Alpha olefin demand to grow at CAGR of 4.2% uptil 2018 to reach 4.6 mln tons

20-Nov-13

Alpha olefin demand will grow with a CAGR of 4.2% from 2013 to 2018 and reach 4.6 million metric tons, as per marketsandmarkets.com. The Alpha Olefin Market is mainly driven by polyethylene application, which accounts for the largest consumption share of alpha olefins. Rising demand for co-monomers in the production of polyethylene and poly alpha olefins (used in synthetic lubricants) is driving the alpha olefin market. Along with polyethylene and poly alpha olefins (PAO), oil field drilling is also a growing application. The alpha olefin players are constantly looking for capacity expansions and new product development targeting new applications which in turn would increase their market shares. This market has a very few large players that are mainly in the alpha olefin business. Most of these players are local companies operating in specific areas and capturing insignificant market shares individually. Shell is the largest player of this market followed by CP Chem and Sasol.