Internal Olefins Market, By Technology (Paraffin Dehydrogenation and Isomerization & Disproportionation), By Application ( Surfactants, Oil Drilling, Pharmaceuticals, Lubricants, Agrochemical, and Others ), By Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Internal olefins are predominantly linear however, may contain small amount of branched material as impurities. Growing environmental concerns related to the impact of fluids on aquaculture is driving growth of internal olefins market. Key players operating in petroleum industry generally prefer various synthetic-based fluids such as synthetic paraffin, internal olefins, and linear alpha olefins. These synthetic fluids provide safe and cost effective solution for gas wells and oil drilling, fueling growth of the internal olefins market.
Market Dynamics
By application, surfactant segment is gaining traction in the market. Growing usage of surfactant products such as liquid detergents, soaps and shampoos, sanitizers, and others, owing to increasing hygiene awareness is expected to drive growth of the internal olefin market. For instance, in 2021, ‘Your Health is in Your Hands’ campaign in the city of Duma, in the Women’s Office of the Local Council, began in regards to spread of garbage and to elevate the level of public hygiene.
Asia Pacific held a significant market share in 2021, due to substantial demand for internal olefins from China, India, South Korea, and Japan. Growing demand for agrochemicals, owing to increasing population, in turn increasing demand for agricultural products and this aids in growth of the internal olefin market. For instance, according to India Brand Equity Foundation (IBEF), in 2020, the agrochemical market in India is expected to grow at 7.5% annually, with a growing domestic demand of 6.5% per annum, to reach US$ 6.3 billion by 2020.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook