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CHEMICALS AND ADVANCED MATERIALS

1-Decene Market Analysis by Derivative {Polyalphaolefins (Synthetic Lubricants, and Oxo Alcohols)}; by Grade (Bio-based, and Synthetic); by Application (Surfactants, Plasticizers, and Others); and by End-Use Industry (Food & Beverage, Pharmaceutical, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Shell group is all set to start the production of the fourth alpha olefins (AO) unit at its Geismar, Louisiana, USA chemical manufacturing site. 

  •  Exxon Mobil Corporation has decided to invest USD 2 billion to expand its Baytown, Texas chemical plant.

 

Global 1-Decene Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Base Year

2022

Forecast Year

2023-2035

CAGR

~9.70%

Base Year Market Size (2022)

~ USD 1.66 Billion

Forecast Year Market Size (2035)

~ USD 5.04 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global 1-decene market is estimated to garner a revenue of ~USD 5.04 billion by the end of 2035 by growing at a CAGR of ~9.70% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 1.66 billion in the year 2022. The primary factor that is attributed to bringing lucrative growth opportunities in the market is the expansion of the manufacturing sector and the use of PAO as a raw material in many manufacturing industries. In the latest report, it was stated that the revenue generated by the manufacturing industry of the U.S. was approximately USD 9 trillion as of 2022.

 1- decene market analysisGet more information on this report:Download Sample PDF

Rapid urbanization and industrialization have led to a demand for 1-decene for varied processes in the manufacturing sector. Owing to its great advantages such as the high-level of lubricant, superior quality, and highly effective have propelled the population engaged in the manufacturing industry to use 1-decene. Thus, the growing manufacturing businesses are expected to increase the utilization rate of 1-decene in the forecast period.

Global 1-Decene Market: Growth Drivers and Challenges

Growth Drivers

  • Growth in Automotive Industry - 1-decene is being highly adopted in the automotive and manufacturing industries as a transmission, compressor, lube-oil added substance, and gear oil. This trend is projected to increase demand for 1-decene in the assessment period. Recent statistics reveal that the global automotive industry is expected to reach approximately USD 9 trillion by 2030.  

  • High Consumption of Packaged FoodThe latest report showed that the global sales of packaged food rose to around USD 3 trillion in 2019 from USD 2 trillion in 2016.

  • High Investments by Companies in R&D ActivitiesWorld Bank showed the data of Research and Development expenditure to be 2.63% of total GDP in 2020, up from 2.13% of total GDP in 2017.  

  • Recent Advances in Chemical Industry The focus of government and expenditure made the chemical industry grow. This has propelled the Indian chemical industry to grow by a CAGR of 10% with a revenue of USD 300 billion by 2025.

Challenges

  • Highly Toxic in Nature – its improper use can cause irritation to the eyes and respiratory tract and also has CNS depressant properties. The ingestion of 1-decene may lead to aspiration causing lung damage. It is also toxic to aquatic life with long-lasting effects.

  • Fluctuation in Costs of Raw Materials

  • Rising Concern for Stringent Governmental Rules

The global 1-decene market is segmented and analyzed for demand and supply by end-use industry into food & beverage, pharmaceutical, paints & dyes, and others. Out of these, the food & beverage segment is expected to garner the highest market share by 2035, owing to the high consumption of food and beverage products along with the rising use of 1-decene as a food additive. In 2021, food manufacturing sales reached almost USD 120 billion and are projected to increase at a steady rate of 7%.

Global 1-Decene Market Regional Synopsis

The North America 1-decene market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035, backed by the high demand for vehicles augmenting the automotive sector in the region along with the growing chemical industry is expected to bring lucrative opportunities in the upcoming years. As per the International Organization of Motor Vehicle Manufacturers (OICA), the sales of all types of vehicles in American region grew from 20,814,832 in 2020 to 22,001,152 in 2021, whereas the production of the same region was 16,151,639 vehicles in 2021. Also, the revenue generation by the chemical industry in the United States region amounted to almost USD 550 billion in 2019.

 1- decene market region

Market Segmentation

Our in-depth analysis of the global 1-decene market includes the following segments:

         By Derivatives

  • Polyalphaolefins
  • Synthetic Lubricants
  • Oxo Alcohols
  • Plasticizer
  • Detergent Alcohols

         By Grade

  • Bio-based
  • Synthetic

         By Application

  • Surfactants
  • Plasticizers
  • Synthetic Lubricants
  • Polyethylene

        By End-Use Industry

  • Food & Beverage
  • Pharmaceutical
  • Paints & Dyes

Top Featured Companies Dominating the Global 1-Decene Market

  • Shell Group

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Exxon Mobil Corporation
  • Ineos AG
  • Chevron Phillips Chemical Company LLC
  • Sasol Limited
  • Qatar Chemical Company Ltd
  • Idemitsu Kosan Co., Ltd.
  • Saudi Basic Industries Corporation
  • Alfa Aesar (Thermo Fisher Scientific)
  • Gelest, Inc.

 

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