What is the current Higher Olefins Market size?

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

Who are the key players in Higher Olefins Market?

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. Read More

Which is the fastest growing region in Higher Olefins Market?

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

Which region has the biggest share in Higher Olefins Market?

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

What years does this Higher Olefins Market cover?

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. Read More

Higher Olefins Market Trends

Statistics for the 2023 & 2024 Higher Olefins market trends, created by Mordor Intelligence™ Industry Reports. Higher Olefins trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Higher Olefins Industry

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.

Understand The Key Trends Shaping This Market

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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.