Olefin Market Expected to Reach USD 19.8 Billion by 2024
According to Goldstein Research, global olefin market is anticipated to reach USD 19.8 billion by the end of 2024, growing at a CAGR of 4.8%. The augmenting demand from food & beverages industry for the high-quality packaging materials is primarily propelling the growth of the global olefin market. 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). Polyethylene is an important component of packaging materials. Rising demand for consumer goods and its packaging materials by different industries increased polyethylene market size.
Further, based on geography, global olefin market acquires a major market share in North America with 36.0% share of total production. But with a huge expansion of the food & beverages industry and packaging industry in Asia Pacific region, the olefin market tends to grow at fastest CAGR in APAC region, over the forecast period.
Global Olefin Market can be segmented as follows:
By Product Type
- Others (Tetradecene etc.)
- Detergent Alcohol
- Synthetic Lubricants
- Others (Waxes etc.)
- North America Olefin Market Analysis, 2016-2024
- Global Olefin Market Analysis, 2016-2024
- Middle East And Africa Olefin Market Analysis, 2016-2024
- Latin America Olefin Market Analysis, 2016-2024
- Asia Pacific Olefin Market Analysis, 2016-2024
- Rest Of The World Olefin Market Analysis, 2016-2024
Based on application, the present cosmetics market is changing its course and is witnessed to be growing with the increasing adoption of natural & organic ingredients based products. The market share of chemical-based cosmetics is still large but over the forecast period (2017-2025) it is expected to fall by a huge margin, to be compensated by the natural/organic cosmetic products.
Moreover, as olefin resembles the properties of stain repellent and high tensile, its demand is witnessed to be increasing from the automobile industry to automotive interior materials market which is getting fuelled due to the usage of advanced composites and alloys.
“Global Olefin Market Outlook 2024” includes a comprehensive overview of the global olefin market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, application, and geography.
The Global Olefins Market Analysis Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The comprehensive analysis of olefin market report is drafted as per the clients to help them in assessing their business strategies in the competitive environment.
Major players of the global olefin market analyzed in the report are Shell Chemicals Ltd., 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, etc.
Further, Global Olefins Market Report encompasses the key factors driving the growth of the market, opportunities in the market and the factors posing threats & challenges to the market. The Olefin Market Outlook also comprises the market dynamics, risk analysis, SWOT analysis, USP analysis, BPS Analysis & market attractiveness. Report further also includes the expert analysis and remarks showcasing the complete overview of the market based on intensive analysis of political, economic, social, technological, environmental & legal factors of each region in the market.
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