Global PAG Base Oil Market Professional Survey Report 2019

PAG Base Oil Market – 2019-2025

Market Overview

 

PAG oil, or Polyalkylene Glycol, is a fully synthetic hygroscopic oil specifically designed for automotive air conditioner compressors
PAG oil is mainly used as compressor oil.

The base oil market is expected to witness a CAGR of around 2% during the forecast period of 2019-2025. The major factors driving the growth of the market studied are the growing demand from the automotive industry and rapid industrialization in developing nations. On the flipside, automobile manufacturers focusing on engine downsizing and extended oil change intervals are likely to hamper the growth of the market studied.

GroupI segment dominated the market in 2018, but it is likely to decline during the forecast period, owing to its replacement by Group II and Group III base oil.

The expanding production capabilities in developing countries are likely to provide opportunities for the market studied during the forecast period.

Asia-Pacific dominated the market across the world, due to the growing automotive production and sales, and growing industrial sector due to increasing investments from multi-national companies in the region. This has been further driving the demand for base oil.

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The following manufacturers are covered:
Idemitsu Kosan Co., Ltd
Dow
Exxon Mobil Corporation
Petronas Lubricants International

PAG Base Oil-Global Market Status and Trend Report 2019-2025 offers a comprehensive analysis on PAG Base Oil industry, standing on the readers’ perspective, delivering detailed market data and penetrating insights. No matter the client is industry insider, potential entrant or investor, the report will provide useful data and information.

This report provides comprehensive analysis of
Key market segments and sub-segments
Evolving market trends and dynamics
Changing supply and demand scenarios
Quantifying market opportunities through market sizing and market forecasting
Tracking current trends/opportunities/challenges
Competitive insights
Opportunity mapping in terms of technological breakthroughs

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Key Market Trends

Engine Oil Segment to Dominate the Market Demand

• Engine oil segment dominates the demand for base oil, dueto the growing demand for engine oil from industries, such as automotive, power, heavy equipment, metalworking, chemicals, and others.
• Engine oils are widely used to lubricate internal combustion engines and are composed of 75-90% base oils and 10-25% additives.
• They are typically used for applications, such as wear reduction, corrosion protection, and smooth operation of the engine internals. They function by creating a thin film between the moving parts, for enhancing heat transfer and reducing tension during the contact of parts.
• Automotive industry stands to be the largest consumer of engine oil. Currently, high-mileage engine oils are in demand in the automotive industry, owing to the properties that help in oil leak prevention and reduction in oil-burn offs.
• Most light and heavy vehicle diesel and gasoline engines use 10W40 and 15W40 viscosity grade oils, globally.
• Thus, with an increase in automotive production, the demand for engine oil is expected to increase significantly in the coming years, which is further expected to drive the growth of the base oil market.

Asia-Pacific Region to Dominate the Market

• The Asia-Pacific region dominated the global market share in 2018. The robust growth in automotive production, growing industrial sector due to rising investments in the region by multinational companies, and high demand for gear oil, grease, etc., from industries, such as heavy equipment, power, and metalworking, are some of the key drivers for the base oil market in the region.
• China, the world’s largest automotive producer, is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country plansto increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025.
• India is witnessing investments in the automotive industry, which is further expected to increase production in the country. For instance, in 2018, Hyundai planned an investment of USD 1 billion in India by 2020. Similarly, SAIC Motor also announced an investmentof USD 500 million in India by 2020.
• Besides, countries such as Indonesia, Malaysia, and Thailand have also been witnessing strong growth in the production of vehicles in the region. Hence, all such trends in the automotive industry in the region is expected to add to the demand for base oil in the region during the forecast period.
• In addition, growing investments in the construction sector are anticipated to boost the demand for lubricants used in construction activities and in heavy equipment.
• Countries, such as India, China, Philippines, Vietnam, and Indonesia, have been witnessing strong growth in the construction industry. Investments inresidential and commercial construction in thesecountries have been increasing at a robust rate. This is further expected to increase the demand for base oil in construction application in the coming years.
• Hence, all the favorable market trends are expected to drive the demand for engine oil, greases, gear oil, etc., which arefurther projected to drive the growth of the base oil market in the region, during the forecast period.

Competitive Landscape

The base oil market is a highly fragmented market, where numerous players hold insignificant share to affect the market dynamics individually. Some of the noticeable players in the market include Exxon Mobil Corporation, Royal Dutch Shell plc, China Petrochemical Corporation, Evonik Industries AG and Chevron Corporation, among others.

Customization of the Report

• Value chain analysis
• Consumer behavior analysis at country level

The report includes six parts, dealing with:
1.) basic information;
2.) the Asia PAG Base Oil Speaker Market;
3.) the North American PAG Base Oil Speaker Market;
4.) the European PAG Base Oil Speaker Market;
5.) market entry and investment feasibility;
6.) the report conclusion.

 

Table of Content:

1 Study Coverage

2 Executive Summary

3 Breakdown Data by Manufacturers

4 Breakdown Data by Type

5 Breakdown Data by Application

…

11 Company Profiles

12 Future Forecast

13 Market Opportunities, Challenges, Risks and Influences Factors Analysis

14 Value Chain and Sales Channels Analysis

15 Research Findings and Conclusion

16 Appendix

 

The key insights of The report Research:

1.The report Research provides key statistics on the market status of the PAG Base Oil manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report Research provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report Research presents the company profile, product specifications, capacity, production value, and 2019-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report Research estimates 2019-2025 market development trends of PAG Base Oil industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report Research makes some important proposals for a new project of PAG Base Oil Industry before evaluating its feasibility.

 

Reasons to Purchase this Report:

* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.

 

Continued …

NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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