Global Poly Alpha Olefin (PAO) Market – Insights and Trends

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Global Poly Alpha Olefin (PAO) Market Introduction:

Poly alpha olefin is a 100% synthetic chemical compound derived by polymerizing an alpha-olefin. It is a type of organic olefin which is used in the production of some synthetic lubricants as a base stock. Poly alpha olefin (PAO) market is expected to expand at a significant growth rate, owing to increasing demand for automotive across the globe.

Global Poly Alpha Olefin (PAO) Market Dynamics:

The growth of the global poly alpha olefin (PAO) market is driven by growing automotive industry and increasing offshore drilling activities. Macroeconomic factors including growing economy, population and employment, rising disposable income, and rapid rate of urbanization as well as industrialization also driving the global poly alpha olefin (PAO) market. Advantages of poly alpha olefin including good load carrying capacity, high thermal stability, and wear & tear protection are expected to propel the global poly alpha olefin (PAO) market over the forecast period.

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The increase in a number of automotive results in rising concerns for greenhouse gas emissions which is one of the restraining factor of the global poly alpha olefin (PAO) market. Integration of value chain, increasing automation, the rapid rate of technological advancements and increasing investment in the automotive industry are some of the factors trending the global poly alpha olefin (PAO) market over the forecast period. The poly alpha olefin (PAO) market is expected to have a significant opportunity in developing economies such as GCC countries, most countries in Asia Pacific, Brazil, etc., attributed to the shift from conventional mineral oils towards high-grade lubricants.

Global Poly Alpha Olefin (PAO) Market Segmentation:

The global poly alpha olefin (PAO) market is segmented by end-use, application, and region. By end-use, the global poly alpha olefin (PAO) market segmented into the Industrial and Automobile. Among these, the automobile segment is growing at a substantial value CAGR in global poly alpha olefin (PAO) market whereas industrial segment accounts for relatively high revenue share the forecast period. On the basis of application, the global poly alpha olefin (PAO) market segmented into grease, compressor oil, engine oil, gear oil, and others. Among these, the engine oil segment account for relatively high revenue share in global poly alpha olefin (PAO) market followed by gear oil segment over the forecast period.

Global Poly Alpha Olefin (PAO) Market Regional Outlook:

On the basis of geographies, the global poly alpha olefin (PAO) market is segmented into seven regions — North America, Western Europe, Eastern Europe, Japan, Asia-Pacific except Japan, Latin America, and the Middle East & Africa. Among the regions, Western Europe accounts for a relatively high share of the global poly alpha olefin (PAO) market in terms of value, attributed to relatively high revenue share in the global automotive market. North America is followed by Western Europe in global poly alpha olefin (PAO) market, owing to high demand for passenger cars across the region. Eastern Europe and Japan also accounts for significant value share in the global poly alpha olefin (PAO) market, owing to high technological advancement across the regions. The Asia-Pacific is expected to register relatively high growth rate in the global poly alpha olefin (PAO) market over the forecast period, owing to the rapid rate of advancement in automotive industry across the region. Latin America and Middle East Africa is expected to have relatively high opportunity for poly alpha olefin (PAO) market players, attributed to growing economy and industrialization. Overall, the outlook for the global poly alpha olefin (PAO) market will have a positive growth over the forecast period.

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Global Poly Alpha Olefin (PAO) Market Player:

Few players in the global poly alpha olefin (PAO) market include Shell Chemical Ltd., Mitsui Chemicals, Inc., Idemitsu Kosan Co., Ltd., Lubricon Industries, Shanghai Fox Chemical Technology Co., Ltd., NACO Corporation, Chemtura Corporation, INEOS Oligomers, Tulstar Products, Inc, ExxonMobil, and Chevron Phillips Chemical Company LLC.

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