Higher Olefins Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | < 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Higher Olefins Market Analysis
The market for higher olefins is expected to register a CAGR of around 5% during the forecast period.Major factors driving the market studied are growing personal care and home care industry in Latin America.
- Fluctuations in crude oil prices is likely to hinder the markets growth.
- Asia-Pacific dominated the market across the world forhigher olefins market.
Higher Olefins Market Trends
This section covers the major market trends shaping the Higher Olefins Market according to our research experts:
Lubricant additives to Dominate the Market
- Lubricant additives continue to be developed to provide improved properties and performance to modern lubricants. Lubricants are used in engine crankcase lubricants, hydraulic fluids, and gear oils, etc.
- Higher olefins are used in formulation in the lubricant additives for automotive lubricants and industrial lubricants.
- Lubricant additive technology provides many benefits to the environment and the end users. Environmental concern is a major parameter taken into consideration during lubricant formulation and use.
- Regular developments in the engine oil specifications for different motor vehicles has been increasing the demand for newer lubricant formulations, consequently increasing the demand for lubricant additives.
Asia-Pacific to Dominate the Market
- The Asia-Pacific region dominated the global market share.China is one of the fastest emerging economies, and has become one of the biggest production houses in the world today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
- China is the largest consumer and producer of surfactants in the region, supported by the domestic consumption and presence of large number of local producers in the country. The market for soap, washing powder, and synthetic detergent in China has grown at an average annual rate of 13.2% in the past five years, due to increasing awareness about hygiene and development in liquid soap.
- China continues to be the world’s largest vehicle market, with sales of over 28 million units in 2017. Although the market slightly slowed down in 2018, the demand for premium cars has been stable.
- Thus, growth of various end users is expected to boost the consumption of higher olefins, as they are the reactive intermediates that are used to manufacture products used in automotive, surfactants, agricultural chemicals, coatings, and corrosion inhibitors.
Higher Olefins Industry Overview
The higher olefins market is partially consolidated in nature. Some of the major players include Royal Dutch Shell PLC, Honeywell International Inc, Exxon Mobil Corporation, Chevron Phillips Chemical Company, and American Chemistry Council, Inc., among others.
Higher Olefins Market Leaders
Royal Dutch Shell PLC
Honeywell International Inc
Exxon Mobil Corporation
Chevron Phillips Chemical Company
American Chemistry Council, Inc.
*Disclaimer: Major Players sorted in no particular order
Higher Olefins Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Personal Care and Home Care Industry in Latin America
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Fluctuations in Crude Oil Prices
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4.2.2 Other Restraints
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Application
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5.1.1 Lubricant Additives
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5.1.2 Surfactants
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5.1.3 Agricultural Chemicals
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5.1.4 Paints and Coatings
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5.1.5 Corrosion Inhibitors
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5.1.6 Other Applications
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5.2 Geography
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5.2.1 Asia-Pacific
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5.2.1.1 China
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5.2.1.2 India
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5.2.1.3 Japan
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5.2.1.4 South Korea
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5.2.1.5 Rest of Asia-Pacific
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5.2.2 North America
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5.2.2.1 United States
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5.2.2.2 Canada
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5.2.2.3 Mexico
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5.2.3 Europe
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5.2.3.1 Germany
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5.2.3.2 United Kingdom
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5.2.3.3 Italy
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5.2.3.4 France
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5.2.3.5 Rest of Europe
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle East & Africa
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5.2.5.1 Saudi Arabia
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5.2.5.2 South Africa
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5.2.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 American Chemistry Council, Inc.
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6.4.2 Chevron Phillips Chemical Company
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6.4.3 Exxon Mobil Corporation
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6.4.4 Honeywell International Inc
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6.4.5 Idemitsu Kosan Co. Ltd
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6.4.6 PJSC Nizhnekamskneftekhim
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6.4.7 Qatar Chemical Company Ltd
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6.4.8 Royal Dutch Shell PLC
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6.4.9 SABIC
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Higher Olefins Industry Segmentation
The Higher Olefins Market report includes:
| Application | |
| Lubricant Additives | |
| Surfactants | |
| Agricultural Chemicals | |
| Paints and Coatings | |
| Corrosion Inhibitors | |
| Other Applications |
| Geography | |||||||
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Higher Olefins Market Research FAQs
What is the current Higher Olefins Market size?
The Higher Olefins Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)
Who are the key players in Higher Olefins Market?
Royal Dutch Shell PLC, Honeywell International Inc, Exxon Mobil Corporation, Chevron Phillips Chemical Company and American Chemistry Council, Inc. are the major companies operating in the Higher Olefins Market.
Which is the fastest growing region in Higher Olefins Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Higher Olefins Market?
In 2024, the Asia Pacific accounts for the largest market share in Higher Olefins Market.
What years does this Higher Olefins Market cover?
The report covers the Higher Olefins Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Higher Olefins Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Higher Olefins Industry Report
Statistics for the 2024 Higher Olefins market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Higher Olefins analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
