Description
Although polyalkylene glycol (PAG) base oils have long been used as industrial lubricants, recent work has led to the development of polyalkylene glycol (PAG) lubricants for use in equipment in the food processing industry. These products are known as food-grade approved lubricants.Global polyalkylene glycol (PAG) base oil market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing at a CAGR of 3.7% in the forecast period of 2022 to 2029 and is expected to reach USD 7,870,702.96 thousand by 2029. Polyalkylene Glycol (PAG) base oils are classified by their weight percent composition of oxypropylene versus oxyethylene units in the polymer chain. Polyalkylene glycol (PAG) base oils with 100 weight percent oxypropylene groups are water insoluble; whereas those with 50 to 75 weight percent oxyethylene are water soluble at ambient temperatures.
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Polyalkylene Glycol (PAG) Base Oil Market Analysis and Size
The considerable increase in construction activities and infrastructural development across the globe is expected to further boost the market growth. The major restraint which is impacting the global polyalkylene glycol (PAG) base oil market negatively is volatility in the crude oil prices. PAG oil or polyalkylene glycol is completely synthetic hygroscopic oil intended specifically for air conditioning compressors in automobiles. It is widely used as compressor oil. In addition, it is used in applications such as worn gear lubricant, anhydrous fire resistant hydraulic fluid, metal working fluid, and others. These PAG oils have high viscosity index, good water solubility, shear stability, and less volatility under high temperatures. PAG base oils are also used as textile lubricants and quenchants in metal heat treating. Significant demand for polyalkylene glycol base oils in the automotive industry has propelled the growth of the polyalkylene glycol (PAG) base oils market.
Polyalkylene Glycol (PAG) Base Oil Market Definition
This global polyalkylene glycol (PAG) base oil market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
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Polyalkylene Glycol (PAG) Base Oil Market Scope
The global polyalkylene glycol (PAG) base oil market is segmented into three notable segments, based on product, application and end-use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the global polyalkylene glycol (PAG) base oil market is segmented into conventional (water insoluble) and water-soluble. In 2022, the conventional (water soluble) segment is expected to dominate the market as they have a very high viscosity index and well low and high-temperature abilities, which helps to boost its demand in the forecast year.
- On the basis of application, the global polyalkylene glycol (PAG) base oil market is segmented into hydraulic oil, gear oil, compressor oil, metal working fluids, greases, and others. In 2022, the compressor oil segment is expected to dominate the market as it reduces the wear and tears on rotating parts and prevents metal from rubbing against metal, which helps to boost its demand in the forecast year.
- On the basis of end-use, the global polyalkylene glycol (PAG) base oil market is segmented into automotive, aerospace, marine, tooling & industrial equipment, HVAC & refrigeration, and others. In 2022, the automotive segment is expected to dominate the market as PAG oil helps control friction and wear in the automotive engine, which helps to boost its demand in the forecast year.
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Major TOC of the South East Asia Molecular Point of Care Testing (Using NAAT) Market Report
Chapter One:
MARKET SEGEMENTATION
EXECUTIVE SUMMARY
PREMIUM INSIGHTS
MARKET OVERVIEW
Polyalkylene Glycol (PAG) Base Oil Market Regional Analysis/Insights
China is expected to dominate the global polyalkylene glycol (PAG) base oil market due to high demand from the automotive industry. The U.S. is expected to dominate the global polyalkylene glycol (PAG) base oil market due to adoption of PAG base oil by the numerous end-users and increase in the construction activities in the residential sector in this region. Germany is expected to dominate the global polyalkylene glycol (PAG) base oil market due to increasing technological advancements and modernization in the production techniques of PAG base oil in the region.
Some of the countries covered in the Polyalkylene Glycol (PAG) Base Oil market report are
· U.S., Canada, Mexico,
· Germany, France,
· U.K., Netherlands, Switzerland,
· Belgium, Russia, Italy,
· Spain, Turkey, Rest of Europe,
· China, Japan, India, South Korea,
· Singapore, Malaysia, Australia,
· Thailand, Indonesia, Philippines,
· Rest of Asia-Pacific, Saudi Arabia,
· U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa.
Competitive Landscape and Polyalkylene Glycol (PAG) Base Oil Market Share Analysis
Global polyalkylene glycol (PAG) base oil market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to the global polyalkylene glycol (PAG) base oil market.
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Some of the Major Players Operating in the Polyalkylene Glycol (PAG) Base Oil Market are:
· Phillips 66 Company,
· Exxon Mobil Corporation,
· Total Energies,
· Royal Dutch Shell plc,
· Denso Corporation,
· BASF SE,
· ENI Oil Products,
· Chevron Corporation,
· FUCHS,
· Croda International Plc,
· HANNONG Chemicals Inc.,
· Petronas Lubricants International,
· Hornett Bros & Co Ltd.,
· LIQUI MOLY GmbH,
· Morris Lubricants,
· Ultrachem Inc,
· Idemitsu Kosan Co., Ltd. Topcon
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