COVID-19 Impact Analysis and Forecast growth of Linear Alpha Olefins Market
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As per the latest report published by Research Dive, the global linear alpha olefins market is set to grow further due to the rising requirement of olefin material and the utilization of polyethylene by the automobile sector. Alpha olefin upon being processed produces multiple by-products such as lubricants, plasticizers, surfactants and oil chemicals. These products are used in the maintenance and servicing of automobile spare parts which are then implemented into other vehicles to ensure their longevity
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On the other hand, the 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 of the dedicated industry such as pharmaceutical, cosmetics and more. The fact that alpha olefins are the most dominant and easiest sources that can provide such an extensive variety of raw materials is set to help the market grow further. The prices of ethylene are set to rise in the future which will also lead to increased prices of raw materials. Hence, several organizations such as INEOS, CPChem, and SASOL are constantly working on developing eco-friendly products.By doing so, the cost of production involved in the extraction of raw material and the prices of the raw material itself could decrease. This will also close the supply demand gap which is one of the primary factors leading to the swift growth of the market.
The North American region’s market share in 2018 stood at 36 % with revenue of $3,395.1 million and is expected to rise further at a CAGR of 3.6% in the analysis period. The region comprisesof multiple industries that work on the development of gas, oil and petrochemical infrastructure, and also has large deposits of natural resources. These factors are expected to help in the rapid growth of the market.
Global Market Estimations
The latest report by Research Dive states that the global linear alpha olefins market is set to experience a rise in revenue from $8,012.0 million in 2018 to $11,747.8 million by 2026 at a steady CAGR of 4.9% during the forecast period. The report is also comprised of a detailed account of all the recent updates such as product launches, strategic partnerships, research work as well as mergers and acquisitions.
Major Market Players
The market contains multiple 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 Petrochemicals Company, Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, Petrochemicals(M) Sdn.Bhd, and Evonik Industries.
About Us:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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