The internal olefins market is poised for significant growth over the next several years, driven by increasing demand from various sectors such as lubricants, oil drilling, surfactants, and agrochemicals. This report provides an in-depth analysis of the market trends, drivers, and challenges, along with a detailed forecast for the period from 2025 to 2032.
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Internal olefins are high-value chemicals synthesized through the dehydrochlorination or chlorination of linear paraffins. They serve as crucial intermediates in the production of linear alkylbenzenes and oxo alcohols, and are widely used in applications such as engine oil, industrial lubricants, drilling mud, and paper sizing processes12. The global internal olefins market was valued at approximately USD 2.20 billion in 2024 and is projected to reach USD 3.29 billion by 2033, indicating a compound annual growth rate (CAGR) of about 4.6% during the forecast period1.
However, for the specific period from 2025 to 2032, the market is anticipated to grow at a slightly different pace. Based on available data, the market is expected to register a CAGR of around 5.5%, reaching approximately USD 3.35 billion by 2032.
Increasing Demand for Lubricants and Oil Drilling Applications: The expanding global demand for crude oil and its byproducts, coupled with the need for environmentally friendly industrial fluids, is driving the growth of the internal olefins market.
Growing Use in Agrochemicals: The steadily expanding agriculture sector in both emerging and developed economies is boosting the demand for internal olefins in agrochemicals23.
Urbanization and Industrialization: The increasing pace of urbanization and industrialization, along with rising vehicle ownership, is expected to enhance the demand for internal olefins in lubricant applications1.
Availability of Substitutes: The easy availability of substitutes such as poly-alpha-olefins could limit market growth2.
Fluctuating Raw Material Costs: Variations in the cost of raw materials could negatively impact the market over the forecast period
Industrial: Used in lubricants and oil drilling.
Agricultural: Employed in agrochemicals.
Pharmaceutical: Offers benefits in terms of toxicity and biodegradability3.
Oil Drilling: Holds the largest market share due to its stability and lubricity.
Surfactants: Used in detergents and cleaning products.
Lubricants: Essential for engine oil and industrial applications.
Agrochemicals: Supports the growing agriculture sector.
Pharmaceutical: Offers human safety benefits.
Asia Pacific: Dominates due to substantial demand in countries like China and India.
North America: Significant share attributed to the shale gas revolution37.
Key players in the internal olefins market include INEOS Group Limited, Sasol Limited, Royal Dutch Shell plc, Elevance Renewable Sciences, Inc., Chevron Corporation, SABIC, Halliburton Company, Schlumberger Limited, Shrieve Chemical Company, and Idemitsu Kosan Co., Ltd