Internal Olefins Market Analysis

Internal Olefins Market Analysis

Internal olefins market size from oil drilling applications should exceed USD 1 billion by 2024. It is extensively used in drilling muds owing to its stability at high temperatures, lubricity and well-bore stability. It provides sound drilling operations compared to other terminal olefins as it is less toxic. It protects equipment in case of offshore drilling as it forms invert emulsion muds by repelling water layer. Stringent regulations by EPA & REACH pertaining to oil & gas industry and the environmental damage cause by the process along with technological developments supported by companies switching over enhanced techniques for oil recovery has led to rise in use of appropriate synthetic based fluids for drilling operation thereby driving product demand.
 

Internal olefins demand from lubricant applications may witness gains at over 4% by 2024. They are added in synthetic lubricants owing to its superior characteristics such as thermal stability, hydrolytic stability, solvency, lubricity and biodegradability. It is widely used in engine oil & industrial lubricant applications as it minimizes sludge formation and prevents oil thickening, thereby increasing lifespan and performances of vehicles and machines. Favourable regulations such as eco label status to synthetic lubricants along with growing popularity in industrial applications owing to various advantages over conventional lubricants will stimulate internal olefins market size.

Internal olefins from surfactants application may surpass USD 350 million by 2024. Increasing demand for personal care products and specialty chemical will drive surfactants market size. The product is being utilized in wide range of detergents and surfactants including shampoos, light & heavy-duty liquid detergents, dishwashing liquid and liquid hand soaps. Internal olefins are less toxic and biodegrades quickly making the surfactants free of sensitizers and skin irritants. Shift in consumer preference towards better quality and branded personal care products coupled with increased demand of detergents in household and industrial applications should positively influence product demand.
 

Europe internal olefins market size, driven by Germany, Russia and UK should witness gains at over 3.5%. Strong presence of automotive giants along with strict environment norms implemented by REACH will propel product demand. Automobile manufacturers need to comply with safety and environmental norms to provide environment friendly products. Positive application scope in automotive and industrial sector will fuel product demand.
 

China internal olefins market size should witness significant gains due to growing automotive sector. Rise in agrochemicals in agriculture industry owing to food safety along with growing consumer awareness regarding healthy lifestyle and quality personal care products will enhance product demand in the region.
 

Brazil internal olefins market should witness gains at over 3.5% by 2024. Rising population level have resulted into higher demand of food and limited usage of insecticides & fertilizers along with adoption of new technologies regarding food safety should positively influence regional industry growth.