Global Internal Olefins Market By Overview
Introduction:
Olefin is also called an alkane, is a compound composed of hydrogen and carbon containing one or more pairs of carbon atoms joined by a double bond, Olefins are examples of unsaturated hydrocarbon compounds this hydrocarbon compound contained only hydrogen and carbon and at least one double or triple bond. Olefins is mainly used in raw materials in the manufacture of chemical and polymer products such as plastics, detergents, adhesives, rubber and food packaging. It contains a group of chemicals: ethylene, propylene and butadiene. Olefins are a class of chemicals composed of hydrogen and carbon with one or more pairs of carbon atoms linked by a double bond. Examples of olefins are ethylene, propylene, and 1, 3-butadiene. Alkanes are also called olefins (oil-forming) because when the lower members of alkanes are treated with chlorine or bromine, they produce oily substances. Olefin fibers are made from ethylene and propylene. Polymerization of propylene and ethylene gases, controlled by special catalysts, produces olefin fibers. Olefins are produced by using thermal hydrocarbon cracking at high heat to refine gaseous or liquid hydrocarbon feedstocks, such as naphtha and natural gas condensates such as ethane and propane, into shorter hydrocarbon chains. Production of olefin is depends on natural gas processing products or crude oil fractions, the current leading technology for olefin production is steam cracking (SC). These synthetic fluids provide a safe and cost-effective solution for gas wells and oil drilling, fueling the growth of the internal olefins market.
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Attributes |
Details |
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Global Internal Olefins Market Value (2022) |
US$ 2.0 Bn |
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Global Internal Olefins Market Projected Value(2032) |
US$ 3.35 Bn |
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Global Internal Olefins Market CAGR (2022-2032) |
5.5% |
Global Internal Olefins Market By Dynamics
Growing automotive industry & easy availability of internal olefin substitutes
The Global internal olefins market is driven by growing demand from the growing automotive industry and rising Global demand for green and clean industrial fluids and continued growth in Global consumption of products such as lubricants, surfactants, and agrochemicals, market over the past few years. Increase in use of internal olefins in oil drilling and related activities is also estimated to drive the market However, easy availability of internal olefin substitutes such as poly-alpha-olefin and fluctuating prices of ethylene may hamper the internal olefin market globally. Factors such as availability of alternatives such as alpha-olefin, LAO, and PAO with enhanced properties and higher purity pose a threat to the market. Also, the easy availability and affordability of ethylene as a key raw material for alternatives restrains the growth of the internal olefin market.
Technological advancement
The stringent regulations of the EPA and REACH related to the oil and gas industry and the environmental damage caused by the process, as well as technological developments supported by companies changing enhanced techniques for oil recovery, have increased the use of synthetic based fluids suitable for drilling operations that aid in driving product demand. In September 2022, cushier rides are becoming standard fare in work trucks. The new trucks have three interior trim levels – Pro, Rugged and Elite. Gun metal gray hard trim pieces adorn the rugged and elite dash with glossy-finish bezels and a leather-wrapped steering wheel. The range-topping Elite includes wood grain trim improved cabin insulation and thermoplastic olefin in the door panels contribute to conversational quietness and reduce squeaks and rattles. A new integrated map pocket made of plastic is strong enough to withstand 300 pounds and serves as an additional grab handle.
Global Internal Olefins Market By Segmentation
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The Global Internal Olefins Market is segmented based on type, application, and region.
Global Internal Olefins Market, By Type
On the basis of type, the Global Internal Olefins Market is segmented into Industrial, Agricultural, and Pharmaceutical. The pharmaceutical segment holds the largest market share. The level of toxicity, biodegradability and human safety benefits offered by olefins have increased their acceptance in the pharmaceuticals segment.
Global Internal Olefins Market, By Application
On the basis of application, the target market is classified into Oil Drilling, Surfactants, Lubricants, Agrochemicals, and Pharmaceutical. The oil drilling segment holds the largest share of the market. Its stability at high temperatures, lubricity and well boring stability may be contributing factors. It provides sound drilling operations as it is less toxic. This is expected to boost this segment.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Global Internal Olefins Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the largest market share in 2017 due to substantial domestic demand for olefins in China, India, South Korea and Japan. Growing population leads to increasing demand for agrochemicals, which in turn leads to increasing demand for agricultural products and this helps in the growth of the domestic olefins market. North America held significant market share in the global internal olefins market in 2017, owing to increasing oil and gas exploration due to shale gas revolution, which in turn expanded drilling activities in the region.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2022 |
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Forecast period |
2022 – 2032 |
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Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
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Market Segmentation |
By Type - Industrial, Agricultural, and Pharmaceutical By Application - Oil Drilling, Surfactants, Lubricants, Agrochemicals, and Pharmaceutical |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Recent Development:
- In September 2022, TerraXcube investigates the effects of extreme environments. The team at TerraXcube can withstand atmospheric pressure, snowstorms and torrential rains, high winds, high humidity or dry deserts, and temperatures from -40°C to +60°C, and a combination of everything from sea level to the summit of Everest. A two-stage cooling system is used to pull the chamber down to extremely low temperatures. The first uses a hydrofluoro-olefin gas refrigerant to lower the interior temperature to -10°C. A second is based on carbon dioxide and allows the chamber to reach temperatures of -40°C.
