H1 2023: The prominent players in the Asia Pacific Linear Alpha Olefin (LAO) market in H1 2023 were Sinochem Quanzhou Petrochemical, Reliance Industries Limited, and China National Petroleum Corporation. The Asia Pacific market showed fluctuations in H1 2023. In the first half of 2023, prices on the Chinese market varied. After the Chinese Lunar New Year holidays, market activity picked up pace. The downstream demand increased, yet there was a noticeable shortage of linear alpha olefins. Due to the country's expanding industrial and commercial activities, linear alpha olefins market prices in the Chinese domestic market continued to rise in the first four months of 2023. Due to increased demand anticipated from the downstream polymer sectors, Linear Alpha Olefin market prices in China increased dramatically in March. Due to persistent demand from the downstream polymer industry for the manufacturing of polyethylene (PE), polypropylene (PP), and other polyolefins in the area, the linear alpha olefins market in China kept up its upward trend in April. As new orders increased and downstream consumers’ buying activity increased in the region, the demand increased. Due to the continuous weakness of consumer demand in the downstream polyethylene (PE) and polypropylene (PP) industries brought on by China's economic downturn, LAO prices declined in May and June 2023.
The Asia Pacific Linear Alpha Olefin (LAO) market has touched the number of around 2200 thousand tonnes in 2022 and is expected to grow at an impressive CAGR of 6.23% during the forecast period until 2035.
The family of chemical compounds known as alkenes, which all include the double-bond functional group, is simply referred to as the "olefin" family. The amount of unsaturation in the double bond determines the chemical properties. Olefins' physical properties and, consequently, their chemical applications are influenced by the length of their chains. These olefines consist of C20–C24 olefin blends as well as Butene-1, Hexene-1, Octene-1, Tetradecane-1, and Octadecane-1. Olefins in the C6–C18 range are colourless liquids, while olefins in the C20–+ range are waxy solids. Butene-1 is a gas at room temperature. Based on type, the Linear Alpha Olefin (LAO) market is bifurcated into Butene-1, Hexene-1, Octene-1, and Others.
However, the LAO market is primarily driven by the polyethylene sector. The demand for LAO is predicted to increase in the forecast period because to the rising demand for consumer goods and packaging materials for food and beverages. The market for linear alpha olefins is anticipated to be driven by the rapid development in polyethylene demand in Asia-Pacific, particularly by China and India, as a result of rising per capita consumption due to rising purchasing power and a growing middle class. Polyethylene is the most widely used commodity plastic, used in everything from shopping bags and packing film to detergent bottles and construction pipes. The growth of linear alpha olefins will be fueled by the increased demand for polyethylene as food and consumer products packaging demand hike in the future. The Linear Alpha Olefin (LAO) market is estimated to reach a volume of nearly 4760 thousand tonnes by 2035.
Geographically, Asia Pacific Linear Alpha Olefin (LAO) market is divided into China, India, Thailand, Taiwan, South Korea, and Rest Of APAC. Among these, China has captured majority of the Asia Pacific Linear Alpha Olefin market.
Based on the end-user industry, the Asia Pacific Linear Alpha Olefin (LAO) market is further fragmented into different industrial sectors that include Polyethylene, Polyalphaolefins, Oxo alcohols, and Others. Among these, Polyethylene is the dominating the Linear Alpha Olefin (LAO) market. This industry consumed approximately 69% of the market in 2022 and is likely to remain the leading consumer in the year 2035. The most widely used plastic is polyethylene, which is available in two varieties: low-density polyethylene (LDPE) and high-density polyethylene (HDPE). Crates, trays, bottles for milk and fruit juices, caps for food packaging are a few examples of the packaging applications for HDPE. HDPE is a popular material for many household and consumer goods due to its low cost and simple processing. LDPE is utilised in the packaging sector for pharmaceutical and squeeze bottles, caps and closures, films for food packaging because of its good flexibility. Due to its flexibility and minimal water absorption, LDPE is utilised to make water pipes and hoses for the pipes and fittings industry.
Major players in the Asia Pacific Linear Alpha Olefin (LAO) market are Sinochem Quanzhou Petrochemical, Sinopec Beijing Yanhua Petrochemical Co., Ltd, Sinopec Yanshan Petrochemical, Sirloong chenmical, Sumitomo Chemical Co. Ltd, Reliance Industries Limited, GAIL (India) Limited, Haldia Petrochemicals Limited, HPCL- Mittal Energy Limited, Idemitsu Petrochemical Company, Ltd., China National Petroleum Corporation, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Linear Alpha Olefin (LAO) which covers production, demand and supply of Linear Alpha Olefin (LAO) market in the globe.
• To analyse and forecast the market size of Linear Alpha Olefin (LAO)
• To classify and forecast Asia Pacific Linear Alpha Olefin (LAO) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Linear Alpha Olefin (LAO) market in the globe.
To extract data for Asia Pacific Linear Alpha Olefin (LAO) market, primary research surveys were conducted with Linear Alpha Olefin (LAO) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific Linear Alpha Olefin (LAO) market over the coming years.
ChemAnalyst calculated Linear Alpha Olefin (LAO) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of raw material to produce Linear Alpha Olefin (LAO)s. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Linear Alpha Olefin (LAO) manufacturers and other stakeholders
• Organizations, forums and alliances related to Linear Alpha Olefin (LAO)s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Linear Alpha Olefin (LAO) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
ChemAnalyst calculated Linear Alpha Olefin (LAO) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Linear Alpha Olefin (LAO) across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Report Scope:
In this report, Asia Pacific Linear Alpha Olefin (LAO) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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2200 thousand tonnes
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Market size Volume by 2035
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4760 thousand tonnes
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Growth Rate
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CAGR of 6.23% from 2023 to 2035
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2035
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2035
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Report coverage
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Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Type, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
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Segments covered
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By End-Use: (Polyethylene, Polyalphaolefins, Oxo alcohols, and others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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