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1-Decene Market worth $798 Million by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Jan. 27, 2021 /PRNewswire/ -- According to the new market research report "1-Decene Market by Derivative (Polyalphaolefins (Synthetic Lubricants, and Others), Oxo Alcohols (Plasticizer and Detergent Alcohols)), and Region - Global Forecast to 2025", published by MarketsandMarkets, the 1-Decene Market is projected to reach USD 798 million by 2025, at a CAGR of 6.7% from USD 576 million in 2020.

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Browse in-depth TOC on "1-Decene Market"
189 - Tables
50 - Figures
207 - Pages

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The growth of the 1-Decene Market is primarily triggered by the increasing demand for PAO-based synthetic lubricants. Moreover, growing industrial activities in Middle East & Africa and Asia Pacific (APAC) is another factor driving the 1-Dcene market. Polyalphaolefins (PAOs) have gained acceptance as a high-performance lubricant as they possess highly desirable characteristics, such as high viscosity index, thermal stability, oxidative stability, compatibility with mineral oils, and low toxicity. PAOs not only offer the advantages of technical performance but also preserve the environment in certain sensitive applications. PAO-based synthetic lubricants offer superior performance in offshore drilling applications, where environmental concerns are high. In addition, certain PAOs are biodegradable and thus can be used as substitutes for vegetable-based oils. The PAO-based synthetic lubricants tend to eliminate the performance errors associated with drilling operations.

PAOs is the largest derivative type of 1-Decene market.

The PAOs segment accounted for the largest share of the global 1-Decene Market in terms of value in 2019. This is mainly because PAOs are used in various synthetic products, such as lubricants, greases, and fluids. The demand for PAOs is majorly driven by their molecular stability and pureness. Greater oxidative stability, superior volatility, excellent low-temperature viscosities, high viscosity index, and excellent pour points drive the demand for PAOs in comparison to mineral oils.

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North America is estimated to be the largest market for 1-Decene during the forecast period.

North America is the largest market for 1-Decene, followed by Europe and Asia Pacific. Factors contributing to the growth of North American market are the rising demand for synthetic lubricants in automotive and industrial applications. Increasing the production capacity of PAOs in the US by INEOS and Chevron Phillips, among other players, is another factor driving the demand for 1-Decene. The presence of global PAOs manufacturers such as Exxon Mobil (US) and Chevron Phillips Chemical (US) will support the growth of 1-Decene in North America. The increase in the capacity expansion of linear alpha olefins (LAO) and PAO in the region drive the 1-Decene Market. Increasing the production of oxo alcohols to meet the growing demand for detergent alcohols and plasticizer alcohols is another reason driving the demand for 1-Decene in the region. Increasing shale gas exploration in North America, i.e., ease of availability of raw material, is another factor driving the demand for 1-Decene in the region.

The key market players profiled in the report include as Royal Dutch Shell (Netherlands), INEOS (UK), Chevron Phillips Chemical Company LLC (US), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), Qatar Chemical Company II Ltd. (Qatar), Idemitsu Kosan Co., Ltd. (Japan), PJSC Nizhnekamskneftekhim (Russia), Alfa Aesar (US), Merck Group (Germany), Toronto Chemical Industry Company Limited (Japan), Spectrum Chemical Mfg. Corp. (US), Agene Chemicals (UK), and Gelest Inc. (US), among others.

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Browse Adjacent Markets: Specialty Chemicals Market Research Reports & Consulting

Related Reports :

Alpha Olefins Market by Type (1-Butene, 1-Hexene, 1-Octene, 1-Decene, 1-Dodecene), Application (Polyolefin Co-monomers, Surfactants and Intermediates, Lubricants, Fine Chemicals, Plasticizers, Oil Field Chemicals), and Region - Global Forecast to 2022
https://www.marketsandmarkets.com/Market-Reports/alpha-olefin-market-1282.html

Plasticizers Market by Type (Low Plasticizers Market by Type (Phthalates, Non-Phthalates), Application (Flooring & Wall Covering, Wire & Cable, Coated Fabric, Consumer Goods, Film & Sheet), and Region (Asia Pacific, Europe, North America) - Global Forecast to 2022
https://www.marketsandmarkets.com/Market-Reports/plasticizers-market-688.html

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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