PAG Compressor Oil Market Size, Share, Demand & Trends by 2033

-

The global PAG compressor oil market is currently valued at US$1.4Billion in 2023 and is anticipated to expand at a CAGR of 8.7%. Owing to the increasing application in end–use industry the market is likely to propel to US$3.22 billion by 2033.

PAG Compressor oil market is witnessing a significant growth, especially in East Asia and South Asia Pacific. Strong industrial infrastructure spending in regions such as Europe and North America has resulted in the significant growth in the market.

The demand is expected to rise consistently in industries such as generation, automotive, chemical industry, pharmaceuticals, food and beverages and others. Increasing demand from the automotive industry for high-performance lubricants that can withstand high temperatures and extreme pressure is expected to drive the growth of the PAG compressor oil market.

Asia Pacific has become the hub of the automotive industry in the last few years. The surge in demand for automobiles in expanding economies, such as China and India, is driving the global automobile industry, which in turn is boosting the need for PAG compressor oil market.

The rise in the number of investments in the automotive sector, typically in the Middle East & Africa, is expected to be a key factor that propels the PAG compressor oil market in the region.

Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15990

Key Takeaways from the Market Study

  • As of 2023, the PAG compressor oil market was valued at US$1.4 Billion
  • From 2023 to 2033, the PAG compressor oil industry is poised to grow at an 8.7% CAGR
  • By 2033, the PAG compressor oil market is slated to reach a valuation of US$3.44 Billion
  • By end-user, the general manufacturing segment accounted for the highest CAGR of 8.1% and is expected to continue this trend over the forecast period.
  • China is poised to yield a CAGR of 8.5% with respect to PAG compressor oil in 2033

“Increasing usage of PAG Compressor oil in the Automotive, general manufacturing, mining, and construction industries are expected to radically transform the PAG compressor oil market in the coming years,” comments an analyst at FMI.

Competitive Landscape

Idemitsu Lubricants America, Boss Lubricant, Castrol, Phillip 66 Lubricant, Total Lubricant USA Inc., Mannol, AMSOIL, Exxon Mobil Corporation, Technical Lubricants International B.V., Shandong Shing Chemical Co., Ltd.  are some of the key players in the PAG Compressor Oil industry.

The manufacturers are involved in the production of PAG Compressor Oil in a larger capacity. The global PAG Compressor Oil Market is consolidated with the presence of major international players. However, the presence of small- and medium-sized domestic players makes the market highly competitive.

  • ExxonMobil, Shell, CNOOC, and Guangdong Provincial Development & Reform Commission have signed a Memorandum of Understanding to evaluate the potential for a world-scale carbon capture and storage project to reduce greenhouse gas emissions at the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province, China.
  • May 2020 – Idemitsu Lubricants America provides incredible new levels of engine protection with its line of fully synthetic motor oils that meet and exceed the new SP/GF-6A industry standards for more protection, performance and power. Also, Idemitsu has introduced a new 0W-16 SP/GF-6B Ultra-Low Viscosity Motor Oil with robust additive technology that exceeds forward-looking lubrication standards.
  • In March 2021— Independent Truck Repair Group (iTRG) announced that they have teamed up with Phillips 66 Lubricants to offer a national oil program for their members. Through this new program, iTRG members will have access to special pricing, promotional materials, rebates and enhanced education and technical support on Phillips 66 (NYSE: PSX) premium diesel products.

Key Segments Covered in the PAG Compressor Oil Market Industry Survey

By Compressor Type:

  • Reciprocating Compressor
  • Rotary Compressor
  • Centrifugal Compressor

By End-user:

  • PAG Compressor Oil in Automotive
  • PAG Compressor Oil in Mining
  • PAG Compressor Oil in Construction
  • PAG Compressor Oil in General Manufacturing
  • PAG Compressor Oil in Food & beverages
  • PAG Compressor Oil in other

By Region:

  • North American
  • Latin American
  • European
  • Asia Pacific
  • MEA

Browse Full Report @ https://www.futuremarketinsights.com/reports/pag-compressor-oil-market

Comments

Post a Comment

Popular posts from this blog

Cetrimonium Bromide Market Size, Share, Demand, Growth & Trends by 2033

-
  Cetrimonium Bromide (CTAB) is a versatile quaternary ammonium compound commonly used in hair care products and cosmetics. As a cationic surfactant, it reduces surface tension and functions as a conditioning agent, providing antistatic and detangling properties to hair. Beyond its cosmetic applications, CTAB finds use in pharmaceutical formulations as an antiseptic agent, exhibiting strong antimicrobial activity. It is also employed in industrial processes and research laboratories, making it a multi-functional ingredient with broad-reaching applications. The report is intended to present an unbiased analysis. It therefore offers incisive coverage on key market dynamics, including drivers, restraints, opportunities, and challenges. It also offers detailed information on Cetrimonium Bromide market structure. FMI’s in-house team for chemicals & materials sector gives valuable insights, validated with latest data. The report also gives access to extensive database that tracks exist
Read more

Calcium Ammonium Nitrate Market Size, Share, Growth, Demand & Trends by 2032

-
  Calcium Ammonium Nitrate (CAN) is a nitrogen-based fertilizer with a balanced nutrient composition, containing both ammonium and nitrate forms of nitrogen. It's highly soluble and provides essential nutrients to plants for optimal growth. CAN is widely used in agriculture for its convenience in application and its positive impact on crop yield and quality. As per the recent research conducted by a leading market insights provider FMI, the global Calcium Ammonium Nitrate market will expand at a healthy CAGR over the forecast period between 2023 and 2032. The aim of this study is to analyze key market dynamics affecting the sales of Calcium Ammonium Nitrate and provide vital insights to business owners to get benefited from forthcoming opportunities. The report conducts an in-depth analysis into factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for the demand and sales across seven major regions. It also provides r
Read more

Lithium Mining Market Size, Share, Demand, Revenue & Growth by 2032

-
  The global  lithium mining market  is anticipated to accrue a value of US$ 3.4 billion in 2032, as opposed to a valuation of US$ 1.66 billion in 2022. The target market is set to expand at a healthy CAGR of 7.43% from 2022 to 2032. Factors like the escalating adoption of lithium in glass and ceramic manufacturing and the emergence of electronic vehicles that augment the demand for lithium-ion batteries facilitate the growth of the lithium mining market. The ongoing technological innovations and widespread lithium use in air treatment also drive the expansion of the lithium mining market size during the forecast period. The shift witnessed in the design and advancement of battery technology along with concerns regarding the decline in fossil fuels will likely stimulate market growth for lithium mining. The fall in the availability of fossil fuels, rising carbon emissions, and emphasis on alternative sources of power encourage greater lithium mining. As it is estimated that lithium m
Read more