prices due to volatile crude oil & gas sector may hinder profitability and affect linear alpha olefins market price trend.