Global 1-Decene from Palm Oil Metathesis Market by Application, by End-use, and by Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) – Forecast from 2020 to 2029

The global 1-Decene from palm oil metathesis market is expected to be valued over US$ 0.3 Bn in 2029 and is projected to register a compound annual growth rate of 4.4% over the 10-year forecast period. The 1-Decene from palm oil metathesis market report has been segmented on the basis of application, end-use, and region/ country.

Overview

Decene is hydrocarbon in an unsaturated form, and with the chemical formula C10H20.  Decene is toxic alkene and is a clear or white mobile fluid. Generally, it is derived by the oligomerization of ethylene. Sometimes, it is produced by separating high carbon content present in petroleum waxes. Depending on the attached functional group, there are numerous types of decene isomers. Amongst which, α- decene, i.e., 1-decene, is most common isomers in industrial application. Additionally, 1-Decene acts as chemical transitional during the production of lubricants, epoxides, amines, detergents & derivatives, and alkylated aromatics. Renewable materials derived from vegetable oils are widely used these days for developing polymers, and the production of 1-Decene from the metathesis of palm oil is one such example. One of the applications of these polymers is in the field of EOR, i.e., Enhanced Oil Recovery, where these polymers are placed in injection wells to enhance water viscosity that results in the production of higher efficiency oil. Metathesized palm oils are now a significant source of fine chemicals. Mainly because of commercial production of 1-decene and 3,4-dodecane by cross-metathesis of 1-butene and palm oil. Palm oil or for instance, any other natural oil are used in abundance these days for the production of chemicals, and the main reason is that they are environment-friendly. There is a noticeable transformation from the use of fossil-based chemicals to bio-based chemicals enabling the use of locally sourced natural oils that include canola, soybean, and palm.

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Dynamics: Global 1-Decene from Palm Oil Metathesis Market

Drivers:

Government initiatives across the globe, promoting the use of green chemicals, are driving the market. Not just 1-decene from palm oil obtained through metathesis is bio-based the process reduces the source of pollution and is significantly reduces the energy consumption, which is foreseen to boost the market.

Robust growth in chemical industries has widely increased the demand for 1-decene. Also, recently, plant oils are transformed into bio-aviation fuels, as well. Increased demand for 1-decene in chemicals, aviation, automotive, and several other end-use industries is anticipated to drive the market over the forecast period.

The metathesis process reduces overall manufacturing cost and capital expenditure, which increases the adoption of palm oil metathesis for 1-Decene production. Further continuous efforts of organizations such as RSPO (Roundtable on Sustainable Palm Oil) that promotes growth and use of palm oil products is expected to boost the market growth.

Restraints:

Although government bodies across the globe are promoting the use of fine chemicals produced through natural oils that include palm oil, however, there are many stringent regulations associated with it.

Palm oil cultivation has been criticized in many countries because of its impact on the natural environment. These impacts include deforestation and emission of greenhouse gases

Opportunities:

Global palm oil production is increasing tremendously with every passing year. According to FOA countries, for instance, Indonesia, Malaysia, Nigeria, Thailand, and others are amongst the world’s largest producers of palm oil. High production of palm oil and low labor cost in these areas serves as a significant opportunity for market growth, particularly in these untapped economies.

Growing demand for 1-decene in emerging economies of Asia Pacific such as China and India, owing to robust industrialization in these countries is projected to offer lucrative revenue growth opportunities for major existing players as well as new entrants to enter the Asia Pacific market.

Opportunity Map Analysis:

Going by an optimistic scenario, the global 1-Decene from palm oil metathesis market revenue is expected to expand at a CAGR of over 5% and is expected to be valued at approximatley US$ XX Bn in 2029. Considering a likely scenario, the global 1-Decene from palm oil metathesis market revenue is expected to expand at a CAGR of 4.4% and reach a value exceeding US$ 0.3 Bn. While a conservative scenario would result in the global 1-Decene from palm oil metathesis market registering a CAGR of 3.6% and value of around US$ XX Bn over the 10-year forecast period.

Global 1-Decene from Palm Oil Metathesis Market Segment Analysis:

By Application: Among the four application segments, the surfactants segment is projected to record major share in terms of revenue and register highest growth rate of more than 5.1% over the 10-year forecast period.

By end-use: Among the end-use segments, the household detergents segment is estimated to record majority revenue share and register highest compound annual growth rate of more than 5.1% over the 10-year period.

Global 1-Decene from Palm Oil Metathesis Market: Analysis by Region:

The Asia Pacific market is projected to dominate the other regional markets in the global market and register highest growth rate of more than 5.1% over the next 10 years, followed by the market in North America, respectively.

Key Developments by Companies

Merck KGaA (Year 2019)

Acquisitions/Mergers/Takeovers; In February, Merck entered into an agreement to acquire Versum Materials for US$5.9 billion.

Patent Grant; In January, the group received the patent grant for novel combination of artificial intelligence and blockchain technology by the United States Patent and Trademark Office.

Corporate Awards; In January, the group won the 2018 Life Science Industry Award for best use of social media.

Contracts/Agreements; In February, the group entered into a global strategic alliance with GSK, to jointly develop and commercialize M7824

Corporate Changes/Expansions; In March, the group opened its new M Lab Collaboration Center in Molsheim, France.

Contracts/Agreements; In March, the group signed a Memorandum of Understanding with GenScript to create global-standard platform for plasmid and virus manufacturing in China.

Royal Dutch Shell plc (Year 2019)

Divestiture; In January, the company divested its New Zealand upstream business to OMV, worth US$578 million.

Contracts/Agreements; In February, the company signed a sale and purchase agreements with Anadarko Petroleum for liquid natural gas.

Contracts/Agreements; In February, Shell signed an agreement to acquire North Sea licenses from Cluff Natural Resources.

Contracts/Agreements; In January, the company's subsidiaries and Spirit Energy partnered with Faroe Petroleum to develop the cross-border Edinburgh prospect.

Contracts/Agreements; In February, Shell partnered with Innogy to invest in a EUR18 million demonstration project by Stiesdal Offshore Technologies.

Acquisitions/Mergers/Takeovers; In February, Shell New Energies, a part of Shell agreed to acquire Limejump.

Contracts/Agreements; In March, the company, subsidiary Shell US LNG signed a project framework agreement with Energy Transfer to further develop a large-scale LNG export facility in Lake Charles, Louisiana, the US.

Global 1-Decene from Palm Oil Metathesis Market Segmentation: 

By Application:

• Plasticizer Alcohols
• Synthetic Lubricant
• Surfactants
• Other Applications

By End-use:

• Chemicals
• Household Detergents
• Automotive & Aviation
• Other End Uses

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

• Chevron Phillips Chemical Company LLC
• Merck KGaA
• Idemitsu Kosan Co., Ltd.
• Royal Dutch Shell plc
• Saudi Basic Industries Corporation (SABIC)
• INEOS Group AG
• Tokyo Chemical Industry Co., Ltd.
• Exxon Mobil Corporation
• Qatar Chemical Company Ltd.