Global Polyalkylene Glycol (PAG) Base Oil Market is forecast to grow at 3.7% with factors such as significant demand for PAGs in the automotive industry and rising technological advancements and modernization in the production techniques.
Polyalkylene glycol (PAG) base oil market has shown an exceptional penetration in Asia-Pacific due to high demand from the automotive industry followed by North America and Europe. Increasing use of bio-degradable PAG oils can bring opportunities for the global polyalkylene glycol (PAG) base oil market to grow in the future. Presence of substitutes in the market is projected to challenge the global polyalkylene glycol (PAG) base oil market growth.
Global Polyalkylene Glycol (PAG) Base Oil Market Scenario
According to Data Bridge Market Research, Phillips 66 Company is the dominating player and accounts for an estimated market share of 21.27% in the global polyalkylene glycol (PAG) base oil market. The company has gained outstanding sale through innovative product development for various industries.
- In March 2021, Independent Truck Repair Group (iTRG) teamed up with Phillips 66 Lubricants to offer a national oil program for their members. Through this new program, iTRG members will access special pricing, promotional materials, rebates, and enhanced education and technical support on Phillips 66 Company premium diesel products. This will bring more customers to Phillips 66 Company.
- In March 2021, Phillips 66 Company launched Phillips 66 e-Shield, a high-performing lubricant solution to optimize electric vehicle performance and protection. E-Shield is a new line of products, including system fluid, grease, and coolant, designed to fulfill the unique needs of electric vehicles. This development will help to acquire a new customer base for the company.
Trends Impacting the Market
Now the question is which other regions Phillips 66 Company, TotalEnergies, and Exxon Mobil Corporation are targeting? Data Bridge Market Research has estimated a large growth in China polyalkylene glycol (PAG) base oil market and the market leaders are targeting India and Japan to be their next revenue pockets for 2022.
The global polyalkylene glycol (PAG) base oil market is becoming more competitive every year with companies such as TotalEnergies, Phillips 66 and Exxon Mobil Corporation as they are the market leaders for polyalkylene glycol (PAG) base oil. The data bridge market research new reports highlight the major growth factors and opportunities in the global polyalkylene glycol (PAG) base oil market.
For more analysis on the global polyalkylene glycol (PAG) base oil market request for a briefing with our analysts: https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-pag-base-oil-market
Global Polyalkylene Glycol (PAG) Base Oil Market Development
- In December 2021, Exxon Mobil Corporation acquired California-based Materia, Inc., a technology company that has pioneered the development of a Nobel prize-winning technology for manufacturing a new class of materials. The innovative materials can be used in several applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anti-corrosive coatings. This development helped the company cater to customers' demand for innovative products.
Scope of the Global Polyalkylene Glycol (PAG) Base Oil Market
Global polyalkylene glycol (PAG) base oil market is segmented on the basis of countries into the U.S., Canada, Mexico Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific, Germany, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, Luxemburg, and Rest of Europe, Brazil, Argentina, and Rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and Rest of Middle East and Africa.
Global Polyalkylene Glycol (PAG) base oil market segmented into three notable segments based on product, application, and end-use. On the basis of product, the global polyalkylene glycol (PAG) base oil market is segmented into conventional (water insoluble) and water-soluble. 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. 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.
All country-based analysis of polyalkylene glycol (PAG) base oil market is further analysed based on further segmentation. By product (conventional (water insoluble) and water-soluble), by application, (Hydraulic Oil, Gear Oil, Compressor Oil, Metal Working Fluids, Greases and others), by end-use( automotive, aerospace, marine, Tooling & Industrial Equipment, HVAC & refrigeration, and others)
To know more about the study https://www.databridgemarketresearch.com/reports/global-pag-base-oil-market
Key Pointers Covered in of Global Polyalkylene Glycol (PAG) Base Oil Industry Trends and Forecast to 2029
- Market Size
- Market Standards and Changes
- Market Trials in Different Regions
- Market Requirements in Different Regions
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Recent Market Value for Different regions
- Sales Data for Market Competitors
- Key Vendors and Disruptors Study
- Supply Chain Competiveness
Key Market Competitors Covered in the Report
- 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.
- Others
Above are the key players covered in the report, to know about more and exhaustive list of global polyalkylene glycol (PAG) base oil market, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-pag-base-oil-market
Research Methodology: Global Polyalkylene Glycol (PAG) Base Oil Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
- Demand Side: End Industries
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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