“We have produced a new premium report Olefin Market. The report covers the analysis of global as well as regional markets of Olefin. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Olefin Market by applications (polyethylene, synthetic lubricants, cosmetics, plasticizers, adhesives, and detergent alcohol), product type (1-butene, 1-hexane, 1-octene, 1-decene, 1-dodecene) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW.
The report covers market changing dynamics including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Olefin Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Olefin Market are Shell Chemical Ltd., Chevron Phillips, INEOS Oligomers, Sasol, Idemitsu Petrochemical, Sinopec Beijing Yanhua, ONGC, Exxon Mobil Corporation, and Saudi Arabia Basic Industries Corporation.”
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Increasing Olefin Demand from End Use Industries are Expected to Bring More Opportunities to the Global Olefin Market
The global olefin market was sized over USD 14.2 billion in 2015. The global olefin market is projected to reach USD 21.50 billion by 2023, growing with a CAGR of X.XX% from 2017 to 2023. The increasing demand for polyethylene is expected to be a prime factor driving the growth of global olefin market over the forecast period. Easy availability of ethylene, a key raw material used for olefin production will also drive this market. Furthermore, increasing environmental concerns regarding automotive production of olefin will drive the global olefin market over the forecast period. Moreover, fluctuating prices of raw materials needed for the production of olefin, government regulations on usage of polyethylene as well as increasing consumer awareness regarding environment hazards caused by polyethylene are the key factors restraining the growth of global olefin market. Growing demand for bio-degradable which forces manufacturers to focus on R&D for bio – based raw material development and over the forecast period.
Asia Pacific Region is expected to grow at the Highest CAGR over the Forecast Period due Increasing Demand of Polyethylene and Synthetic Lubricant Industries
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023.
North America was accounted to be the largest olefin producing region in the global olefin market. However, this region is expected to grow at lowest rate over the forecast period. Europe is expected to register moderate growth rate in the global olefin market over the forecast period due to stringent government regulations. Emerging economies like China, India, and Japan are expected to witness high growth rate over the forecast period in global olefin market due to increasing demand in end user applications such as polyethylene, detergent alcohol and synthetic lubricants. Furthermore RoW is anticipated to haves ubstantial growth in the global olefin market over the forecast period due to increasing consumer awareness and focus of manufacturers on untapped market region.