The Global Alpha Olefins Market is projected to register a CAGR of more than 5% during the forecast period (2021-2026).
The market was negatively impacted by the COVID-19 pandemic due to nationwide lockdowns, strict social distancing measures, and worldwide traveling restrictions that disrupted the automobile, oil and gas industry. The oil demand in China suffers the most in the first quarter, with a year-on-year fall of 1.8 million barrels per day (mb/d). In the second quarter, an improving situation in China offsets deteriorating demand elsewhere. However, a progressive recovery takes place through the second half of 2020. For 2020 as a whole, the magnitude of the drop in the first half leads to a decline in global oil demand of around 90,000 barrels a day compared with 2019 which affected the growth of the alpha olefins market.
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– Over the medium term, the major factor driving the market is growing demand from the paper and pulp industries.
– On the flip side, stringent environmental regulations due to the non-biodegradable nature of polyethylene is hindering the growth of the alpha olefins market.
Key Market Trends
Increasing Usage in Surfactants Application
– Surfactants are present in a wide range of cleaning products, and one of the usual groups is anionic surfactants, which are particularly valued for their foaming ability. There is a multitude of anionic surfactants for use in detergents, although the most commonly used today are the salts of dodecylbenzene sulfonic acid and ethoxylated sodium lauryl sulfate.
– Conversely, new trends have led to a rethinking of the suitability of these surfactants, due to factors such as hazardous or difficult handling, biodegradability, compatibility with skin and fabrics, efficiency in low-temperature washing, or transport costs linked with diluted products. For this reason, ingredients developed in the last century such as Alpha-Olefin Sulfonate (INCI: Sodium C14-16 Olefin Sulfonate), are once again of interest in the detergency and cosmetic sectors.