Olefin derivatives are formed by processing of basic olefins such as ethylene, propylene, and C4 (butenes, butadiene, etc.), which are the building blocks of the petrochemicals industry. Global demand for olefin derivatives has increased significantly of late. This can be ascribed to the varied usage of these derivatives in the manufacture of other chemicals and petrochemicals. Olefin derivatives such as acetonitrile are extensively employed in the pharmaceuticals industry. Derivatives such as cumene, styrene, and acrylonitrile are used in the manufacture of their polymers such as polyacrylonitrile and polystyrene rubber. They are used in making fibers and other polymer compounds used to manufacture products that are employed in daily usage.
Olefin Derivatives Market: Overview
Based on type of olefin, the olefin derivatives market can be classified into ethylene based, propylene based, and C4 based. The polypropylene based segment holds major share of the olefin derivatives market in terms of volume. In terms of type of derivative, the olefin derivatives market can be divided into propylene oxide, acrylonitrile, cumene, acrylic acid, ethylene oxide/glycol, PVC (polyvinyl chloride), styrene, alpha olefins, VAM (vinyl acetate monomer), butene-1, butanol, polyisobutylene, and others. The market for olefin derivatives does not include polymeric forms of these basic olefins such as polyethylene and polypropylene. Based on end-use, the olefin derivatives market can be segregated into industrial, elastomers, engineering plastics, pharmaceuticals, and others.
Olefin Derivatives Market: Trends & Developments
Olefin derivatives are used in a wide range of industries and end-uses. Therefore, consumption of these derivatives has been rising owing to the growth in global population. However, the market has reached maturity in terms of application; there are little to no developments pertaining to new and diversified uses of these derivatives. Hence, the market is likely to be largely dependent on the gross domestic product (GDP) growth of various economies across the globe in the near future.
Olefin Derivatives Market: Regional Outlook
In terms of region, the global olefin derivatives market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is the major consumer of olefin derivatives in the world. Growth in the olefin derivatives market in the region is led by countries such as India and China, which are some of the fastest growing economies in the world. Asia Pacific has a large market for olefin derivatives, as these derivatives are ultimately used in products required in day-to-day life. Asia Pacific is expected to be the fastest growing region of the global olefin derivatives market during the forecast period. In terms of consumption, North America is also a key region of the global olefin derivatives market. Demand for olefin derivatives in the region has been increasing owing to the rise in domestic demand along with growth in demand for these derivatives in regions such as Europe and Latin America where products from North America are supplied. Europe is also a significant consumer of olefin derivatives. Latin America and Middle East & Africa are relatively smaller markets, but offer lucrative opportunities for olefin derivatives.
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Olefin Derivatives Market: Key Players
Key players operating in the Antiblock Additives market include Mitsubishi Chemical Holdings (Japan), Repsol (Spain), INEOS Group Holdings (the U.K.), Royal Dutch Shell (the Netherlands), PetroChina (China), BASF (Germany), China National Petroleum Corporation (China), China Petroleum and Chemical Corporation (China), Huntsman Corporation (the U.S.), LyondellBasell (the U.S.), and DowDupont (the U.S).
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