Higher Olefins Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Higher Olefins Market Report is segmented by Application (Lubricant Additives, Surfactants, Agricultural Chemicals, Paints and Coatings, Corrosion Inhibitors, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa).

Higher Olefins Market Size

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Higher Olefins Market Summary
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

Higher Olefins Market 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.
Higher Olefins Market Revenue Share

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 Market Regional Trends

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

  1. Royal Dutch Shell PLC

  2. Honeywell International Inc

  3. Exxon Mobil Corporation

  4. Chevron Phillips Chemical Company

  5. American Chemistry Council, Inc.

*Disclaimer: Major Players sorted in no particular order

Higher Olefins Market concentration
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Higher Olefins Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Growing Personal Care and Home Care Industry in Latin America
    • 4.1.2 Other Drivers
  • 4.2 Restraints
    • 4.2.1 Fluctuations in Crude Oil Prices
    • 4.2.2 Other Restraints
  • 4.3 Industry Value-Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION

  • 5.1 Application
    • 5.1.1 Lubricant Additives
    • 5.1.2 Surfactants
    • 5.1.3 Agricultural Chemicals
    • 5.1.4 Paints and Coatings
    • 5.1.5 Corrosion Inhibitors
    • 5.1.6 Other Applications
  • 5.2 Geography
    • 5.2.1 Asia-Pacific
    • 5.2.1.1 China
    • 5.2.1.2 India
    • 5.2.1.3 Japan
    • 5.2.1.4 South Korea
    • 5.2.1.5 Rest of Asia-Pacific
    • 5.2.2 North America
    • 5.2.2.1 United States
    • 5.2.2.2 Canada
    • 5.2.2.3 Mexico
    • 5.2.3 Europe
    • 5.2.3.1 Germany
    • 5.2.3.2 United Kingdom
    • 5.2.3.3 Italy
    • 5.2.3.4 France
    • 5.2.3.5 Rest of Europe
    • 5.2.4 South America
    • 5.2.4.1 Brazil
    • 5.2.4.2 Argentina
    • 5.2.4.3 Rest of South America
    • 5.2.5 Middle East & Africa
    • 5.2.5.1 Saudi Arabia
    • 5.2.5.2 South Africa
    • 5.2.5.3 Rest of Middle East & Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share/Ranking Analysis**
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 American Chemistry Council, Inc.
    • 6.4.2 Chevron Phillips Chemical Company
    • 6.4.3 Exxon Mobil Corporation
    • 6.4.4 Honeywell International Inc
    • 6.4.5 Idemitsu Kosan Co. Ltd
    • 6.4.6 PJSC Nizhnekamskneftekhim
    • 6.4.7 Qatar Chemical Company Ltd
    • 6.4.8 Royal Dutch Shell PLC
    • 6.4.9 SABIC
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Higher Olefins Industry Segmentation

The Higher Olefins Market report includes:

Application Lubricant Additives
Surfactants
Agricultural Chemicals
Paints and Coatings
Corrosion Inhibitors
Other Applications
Geography Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
Geography North America United States
Canada
Mexico
Geography Europe Germany
United Kingdom
Italy
France
Rest of Europe
Geography South America Brazil
Argentina
Rest of South America
Geography Middle East & Africa Saudi Arabia
South Africa
Rest of Middle East & Africa
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Higher Olefins Market Research FAQs

The Higher Olefins Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)

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.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Higher Olefins Market.

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.

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Higher Olefins Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)