Market Trends of 1-Decene Industry
This section covers the major market trends shaping the 1-Decene Market according to our research experts:
Polyalphaolefins to be the Largest Segment for 1-Decene Market
- 1-decene is majorly employed in the production of polyalphaolefins (PAO), a type of synthetic lubricant. Polyalphaolefins are significantly utilized in the automotive and manufacturing businesses.
- Moroever, they are also utilized as compressor oil, transmission oil, lube-oil added substance, and gear oil.
- In 2020, it is estimated that the worldwide wind turbine gear oil market volume amount to 41,100 million metric tons.
- By 2023, the global market value of the synthetic lubricants is anticipated to reach a value of USD 37.3 billion.
- All the aforementioned factors are expected to drive the 1-decene market during the forecast period.
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Asia-Pacific Region to Dominate 1-Decene Market
- Asia-Pacific region holds a prominent share in the 1-decene market globally and is expected to dominate the market during the forecast timeline.
- In 2019, Malaysia produced approximately 138.5 thousand metric tons of lubricating oil.
- Detergent alcohols and their subordinates are key raw materials utilized for delivering surfactants in clothing and dishwashing applications. In 2020, the Asia-Pacific region is forecasted to add up to USD 8.057 billion in revenue from the dishwashing detergents section.
- The demand for polyethylene from the Asia-Pacific region is expected to be 62 million metric tons in 2022.
- Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast timeframe.
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