Global 1-Decene Market Key Insights

During the forecast period of 2023-2035, the global 1-decene market is expected to reach an estimated value of ~USD 5.0 billion by 2035, by expanding at a CAGR of ~10%. The market further generated a revenue of ~USD 2 billion in the year 2022. Major key factors propelling the growth of 1-decene market worldwide are the expanding automotive industry and the higher production of chemicals across the world.

Market Definition of 1-Decene

1-decene is one of the isomers of an organic compound that contains a series of 10 carbon atoms with one double bond. The arrangement of the double bond decides the isomer of the decene. The chemical formula of decene is C10H20. Out of all the isomers, 1-decene is the only isomer that has industrial significance. It is a crucial element in the production of plasticizer alcohols. Moreover, in aircraft, industrial gear systems, crankcases, maritime applications, and automatic transmission engines, poly-alpha olefin (PAO) is utilized as a high-performance synthetic lubricant.

Global 1-Decene Market: Growth Drivers

The growth of the global 1-decene market can majorly be attributed to the expanding automotive industry, followed by growing chemical industry. 1-decene is extensively used as lube-oil, and gear oil in the automotive industry. Around the world, 80 million automobiles were produced in 2021, approximately 1.3% rise from 2020. Moreover, the revenue of global automotive industry is likely to reach USD 9 trillion by 2030. Furthermore, the chemical sector generated about 5 trillion dollars in revenue worldwide in 2021 and it is expected to add USD 300 billion to revenue by 2025. On the other hand, 1-decene is majorly used in the manufacturing of packaging material as it increases the plasticity of the material. Moreover, it enhances the resistance of plastic to extreme weather. Therefore, the growth of the market size can also be attributed to growing consumption of packaged food, where packaging materials are used widely. Global packaged food sales increased from USD 2 trillion in 2016 to over USD 3 trillion in 2019.

The global 1-decene market is also estimated to grow majorly on account of the following:
•    Rising Demand for Automobiles
•    Growing Investment in RD sector by Businesses
•    Growing Consumption of Ready to Eat Food
•    Rising Production by Chemical Industry
•    Higher Use of Detergents for Clothes and Dishes

Global 1-Decene Market: Restraining Factor

The prices of raw material used for making 1-decene is indefinite, there are strict rules imposed by the government on the production of 1-decene. Moreover, 1-decene can be severely toxic, if not used properly. Hence, these factors are expected to be the major hindrance for the growth of the global 1-decene market during the forecast period.

Global 1-Decene Market Segmentation  
•    By Derivatives (Polyalphaolefins, Synthetic Lubricants, Oxo Alcohols, Plasticizer, and Detergent Alcohols)
•    By Grade (Bio-Based, and Synthetic)
•    By Application (Surfactants, Plasticizers, Synthetic Lubricants, and Polyethylene)
•    By End-Use Industry (Food Beverage, Pharmaceutical, and Paints Dyes)

The food beverage segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2035. The growth of the segment can be attributed to the growing consumption of packaged food and beverages, followed by the growing consumption of packaged water bottles. With an average of 28 billion gallons of bottled water consumed per person in 2020, China leads the globe in bottled water consumption. The United States, with almost 15 billion gallons of usage that year, came in second.

•    By Region
The North America 1-decene market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions. The market size is expected to expand on the account of increasing sales of vehicles, backed by the growing use of 1-decene for the preparation of lubricating base oil, such as engine oils, gear oils, and greases. 1-decene is known to increase the quality of the lubricants. As per the statistics of the International Organization for Motor Vehicle Manufacturers (OICA), the sale of vehicles grew jumped to around 22 million in 2021, from nearly 20 million in 2020. Besides this, the market growth in North America is also expected on the back of the growing chemical industry of the region. One of the world's top producers of chemical goods is the United States. The value of its chemical shipments in 2021, including the pharmaceutical industry, was close to 770 billion dollars.

The market research report on global 1-decene also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global 1-Decene Market

Some of the key players of the global 1-decene market are Shell group, Exxon Mobil Corporation, INEOS AG, Chevron Phillips Chemical Company LLC, Sasol Limited, Qatar Chemical Company Ltd, Idemitsu Kosan Co., Ltd., Saudi Basic Industries Corporation, Alfa Aesar, Thermo Fisher Scientific, Gelest, Inc., and others. 

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