New York, USA, March 01, 2021 (GLOBE NEWSWIRE) — A new report on the global linear alpha olefins market has been added by Research Dive to its repository. As per the report, the market is expected to garner $11,747.8 million by 2026, growing at a CAGR of 4.9% from 2019 to 2026 . This report offers detailed insights into the present situation and future scope of the global industry. The report is articulated by expert market analysts and guarantees to be a reliable source of data and thorough market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
Growing usage of alpha olefin and increasing demand for polyethylene in the automobile sector are the major factors thriving the growth of the global linear alpha olefins market . However, higher cost of raw materials and manufacturing of the component are likely to hinder the market growth. On the other hand, growing focus of leading market players on the extraction of raw material from environment friendly products for reducing the cost of raw materials as well as production and decreasing the gap between supply and demand are likely to reveal profitable opportunities for the market growth during the course of the forecast period.
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The report segments the global linear alpha olefins market into product type, application, and region.
1-Hexen Sub-Segment to Observe Highest Growth
Among product type segment, the 1-Hexen sub-segment is anticipated to witness highest growth by garnering $2,678.5 million by 2026. This is mainly because of the growing demand for 1-Hexen due to its excellent chemical properties.
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Polyethylene Manufacturing Sub-Segment to Lead the Market
Among applications segment, the polyethylene manufacturing sub-segment is anticipated to dominate the market by registering a CAGR of 4.5% during the forecast period. This growth is mainly owing to growing usage of low-density polyethylene (LDPE) across various industrial sectors.
North America Region Market to Dominate the Market
The report analyzes the global linear alpha olefins market across several regions such as Asia Pacific, Europe, North America, and LAMEA. Among these, the North America region market is anticipated to dominate the market growth and collect a revenue of $3,395.1 million by 2026. This is mainly owing to the diverse and massive industrial base with continuous advancement in the petrochemical and gas & oil infrastructure in this region.
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Major Players in the Market:
1. Qatar Chemical Company Ltd (Q-chem).
2. Chevron Phillips Chemical Company LLC
3. Mitsubishi Chemical Corp
4. Exxon Mobil Corporation
5. INEOS Oligomers
6. Petrochemicals(M) Sdn.Bhd,
7. Royal Dutch Shell
8. Evonik Industries
9. JAM Petrochemicals Company
The report also caters numerous industry-top tactics and approaches like top strategic moves & developments, product/service range, business performance, Porter Five Forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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