Global Poly Alpha Olefin (PAO) Market by Application (Gear Oil, Engine Oil, Compressor Oil, Grease) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

"Growth in synthetic lubricants to support industry growth"

In 2015, the global market for poly alpha oil (PAO), was worth more than USD 1.0 Billion. The industry's growth is expected to be driven by the increasing demand for synthetic lubricants due to lower engine wear.

Poly alpha olefin has many benefits, including improved thermal and antioxidant stability, hydrolytic stability and demulsibility. These properties make PAO an excellent choice for extreme temperatures such as high operating temperatures and low startup temperatures.

Due to strict regulations and environmental protection mandates, the demand for synthetic fluids will rise.

U.S. polyalpha olefin market revenue by application, 2014-2025 (USD Million).

The market's key driver will be the growing demand for synthetic lubricants from different end-use industries, including automotive and oil and gas. PAOs are used primarily as metal working fluids and compressor oils, engine oils and heat transfer fluids. They also serve to reduce component failure and increase drain intervals.

Automotive lubricant formulations are gaining popularity due to the increasing demand for fuel efficiency and lower emissions.

Industry participants will continue to face volatility in the prices of essential raw material. Increasing oil production in OPEC and Russia will ensure that alpha olefin production is not disrupted by fluctuations in raw materials prices.

Poly alpha olefin manufacturing is possible using different technologies and processes. These technologies were patented by key market players. Numerous market players have patented these technologies.

"Engine oil was 2015's most popular application segment"

PAO was highly popular in the engine oil segment. It accounted for more than 65% of all the market in 2015. This is due to its ability to lubricate at both extremes of the temperature spectrum. PAO flows faster at cold temperatures and resists oil consumption, viscosity break down, sludging, and oxidation at higher temperatures.

The forecast period will see high growth in gear oil due to its higher hydrolytic stability and demulsibility, higher viscosity index, lower pour point, and higher hydrolytic stability & desulsibility. Synthetic gear oil can be used to meet special requirements like extremely low temperatures or high temperatures, high loads and unusual ambient conditions.

Because of their outstanding performance and temperature properties, synthetic greases containing PAO are frequently used in outdoor equipment. They can also be modified to resist excessive moisture.

"Europe was followed closely by North America as the largest regional market"

In 2015, North America's poly alpha olefin industry accounted for more than 30% of global revenue. The U.S. Shale gas boom has brought new hope to petrochemical producers. It has also boosted the production of ethylene in the region, which is a key raw material in PAO production.

Globally, biodegradable hydraulic fluids have become more important. The Blue Angel Scheme (which supports biodegradable base oils) and The White Swan Scheme (which regulates biodegradable oils in Europe) are two of the main regulations that will drive regional industry. Due to growing demand for automotive lubricants in Asia Pacific, the region is expected to experience the fastest growth during the forecast period.

"Integration of own patented technology to increase industry competitiveness"

ExxonMobil Corp. and Chevron Phillips Chemical Company LP have their own patented technology to produce PAOs, which has driven the market worldwide, particularly in North America.

Major industry players have demonstrated a high degree of integration in the industry. Shell Chemicals and Q-Chem. are the primary key players. They have integrated their operations throughout the value chain, from production and delivery of raw materials to final-use products.

This level of integration allows these companies to reduce raw material procurement costs as well as strengthen their presence in various end-use sectors. The technology used to manufacture poly alpha olefin is patented by key market players and can be found at every level of this value chain.

Market Report Scope for Poly Alpha Olefin - Poly Alpha Olefin (PAO).

These are the most frequently asked questions about this report

b. The market for poly alpha olefins worldwide was valued at USD 1.22 Billion in 2019, and is forecast to grow to USD 1.27 Billion by 2020.

b. The global market for poly alpha olefins is expected to grow at 4.3% compound annual growth rate from 2016 to 2025, to reach USD 1.58 Billion by 2025.

b. With a 42.8% share in 2019, Europe was the dominant market for poly alpha olefins. This can be attributed to the implementation of regulations such as The Blue Angel Scheme or The White Swan Scheme that support biodegradable bases oils in Europe.

b. ExxonMobil Corp. and Chevron Phillips Chemical Company LP are key players in the poly alpha olefin industry.

b. The market is growing due to the increasing demand for synthetic lubricants, which reduce engine wear and tear.

Up Market Research published a new report titled “Poly Alpha Olefin (PAO) Market research report which is segmented by Application (Gear Oil, Engine Oil, Compressor Oil, Grease), By Players/Companies ExxonMobil Corp, Chevron Phillips Chemical Company LP, INEOS Oligomers”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Poly Alpha Olefin (PAO) Market Report Segments:

The market is segmented by Application (Gear Oil, Engine Oil, Compressor Oil, Grease).

Poly Alpha Olefin (PAO) Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Poly Alpha Olefin (PAO) Market

Overview of the regional outlook of the Poly Alpha Olefin (PAO) Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Poly Alpha Olefin (PAO) Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Poly Alpha Olefin (PAO) Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Gear Oil

                2. Engine Oil

                3. Compressor Oil

                4. Grease

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Poly Alpha Olefin (PAO) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Poly Alpha Olefin (PAO) Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.