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Alpha Olefins Market Top Manufacturers, Company Profiles, Growth Factors, Global Industry Overlook during Forecast Period 2019-2023
Jan 11, 2019 (AB Digital via COMTEX) --

Market Information:

Alpha Olefins are predominantly utilized in various applications such as plasticizer, lubricant, drilling machinery fuel, surfactant, polyolefin co-monomer, and others. Alpha Olefins market is predicted to witness strong due to growing demand from automobile sector, rapid industrialization, and increasing demand from construction sector.  In addition, among the end use application segment polyolefins co-monomer accounted for the largest market share in 2016 and holds for around 29% market share due to their wide usage in automotive application, industrial applications, household and packaging applications. Furthermore, increasing demand in numerous application segments due to their versatility, recyclability, and low cost is predicted to propel the polyethylene market. The lubricant segment is expected to register healthy growth on account of increasing demand from automotive and industrial sector. Furthermore, rising population combined with the increasing need of infrastructure development is predicted to fuel the growth of the market.

Competitive Landscape and Key Players:

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Geographically, Asia Pacific emerged as the largest market for alpha olefins followed by Europe and North America. The Asia Pacific alpha olefins market is estimated to witness significant growth with a healthy CAGR over the assessment year on account of rising demand from automotive and packaging industries. Moreover, the demand for alpha olefins is predicted to rise in numerous countries of Asia Pacific such as China, India, Thailand, Malaysia, Japan, Australia, and South Korea on account of rising building & construction activities combined with high adoption rate from various end use industries. Apart from this, rising investment by key market players in their innovation and research & development activities and shifting of alpha olefins manufacturing unit in this region is predicted to fuel the alpha olefins regional market growth. North American market is expected to witness steady growth due to rising demand for alpha olefins based lubricants and plastics which is further utilized in many industries. North American market is further classified into U.S. and Canada, among them U.S. is expected to be the major contributor in the regional market growth on account of robust growth of automobile and increasing oil drilling sector. European market is estimated to witness moderate growth due to increasing awareness regarding the benefits associated with the product as well as growing purchasing power of consumer. In addition, developing countries of Latin America and the Middle East & Africa are estimated to witness above average growth due to strong consumer base for automobile and construction sector.

Detailed Regional Insights:

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Drivers and Restraints:

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