Portland, OR, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global alpha olefin market was estimated at $4.1 billion in 2021 and is expected to hit $8.2 billion by 2031, registering a CAGR of 7.5% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4.1 Billion |
| Market Size in 2031 | $8.2 Billion |
| CAGR | 7.5% |
| No. of Pages in Report | 280 |
| Segments Covered | Product, Application, and Region. |
| Drivers | Rising demand from several industries, especially from the automobile sector |
| A steep rise in the number of automobiles | |
| Opportunities | Surge in R&D activities and investment by the market players in unique strategies |
| Restraints | The fact that manufacturing alpha olefin calls for extreme pressure and temparature |
Covid-19 Scenario-
- Several social distancing measures and worldwide travel restrictions disrupted the gas & oil industries, which in turn decreased the demand for olefins, thus impacting the alpha olefin market negatively.
- The economic slowdown across several countries aggravated the scenario even more. However, the market has already got back on track.
The global alpha olefin market is analyzed across product, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By product, the 1-Hexene segment held nearly two-thirds of the global alpha olefin market in 2021, and is expected to dominate by 2031. The others segment, however, would cite the fastest CAGR of 8.8% throughout the forecast period.
Based on application, the polyethylene segment contributed to more than one-third of the global alpha olefin market share in 2021, and is expected to dominate by 2031. The others segment, on the other hand, would showcase the fastest CAGR of 9.8% throughout the forecast period.
Based on region, the market across North America generated around one-third of the global alpha olefin market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The LAMEA region, however, would showcase the fastest CAGR of 9.5% during the forecast period. The other regions studied in the report include Asia-Pacific and Europe.
The key market players analyzed in the global alpha olefin market report include Chevron Phillips Chemical Company LLC, Mitsubishi Chemical Corp, Exxon Mobil Corporation, JAM Petrochemicals Company, Qatar Chemical Company Ltd (Q-chem)., INEOS Oligomers, Petrochemicals Sdn. Bhd, Royal Dutch Shell, and Evonik Industries.
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/alpha-olefin-market/purchase-options
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
