Press Releases

Global Olefin Derivatives Market to see 5.6% Annual Growth Through 2022

June 25, 2018

WELLESLEY, Mass., June 25, 2018 – Growing demand from emerging economies such as India and China, plus low interest rates and oil prices, are conspiring to drive the global olefin derivatives market, according to a report by BCC Research.

The industry expects to see a compound annual growth rate (CAGR) of 5.6% through 2022, when it could be worth $103.4 billion, according to the report Olefin Derivatives: Global Markets to 2022.

Major players in the market mentioned in this report include Mitsubishi Chemical Holdings, Repsol, INEOS Group Holdings, Royal Dutch Shell and PetroChina, among many others.

Research Highlights

  • The Asia-Pacific region is the strongest market for olefin derivatives, accounting for almost one-quarter of global revenue. The Asia-Pacific region was followed by strong growth in North America and Western Europe.
  • The largest single market for olefin derivatives is China, while China and India are expected to have the quickest growth, at 8.5% and 7.9%, respectively.
  • By product, the market was led by vinyls, which accounted for nearly one-third of sales in 2017. The highest growth through 2022 is anticipated to come from oxo alcohols, which have a forecast CAGR of 7.2%.

“Low interest rates in most developed countries had a positive impact on the olefin derivatives market,” the report notes. “This increased the flow of money for investment by encouraging borrowing and helped drive the spending. Companies took loans for process improvements, expansion plans, acquisitions and other activities.”

Market Challenged by Safety Concerns and Recycled Plastics

Though growth is strong, the market is seeing some factors which could hamper growth. Safety is a major concern among manufacturers, distributors and users of olefin derivatives, with the chemicals being potentially explosive. Some states have adopted stringent regulations to govern how olefin derivatives can be used and transported. Meanwhile, environmental concerns and government regulations are promoting the use of recycled plastics, which is reducing demand for derivatives such as ethylene glycol and vinyls.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com. 

Olefin Derivatives: Global Markets to 2022( CHM102A )
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