- In May 2022, Conduction of syngas-to-light olefin reaction pathway with coordination of unsaturated sites of ZnGaOx spinel. Syngas is an important intermediate platform for the utilization of carbon resources such as coal, natural gas and biomass, which can be converted into a variety of high-value chemicals and fuels.
- In June 2022, Chevron Phillips Chemical to build a new low viscosity PAO unit in Belgium to address growing worldwide demand.
- In September 2021, SASOL and UCT Researchers collaborated on the use of commercial iron catalysts to convert hydrogen and co2 into green jet fuel and chemicals.
Segments Covered in the Report:
This report forecasts revenue growth at Global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Global Internal Olefins Market report based on type, application, and region:
Global Internal Olefins Market, By Type:
- Industrial
- Agricultural
- Pharmaceutical
Global Internal Olefins Market, By Application:
- Oil Drilling
- Surfactants
- Lubricants
- Agrochemicals
- Pharmaceutical
Global Internal Olefins Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Internal Olefins Market By Key Players
The key players operating the Global Internal Olefins Market includes,
- Royal Dutch Shell is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas "supermajors" and is consistently one of the world's largest companies by revenue and profit.[4] Measured both by its own emissions and the emissions of all the fossil fuels it sells, Shell was the ninth largest corporate producer of greenhouse gas emissions during that period.
- INEOS Oligomers manufactures a range of products used in surface technology including industrial coatings, decorative paints, printing inks, adhesives and sealants. The polybutene from INEOS oligomers is also used to make caulk, sealants, and many types of adhesives.
- Elevance Renewable Sciences Inc. announced that it has completed production of one million-pound (approximately 500 metric tons) of specialty chemicals made from renewable feedstocks. Specialty chemicals produced include alpha olefins and novel esters that will be used by Elivans' customers in applications including detergents and cleaners, personal care products, lubricants and additives for lubricants and fuels.
- Sasol Limited is a global chemicals and energy company, Sasol is produces ammonia, ammonium nitrate, catalyst, ethylene, mining chemicals, phenolics, solvents, wax and also utilities and electricity generation.
- Chevron Phillips Chemical Company is a major global producer of olefin products. Produced from natural gas liquids (NGLs), olefins are important building blocks for other chemicals, plastics and fibers. We collect, buy, sell and fractionate NGLs, then produce and market olefin products such as ethylene and propylene from our production facilities around the world.
- Schlumberger Limited provides technologies for reservoir characterization, production, drilling and processing to the oil and gas industry. The company also provides products and services to industry from exploration through integrated pipeline solutions for production and hydrocarbon recovery.
- Halliburton provides upstream drilling and exploration services to oil and gas production activities that companies such as Exxon Mobil and National Oil Companies (NOCs) such as Saudi Aramco need to explore, develop and service their oil resources.
- Idemitsu Kosan Co.Ltd. Performance chemicals are known for their extremely high purity and excellent quality. Designed with Idemitsu's technical expertise, unique chemical products meet the ever-growing and expanding needs of our customers, and the company produces plastics, monomers for semiconductor manufacturing processes, and raw materials for general purpose products such as adhesives, paints and detergents.
- Shrieve Chemical Company is a privately held, independent company based in The Woodlands, Texas, and is the parent company of the Shreeve Group. Shrieve Chemicals' business operates throughout North America and is a leading provider of sulfur, sulfur-based products, industrial chemicals and nitrogen products in a wide range of industrial applications, including agriculture, adhesives and resins, paints and coatings.
- SABIC Saudi Basic Industries Corporation is a Saudi chemical manufacturing company known as SABIC. It is active in petrochemicals, chemicals, industrial polymers, fertilizers and metals.
Global Internal Olefins Market By Company Profile
- Royal Dutch Shell*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- INEOS Oligomers
- Elevance Renewable Sciences Inc.
- Sasol Limited
- Chevron Phillips Chemical Company
- Schlumberger Limited
- Halliburton
- Idemitsu Kosan Co.Ltd.
- Shrieve Chemical Company
- SABIC
“*” marked represents similar segmentation in other categories in the respective section
Global Internal Olefins Market By Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Types
- Key Thickness Insights
- Secondary Data
- Major Secondary Types
- Secondary Types
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Internal Olefins Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Industrial
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Agricultural
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Pharmaceutical
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Internal Olefins Market, By Application, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Oil Drilling
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Surfactants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Lubricants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Agrochemicals
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Pharmaceutical
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Internal Olefins Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Royal Dutch Shell
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- INEOS Oligomers
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Elevance Renewable Sciences Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sasol Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Chevron Phillips Chemical Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Schlumberger Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Halliburton
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Idemitsu Kosan Co.Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shrieve Chemical Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SABIC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global internal olefins market report segments the market on the basis of type, application, and region.
Internal olefins market is driven by growing demand from the growing automotive industry and rising Global demand for green and clean industrial fluids and continued growth in Global consumption of products such as lubricants, surfactants, and agrochemicals.
Asia Pacific accounted for the largest market share in 2017 due to substantial domestic demand for olefins in China, India, South Korea and Japan. Growing population leads to increasing demand for agrochemicals, which in turn leads to increasing demand for agricultural products and this helps in the growth of the domestic olefins market.
The Key players operating in the Internal Olefins Market includes Royal Dutch Shell, INEOS Oligomers, Elevance Renewable Sciences Inc., Sasol Limited, Chevron Phillips Chemical Company, Schlumberger Limited, Halliburton, Idemitsu Kosan Co. Ltd., Shrieve Chemical Company, SABIC.