North America Polyalkylene Glycol (PAG) Base Oil Market – Industry Trends and Forecast to 2029

Market Analysis and Insights: North America 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 analyses that the market is growing at a CAGR of 3.5% in the forecast period of 2022 to 2029 and expected to reach USD 1,910,851.78 thousand by 2029. Growing use in food grade products have propelled the growth of the polyalkylene glycol (PAG) base oils market.

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.

Rising technological advancements and modernization in the production techniques has propelled the growth of the polyalkylene glycol (PAG) base oils market. Growing use in food grade products 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, growing research and development activities 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 localised 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.

North America Polyalkylene Glycol (PAG) Base oil Market Scope and Market Size

North America polyalkylene glycol (PAG) base oil market is segmented on the basis of product, application and end-use. The growth among segments helps you analyse 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 sealing properties and protects bearing surfaces from corrosion, which helps to boost its demand in the forecast year.
• On the basis of application, the 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 compressor oil acts to seal the gaps between the screw elements, helping with the compression process, which helps to boost its demand in the forecast year.
• 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 improve the life span, efficiency and reliability of machinery, which helps to boost its demand in the forecast year.

Polyalkylene Glycol (PAG) Base Oil Market Country Level Analysis

North America polyalkylene glycol (PAG) base oil market is analysed and market size information is provided by country, product, application and end-use as referenced above.

The countries covered in North America polyalkylene glycol (PAG) base oil market report are U.S., Canada, and Mexico. North America is dominating the market due to considerable increase in construction activities and infrastructural development across the globe, which boosts demand of polyalkylene glycol (PAG) base oil in the region.

Global Polyalkylene Glycol (PAG) Base Oil Market

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.

Considerable Increase in Construction Activities and Infrastructural Development Across the Globe

North America 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

North America 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 breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America polyalkylene glycol (PAG) base oil market.

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, Ultrachem Inc and Idemitsu Kosan Co., Ltd., among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

For instance,

• In January 2021, BASF SE signed a joint development agreement with China BlueChemical Limited Company (China BlueChemical). The core of this partnership is to reduce carbon footprint via improved process efficiency and carbon efficiency is. This development will help BASF SE to attract a more customer base.

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