Polyalkylene Glycols (PAGs) Market 2021 Business Outlook – Dow, BASF SE, Royal Dutch Shell plc, Idemitsu Kosan Co.,Ltd., and Clariant

Polyalkylene Glycols (PAGs) Market - Growth, Trends, and Forecast (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Polyalkylene Glycols (PAGs) Market on the basis of stating current situation of the industry in 2020. This is a latest report, covering the Post COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market.

The market for Polyalkylene Glycols (PAGs) is expected to grow at a CAGR of over 11% during the forecast period.

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Competitive Landscape

The polyalkylene glycols market is fragmented with top players accounting for a marginal share of the market. Some of the key companies in the market include Dow, BASF SE, Royal Dutch Shell plc, Idemitsu Kosan Co.,Ltd., and Clariant.

Major factors driving the market studied are increasing demand of polyalkylene glycol in lubricants and rising demand from pharmaceuticals segment. On the flipside, higher cost of polyalkylene glycol on comparing to conventional mineral oils and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.

- Growing application of polyalkylene glycols in making polyurethane foams is expected to offer various lucrative opportunities for the growth of market.

- By application, lubricants segment is expected to dominate the market owing to the increase in the consumption in various end-user industries namely synthetic lubricants industry, refrigeration lubricants industry, and automotive lubricants industry.

- Asia-Pacific region dominated the polyalkylene glycols market across the globe with the largest consumption from countries such as china and India.

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Key Market Trends: 

Increasing Demand from Lubricants Segment

- Polyalkylene glycol, also named as polyalkylene oxide, is a polyether compound. It is a polymer obtained by addition of one of more repeating epoxide units.

- Growing application of polyalkylene glycol in gear lubricants, hydraulic fluids lubricants, turbine oils, industrial air compressor fluids, amongst others is propelling the polyalkylene glycols market demand.

- Furthermore, polyalkylene glycols have superior lubricity properties, great viscosity index, environment-friendly nature, and low volatility in high temperature applications. Owing to these properties the demand of PAGs is anticipated to increase in the near future.

- The global lubricants market was valued at USD 164.3 billion in 2019 and is expected to grow at a CAGR of over 3% during the forecast period and reach USD 188 billion by 2024. Due to this, the demand of synthetic lubricants is likely to increase, which would boost the demand of polyalkylene glycols and thus, propel its market during the forecast period.

- Owing to all the above-mentioned factors for polyalkylene glycols, its market is expected to grow rapidly over the forecast period.

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