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In the year By 2032, FMI projects the polyalkylene glycol base market to cross US$594.6 billion in revenue, registering a high CAGR of 6.1%. By Future Market Insights, Inc. Get data analytics. Increasing demand for compressed oils in automotive is expected to boost the demand for PAG Base Oil.
Newark, Del., dec. 31, 2022 (GLOBE NEWSWIRE) — The global PAG base stock market is expected to reach USD 2.03 billion and is projected to grow at a CAGR of 8.5% during the forecast period. According to the forecast, the size of the stock industry according to PAG will reach USD 4.6 billion during the forecast period.
Considering the excellent properties and benefits of PAG base oil, it can be predicted that the demand for PAG base oil will increase in the coming years. As well as excellent water solubility and high viscosity index, PAG base oils are also known for their shell stability as well as high water solubility. Moreover, the low volatility of synthetic compounds at high temperatures and the resistance to the formation of accumulated or accumulated residues have allowed them to be used in various applications.
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The global economy is going to be heavily influenced by emerging economies. Due to its high water solubility, the PAG base oil market is expected to witness significant growth. Due to growth in auto and other industries, the polyalkylene glycol (PAG) base oil market is expected to grow in the future. In addition to increasing focus on sustainability and energy transition, the supply and demand of basic stocks is expected to further boost the market.
PAG oils will continue to lead the synthetic market as environmentally acceptable lubricants, due in part to the industry’s continued focus on environmentally friendly lubricants. In addition to textile fiber manufacturers, PAG oils have also been found useful in many other industries. During the refining process, these fats can be easily removed because they do not color or change the fiber. In addition to fiber processes that require shear stability at high speeds and temperatures, PAG oils are the lubricant of choice. In addition, high pressure gear lubricants are used in textile machinery.
The main ways of market research
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According to market forecasts, the global PAG base stock market is set to reach $4.6 billion by 2032.
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According to estimates, the automotive sector is expected to grow at a CAGR of 6.8% between 2023 and 2033.
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Based on the estimates, compressed oil is expected to account for 38.5% revenue share during the forecast period.
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PAG base inventory in North America is expected to grow at a CAGR of 6.2% during the forecast period
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Stock market earnings are expected to grow by 29 percent, according to Asia Pacific PAG.
“Recent emphasis on energy conservation has increased the demand for high-performance lubricants for automotive, textile and aerospace applications, which is expected to grow at a steady pace for PAG base stock products in the future.
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Competitive landscape
BASF SE, The Dow Chemical Company, Clariant AG, Idemitsu Kosan Co., Ltd., PCC Group, Fuchs Group, Croda International Plc, Exxon Mobil Corporation, Technical Lubricants International BV and Shandong Shing Chemical Company.
Through strategic partnerships, manufacturers can increase production and meet consumer demand, increasing revenue and market share. Using new technologies and products to produce products that are useful to the end user. Expanding production capacity can be facilitated through strategic partnerships.
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LIQUI MOLY GmbH, a German lubricant manufacturer, recently announced that it has an annual production capacity of more than 100,000 tons. This year there was an increase in both oil and aftermarket additive production at LIQUI MOLY. In the first quarter of the year, 16.3 million cans of fuel additives, oil additives and coolant additives were produced – a 14 percent increase over the previous year.
There are more important insights.
FMI, in its new offering, presents an unbiased analysis of the PAG base stock market, featuring historical demand data (2018-2022) and forecast statistics for the period 2023-2033.
The study provides important insights into the PAG Base market analysis report by Type (Water Soluble, Water Insoluble, Mineral Oil Soluble, Random Copolymer, Block Copolymer) Application (Gear Oils, Fire Fighting Hydraulic Fluids, Food Grade Greases, Compressor Oils, Wind). . Turbine Lubricants, Metalworking & Quenching Fluids, Other Applications), By End Use (Automotive, Aerospace, Marine, Industrial Equipment, HVAC & Refrigeration, Others), By Region – Global Forecast 2022-2032.
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Table of contents
1. Executive summary
1.1. Global market outlook
1.2. Demand-side trends
1.3. Supply-side trends
1.4. Technology road map analysis
1.5. Analysis and recommendations
2. Market overview
2.1. Market Coverage / Taxonomy
2.2. Market definition / scope / limitations
3. Market background
3.1. Market volatility
3.1.1. Drivers
3.1.2. Restrictions
3.1.3. Chance
3.1.4. Trends
FMIS domain knowledge in chemicals and materials
Our Chemicals & Materials Advisory Group guides organizations at every stage of their business strategy, helping them understand how the latest influencers in the PAG base stock sector are handling operational and strategic change. Our ability to identify challenges and trends impacting the global PAG base stock industry provides essential insights and support – revealing a strategic view that helps you identify critical issues.
Complete the TOC with Report Preview: https://www.futuremarketinsights.com/reports/pag-base-stock-market
By Future Market Insights, Inc. See related studies in Published Chemicals and Materials.
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Future Market Insights, Inc.
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