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Rising textile activity and automotive production will drive sales of the basic polyalkylene glycol (PAG) stock market with a CAGR of over 8% from 2023 to 2033

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Future Market Insights Global and Consulting Pvt.  ltd.

Future Market Insights Global and Consulting Pvt. ltd.

By 2032, the IMF Forecasts the Polyalkylene Glycol Stock Market to Generate US$594.6 Billion in Revenue, with a High CAGR of 6.1% | Get Data Analysis by Future Market Insights, Inc. Rising Demand for Automotive Compressed Oils Expected to Increase Demand for PAG Base Oil

NEWARK, Del, 31 Dec. 2022 (GLOBE NEWSWIRE) — The global core PAG stock market is expected to reach US$2.03 billion and is expected to grow at a CAGR of 8.5% over the forecast period. According to the forecast, the PAG Core Inventory industry size will reach US$ 4.6 billion during the forecast period.

Considering the excellent properties of PAG base oil as well as the benefits it provides, it can be expected that the demand for PAG base oil will improve in the coming years. Besides their excellent water solubility and high viscosity index, PAG base oils are also known for their shear stability as well as their high water solubility. Additionally, the low volatility of synthetic compounds under elevated temperatures as well as their resistance to the formation of deposits or residues have also enabled their use in a variety of applications.

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The global economy is expected to be heavily impacted by emerging economies. Due to its high water dissolving ability, the PAG base oil market is expected to witness significant growth. Due to the growth of automotive and other industries, the polyalkylene glycol (PAG) base oil market is expected to flourish in the future. In addition to the growing focus on sustainability and energy transition, there will inevitably be unavoidable effects on the supply and demand for base stocks that are expected to further grow the market.

PAG oils will continue to advance the synthetic market as environmentally acceptable lubricants, in part due to the industry’s continued focus on environmentally friendly lubricants. In addition to textile fiber producers, PAG oils have also proven beneficial in a number of other industries. During the scrubbing process, these lubricants can be easily removed, as they do not stain or discolor the fibers. In addition to fiber manufacturing processes requiring shear stability at high speeds and temperatures, PAG oils are the lubricant of choice. Additionally, extreme pressure gear lubricants are used on textile machinery.

Key insights from market research

  • According to market forecasts, the global PAG core stock market is expected to reach US$4.6 billion by 2032.

  • The automotive sector is projected to grow at a CAGR of 6.8% between 2023 and 2033.

  • Compressed oil is estimated to possess a revenue share of 38.5% over the forecast period.

  • PAG base stock in North America is expected to grow at a CAGR of 6.2% over the forecast period

  • PAG Asia-Pacific core stock market revenue is expected to grow by 29% over the forecast period.

The recent focus on energy conservation has increased interest in high performance lubricants for automotive, textile and aerospace applications, which are expected to grow at a healthy pace for the foreseeable future for PAG Core Products,” comments an IMF analyst.

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Competitive landscape

BASF SE, The Dow Chemical Company, Clariant AG, Idemitsu Kosan Co., Ltd., PCC Group, Fuchs Group, Croda International Plc, Exxon Mobil Corporation, Technical Lubricants International BV and Shandong Shing Chemical Co., Ltd.

By partnering strategically, manufacturers are able to increase production and meet consumer demands, increasing revenue and market share. To manufacture products that benefit the end user using new technologies and products. The expansion of production capacities can be facilitated by strategic partnerships.

  • LIQUI MOLY GmbH, a German lubricant manufacturer, recently announced that its annual production has exceeded 100,000 tonnes. This is an increase in the production of aftermarket oil and additives at LIQUI MOLY this year. Fuel additives, oil additives and coolant additives were produced in 16.3 million canisters in the first quarter of the year, up 14% from last year.

More valuable information available

IMF, in its new offering, presents an unbiased analysis of the basic PAG stock market, presenting historical demand data (2018-2022) and forecast statistics for the period 2023-2033.

The study discloses essential information about PAG Core Stock Market Analysis Report by Type (Water Soluble, Water Insoluble, Mineral Oil Soluble, Random Copolymer, Block Copolymer) Application ( gear oils, fire resistant hydraulic fluids, food grade lubricants, compressor oils, wind turbine lubrication, metalworking and quenching fluids, other applications), by end use (automotive, aerospace, marine, industrial equipment, HVAC and refrigeration, others), by region – Global forecast 2022-2032.

Application Methodology @ https://www.futuremarketinsights.com/request-report-methodology/rep-gb-16019

Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis of the technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Market Context

3.1. Market dynamics

3.1.1. Drivers

3.1.2. Constraints

3.1.3. Opportunity

3.1.4. Tendencies

Knowledge of the field of IMFs in chemicals and materials

Our team of chemicals and materials consultants guide organizations through every step of their business strategy by helping you understand how the latest influencers are explaining operational and strategic transformation in the PAG core inventory industry. Our expertise in recognizing challenges and trends impacting the global PAG Core Inventory industry provides much-needed information and support – encompassing a strategic perspective that helps you identify critical issues and design appropriate solutions.

Complete TOC with report overview: https://www.futuremarketinsights.com/reports/pag-base-stock-market

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About Future Market Insights, Inc.

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