Press release
Poly Alpha Olefins (PAO) market size to Witness High Growth in near future: Shell Chemicals, Q-Chem., Chevron Phillips and Sasol
Poly Alpha Olefin Market
Poly Alpha Olefins (PAO) market are lubricants with composition of hydrogen and lithium soap. It’s a colourless liquid having molecules with predetermined chain length which are manufactured by catalytic polymerization of linear alpha olefins. Demand for poly alpha olefin in synthetic lubricant application is to rise as increase in offshore drilling activities coupled with growing automotive industry should boost product demand.
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Automotive OEM’s are also recognising benefits of Poly Alpha Olefins (PAO) market in terms of improving engine efficiency and reducing emissions contributing in its growing automobile applications. Major factors for suitability of PAO’s in automobile industry include controlled structure, absence of lighter & more volatile (small) hydrocarbons results in lower volatility, less hydrocarbon tailpipe emissions and raise in a flash point anticipating to propel poly alpha olefins market size.
Poly Alpha Olefins (PAO) market are extensively used in combination with lower viscosity fluids like mineral oils, to achieve wide range of industrial lubricants and greases which can be used under severe operating conditions stimulating its demand. It forms a very non-polar base oil with a high viscosity index (of approximately 130), excellent low-temperature flow and pour-point characteristics because of the absence of ring structures, double bonds, sulphur, nitrogen components or waxy hydrocarbons.
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POA based biodegradable hydraulic fluids are also gaining the global importance encouraging its utilisation in regional industries. Stringent regulations in Europe pertaining to use of biodegradable oils under the policies of White Swan Scheme and Blue Angel Scheme, supports consumption of biodegradable oils, and anticipates to drive demand in regional industry.
Asia Pacific driven by India, Japan and China, Poly Alpha Olefins (PAO) market size may grow significantly over the forecast period. Asia Pacific accounted for over 12% of the total market volume in 2015 and is estimated to be fastest growing regional market owing to rapidly driven automotive and OEM industry which is experiencing a shift from mineral to synthetic based lubricants.
Ensuring continuous raw material supply for alpha olefins production in Russia and the U.S. and increase in oil production in OPEC countries along with volatile nature of raw material prices will remain a key challenge for industry participants.
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Global Poly Alpha Olefins (PAO) market share is moderately fragmented with major players operating in this market include Shell Chemicals, Q-Chem., Chevron Phillips and Sasol. The companies plan to expand its production and reach through integration and by owning patented technologies to propel industry competitiveness. These industry players also integrate their operations over a value chain which includes raw materials production as well as supply and final products. Other participants include ExxonMobil Corp., INEOS Oligomers and Chevron Phillips a Chemical Company LP along with own patented technologies for poly alpha olefin production.
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