Higher Olefins Market Size (2024 - 2029)

The higher olefins market is projected to experience growth over the forecast period, driven primarily by the expanding personal care and home care industries in Latin America. However, the market's expansion may be challenged by fluctuations in crude oil prices. The Asia-Pacific region currently holds a dominant position in the global higher olefins market.

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Market Size of Higher Olefins Industry

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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 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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Higher Olefins Market Size Summary

The higher olefins market is poised for steady growth, driven primarily by the expanding personal care and home care industries in Latin America. Despite the positive outlook, the market faces challenges due to fluctuations in crude oil prices, which could impede its growth trajectory. The Asia-Pacific region, particularly China, holds a dominant position in the global market, benefiting from its robust manufacturing sector and significant consumption and production of surfactants. The demand for higher olefins is further bolstered by their application in lubricant additives, which are essential for enhancing the performance of automotive and industrial lubricants. This demand is fueled by ongoing advancements in engine oil specifications and the increasing emphasis on environmental considerations in lubricant formulation.

China's economic landscape, characterized by its large vehicle market and growing awareness of hygiene, supports the rising consumption of higher olefins. The country's market for soap, washing powder, and synthetic detergents has seen substantial growth, reflecting the broader trend of increasing demand for products that utilize higher olefins as reactive intermediates. These intermediates are crucial in the production of a wide range of products, including automotive components, surfactants, agricultural chemicals, coatings, and corrosion inhibitors. The market is partially consolidated, with key players such as Royal Dutch Shell PLC, Honeywell International Inc, Exxon Mobil Corporation, and Chevron Phillips Chemical Company playing significant roles in shaping its dynamics.

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Higher Olefins Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Personal Care and Home Care Industry in Latin America

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Fluctuations in Crude Oil Prices

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Lubricant Additives

      2. 2.1.2 Surfactants

      3. 2.1.3 Agricultural Chemicals

      4. 2.1.4 Paints and Coatings

      5. 2.1.5 Corrosion Inhibitors

      6. 2.1.6 Other Applications

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 Italy

        4. 2.2.3.4 France

        5. 2.2.3.5 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Middle East & Africa

        1. 2.2.5.1 Saudi Arabia

        2. 2.2.5.2 South Africa

        3. 2.2.5.3 Rest of Middle East & Africa

Higher Olefins Market Size 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.

Higher Olefins Market Report Snapshots

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