Global Olefins Industry Rising to 2026 – Personal Care and Home Care Industry Growth in Latin America Drives Growth
Dublin, May 24, 2021 (GLOBE NEWSWIRE) – The report “Higher Olefins Market Trends – Growth, Trends, COVID-19 Impact and Forecast (2021-2026)” has been added to ResearchAndMarkets.com from offer.
The higher olefins market is expected to register a CAGR of around 5% during the forecast period. The major factors driving the market studied are the growth of personal and home care industry in Latin America.
Fluctuations in crude oil prices are likely to hamper market growth. Asia-Pacific dominated the global market for the higher olefin market.
Main market trends
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 crankcase lubricants, hydraulic fluids and gear oils, etc.
- Higher olefins are used in the formulation of lubricant additives for automotive lubricants and industrial lubricants.
- Lubricant additive technology offers many benefits for the environment and end users. Environmental concern is a major parameter taken into account when formulating and using the lubricant.
- Regular developments in engine oil specifications for various motor vehicles have increased the demand for newer lubricant formulations, thereby increasing the demand for lubricant additives.
Asia-Pacific to dominate the market
- The Asia-Pacific region dominated the global market share. China is one of the fastest growing economies and has grown into one of the largest production houses in the world today. The country’s manufacturing sector is one of the main contributors to the country’s economy.
- China is the largest consumer and producer of surfactants in the region, supported by domestic consumption and the presence of a large number of local producers in the country. The market for synthetic soap, laundry and detergents in China has grown at an average annual rate of 13.2% over the past five years, due to the growing hygiene awareness and development of liquid soap.
- China remains the world’s largest auto market, with sales of over 28 million units in 2017. Although the market slowed slightly in 2018, demand for premium cars has remained stable.
- Thus, the growth of various end users is expected to drive the consumption of higher olefins, as these are the reactive intermediates used to make products used in automotive, surfactants, agricultural chemicals, coatings and corrosion inhibitors. .
The higher olefin market is partially consolidated by nature. Major players include Royal Dutch Shell PLC, Honeywell International Inc, Exxon Mobil Corporation, Chevron Phillips Chemical Company, and American Chemistry Council, Inc., among others.
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Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growth of Personal Care and Home Care Industry in Latin America
4.1.2 Other pilots
4.2.1 Crude Oil Price Fluctuations
4.2.2 Other means of restraint
4.3 Industry Value Chain Analysis
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1.1 Lubricant additives
5.1.3 Agricultural chemicals
5.1.4 Paints and coatings
5.1.5 Corrosion inhibitors
5.1.6 Other applications
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.2.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.2.4 South America
126.96.36.199 Rest of South America
5.2.5 Middle East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Market share / ranking analysis **
6.3 Strategies adopted by the main actors
6.4 Company profiles
6.4.1 American Chemistry Council, Inc.
6.4.2 Chevron Phillips Chemical Company
6.4.3 Exxon Mobil Corporation
6.4.4 Honeywell International Inc
6.4.5 Idemitsu Kosan Co. Ltd
6.4.6 PJSC Nizhnekamskneftekhim
6.4.7 Qatar Chemical Company Ltd
6.4.8 Royal Dutch Shell PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/81qcg0
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