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PAG Compressor Oil Market Size

Report ID: GMI5405
Published Date: Nov 2022
Report Format: PDF

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PAG Compressor Oil Market Size

PAG Compressor Oil Market size was worth over USD 1.3 billion in 2022 and is slated to depict more than 8.5% CAGR from 2023 to 2032. The increasing demand for air compressors across the industrial sector will propel the demand for PAG compressor oil.

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Industrial production has witnessed a massive boom over recent years owing to the supportive policy framework, technological breakthroughs, and improving economic landscape across both developed and developing nations such as China, Japan, India, Germany, and the US. For instance, according to the Indian Ministry of Finance, the Index of Industrial Production (IIP) reached an average of 130.2 in Quarter 2 from 121.3 in Quarter 1 during FY 2021-22.

PAG Compressor Oil Market Report Attributes
Report Attribute	Details
Base Year:	2022
PAG Compressor Oil Market Size in 2022:	USD 1.3 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8.6%
2032 Value Projection:	USD 2.7 Billion
Historical Data for:	2018 to 2022
No. of Pages:	269
Tables, Charts & Figures:	404
Segments covered:	Type, End-user, Region
Growth Drivers:	Rising demand for air compressors in the industrial sector Mature manufacturing sector in North America and Europe High growth in the Asia Pacific construction and infrastructure industry Growth in passenger vehicle sales
Pitfalls & Challenges:	Stringent government regulations and norms Volatility in raw material prices

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PAG compressor oil is extensively utilized as metalworking fluids, quenchants, food-grade lubricants, and lubricants in compressor and hydraulic equipment across several industrial verticals, such as food & beverages, semiconductors & electronics, general manufacturing, chemical, agriculture, and many more. The broad application spectrum associated with the product will help the PAG compressor oil industry gain significant momentum.

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Global market for PAG compressor oil was valued at over USD 1.3 billion in 2022 and is poised to exhibit more than 8.5% CAGR from 2023 to 2032 owing to the booming industrial sector and subsequent rise in demand for air compressors.

Rotary segment is anticipated to amass over USD 1.8 billion by 2032 owing to the increasing lubrication requirements in the rotary compression process due to consistent movement and heat generation.

General manufacturing segment is expected to witness more than 8% growth rate between 2023 and 2032 driven by the ability of PAG compressor oil to cool down compressor elements and minimize the prospects of costly repairs and downtime.

Players in the PAG compressor oil market include Idemitsu Lubricants America (ILA), BOSS Lubricants, Castrol, Philip 66 Lubricants, Total Lubricants USA, Inc., Sudheimer Car Technik Vertriebs (SCT) (MANNOL), AMSOIL Inc., and Exxon Mobil Corporation.