According to a new report, published by KBV research, The Global Polyalphaolefin Market size is expected to reach $2.5 billion by 2030, rising at a market growth of 3.0% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,821.1 hundred Tonnes, experiencing a growth of 2.2% (2019-2022).
The High Viscosity segment is leading the Global Polyalphaolefin Market by Type in 2022 thereby, achieving a market value of $1.4 Billion by 2030. High viscosity PAO is compatible with seals and materials commonly used in various industries. Its ability to maintain viscosity over a wide temperature range and provide superior lubrication performance makes it a preferred choice for many applications. Consequently, it is used in various industrial applications, including gear oils, compressor oils, hydraulic fluids, and industrial lubricants. The growth of industries such as manufacturing, automotive, and construction increases the demand for these lubricants, thereby driving the demand for high viscosity PAO.
The Grease Segment is expressing a CAGR of 4.0 % during (2023 - 2030). Certain industries and applications require specialized greases with specific performance characteristics. PAO-based greases can be formulated to meet the unique requirements of these applications, such as high-speed bearings, extreme temperatures, food-grade environments, and electrical contacts. As industries continue to evolve and demand greases tailored to their specific needs, PAO-based greases’ versatility and customizable nature make them attractive options.
Full Report: https://www.kbvresearch.com/polyalphaolefin-market/
The Europe region dominated the Global Polyalphaolefin Market by Region in 2022 thereby, achieving a market value of $879.1 Million by 2030, growing at a CAGR of 2.7 % during the forecast period. The North America region is experiencing a CAGR of 2.8% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 3.3% during (2023 - 2030).
By Type (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Hundred Tonnes, USD Billion, 2019-2030)
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