Middle East & Africa Polyalkylene Glycol (PAG) Base Oil Market, By Product (Conventional Water Insoluble and Water-Soluble), Application (Hydraulic Oil, Gear Oil, Compressor Oil, Metal Working Fluids, Greases, and Others), End-Use (Automotive, Aerospace, Marine, Tooling & Industrial Equipment, HVAC & Refrigeration, and Others), Country (United Arab Emirates, Saudi Arabia, South Africa, Israel, Egypt and Rest of Middle East & Africa), Market Trends and Forecast to 2029.
Market Analysis and Insights: Middle East and Africa Polyalkylene Glycol (PAG) Base Oil Market
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 2.7% in the forecast period of 2022 to 2029 and expected to reach USD 576,205.62 thousand by 2029.
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.
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. 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.
Significant demand for polyalkylene glycol base oils in the automotive industry has propelled the growth of the polyalkylene glycol (PAG) base oils market. 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. On the other hand, increasing use of bio-degradable PAG oils can bring opportunities for the global polyalkylene glycol (PAG) base oil market. However, presence of substitutes in the market is projected to challenge the market growth in the near future.
This polyalkylene glycol (PAG) base oil market report provides details of market share, new developments, and product pipeline analysis, 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.
Middle East & Africa Polyalkylene Glycol (PAG) Base Oil Market Scope and Market Size
Middle East & Africa polyalkylene glycol (PAG) base oil market is segmented on the basis of 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 market is segmented into conventional (water insoluble) and water soluble. In 2022, the conventional (water insoluble) segment is expected to dominate the market as they have a very high viscosity index and good varying temperature abilities.
- On the basis of application, the market is segmented into hydraulic oil, gear oil, compressor oil, metal working fluids, greases and others. In 2022, compressor oil is expected to dominate the market as compressor oil lubricates the rotors and seals the compression chamber.
- On the basis of end-use, the 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 to reduce the downtime and costs associated with maintenance and repair.
Polyalkylene Glycol (PAG) Base Oil Market Country Level Analysis
Middle East & Africa market is analysed and market size information is provided by country, product, application, and end-use as referenced above.
The countries covered in Middle East & Africa polyalkylene glycol (PAG) base oil market report are United Arab Emirates, Saudi Arabia, South Africa, Israel, Egypt and Rest of Middle East & Africa.
Middle East & Africa is dominating the market due to growing use in food grade products, which boosts demand of polyalkylene glycol (PAG) base oil in the region.
Global Polyalkylene Glycol (PAG) Base Oil Market, By Region
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Use in Food Grade Products
Middle East & Africa polyalkylene glycol (PAG) base oil market also provides you with detailed market analysis for every country growth in installed base of different kind of products for polyalkylene glycol (PAG) base oil market, impact of technology using life line curves and changes in production techniques, regulatory scenarios and their impact on the polyalkylene glycol (PAG) base oil market. The data is available for historic period 2012 to 2020.
Competitive Landscape and Polyalkylene glycol (PAG) base oil Market Share Analysis
Middle East & Africa polyalkylene glycol (PAG) base oil market competitive landscape provides details by 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, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the Middle East & Africa polyalkylene glycol (PAG) base oil market.
Some of the major players covered in the report 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, Petronas Lubricants International, LIQUI MOLY GmbH, Morris Lubricants, Ultrachem Inc, among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In October 2021, Chevron Corporation announced the acquisition of NEXBASE brand from Neste Oyj. This acquisition will attract more customers according to growing needs to meet increasingly stringent lubricant standards driven by evolving vehicle specifications and maintain the technology leading positions of base oil investments.
Customization Available: Middle East and Africa Polyalkylene Glycol (PAG) Base Oil Market
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