Global alpha olefins market is expected to reach USD 10.7 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for polyethylene on account of its versatile application is expected to drive the global alpha olefins market. Growth of automotive and consumer goods industries in Asia Pacific and Latin America is also expected to have a positive influence on the market growth. Volatile raw material prices of key raw materials coupled and stringent environmental regulations are expected to remain key challenges for market participants over the next six years. Growing R&D investment for development of bio-based alpha olefins are expected to yield opportunities for industry participants.
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1-hexene was the largest product segment with 24.2% of total market volume in 2013. Increasing demand for polyethylene is expected to remain a key driving factor for this segment. 1-hexene is also expected to witness the highest growth rate of 4.6% over the forecast period. Global demand for 1-butene is expected to exceed USD 2 billion by 2020.
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Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
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