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Linear Alpha Olefin Expand With Significant Cagr During 2010-2025
Linear Alpha Olefin Market in Asia Pacific region has seen above-average growth in the last five years due to increasing demand for polyethylene and other plastic materials in major economies like China and India. The Butene-1 demand in the Asia-Pacific region in 2017 was estimated to be around550 kilo tons. It is forecast to grow at a CAGR of 8.0% between 2018 and 2025to reach 1011.7-kilo tons in 2025. The growth can be attributed to the increase in polyethylene demand in the region for major applications including packaging, films and construction & infrastructure applications like piping. Butene-1 demand for polyethylene co-monomers is likely to increase its market share from around 86% in 2017 to around 88% by 2025 while all other miscellaneous applications such as valeraldehyde and 1, 2-butylene oxide and polybutene-1 together are expected to witness a small decrease in the market share. This is owing to increased use of butene-1 in polyethylene production to meet the demand for polyethylene in countries like China, India and for exports to the other regions of the world.
In terms of Butene-1 consumption, China is expected to grow at 10.5% during the forecast period due to strong growth in its polyethylene applications.In Asia Pacific, the polyethylene application accounts for more than 86% of making it one of the major applications of Butene-1 on account of the strong demand from LLDPE and HDPE end-use applications and rising middle class, and increase in disposable income in China, India, Indonesia and other developing economies. China has a strong petrochemicals industry with a lot of focus on research and development activities and a lot of new polyethylene, polypropylene and other chemical capacities were added in 2009 – 2014. China further plans to add new swingHDPE/ LLDPE and dedicated HDPE polymers capacities during the forecast period. India has also invested in polyethylene plants in the country and it is now a net exporter of polyethylene. There is one capacity planned by LongsonPetrochemical Company in Vietnam and other mid-sized polyethylene plants in Thailand as well. This can prove to be a driving force for butene-1 demand in the Asia Pacific region.
China is the biggest market for butene-1in the region in 2017 with a consumption of almost 226 kilo tons accounting for almost 41% of the regional demand. It has benefited owing to huge demand for polyethylene to meet it infrastructure and construction needs. South Korea isthe second biggest market and the total demand was estimated to be 72.1 kilotons accounting for share of 13.1% and estimated to grow at a CAGR of 2.3% on account of increase in consumption of LLDPE in the region. India’s butene-1consumption in 2017 has been estimated at 63.3 kilo tons followed by Thailand 61.1 kilo tons. All of other countries like Vietnam, Malaysia, Thailand, Singapore and other Rest of Asia-Pacific individually consume between 10 kilo tons to 25kilo tons each. China and India will see the strongest level of demand growth spurred on by new investments for polyethylene plants and increasing manufacturing sector. Both the countries have one of the largest and most diverse plastics manufacturing sectors and still remain the attractive location for manufacturing.
The Asia-Pacific Butene-1 in terms of value was estimated to be around USD 467.7 million while the higher LAO market was valued at USD 149.6 million. The Asia-Pacific region is expected to be one of the largest market in the long-term forecast owing to strong plastics and polymers industry and fast-growing market in major Asian countries like China, Japan, India, South Korea, and other Asia-Pacific countries. The regional Butene-1 market is projected to reach USD 895.3 million by 2025, at a CAGR of almost 8.5%. Increasing demand for Polyethylene applications especially LDPE and some demand from HDPE are expected to fuel the demand for butene-1.
In terms of value, the biggest market in Asia-Pacific for butene-1 is China followed by South Korea. The Asia-Pacific Butene-1 market was valued at USD467.7 million. The third biggest market was India estimated at USD 53.8million. The Higher LAOs value market was around USD 149.6 million in 2017 and it is expected to grow at a CAGR of 3.7% during the forecast period to reach USD 199.2 million.
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