1-Decene Market is forecast to reach USD 1826.1 MILLION by 2030
The Global 1-Decene Market size is
estimated to be USD 1101.8 million in 2019 and is predicted to reach USD 1826.1
million by 2030 with a CAGR of 4.7% from 2020-2030.1-Decene is a colorless
alkaline with the formula C10H20. It is the only isomer that holds a
significant industrial importance. Its application accounts to as a monomer in
copolymers, as an alpha-olefin, where it serves to be an intermediate product
that is consumed during the production of amines, epoxides, synthetic
lubricants, Oxo alcohols, alkylated aromatics, and synthetic fatty acids.
Commercially, this compound is produced either via Ziegler process or via the
cracking of petrochemical waxes.
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The derivatives of 1-Decene
accounts to poly Alpha olefins, detergent alcohol, and others. Poly Alpha
olefins are primarily used as compressor oil, gear oil, transmission oil, and
Lube oil additives; and hence is widely used in Automotive and manufacturing
industries. Detergent alcohols, on the other hand, are used during the
production of solvents, adhesives, plasticizers, coatings, and specialty
chemicals.
Market Dynamics and Trends
The factors like high consumption
of the chemical component, competitive production cost, increasing production
capacity and high economic growth are the prime factors propelling the 1-Decene
market in developed regions like Europe. However, the growing R&D
investments, joint ventures and numerous market strategies adopted by the key
players of this market is also responsible for expanding the 1-Decene market,
globally.
The prime factors responsible for
accelerating the demand for 1-Decene market are growing demand for Poly Alpha
Olefin or PAO in the market coupled with the continuous availability and supply
of ethylene, which is an essential raw material that is utilized during the
production of 1-Decene. In addition, the increasing adoption of Paos-Based
synthetic lubricants is also responsible for propelling the growth of the
1-Decene market. However, the volatility in the cost of raw materials serves to
be the major factor restricting the growth of the market. The market is also
flourished with the number of opportunities, accounting to the growing focus on
production and consumption of wind energy coupled with the increasing
investments in research and development activities contributing to the
development of Alpha Olefins from different sources.
Market Segmentations and Scope of
the Study:
The global 1-Decene market share is
analyzed on the basis of application, and geography. On the basis of
application, the 1-Decene Market is segmented into Poly Alpha Olefin,
Polyethylene, Detergent Alcohols, and Others. However, on the basis of geography,
the 1-Decene market is categorized into North America, Europe, Asia Pacific,
and Latin America and the Middle East.
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Competitive Landscape
Comprehensive competitive analysis
and profiles of major market players such Chevron Phillips Chemical Company
LLC, Shell Chemical Ltd., INEOS Oligomers, Qatar Chemical Company Ltd. (Q-Chem
II), SABIC, PJSC Nizhnekamskneftekhim, Idemitsu Kosan Co., Ltd., ExxonMobil
Corporation, Sigma-Aldrich Corporation, and Alfa Aesar.
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