Internal Olefins Market- Size, Share,
Outlook, and Opportunity Analysis,
2018 - 2026
The global internal olefins market was valued at US$ 1.64 billion in 2017 and is anticipated to
register a CAGR of 4.7% in terms of revenue, over the forecast period (2019 – 2026), to reach
US$ 2.46 billion by 2026.
Internal olefins are high-value chemicals, produced by dehydrochlorination or chlorination of linear
paraffins. It is used in various applications such as lubricants, oil drilling, surfactants, and
agrochemicals. Internal olefins are valuable intermediate for processes such as synthesis of linear alkyl
benzenes and oxo alcohols. It is also used during drilling mud, paper sizing, and for lubrication-based
oil.
Lubricants application segment is expected to show a significant growth in global internal olefins
market in 2018. This is attributed to increasing number of motor vehicles, as lubricants reduce the
friction between surfaces. According to U.S. International Trade Organization (ITA), in the U.S., the
sales of light vehicle reached 17.1 million units in 2017. Also, the U.S. is the world’s second largest
market for production and sales of vehicles.
Oil drilling segment is the fastest growing application segment in global internal olefins market in
2018, owing to increasing number of oil drilling activities. According to the U.S. Energy Information
Administration (EIA), around 330 units of crude oil rotary rigs were in operation in June 2016, which
increased to 861 units of crude oil rotary rigs in July 2018, in the U.S.
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North America held significant market share in the global internal olefins market in 2017, owing to
increasing oil and gas exploration due to shale gas revolution, which in turn expanded drilling activities
in the region. According to the U.S. Department of Labor, Bureau of Labor Statistics, production of
shale gas in the U.S. increased from 1.3 trillion cubic feet (Tcf) to 15.8 trillion cubic feet (Tcf) during
2007 to 2016.
However, easy availability of internal olefins substitutes such as poly-alpha-olefins is expected to
hinder growth of internal olefins market. Furthermore, fluctuating prices of ethylene is also hampering