1-Decene Market

1-Decene Market Size-(2023-2028)

The 1-Decene Market size is projected to reach USD 798 million by 2028 from USD 576 million in 2022, at a CAGR of 7.7% during the forecast period-2023-2028

1-Decene is obtained through a process known as oligomerization of ethylene and it can only be produced through full-range alpha-olefin distribution that cannot be obtained through on-purpose production processes like 1-hexene or 1-octene. This has led to a limited C-10 supply for PAO production. A limited supply of PAO in the market has left synthetic lubricant manufacturers with fewer choices and the only viable option is to seek alternate raw materials for oil production. Ester-based synthetic oils are therefore getting popular and are likely to affect 1-decene market growth over the forecast period.

Market Drivers of the 1-Decene Market

High consumption and growing production capacities have provided a copious amount of investment opportunities and have sparked growth in the worldwide 1-decene market. Growing research and development activities in the field of alpha-olefins combined with the growth of the wind power sector in areas like Europe have increased the demand for 1-decene products around the world.

Restraints in the 1-Decene Market

In the past few years, the popularity of electric vehicles and hybrid vehicles has significantly increased. These are not completely dedicated to IC engines for their functioning hence their consumption for lubrication is also low. This has had a severe impact on the demand for lubrication as these vehicles cut the demand by almost half.

The environmental impacts of the old lubricants cannot be overlooked and thus they need to be replaced with environment-friendly products. This transition is not always smooth and requires a lot of time and resources. The COVID-19 pandemic is also a major reason for the slowdown of this industry. In addition to this, volatility of the prices is also considered as a restraint for the 1-Decene market.

Opportunities in the 1-Decene Market

The global 1-decene market is anticipated to witness lucrative growth in the future due to the demand from various end-user verticals like automotive, manufacturing and so on. The rising need for alternative energy sources has augmented the usage of solar power and wind power. The growth in the wind power industry is estimated to create promising opportunities for the development of the 1-decene business in the foreseen years.

Challenges in the 1-Decene Market

The global 1-Decene industry has always been critically sensitive to the economic conditions along with the supply-demand scenario. The 1-decene market price is often dependent on cost and pricing method, as raw material costs play a pivotal role. Ethylene prices have been flickering in the past and a similar trend can be observed in the case of alpha-olefin prices as well.

1-DECENE MARKET REPORT COVERAGE:

This research report includes the segmentation of the 1-Decene Market until 2028.

On the basis of the Method of Production:

The market is separated into Catalytic Cracking, Oligomerization of Ethylene, and others. Catalytic cracking of large carbon chains is not very efficient as it produces many by-products and is energy-intensive. That is why most of the 1-Decene produced is through the oligomerization of ethylene. In 2020 the oligomerization of Ethylene accounted for the largest segment in the method of production.

On the basis of the Application:

The market is separated into Polyalphaolefins, Polyethene, detergents, and surfactants, among others. 1-Decene is used to produce detergent alcohols which are used in the manufacture of industrial surfactants. The largest consumer of 1-Decene is, however, the lubricant industry.

On the basis of Region:

• North America 
• Europe
• Asia Pacific 
• Latin America 
• Middle East and Africa

Europe was the largest consumer of 1-Decene in 2020. The massive automobile industry of Europe was one of the biggest consumers of reagents on the continent. In Europe Belgium, Germany, and the Czech Republic were the biggest consumers. However, the manufacturing industries of Asia Pacific are catching up. During the forecast period, the market of 1-Decene is expected to grow the fastest in the Asia Pacific region. Countries like China, India, Japan, and Malaysia are expected to drive the growth of the market in the Asia Pacific.

Recent Developments

• Israel recently discovered many oil and gas fields, one of the gas fields discovered, Leviathan gas field, might be the largest offshore gas field ever discovered. This could be a game-changer for the industry as it could have potentially changed the geodynamics of the region.

• The Trump administration recently sanctioned the Venezuelan state-owned oil company. This could give countries that are willing to ignore the US sanctions access to dirt cheap Venezuelan oil.

• Saudi Aramco, the biggest oil company in the world is preparing for an initial public offering. The company could be valued as highly as USD 2 trillion.

Major companies playing their trade in the 1-Decene Market include 

1) ExxonMobil Corporation (USA)

2) Chevron Phillips

3) Chemical Company (USA)

4) Royal Dutch Shell (Netherlands)

5) Ineos Group Limited (Switzerland)

6) PJSC Nizhnekamskneftekhim (Russia)

7) Saudi Aramco (Saudi Arabia)

8) Sasol Limited (South Africa)

9) Qatar Chemical Company (Qatar)

10) China National Petroleum Corporation (China) 

11) Indian Oil Corporation Limited (India)