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Global Poly Alpha Olefin (PAO) Markets, 2022-2027 - Growing Demand for Bio-Based Polyalphaolefins & Growing Demand from Electric Vehicles

·3-min read
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Dublin, April 25, 2022 (GLOBE NEWSWIRE) -- The "Poly Alpha Olefin (PAO) Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global poly alpha olefin market is expected to grow at a CAGR of 4% during 2022-2027

This report considers the present scenario of the poly alpha olefin market and its market dynamics for 2022-2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyses leading companies and several other prominent companies operating in the market.

Low viscosity PAOs accounted for the largest market share in the global polyalphaolefin market by type. This segment holds a 51.90% share and is expected to grow at a CAGR of 4.4% between 2021 and 2027.

Europe dominated the global polyalphaolefin market with a share of around 42.71% in terms of revenue in 2021. The region is expected to witness a significant CAGR of 4.32% by revenue.

The prime factor supporting the growth of the European region is the well-established automotive industry that consumes a major chunk of polyalphaolefins.

In APAC, China represents a lucrative growth opportunity owing to the booming automotive industry and strong presence of manufacturing facilities. In addition, low cost of production and availability of raw material at a cheaper cost attracts global players to set up their manufacturing base in China.

Key Highlights

  • The major factor driving the growth of the market is the increasing demand for better performance engine oils that result in lower CO2 emissions and higher-performing lubricants for industrial equipment.

  • However, being a synthetic base oil, it faces a major threat from bio-based lubricants, which are experiencing rapid growth.

  • Europe dominated the global polyalphaolefin market with a share of around 42.71% in terms of revenue in 2021. The region is expected to witness a significant CAGR of 4.32% by revenue.

Key Vendors

  • British Petroleum

  • Exxon Mobil Corporation

  • Ineos

  • Shell

Other Prominent Vendors

  • Addinol

  • Croda International

  • Chemtura

  • ENI

  • Fuchs

  • Idemitsu Kosan

  • Liqui Moly

  • Lukoil

  • Lubricon

  • Labdhi Chemicals

  • Mitsui Chemicals

  • Naco Synthetics

  • Novvi

  • PetroCanada

  • Penrite Oil

  • Peak Lubricants

  • Shanghai FOX Chemical Technology

  • Sasol

  • Tulstar Products

  • Valero

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Manufacturing Process
7.3 Value Chain Analysis
7.4 Impact of Covid-19

8 Market Opportunities & Trends
8.1 Increasing Demand from Automotive Sector
8.2 Demand for Vehicles With Higher Fuel Economy

9 Market Growth Enablers
9.1 Growing Demand for Bio-Based Polyalphaolefins
9.2 Growing Demand from Electric Vehicles

10 Market Restraints
10.1 Volatility in Raw Material Prices
10.2 Increasing Competition from Bio-Based Pao Products

11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.2.1 Value & Volume
11.3 Five Forces Analysis

12 Polyalphaolefin Type
12.1 Market Snapshot & Growth Engine (Value)
12.2 Market Snapshot & Growth Engine (Volume)
12.3 Market Overview
12.4 High Viscosity
12.5 Medium Viscosity
12.6 Low Viscosity

13 End Use
13.1 Market Snapshot & Growth Engine (Value)
13.2 Market Snapshot & Growth Engine (Volume)
13.3 Market Overview
13.4 Automotive
13.5 Industrial
13.6 Others

14 Geography
14.1 Market Snapshot & Growth Engine (Value)
14.2 Market Snapshot & Growth Engine (Volume)
14.3 Geographic Overview

For more information about this report visit https://www.researchandmarkets.com/r/pk50c1

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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