The Alpha Olefins Market value is expected to rise from US$ 7.6 billion in 2024 to US$ 13.5 billion by 2034. The market is expected to grow at a CAGR of 5.90% over the next decade.
Sales of alpha olefins are predicted to surge on account of the growing demand for polyethylene, which is used in multiple applications like industrial processes, packaging, consumer goods, and others.
Product developers with cost and design targets opt for alpha olefin sulfonates (AOS) based formulations as they can be adjusted to function well with common secondary ingredients. Some categories where AOS-based formulations are used are mass, economy, luxury, and premium.
Market leaders are expected to continuously expand their production capacity of alpha olefins to meet the rising demand for various everyday consumer products, as well as market balance and product prices.
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Key Takeaways from the Alpha Olefins Market Report
- The alpha olefins market grew at a CAGR of 7.6% during the historical period. Over the forecast period, the CAGR is predicted to be 5.9% through 2034.
- In the United States, the market is estimated to generate revenue worth US$ 2.4 billion by 2034.
- In the United Kingdom, the market is projected to expand at a CAGR of 7.1% through 2034, reaching a valuation of US$ 545.3 million by the end of the forecast period.
- China's alpha olefins industry is assessed to register a CAGR of 6.7% through 2034 to attain a net worth of US$ 2.1 billion by 2034.
- South Korea is predicted to be a highly promising market for alpha olefins, expanding at a CAGR of 8% through 2034.
- From 2024 to 2034, Japan is anticipated to attain a market valuation of US$ 1.5 billion by 2034.
- The 1-octene segment is predicted to register a CAGR of 5.7% through 2034.
- The synthetic lubricants segment is anticipated to record a CAGR of 5.5% through 2034.
