Sat, 24 Jul 2021

1-Decene Market worth $798 million by 2025

iCrowd Newswire
22 Jun 2021, 20:55 GMT+10

According to the new market research report "1-Decene Market by Derivative (Polyalphaolefins (Synthetic Lubricants, and Others), Oxo Alcohols (Plasticizer and Detergent Alcohols)), and Region - Global Forecast to 2025", The 1-Decene market is projected to reach USD 798 million by 2025, at a CAGR of 6.7% from USD 576 million in 2020.

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The growth of the 1-Decene market is primarily triggered by the increasing demand for PAO-based synthetic lubricants. Moreover, growing industrial activities in Middle East & Africa and Asia Pacific (APAC) is another factor driving the 1-Dcene market. Polyalphaolefins (PAOs) have gained acceptance as a high-performance lubricant as they possess highly desirable characteristics, such as high viscosity index, thermal stability, oxidative stability, compatibility with mineral oils, and low toxicity. PAOs not only offer the advantages of technical performance but also preserve the environment in certain sensitive applications. PAO-based synthetic lubricants offer superior performance in offshore drilling applications, where environmental concerns are high. In addition, certain PAOs are biodegradable and thus can be used as substitutes for vegetable-based oils. The PAO-based synthetic lubricants tend to eliminate the performance errors associated with drilling operations.

The PAOs segment accounted for the largest share of the global 1-Decene market in terms of value in 2019. This is mainly because PAOs are used in various synthetic products, such as lubricants, greases, and fluids. The demand for PAOs is majorly driven by their molecular stability and pureness. Greater oxidative stability, superior volatility, excellent low-temperature viscosities, high viscosity index, and excellent pour points drive the demand for PAOs in comparison to mineral oils.

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The 1-Decene market size is projected to reach USD 798 million by 2025 from USD 576 million in 2020, at a CAGR of 6.7%. The demand for 1-Decene is attributed to increasing demand for PAO-based lubricants and increasing industrialization in Middle East & Africa and Asia Pacific. However, growth of group III base oils, volatile raw material prices, and growth in demand for hybrid vehicles and increasing battery price parity are restricting its growth in the 1-Decene market. On the other hand, the growing R&D investments for the development of alpha olefins from different sources has created opportunities for manufacturers.

Royal Dutch Shell (Netherlands), Chevron Phillips Chemical Company LLC (US), and INEOS (UK) are the major players in this market.

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Royal Dutch Shell is one of the largest players in the 1-Decene market. It is one of the largest oil & gas companies in the world. Shell is both vertically and horizontally integrated and is active throughout the value chain in the oil & gas industry. It is one of the world's most valuable companies and one of the six oil and gas "supermajors." In the early 1900s, it was also a part of "seven sisters." The company offers 1-Decene via the downstream business segment. The company focusses on expansion to remain competitive in the 1-Decene market.

Chevron Phillips Chemical Company LLC is another key player in the 1-Decene market. The company manufactures a wide range of petrochemicals and sells them across the globe. Chevron is also one of the leading suppliers of alpha olefins, specialty chemicals, and other chemicals. The company's product line includes aromatics, drilling specialties, alpha olefins, olefins, polyethylene, and specialty chemicals, among others. It operates in China, Belgium, Saudi Arabia, South Korea, the US, and other nations. The company has 33 manufacturing sites in countries including Belgium, Colombia, Qatar, Saudi Arabia, Singapore, and the US. The company offers 1-Decene under the brand name AlphaPlus, sold under normal alpha olefins products. The company focusses on expansion, distribution agreement and joint venture in order to remain competitive in the 1-Decene market.

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Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441


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