Olefin derivatives are chemicals that are produced by further processing basic olefins. The olefins derivatives market does not include poly-olefins. Olefin derivatives are manufactured by employing various industrial chemical processing methods such as chlorination, oxidation, and ammoxidation of olefins. Olefin derivatives are some key industrial chemicals and also act as raw materials for producing other chemical products. Olefin derivatives market includes acrylonitrile, ethylene oxide, propylene glycol, butanol, etc.
Olefin Derivatives Market Size
The global olefin derivatives market was valued at $78.5 billion in 2017. Asia-Pacific was the largest geographic region in the olefin derivatives market in 2017, accounting for $30.5 billion or 38.8% share in the market. The USA was the largest country in the market in 2017, accounting for $13.9 billion or 17.7% share in the market.
Olefin Derivatives Market Trend
The use of acetonitrile in pharmaceutical products is increasing rapidly. This is primarily driven by the introduction of advanced pharmaceutical products and improved standards of living in industrialized countries. Acetonitrile is used as a basic raw material for synthesizing vitamins A and B1, sulfa pyrimidine, cortisone, carbonate drugs, and some amino acids. Additionally, it is also used as an important solvent in the pharmaceutical industry, with applications as a reagent, reaction solvent and extraction solvent. For instance, acetonitrile is used as an extraction solvent in the production of insulin and antibiotics (third-generation cephalosporins). Although acetonitrile supply is currently limited due to restricted production during the second half of 2017 in China and the US, it is expected to gain momentum as new production capacities are planned in India and China.
Olefin Derivatives Market Segmentation
The olefin derivatives market is segmented into Vinyl, Ethylene Oxide And Ethylene Glycol, Oxo Alcohols, Propylene Oxide, and Acrylonitrile.
Vinyl market includes the manufacture and sale of various vinyl compounds. Vinyl compounds are derivatives of ethylene, where one hydrogen is chemically replaced by another functional group. Vinyl are mostly employed to produce plastics.
Ethylene Oxide and Ethylene Glycol market includes manufacture and sale of ethylene oxide ((CH2-CH2)O) and ethylene glycol (OHCH2-CH2OH). Ethylene oxide is produced by direct oxidation of ethylene. Ethylene glycol is produced by hydrolysis (reacting with water) of ethylene oxide.
Oxo Alcohols market comprises of establishments manufacturing and selling various oxo alcohols. Oxo alcohols are produced hydrogenation of aldehydes obtained by chemical addition of synthesis gas (carbon monoxide + hydrogen gas) with olefins.
Propylene Oxide market comprises of manufacturing and sale of propylene oxide. Propylene oxide is produced by oxidation of propylene using an organic peroxide or by a two-step hydrochlorination and dehydrochlorination process. Most of propylene oxide is used to produce polyether polyols which are precursors for polyurethane plastics.
Acrylonitrile market comprises of manufacturing and sale of acrylonitrile (CH2=CH-CN). Acrylonitrile is produced mainly by catalytic ammoxidation of propylene. Acrylonitrile is utilized mainly to produce the polymer polyacrylonitrile, and other key copolymers such as styrene-acrylonitrile (SAN) and acrylonitrile butadiene styrene (ABS).
The major players in the global olefin derivatives market are Mitsubishi Chemical Corporation, China National Petroleum Corporation, Repsol S.A., Ineos Holdings Luxembourg S.A., and China Petroleum & Chemical Corporation (Sinopec).
The countries covered in the global olefin derivatives market are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.