고급 올레핀 시장 - 예측(2024-2029년)

The higher olefins market is expected to grow at a CAGR of 4.95% reaching a market size of US$9.020 billion in 2029 from US$6.434 billion in 2022.

Higher olefins are a class of organic compounds with a carbon-carbon double bond located at the higher end of the carbon chain. They are commonly produced as a byproduct during the refining of petroleum and are used in the production of various industrial chemicals, including detergents, plastics, and synthetic lubricants. The properties of higher olefins are largely determined by their molecular weight and carbon chain length. Higher olefins with longer carbon chains tend to have higher boiling points and are more viscous, while those with shorter chains tend to be more volatile and have lower boiling points. These properties make higher olefins useful in various applications, such as in the production of synthetic lubricants that require high viscosity.

Rising demand in detergents and automotive industries

The demand for higher olefins in the detergents industry is driven by their use as surfactants, which help to remove dirt and stains from fabrics. The rising consumer awareness of the importance of cleanliness and hygiene leads to an increased demand for cleaning and disinfecting products, which also use higher olefins as surfactants. The automotive industry is a major consumer of synthetic lubricants made from higher olefins. Additionally, regulations such as Corporate Average Fuel Economy (CAFE) standards in the United States and European Union Emissions Trading System (EU ETS) are driving the development of more fuel-efficient engines, which require higher-quality lubricants made from higher olefins.

Increased production of shale gas

The increased production of shale gas has led to an increase in the production of higher olefins as a byproduct of refining petroleum and processing natural gas. This has contributed to a decline in the price of higher olefins, making them more affordable and accessible to consumers. The increased production of shale gas has also led to a shift away from petroleum-based feedstock to produce higher olefins towards natural gas-based feedstock, which is more cost-effective and has a lower environmental impact.

Rising demand for high-purity 4N

High purity 4N (99.99%) higher olefins are widely used to produce speciality chemicals, especially in the pharmaceutical industry. High purity ensures the final product's quality and consistency, making it an essential factor in pharmaceutical manufacturing. Other applications of 4N higher olefins include the production of fragrances, flavours, and high-performance lubricants. The high-purity 4N higher olefins market is expected to grow significantly during the projected period due to the increasing demand for high-quality pharmaceuticals and speciality chemicals. The growing healthcare sector and the need for innovative drugs are the major driving factors for this segment's growth.

Rising use of lubricants

The goal of lubricant additive development is to give contemporary lubricants better qualities and functionality. Hydraulic fluids, gear oils, and engine crankcase lubricants are examples of applications for lubricants. The formulation of lubricant additives for industrial and automotive lubricants uses higher olefins. Both the environment and end users can benefit greatly from lubricant additive technology. One important factor that is taken into account when formulating and using lubricants is environmental concern. The need for newer lubricant formulations and lubricant additives has increased due to regular developments in engine oil specifications for various motor vehicles.

Asia Pacific is witnessing exponential growth during the forecast period

China is currently one of the world's largest production hubs and one of the fastest-growing emerging economies. One of the main drivers of the nation's economy is the manufacturing sector. Due to its high domestic consumption and abundance of domestic producers, China is the region's largest producer and consumer of surfactants. Because higher olefins are the reactive intermediates needed to make products used in automotive, surfactants, agricultural chemicals, coatings, and corrosion inhibitors, it is therefore anticipated that the growth of these end users will increase the consumption of higher olefins.

