The 1-Decene market is driven mainly by increasing demand for PAO-based synthetic lubriacnts. However, growth of group III base oil and volatalile raw material prices are expected to restrain market growth.
New York, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "1-Decene Market by Derivative, And Region - Global Forecast to 2025" - https://www.reportlinker.com/p05351023/?utm_source=GNW
The automobile industry is indirectly driving the 1-Decene market due to the increasing demand for PAOs-based synthetic lubricants.PAO consumption trends directly impact the demand for 1-Decene.
Owing to the improving standards of living in developing countries, the number of vehicles is expected to continue to increase. The increased spending on vehicles by the middle-class population is expected to drive the market for automobiles, leading to an increased demand for lubricants, one of the important applications of 1-Decene derivatives.
Polyalphaolefins expected to be the fastest-growing derivative type of the 1-Decene market, in terms of value, between 2020 and 2025
The polyalphaolefins (PAOs) segment is estimated to witness the highest growth rates in the 1-Decene market in terms of value in 2019.This is due to the increasing use of 1-Decene in the production of PAOs. Furthermore, the growing demand for PAOs in increasing number of applications and technological developments are likely to positively influence the 1-Decene market..
North America is estimated to witness the highest CAGR, during the forecast period.
North America is projected to register the highest CAGR of 7.3% in the 1-Decene market between 2020 and 2025, in terms of value. The growth is mainly attributed to the growing in North America because the region has a vast and varied industrial base of PAOs and oxo alcohols. The growth in North America is mainly attributed to the continuous expansion of oil & gas and petrochemical infrastructure in the US, Canada, and Mexico. North America is considered as a potential investment hub for 1-Decene production by several domestic as well as foreign players because of its vast reserves of natural resources. The abundance of natural resources, such as shale gas and crude oil, and access to the exploration and production technologies of oil & gas have created cost advantages for the oil & gas industry. Increasing shale gas exploration in the region is another factor that increases the demand for 1-Decene in the region. The region is home to some of the leading players of 1-Decene, such as Chevron Phillips Chemical Company LLC (US) and Exxon Mobil Corporation (US). The increasing demand from the automotive industry, coupled with the rising awareness regarding environment-friendly products, will drive the market.
• By Company Type: Tier 1 - 60%, Tier 2 - 30%, and Tier 3 - 10%
• By Designation: C-Level - 25%, Director Level - 18%, and Others - 56%
• By Region: Europe - 41%, North America - 34%, APAC - 18%, South America - 4%, Middle East & Africa - 3%,
The key players profiled in the report include as Royal Dutch Shell (Netherlands), INEOS (UK), Chevron Phillips Chemical Company LLC (US), SABIC (Saudi Arabia), and Exxon Mobil Corporation (US), among others.
This report segments the market for 1-Decene based on derivative, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, associated with the market for 1-Decene.
Reasons to Buy this Report
This research report is focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the 1-Decene market; high-growth regions; and market drivers, restraints, challenges and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on 1-Decene offered by top players in the global market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for 1-Decene across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global 1-Decene market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the 1-Decene market
Read the full report: https://www.reportlinker.com/p05351023/?utm_source=GNW
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