Olefins are hydrocarbons that include at least one double bond between two atoms that are nearby. Higher olefin compounds are mostly employed as precursors to other chemicals such polymers, fatty acids, plasticizer alcohols, surfactants, lubricants, amine oxides, and detergent alcohols. Detergents, lubricants, hydraulic fluids, drilling fluids, and waxes are just a few applications for products created with higher olefins.

The Global Higher Olefins Market was valued at US$ 7.6 Bn in 2020. Expanding at a CAGR of 5.1% between 2022 and 2030, the market’s opportunity is expected to reach US$ 12.5 Bn by the end of 2030. The growing need for synthetic lubricants is likely to create lucrative opportunities for market players over the next few years.