1-Decene Market Share

North American Market Forecast   

The North American 1-decene market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The major factors that are estimated to drive market’s growth in the forecast period are the rapid expansion of the automobile industry along with the high demand for vehicles by the rising population in the region. Moreover, 1-decene is an excellent option to work as a lubricant, gear oil, transmission, and compressor in automobiles. As per the International Organization of Motor Vehicle Manufacturers (OICA), the sales of all types of vehicles in the American region grew from 20,814,832 in 2020 to 22,001,152 in 2021, whereas the production of the same region was 16,151,639 vehicles in 2021. Furthermore, the continuous expansion of the petrochemical infrastructure and the oil & gas sector in the U.S., Canada, and Mexico is expected to increase the utilization of 1-decene in the following years. Noteworthy growth in the packaging industry, along with the chemical industry, is also expected to bring lucrative opportunities for the expansion of market size. Recent reports calculated that the chemical industry in the United States region amounted to almost USD 550 billion in 2019.

APAC Market Statistics

Moreover, the market in the Asia Pacific region is also expected to show a notable success rate. The rapid technological advancement, along with the surge in demand for polyethylene from various industries is expected to impetus the market growth in the region.