Market key launches

• In September 2023, ExxonMobil declared that work is moving forward to start up the new linear alpha olefins (LAO) manufacturing unit in mid-2023. At the location, ExxonMobil will produce ten high-purity LAO products, which it will then sell under the ElevexxTM brand. ExxonMobil's long-term growth plans include a $2 billion expansion to deliver higher-value products from its chemical and refining facilities along the U.S. Gulf Coast. "With the launch of these two new lines, VistamaxxTM can increase the durability of consumer goods like reusable containers and thus extend their useful life while also allowing for higher recycled content. ExxonMobil is delivering high-value materials for a variety of products that the public depends on every day." ExactTM can assist in supplying the automotive industry's increasing need for lighter, thinner parts.
• In June 2022, Lummus Technology declared the initiation and operation of a unit for propane dehydrogenation at the chemical complex for petrochemicals in Zibo City, China, owned by Shandong Ruize Chemical Technology Co. The unit uses Lummus' CATOFIN PDH technology and has a capacity of 300 KTA, producing propylene. CATOFIN technology delivers excellent annual production output compared to alternative technologies, maximizing propane-to-propylene conversion while reducing investment and operating costs. It also offers a cost-effective and reliable pathway to high olefin production, resulting in lower operating costs and stable operations.
• In March 2022, ExxonMobil stated that its petrochemical complex in Baytown, Texas, will start running its new manufacturing unit for linear alpha olefins (LAOs) in the middle of 2023. The facility is expected to have a capacity of more than 700 million pounds per year. It is expected to produce ten high-purity LAO products marketed under Elevexx. According to the company, the plant will use in-line analyzers for real-time product quality and purity assessment to ensure consistent production and supply reliability.

Segmentation:

By Product Type

• Purity(4N)
• Purity(5N)
• Purity(6N)

By Application

• Paints and Coatings
• Surfactants
• Corrosion Inhibitors
• Agricultural Chemicals
• Lubricant Additives
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• India
• South Korea
• Indonesia
• Thailand
• Taiwan
• Others

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base, and Forecast Years Timeline
• 1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Processes

3. EXECUTIVE SUMMARY

• 3.1. Key Findings
• 3.2. Analyst View

4. MARKET DYNAMICS

• 4.1. Market Drivers
• 4.2. Market Restraints
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis
• 4.5. Analyst View

5. HIGHER OLEFINS MARKET, BY PRODUCT TYPE

• 5.1. Introduction
• 5.2. Purity(4N)
  • 5.2.1. Market Trends and Opportunities
  • 5.2.2. Growth Prospects
  • 5.2.3. Geographic Lucrativeness
• 5.3. Purity(5N)
  • 5.3.1. Market Trends and Opportunities
  • 5.3.2. Growth Prospects
  • 5.3.3. Geographic Lucrativeness
• 5.4. Purity(6N)
  • 5.4.1. Market Trends and Opportunities
  • 5.4.2. Growth Prospects
  • 5.4.3. Geographic Lucrativeness

6. HIGHER OLEFINS MARKET, BY APPLICATION

• 6.1. Introduction
• 6.2. Paints and Coatings
  • 6.2.1. Market Trends and Opportunities
  • 6.2.2. Growth Prospects
  • 6.2.3. Geographic Lucrativeness
• 6.3. Surfactants
  • 6.3.1. Market Trends and Opportunities
  • 6.3.2. Growth Prospects
  • 6.3.3. Geographic Lucrativeness
• 6.4. Corrosion Inhibitors
  • 6.4.1. Market Trends and Opportunities
  • 6.4.2. Growth Prospects
  • 6.4.3. Geographic Lucrativeness
• 6.5. Agricultural Chemicals
  • 6.5.1. Market Trends and Opportunities
  • 6.5.2. Growth Prospects
  • 6.5.3. Geographic Lucrativeness
• 6.6. Lubricant Additives
  • 6.6.1. Market Trends and Opportunities
  • 6.6.2. Growth Prospects
  • 6.6.3. Geographic Lucrativeness
• 6.7. Others
  • 6.7.1. Market Trends and Opportunities
  • 6.7.2. Growth Prospects
  • 6.7.3. Geographic Lucrativeness

