Internal Olefins Market Industry Insights, Trends and Forecast 2026

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Internal Olefins Market - Global Industry
Insight, Trends, Outlook, and Opportunity
Analysis 2017-2025

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REPORT DESCRIPTION
Global Internal Olefins Market Insights
Internal olefins are high-value chemicals,
produced by dehydrochlorination or chlorination
of linear paraffins. It is used in various
applications such as lubricants, oil drilling,
surfactants, and agrochemicals. Internal olefins
are valuable intermediate for processes such as
synthesis of linear alkyl benzenes and oxo
alcohols. It is also used during drilling mud,
paper sizing, and for lubrication-based
oil. Lubricants application segment is expected
to show a significant growth in global internal
olefins market in 2018. This is attributed to
increasing number of motor vehicles, as
lubricants reduce the friction between surfaces.
According to U.S. International Trade
Organization (ITA), in the U.S., the sales of
light vehicle reached 17.1 million units in 2017.
Also, the U.S. is the worlds second largest
market for production and sales of vehicles. Oil
drilling segment is the fastest growing
application segment in global internal olefins
market in 2018, owing to increasing number of oil
drilling activities. According to the U.S. Energy
Information Administration (EIA), around 330
units of crude oil rotary rigs were in operation
in June 2016, which increased to 861 units of
crude oil rotary rigs in July 2018, in the U.S.
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REPORT DESCRIPTION
North America held significant market share in
the global internal olefins market in 2017, owing
to increasing oil and gas exploration due to
shale gas revolution, which in turn expanded
drilling activities in the region. According to
the U.S. Department of Labor, Bureau of Labor
Statistics, production of shale gas in the U.S.
increased from 1.3 trillion cubic feet (Tcf) to
15.8 trillion cubic feet (Tcf) during 2007 to
2016. However, easy availability of internal
olefins substitutes such as poly-alpha-olefins is
expected to hinder growth of internal olefins
market. Furthermore, fluctuating prices of
ethylene is also hampering growth of the internal
olefins market. For instance, in December 2012,
the ethylene price was US 1175 per metric tons
and reached up to US 1265 per metric tons in
January 2013. The global internal olefins market
was valued at US 1.64 billion in 2017 and is
anticipated to register a CAGR of 4.7 in terms
of revenue, over the forecast period (2019
2026), to reach US 2.46 billion by
2026. Request sample Copy of this
Reporthttps//www.coherentmarketinsights.com/insi
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REPORT DESCRIPTION
Asia Pacific is the fastest growing region and
held the highest market share of 24 in 2017,
owing to increasing automotive production coupled
with increasing use of synthetic lubricants in
automotive application. According to the U.S.
International Trade Administration (ITA), in
2016, China was the worlds largest vehicle
market with the sales of over 28 million units.
The automobile output in China is expected to
reach 35 million units by 2025. Furthermore,
various key players are focused towards
increasing production of ethylene, the raw
material for manufacturing internal olefins,
which is a key factor for driving growth of the
internal olefin market. For instance, in April
2016, Korea Petrochemical Ind. Co., Ltd. (KPIC)
aimed to expand its ethylene production capacity
with the addition of 330,000 tons/year and its
current capacity reached up to 800,000
tons/year. Major players operating in the global
internal olefins market include, INEOS Group
Limited, Sasol Limited, Royal Dutch Shell plc,
Elevance Renewable Sciences, Inc., Chevron
Corporation, SABIC, Halliburton Company,
Schlumberger Limited, Shrieve Chemical Company,
and Idemitsu Kosan Co., Ltd. To Get Discount on
this Report https//www.coherentmarketinsights.co
m/insight/request-discount/2216
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