Home > Chemicals & Materials > Lubricant and Greases > Industrial Lubricants > PAG Base Stock Market

PAG Base Stock Market Analysis

Report ID: GMI5404
Published Date: Nov 2022
Report Format: PDF

Download Free Sample

PAG Base Stock Market Analysis

To get key market trends
Download Free Sample

PAG base stock market is divided based on type into random copolymer, block copolymer, water soluble, water insoluble, and mineral oil soluble. The mineral oil soluble segment is projected to develop at more than 6.5% CAGR through 2032. Due to its excellent lubricity, cost-effectiveness, and dependability in retrofit applications, mineral oil soluble PAG base stock is in high demand amongst automobile manufacturers. Additionally, the increasing use of mineral oil soluble polyalkylene glycols in compressor lubricants, metalworking & hydraulic fluids, and engine oil applications for automotive transmission are likely to augment segment share.

Learn more about the key segments shaping this market

Download Free Sample

PAG base stock market is bifurcated as per application into gear oils, compressor oils, metalworking and quenching fluids, fire resistant hydraulic fluids, wind turbine lubricants, food grade lubricants, and others. The wind turbine lubricants segment is anticipated to expand at over 5.5% CAGR through 2032 due to the burgeoning demand for PAG oils for gear lubrication in wind turbines. Furthermore, with the rising importance of sustainable energy sources, there is an upsurge in the need for energy-efficient gear lubricants, which is boosting the uptake of these lubricants for wind turbine applications and is estimated to facilitate segment development.

By end use, the aerospace segment of the PAG base stock market is expected to grow at over 6% CAGR from 2023 to 2032 attributed to the growing use of PAG lubricants in fire-resistant hydraulic fluids in the aerospace sector for aircraft carrier catapult and airport air bridge lubrication. These lubricants also protect the interior parts of aircraft turbines against corrosion. Furthermore, the use of the PAG base stock to avoid fire breakouts in military aircraft is foreseen to bolster product utilization in the aerospace industry.

Looking for region specific data?

Download Free Sample

North America PAG base stock market is projected to depict more than 5.5% CAGR between 2023 and 2032 owing to an increase in commercial travel in the post-pandemic era as well as a high focus on new technologies. Shifting inclination toward improved digital and operational efficiencies, which is anticipated to accelerate market progression.

Authors: Kunal Ahuja, Kiran Pulidindi

Frequently Asked Questions (FAQ) :

Global market for PAG base stock was valued at over USD 1.5 billion in 2022 and is estimated to record growth at a 7.5% CAGR through 2032 due to soaring climate consciousness among consumers across the globe.

Aerospace segment is projected to expand at over 6% CAGR from 2023 to 2032 owing to the growing use of PAG lubricants in fire-resistant hydraulic fluids in the aerospace sector and the use of these lubricants to protect the interior parts of aircraft turbines against corrosion.

North America PAG base stock market is projected to depict more than 5.5% CAGR between 2023 and 2032 backed by the growing U.S. aerospace industry and shifting inclination toward improved digital and operational efficiency.

The Dow Chemical Company, BASF SE, Clariant AG, Croda International Plc, Idemitsu Kosan Co., Ltd., PCC Group, and Fuchs Group, among others are some prominent enterprises operating in the industry.