Australia Alpha Olefins Market Outlook

alpha olefins are a family of synthetic hydrocarbons with a general structure of ch2(ch2)nch2. they are widely used in various industries, ranging from plastics to automotive, cosmetics to agrichemicals. the demand of these molecules is on the rise in australia over the forecast period, and this trend is expected to continue up to the year 2032. alpha olefins are used in plastic, automotive and agriculture industries as well as in the production of synthetic rubbers, adhesives, polyethylene, polypropylene and elastomers. additionally, they are used in specialty chemicals such as lubricants, detergents, surfactants and stabilizers for gasoline-powered engines. australia is among the leading producers of alpha olefins products in the world. the main feedstock used for the production of alpha olefins is naphtha. alpha olefins products are extracted through steam cracking of light or heavy naphtha feedstocks, depending on the end-product quality and specifications. demand of alpha olefins is expected to increase in australia due to several factors such as increasing demand for plastic products, rise in automotive industry and booming agriculture sector. higher consumer disposable income is also expected to contribute to the increased use of alpha olefins in the production of consumer products. moreover, the growing preference for environment friendly and bio-degradable plastic products over conventional plastic products is also expected to help augment the demand for alpha olefins in the country. the asia pacific region accounted for the largest share of global alpha olefins production in 2018 and is expected to remain the largest market in terms of alpha olefins consumption, driven by economic development and strong government initiatives to support the growth of manufacturing sectors in the region. the increasing disposable income in australia and the growing demand for durable plastic end products are expected to strengthen demand of alpha olefins in the coming years in the country. the market for alpha olefins seems to be getting lucrative with the rising demand in the automotive and agriculture sectors. this is expected to lead to an increase in the production of alpha olefins in the country in the forecast period and in turn, the sales of alpha olefins.