1-Decene Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for 1-decene is expected to grow at a CAGR of over 3% during the forecast period. The major factor driving the growth of the 1-decene market is the increasing demand from the surfactants segment as a chemical intermediate. On the flip-side, unfavorable conditions arising due to the sudden outbreak of COVID-19 is anticipated to foil the growth of the market studied.

Key Highlights

• Polyalphaolefin is expected to remain largest due to its increasing applications from the various sectors during the period of forecast.
• Asia-Pacific is expected to be the largest market due to the large-scale production and consumption of the 1-decene products in the region.

Key Market Trends

Polyalphaolefins to be the Largest Segment for 1-Decene Market

• 1-decene is majorly employed in the production of polyalphaolefins (PAO), a type of synthetic lubricant. Polyalphaolefins are significantly utilized in the automotive and manufacturing businesses.
• Moroever, they are also utilized as compressor oil, transmission oil, lube-oil added substance, and gear oil.
• In 2020, it is estimated that the worldwide wind turbine gear oil market volume amount to 41,100 million metric tons.
• By 2023, the global market value of the synthetic lubricants is anticipated to reach a value of USD 37.3 billion.
• All the aforementioned factors are expected to drive the 1-decene market during the forecast period.

Asia-Pacific Region to Dominate 1-Decene Market

• Asia-Pacific region holds a prominent share in the 1-decene market globally and is expected to dominate the market during the forecast timeline.
• In 2019, Malaysia produced approximately 138.5 thousand metric tons of lubricating oil.
• Detergent alcohols and their subordinates are key raw materials utilized for delivering surfactants in clothing and dishwashing applications. In 2020, the Asia-Pacific region is forecasted to add up to USD 8.057 billion in revenue from the dishwashing detergents section.
• The demand for polyethylene from the Asia-Pacific region is expected to be 62 million metric tons in 2022.
• Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast timeframe.

Competitive Landscape

The market for 1-decene is consolidated. Some of the players in the market include SABIC, SEA-LAND CHEMICAL COMPANY, PJSC Nizhnekamskneftekhim, Royal Dutch Shell, and Exxon Mobil Corporation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support