1-Decene Market by Derivative and Region – Global Forecast to 2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “1-Decene Market by Derivative (Polyalphaolefins (Synthetic Lubricants, and Others), Oxo Alcohols (Plasticizer and Detergent Alcohols)), and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The 1-Decene market is estimated to grow from USD 576 million in 2020 to USD 798 million by 2025, at a CAGR of 6.7%.

The 1-Decene market is driven mainly by increasing demand for PAO-based synthetic lubricants. However, the growth of group III base oil and volatile raw material prices are expected to restrain the market growth.

The automobile industry is indirectly driving the 1-Decene market due to the increasing demand for PAOs-based synthetic lubricants. PAO consumption trends directly impact the demand for 1-Decene. Owing to the improving standards of living in developing countries, the number of vehicles is expected to continue to increase. The increased spending on vehicles by the middle-class population is expected to drive the market for automobiles, leading to an increased demand for lubricants, one of the important applications of 1-Decene derivatives.

Polyalphaolefins expected to be the fastest-growing derivative type of the 1-Decene market, in terms of value, between 2020 and 2025.

The polyalphaolefins (PAOs) segment is estimated to witness the highest growth rates in the 1-Decene market in terms of value in 2019. This is due to the increasing use of 1-Decene in the production of PAOs. Furthermore, the growing demand for PAOs in an increasing number of applications and technological developments are likely to positively influence the 1-Decene market.

North America is estimated to witness the highest CAGR, during the forecast period.

North America is projected to register the highest CAGR of 7.3% in the 1-Decene market between 2020 and 2025, in terms of value. The growth is mainly attributed to the growth in North America because the region has a vast and varied industrial base of PAOs and oxo alcohols. The growth in North America is mainly attributed to the continuous expansion of oil & gas and petrochemical infrastructure in the US, Canada, and Mexico. North America is considered as a potential investment hub for 1-Decene production by several domestic as well as foreign players because of its vast reserves of natural resources.

The abundance of natural resources, such as shale gas and crude oil, and access to the exploration and production technologies of oil & gas have created cost advantages for the oil & gas industry. Increasing shale gas exploration in the region is another factor that increases the demand for 1-Decene in the region. The region is home to some of the leading players of 1-Decene, such as Chevron Phillips Chemical Company LLC (US) and Exxon Mobil Corporation (US). The increasing demand from the automotive industry, coupled with the rising awareness regarding environment-friendly products, will drive the market.

Market Dynamics

Drivers

• Increasing Demand for Paos-Based Synthetic Lubricants
• Growing Industrial Activities in the Middle East & Africa and APAC

Restraints

• Growth of Group Iii Base Oils
• Volatile Raw Material Prices
• Growth in Demand for Hybrid Vehicles and Increasing Battery Price Parity

Opportunities

• Growing R&D Investments for the Development of Alpha Olefins from Different Sources
• Growth of Wind Energy Sector

Challenges

• Demand-Supply Gap

Companies Mentioned

• Alfa Aesar
• Angene Chemicals
• Chevron Phillips Chemical Company LLC
• Exxon Mobil Corporation
• Gelest Inc.
• Idemitsu Kosan Co., Ltd.
• Ineos
• Merck Group
• Pjsc Nizhnekamskneftekhim
• Qatar Chemical Company Ii Ltd.
• Royal Dutch Shell
• Sabic
• Spectrum Chemical Mfg. Corp.
• Tokyo Chemical Industry Company Limited
• Toronto Research Chemicals

For more information about this report visit https://www.researchandmarkets.com/r/9n3sla

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