Dublin, June 15, 2023 (GLOBE NEWSWIRE) -- The "Polyalphaolefins: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Polyalphaolefins estimated at US$3.6 Billion in the year 2022, is projected to reach a revised size of US$4.4 Billion by 2030, growing at a CAGR of 2.4% over the analysis period 2022-2030.
Low Viscosity PAO, one of the segments analyzed in the report, is projected to record a 2.4% CAGR and reach US$3.4 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Medium Viscosity Pao segment is readjusted to a revised 2.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $837 Million, While China is Forecast to Grow at 3.3% CAGR
The Polyalphaolefins market in the U.S. is estimated at US$837 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$421.2 Million by the year 2030 trailing a CAGR of 3.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.2% respectively over the 2022-2030 period.
Within Europe, Germany is forecast to grow at approximately 2.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$367.2 Million by the year 2030.
Select Competitors (Total 28 Featured) -
- Chevron Phillips Chemical Company LLC
- Croda International Plc
- Exxon Mobil Corporation
- Fuchs Petrolub SE
- Ineos Group Ltd.
- LABDHI CHEMICALS
- LANXESS
- Lubricon Industries
- LUKOIL Marine Lubricants DMCC
- RB PRODUCTS, INC.
- Royal Dutch Shell plc
- Sasol Limited
- Shanghai NACO Lubrication Co., Ltd.
- TULSTAR PRODUCTS INC.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 313 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.6 Billion |
| Forecasted Market Value (USD) by 2030 | $4.4 Billion |
| Compound Annual Growth Rate | 2.5% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- COVID-19 Pandemic Impact on Polyalphaolefins Market
- Polyalphaolefins - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- An Introduction to Polyalphaolefins
- Global Market Prospects & Outlook
- Engine Oil: The Leading Application Market in the Global PAO Market
- Europe & North America: Leading Regional Markets for PAO
- Competition
- Global PAO Capacity (in Thousand Metric Tons Per Year) by Leading Players
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Demand for Synthetic Lubricants Boosts Market Prospects
- Global Synthetic Lubricants Market Breakdown of Revenue (in %) by Product for 2020
- Global Synthetic Lubricant Base Stock Consumption Breakdown by Region/Country (in %) for 2020
- COVID-19 Impact on Lubricants Industry and Effect on Lubricant Basestocks Market
- Auto Industry's Focus on Improving Fuel Efficiency & Reducing Emissions Spurs Demand for PAO
- World Automobile Production in Million Units: 2008-2022
- How the Automotive Industry was Impacted by the Pandemic & What's the New Normal?
- Car Production YoY % Growth in 2020 Across Major Regional Markets
- Rising Demand for Low Viscosity Fluids to Benefit PAOs Market
- PAO-Based Lubricants Find Favor in Industrial Applications
- Breakdown of World Industrial Lubricants Market Revenues (in %) by Application for 2021
- Manufacturing PMI: An Important Bellwether
- Global PMI Index Points for the Years 2018, 2019 & 2020
- Expanding Machine Tools Sector Spurs Demand Growth
- Global Machine Tools Market Breakdown of Demand (in %) by End-Use Industry for 2020
- Growing Use of Synthetic Fluids in Offshore Drilling Operations to Drive Demand for Polyalphaolefins
- Global Oil Production: Percentage Breakdown of Production by Onshore, Offshore, and Offshore Deep Water Activity for 2010 & 2019
- Increase in Offshore Drilling Activities to Boost Market Prospects
- Offshore Drilling Activity: Number of Offshore Wells Drilled during 2015-2020
- Imperative Shift towards EVs: Assessing Threats & Opportunities for PAO Market
- Global Electric Vehicles Market: Sales in Thousands for Plug-in Hybrids and Battery EVs for 2018-2020
- Amorphous Polyalphaolefin: High Growth Prospects
- APAO for Applications in the Hot Melt Market
- PAOs Market Faces Threat from the Emergence of Substitutes
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/7lxl2h
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