The growth of the market is mainly driven by the increasing demand of the compound in the production of polyolefin comonomers (mostly used in plastic production) and specialty chemicals.
New York, NY -- (SBWIRE) -- 08/07/2018 -- According to a research report published by P&S Intelligence, the alpha olefins market has been witnessing a steady growth in the past few years and it is projected to maintain the growth rate for the next few years. The growth of the market is mainly driven by the increasing demand of the compound in the production of polyolefin comonomers (mostly used in plastic production) and specialty chemicals. Globally, North America has been witnessing the highest volume sales of alpha olefins till now. The increasing consumption of alpha olefins in the region is attributed to the growing demand of the compound in different industries, including construction, automotive, and plastics.
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Royal Dutch Shell Plc, Chevron Phillips Chemical Company LLC, INEOS Group Holding S.A., and Sasol Limited are estimated to hold major portions of the market shares in the global alpha olefins market in 2017. Globally, Royal Dutch Shell Plc is the largest producer of alpha olefins. Recently, the company has added an additional 425,000 tons of capacity to the Geismar facility in the U.S., making it the largest alpha olefin producer in North America.
Chevron Phillips Chemical Company LLC offers its alpha olefin products under the brand name 'ALPHAPLUS', which are available in fractions ranging from C4 to C30+. The products are manufactured at Cedar Bayou Petrochemical Complex located in Texas. INEOS Group Holding S.A. is the third largest producer of alpha olefins in the world.
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In 2016, the company had announced to build a new linear alpha olefin unit in Texas, the U.S. The linear alpha olefins unit capacity will be around 420,000 metric tonnes per annum (tpa). The unit is expected to commence production in November 2018.
Sasol Limited is the major producer of C5-C8 alpha olefin range of products. It is the only producer of 1-pentene in commercial quantities. The company uses gasification plant and Fischer-Tropsch conversion to produce alpha olefins. Other players in the market are Evonik Industries AG, Saudi Basic Industries Corporation, ExxonMobil Corporation, Qatar Chemical Company Ltd, PJSC Nizhnekamskneftekhim, and Idemitsu Kosan Co. Ltd.
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