Transparency Market Research (TMR) investigates that the global PAG base oil market has a competitive vendor landscape. The key players in the global polyacrylamides market are united as the limited number of players operating globally. Companies including BASF SE, Ashland Inc., Bio-Rad, Kemira Inc., and SNF Group are some of the prominent players accounting for a leading share in the PAG base oil market.
According to TMR, the global PAG base oil market is estimated to expand at a CAGR of 3.8 % over the forecast period from 2017 to 2025 to attain a value of US$1,623.0 mn by 2022-end. The market stood at US$1,343.8 mn in the year 2017.
Widening Applications of the PAG Base Oil to Propel Market’s Growth
PAG oils have diverse properties that make them fitting for grouped amassing and mechanical applications. Owing to the water dissolvable nature, these frameworks are more straightforward and this will impact PAG base oil to be exceedingly supported over various ventures. In like manner, PAG base oil are shear stable and gives high consistency, which makes them proper for certain applications. These warmth confirmation and vitality compelling PAG base oils are finding various applications in endeavors and this boosting the improvement of the market over the globe.
Demand for the Flame resistant to propel market growth
PAG base oils offer various points of interest which is boosting their interest. A portion of these points of interest are: mileage security, warm strength, low contact and high burden passing on breaking point. The reliable undertakings taken by market players for inventive work with an intend to achieve advancement and bleeding edge development is further giving rich market opportunity. On account of such exercises, flame resistant ester-based oils have been made and used in view of water driven battery packs keeping the ultimate objective to help high weight and temperature. This warmth verification oil is also used over a plenty of enterprises. Besides, the low unusualness under high temperature and insurance from the improvement of development and stores is impacting PAG to base oils to be reasonable to be utilized in various applications.
This information is encompassed in the report by TMR, titled, “PAG Base Oil Market (Product - Water Soluble PAG Oils and Water Insoluble PAG Oils; End-use Sector - Industrial Tooling and Equipment, HVAC and Refrigeration Equipment, and Automotive; Application - Compressor Lubricants, Worm Gear Lubricants, Anhydrous Fire Resistant Hydraulic Fluid, and Metal Working Fluid; Sales Channel - OEM and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022.”
For the study, the PAG base oil market has been segmented as follows:
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