7. HIGHER OLEFINS MARKET, BY GEOGRAPHY

• 7.1. Introduction
• 7.2. North America
  • 7.2.1. By Product Type
  • 7.2.2. By Application
  • 7.2.3. By Country
    • 7.2.3.1. USA
      • 7.2.3.1.1. Market Trends and Opportunities
      • 7.2.3.1.2. Growth Prospects
    • 7.2.3.2. Canada
      • 7.2.3.2.1. Market Trends and Opportunities
      • 7.2.3.2.2. Growth Prospects
    • 7.2.3.3. Mexico
      • 7.2.3.3.1. Market Trends and Opportunities
      • 7.2.3.3.2. Growth Prospects
• 7.3. South America
  • 7.3.1. By Product Type
  • 7.3.2. By Application
  • 7.3.3. By Country
    • 7.3.3.1. Brazil
      • 7.3.3.1.1. Market Trends and Opportunities
      • 7.3.3.1.2. Growth Prospects
    • 7.3.3.2. Argentina
      • 7.3.3.2.1. Market Trends and Opportunities
      • 7.3.3.2.2. Growth Prospects
    • 7.3.3.3. Others
      • 7.3.3.3.1. Market Trends and Opportunities
      • 7.3.3.3.2. Growth Prospects
• 7.4. Europe
  • 7.4.1. By Product Type
  • 7.4.2. By Application
  • 7.4.3. By Country
    • 7.4.3.1. Germany
      • 7.4.3.1.1. Market Trends and Opportunities
      • 7.4.3.1.2. Growth Prospects
    • 7.4.3.2. France
      • 7.4.3.2.1. Market Trends and Opportunities
      • 7.4.3.2.2. Growth Prospects
    • 7.4.3.3. United Kingdom
      • 7.4.3.3.1. Market Trends and Opportunities
      • 7.4.3.3.2. Growth Prospects
    • 7.4.3.4. Spain
      • 7.4.3.4.1. Market Trends and Opportunities
      • 7.4.3.4.2. Growth Prospects
    • 7.4.3.5. Others
      • 7.4.3.5.1. Market Trends and Opportunities
      • 7.4.3.5.2. Growth Prospects
• 7.5. Middle East and Africa
  • 7.5.1. By Product Type
  • 7.5.2. By Application
  • 7.5.3. By Country
    • 7.5.3.1. Saudi Arabia
      • 7.5.3.1.1. Market Trends and Opportunities
      • 7.5.3.1.2. Growth Prospects
    • 7.5.3.2. UAE
      • 7.5.3.2.1. Market Trends and Opportunities
      • 7.5.3.2.2. Growth Prospects
    • 7.5.3.3. Israel
      • 7.5.3.3.1. Market Trends and Opportunities
      • 7.5.3.3.2. Growth Prospects
    • 7.5.3.4. Others
      • 7.5.3.4.1. Market Trends and Opportunities
      • 7.5.3.4.2. Growth Prospects
• 7.6. Asia Pacific
  • 7.6.1. By Product Type
  • 7.6.2. By Application
  • 7.6.3. By Country
    • 7.6.3.1. China
      • 7.6.3.1.1. Market Trends and Opportunities
      • 7.6.3.1.2. Growth Prospects
    • 7.6.3.2. India
      • 7.6.3.2.1. Market Trends and Opportunities
      • 7.6.3.2.2. Growth Prospects
    • 7.6.3.3. South Korea
      • 7.6.3.3.1. Market Trends and Opportunities
      • 7.6.3.3.2. Growth Prospects
    • 7.6.3.4. Indonesia
      • 7.6.3.4.1. Market Trends and Opportunities
      • 7.6.3.4.2. Growth Prospects
    • 7.6.3.5. Thailand
      • 7.6.3.5.1. Market Trends and Opportunities
      • 7.6.3.5.2. Growth Prospects
    • 7.6.3.6. Taiwan
      • 7.6.3.6.1. Market Trends and Opportunities
      • 7.6.3.6.2. Growth Prospects
    • 7.6.3.7. Others
      • 7.6.3.7.1. Market Trends and Opportunities
      • 7.6.3.7.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 8.1. Major Players and Strategy Analysis
• 8.2. Market Share Analysis
• 8.3. Mergers, Acquisitions, Agreements, and Collaborations
• 8.4. Competitive Dashboard

9. COMPANY PROFILES

• 9.1. Exxon Mobil Corporation
• 9.2. Janex SA
• 9.3. Sigma Aldrich
• 9.4. Honeywell International Inc.
• 9.5. American Chemistry Council, Inc.
• 9.6. Chevron Phillips Chemical Company
• 9.7. Air Liquide (Sasol)
• 9.8. Shell Global
• 9.9. Saudi Aramco (SABIC)
• 9.10. Sumitomo Chemical