1-Decene Market Trends

Growth Drivers

• Growth in Automotive Industry - 1-decene is being highly adopted in the automotive and manufacturing industries as a high-quality lubricant, anti-corrosive, and high resistance power. This trend is projected to increase demand for 1-decene in the assessment period. Recent statistics reveal that the global automotive industry is expected to reach approximately USD 9 trillion by 2030. 

• High Consumption of Packaged Food – Hydrogenated poly-1-decene, originating from 1-decene is heavily used as a substitute for white mineral oil in glazing and polishing packaged food items such as dry fruits and sugar confectionery. Thus, an increase in demand for packaged food is forecasted to bring growth opportunities for the market growth in the future. The latest report showed that the global sales of packaged food rose to around USD 3 trillion in 2019 from USD 2 trillion in 2016.

• High Investments by Companies in R&D Activities – World Bank showed the data on Research and Development expenditure to be 2.63% of total GDP in 2020, up from 2.13% of total GDP in 2017 across the globe.

• Recent Advances in Chemical Industry – The focus of government and expenditure made the chemical industry grow.  This has propelled the Indian chemical industry to grow with a revenue of USD 300 billion by 2025.

Challenges

• Highly Toxic in Nature – 1-decene carries an odor that is toxic and also has CNS depressant properties. Its improper use can irritate the eyes, and respiratory tract, and also cardiovascular problems. The ingestion of 1-decene may lead to aspiration, causing lung damage. Additionally, it is toxic to aquatic life with long-lasting effects. Thus, the harmful nature of 1-decene is attributed to pose a challenge to market growth.

• Fluctuation in Costs of Raw Materials

• Rising Concern for Stringent Governmental Rules