Poly alpha olefin is a 100% synthetic chemical compound derived by polymerizing an alpha-olefin. It is a type of organic olefin which is used in the production of some synthetic lubricants as a base stock. Poly alpha olefin (PAO) market is expected to expand at a significant growth rate, owing to increasing demand for automotive across the globe.
Global Poly Alpha Olefin (PAO) Market Dynamics:
The growth of the global poly alpha olefin (PAO) market is driven by growing automotive industry and increasing offshore drilling activities. Macroeconomic factors including growing economy, population and employment, rising disposable income, and rapid rate of urbanization as well as industrialization also driving the global poly alpha olefin (PAO) market. Advantages of poly alpha olefin including good load carrying capacity, high thermal stability, and wear & tear protection are expected to propel the global poly alpha olefin (PAO) market over the forecast period. The increase in a number of automotive results in rising concerns for greenhouse gas emissions which is one of the restraining factor of the global poly alpha olefin (PAO) market. Integration of value chain, increasing automation, the rapid rate of technological advancements and increasing investment in the automotive industry are some of the factors trending the global poly alpha olefin (PAO) market over the forecast period. The poly alpha olefin (PAO) market is expected to have a significant opportunity in developing economies such as GCC countries, most countries in Asia Pacific, Brazil, etc., attributed to the shift from conventional mineral oils towards high-grade lubricants.
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The global poly alpha olefin (PAO) market is segmented by end-use, application, and region. By end-use, the global poly alpha olefin (PAO) market segmented into the Industrial and Automobile. Among these, the automobile segment is growing at a substantial value CAGR in global poly alpha olefin (PAO) market whereas industrial segment accounts for relatively high revenue share the forecast period. On the basis of application, the global poly alpha olefin (PAO) market segmented into grease, compressor oil, engine oil, gear oil, and others. Among these, the engine oil segment account for relatively high revenue share in global poly alpha olefin (PAO) market followed by gear oil segment over the forecast period.
