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Market Research Report

Olefin Market Outlook 2024: Global Opportunity and Demand Analysis, Latest Insights, Market Forecast, 2016-2024

Published On : 2017-10-11 Report Page : 235 Category:Chemicals Minerals & Materials

Global Olefin Market

Market Overview

Olefin is a derivative from crude oil and considered to be the important component of chemical industry. Ethylene and propylene are the key forms of olefins, with global production of 15 million tons and 8 million tons annually. Olefins are majorly used in our day to day life such as plastics, fibers and other polymers. Linear alpha olefin is also a form of olefin, which are majorly used to manufacture synthetic acids, detergent intermediates, polymers and lubricants. Linear alpha olefin is a versatile component used in manufacturing of important chemical products like low density polyethylene (LDPE) and high density polyethylene (HDPE). Rising demand for consumer goods and its packaging materials by different industries increased the demands of LLDPE. Growing packaging industry has significantly raised the demand for olefins, which is expected to drive the growth of Linear-alpha olefin market. Also, availability of raw materials in abundance for olefin production is also anticipated to foster the olefin market growth. The growth of consumer goods industry and automobile industry is expected to drive the growth of global olefin market. The global packaging was valued more than USD 500 billion in 2016 in which consumer packaging category consist more than 34% revenue share. 

Market Segmentation

  • By Product Type
  • 1-Butene
  • 1-Hexane
  • 1-Octene
  • 1-Decene
  • 1-Dodecene
  • Others (Tetradecene etc.)
  • By Applications
  • Polyethylene
  • Detergent Alcohol
  • Synthetic Lubricants
  • Plasticizers
  • Cosmetics
  • Adhesives
  • Others (Waxes etc.)
  • By Geography
  • North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}
  • Rest of the World{Market Share (%), Market Size (USD Billion)}

Growth Drivers and Challenges

Rising global population significantly contributes to the growth of Food and beverage industry which highly demands for the packaging materials. Thus, augmented demand for packaging materials fuelled the growth of olefin derivatives used in manufacturing of high quality packaging materials. Packaging material sales in emerging markets are expected to continue to showcase strong growth as increased consumption and demand f0r consumer goods considerably drives the need for more refined packaging owing to growing middle class. The Brazil, Russia, India and China (BRIC) markets shares approximately 30% of global demand for packaging material. Growing automobile industry also demands for the high quality olefin used to manufacture interiors of automobiles, as it resembles the properties of stain repellent and high tensile. In 2016, approximately 90 million vehicles were produced globally and this figure is expected to increase in coming years with nearly 4% annual growth rate.

However, stringent environmental regulations regarding the production and manufacturing of crude oil bi-products remains a key challenge for the industry. Volatility in the prices of raw materials for the production of olefins and related high investments may affect the growth adversely. Substitutes such as nano-particle based lubricants and astungsten disulphide may hinder the growth of global olefin market.     

Market Size and Forecast

The global olefin market accounted for USD 14.5 billion in 2016 and expected to reach USD 19.8 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at compound annual growth rate of 4.8% over the forecast period i.e. 2016-2024.

Global olefin market demand was approximately 3,987.5 kilo tons in 2015 and is expected to reach 6,575.0 kilo tons by 2024, growing at a CAGR of 4.1% during 2016-2024. Geographically, North America dominated the global olefin market in 2016 and accounted for more than 36% of total production in 2016. However, it is expected to register slower growth rate over the forecast period. Europe olefin market is also anticipated to register sluggish growth rate on account of polyethylene market owing to stringent environmental regulations. Asia Pacific region is projected to witness highest growth rate of more than 5.2% from 2016-2024. Rising construction activities owing to rapid urbanization coupled with growth of automotive industry particularly in Indonesia, China and India expected to drive the regional olefin market growth.

Key Market Players

  • Shell Chemicals Ltd.
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
  • ONGC
  • The Dow Chemical Company
  • Chevron Phillips Chemical Company
  • Sasol
  • INEOS
  • The Linde Group
  • Qatar chemical Company Ltd.
  • Idemitsu Petrochemicals
  • Sinopec Beijing Yanhua
  • ExxonMobil
  • SABIC
  • Mitsubishi Chemicals

Scope Background

Market Synopsis

Market Segmentation

Global olefin market is segmented as follows:

  • By Product Type (Market Size, Demand Analysis and Growth Analysis)
  • By Application Type (Market Size, Demand Analysis and Growth Analysis)

Global Olefin Market Report covered insights of below mentioned regions:

  • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

  • Risk Factors
  • Regional Variations
  • Recent Trends and Developments

Key Market Players

  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks


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Olefin Market Outlook 2024: Global Opportunity and Demand Analysis, Latest Insights, Market Forecast, 2016-2024

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