Poly
alpha olefin is a 100% synthetic chemical compound derived by
polymerizing an alpha-olefin. It is a type of organic olefin which is
used in the production of some synthetic lubricants as a base stock.
Poly alpha olefin (PAO) market is expected to expand at a significant
growth rate, owing to increasing demand for automotive across the
globe.
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The
growth of the global poly alpha olefin (PAO) market is driven by
growing automotive industry and increasing offshore drilling
activities. Macroeconomic factors including growing economy,
population and employment, rising disposable income, and rapid rate
of urbanization as well as industrialization also driving the global
poly alpha olefin (PAO) market. Advantages of poly alpha olefin
including good load carrying capacity, high thermal stability, and
wear & tear protection are expected to propel the global poly
alpha olefin (PAO) market over the forecast period. The increase in a
number of automotive results in rising concerns for greenhouse gas
emissions which is one of the restraining factor of the global poly
alpha olefin (PAO) market. Integration of value chain, increasing
automation, the rapid rate of technological advancements and
increasing investment in the automotive industry are some of the
factors trending the global poly alpha olefin (PAO) market over the
forecast period. The poly alpha olefin (PAO) market is expected to
have a significant opportunity in developing economies such as GCC
countries, most countries in Asia Pacific, Brazil, etc., attributed
to the shift from conventional mineral oils towards high-grade
lubricants.
Few
players in the global
poly alpha olefin (PAO) market include Shell Chemical Ltd.,
Mitsui Chemicals, Inc., Idemitsu Kosan Co., Ltd., Lubricon
Industries, Shanghai Fox Chemical Technology Co., Ltd., NACO
Corporation, Chemtura Corporation, INEOS Oligomers, Tulstar Products,
Inc, ExxonMobil, and Chevron Phillips Chemical Company LLC.
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