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

Global 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). 

Poly-alpha-olefins are 100% synthetic compounds obtained by polymerizing alpha-olefins. It is a type of organic olefin used as a raw material in the manufacture of some synthetic lubricants. Poly-alpha-olefin is by far the most common major synthetic base oil used in industrial and automotive lubricants. It is a synthetic hydrocarbon (SHC) that mimics the best hydrocarbon (branched) structure found in mineral oils. Poly-alpha-Olefins are used extensively in automotive fluids as well as hydraulic, gear and bearing oils, working in extremely cold climates or hot applications. They are also employed as base fluids in some wide temperature range greases. One application in which they have not worked well is in high-temperature (high-pressure) reciprocating air compressors where valve deposits have been an issue.

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 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 market. Increasing offshore drilling activity is another indirect determinant driving the growth rate of the poly alpha olefin market.

US Poly Alpha Olefin Market is poised to grow at a sustainable CAGR for the next forecast year.