The global alpha olefin market was US$ 10.8 billion in 2021. The global alpha olefin market is forecast to grow to US$ 17.1 billion by 2030, registering a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030. 

Alpha-olefins are alkenes (also known as olefins) having a chemical formula CxH2x. They are used to produce amines and amine oxides, alkylated aromatics, lubricant additives, oxo alcohols, epoxides, tanning oils, synthetic lubricants, alpha-olefin sulfonates, and synthetic fatty acids.

Factors Influencing the Market

• The rising demand for PAO-based synthetic lubricants is forecast to fuel the growth of the global alpha olefin market. The demand for PAOs is increasing rapidly because they possess high viscosity index, oxidative stability, thermal stability and are compatible with mineral oils. Thus, all of these features will contribute to market growth. 
• Increasing R&D investments are forecast to benefit the global alpha olefin market during the forecast period. Several research laboratories and universities have adopted a new concept for producing alpha-olefins. As a result of growing advancements, the global alpha olefin market will grow significantly. 
• The increasing number of partnerships and product launches are forecast to benefit the market. In June 2019, INEOS Oligomers signed a pact with Saudi Aramco and Total, France. The partnership intends to build three new plants in Saudi Arabia. 
• High costs associated with the raw material may hamper the growth of the global alpha olefin market during the study period. 

COVID-19 Impact Analysis

The demand for soap and detergents increased rapidly during the COVID-19 pandemic. As a result, the demand for alpha olefin also increased. During the pandemic, it became necessary for the worldwide population to look over hygiene. Thus, the market players witnessed a sharp increase in the demand for alpha-olefin. 

Regional Analysis

North America is forecast to hold the highest share in the global Alpha Olefin market. The growth of the region is attributed to the vast and varied industrial base. In addition, the growth of the oil & gas and petrochemical infrastructure in the U.S., Canada, and Mexico are forecast to benefit the regional Alpha Olefin market during the study period.

The Asia-Pacific region is expected to witness significant growth in the global alpha olefins market. Alpha olefins are in high demand in emerging countries like India, China, South Korea, Japan, and Southeast Asia. China is also the largest producer of lubricants, oil field chemicals, plasticizers, and other products in the global market. Thus, it will contribute to the growth of the Asia-Pacific alpha olefins market during the forecast period. 

Competitors in the Market

• Royal Dutch Shell
• Chevron Phillips Chemical Company 
• Ineos 
• SABIC
• Sasol 
• Evonik Industries
• The Dow Chemical Company
• ExxonMobil
• PJSC Nizhnekamskneftekhim
• JAM Petrochemicals Company
• Other Prominent Players

Market Segmentation

The global alpha olefin market segmentation focuses on Type, Application, and Region. 

By Type

• 1-Butene
• 1-Hexene
• 1-Octene
• 1-Decene
• 1-Dodecene

By Application

• Polyolefin Comonomers
• Surfactants and Intermediates
• Lubricants
• Fine Chemicals
• Plasticizers
• Oil Field Chemicals
• Others

On the basis of Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America