What is the global market size of Poly Alpha Olefin Market?

Global Poly Alpha Olefin Market was valued at USD 1.3 billion in 2021, and it is expected to reach a value of USD 1.58 billion by 2028, at a CAGR of more than 2.82 % over the forecast period (2022-2028). Read More

Poly Alpha Olefin Market Size, Share, Growth Analysis, By End-user(Industrial, automobile (passenger cars, light motor vehicle, heavy motor vehicle).), By Type(Low viscosity poly-alpha-olefin (PAO), medium viscosity poly-alpha-olefin (PAO), high viscosity poly-alpha-olefin (PAO)), By Application(Lubricant, industrial oil, hydraulic fluids, greases), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Poly Alpha Olefin Market?

Europe dominated the global poly-alpha-olefin market in 2021. Europe dominates the poly-alpha-olefin (PAO) market, with a relatively high revenue share for the automotive industry, and the presence of key players in the region is set to further enhance its dominance during the forecast period. Read More

Report ID: SQSG15A2050 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 96 | Figures: 80

Poly Alpha Olefin Market News

In June 2022, INEOS Oligomers announced that it has started up its new 120 000 tpy Low Viscosity Polyalphaolefin (LV PAO) unit at Chocolate Bayou, Texas, US.
In June 2022, INEOS announced 50% expansion of its high viscosity PAO Unit in La Porte, TX.
In June 2022, Chevron Phillips Chemical (CPChem; The Woodlands, Tex.) announced new plans to expand its polyalphaolefins (PAO) business with the construction of a new unit in Beringen, Belgium. Once local permits are approved, this significant investment will double the company’s PAO production capacity in Belgium (to 120,000 metric tons per year) upon targeted startup in 2024.
In August 2022, a joint venture of the UK’s Ineos, France’s Total and Saudi Aramco is evaluating the bids for the Engineering, Procurement and Construction (EPC) contract for the $600 million Jubail 2 Petrochemical Complex (Package 2), in Jubail, Saudi Arabia. An Ineos press statement issued then said it would build a 425,000-tonne acrylonitrile plant, a 400,000-tonne Linear Alpha Olefin (LAO) plant, and associated world-scale Polyalpha Olefin (PAO) plant that will produce the building blocks for carbon fibre, engineering polymers and synthetic lubricants at a total investment of $2 billion.

Poly Alpha Olefin Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Poly Alpha Olefin Market size was valued at USD 1.3 billion in 2019 and is poised to grow from USD 1.34 billion in 2023 to USD 1.67 billion by 2031, growing at a CAGR of 2.82% in the forecast period (2024-2031).

The poly-alpha-olefin market holds great potential for international and regional players. Emerging market players, especially from developing countries, are expected to have more opportunities to enter the market. Increasing establishment of government initiatives and increasing foreign investment to develop the sector, are expected to spur industry growth in the coming years. Overall, the market is highly competitive and dependent on product development and technological advancements. Industry players are striving to match local tastes and gain a competitive advantage over others. The presence of local players poses a significant threat to large multinationals in terms of product quality and prices offered to customers. 'British Petroleum', 'Exxon Mobil Corporation', 'Ineos', 'Shell', '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'

Increasing use of poly-alpha-olefins (PAOs) for automotive applications is the main reason for the growth rate of the poly-alpha-olefins (PAOs) market. Increasing industrialization and increasing demand for synthetic base oils in the drilling industry will also have a direct and positive impact on the growth rate of the poly-alpha-olefin (PAO) market. The growth and expansion of the automotive industry, especially in emerging markets such as India and China, coupled with increasing urbanization, further paves the way for the growth of the poly-alpha-olefin (PAO) market. Increasing offshore drilling activity is another indirect determinant driving the growth of the poly-alpha-olefin (PAO) market.

Rising operating temperatures in power electronics, electric motors, and batteries are a result of advances in electric vehicle technology, driving demand for synthetic multigrade gear oils combined with high-quality PAOs with advanced additive technology increment.

Europe dominated the poly-alpha-olefin market in 2021. Europe dominates the poly-alpha-olefin (PAO) market, with a relatively high revenue share for the automotive industry, and the presence of key players in the region is set to further enhance its dominance during the forecast period.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Poly Alpha Olefin Market News

Poly Alpha Olefin Market Report Snapshots

Want to customize this report?

FAQs

What is the market size of Poly Alpha Olefin Market?

Who are the key vendors in the Poly Alpha Olefin Market?

What is the key driver of Poly Alpha Olefin Market?

What is the key market trend for Poly Alpha Olefin Market?

Which region accounted for the largest share in Poly Alpha Olefin Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300