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潤滑油

市場調查報告書

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1090199

聚亞烷基二醇 (PAG) 的全球市場

Polyalkylene Glycol Market

出版日期: 2022年05月26日 | 出版商:

IndustryARC | 英文 135 Pages | 商品交期: 2-3個工作天內

價格

簡介目錄

聚亞烷基二醇 (PAG) 市場的規模預計將從 2022 年到 2027 年以 5.5% 的複合年增長率增長，到 2027 年增長到 4.571 億美元。

汽車、金屬加工、紡織、食品和飲料等各個行業的潤滑油趨勢預計將在預測期內推動市場。印度、中國、印度尼西亞和韓國等新興國家的工業化進程也在積極推動對合成潤滑油的需求，並進一步推動對聚亞烷基二醇（PAG）的需求。

本報告調查了全球聚亞烷基二醇 (PAG) 市場，定義和概述了市場，分析了對市場增長的各種影響因素、市場規模的變化/預測以及各種類別/地區/專業。總結了按國家/地區分列的細分、競爭環境、主要公司概況等。

潤滑劑
- 齒輪潤滑油
- 冷凍機油
- 紡織潤滑劑
- 壓縮機潤滑油
- 塑料潤滑劑
- 金屬加工潤滑劑
- 液壓液壓油
- 食品級潤滑油
- 其他
聚氨酯泡沫
- 硬質泡沫
- 軟泡
表面活性劑
- 非離子表面活性劑
- 陰離子表面活性劑
- 陽離子表面活性劑
- 其他
個人護理
- 皮膚護理
- 口腔護理
- 頭髮護理
- 香水/除臭劑
製藥
其他

第 10 章聚亞烷基二醇 (PAG) 市場：按地區劃分

北美
歐洲
亞太地區
南美洲
其他領域

第 11 章聚亞烷基二醇 (PAG) 市場：熵

推出新產品
併購/合作/合資/聯盟

第 12 章聚亞烷基二醇 (PAG) 市場的企業分析：業務概述/產品組合/資金/發展

BASF
HUNTSMAN
DOW
Clariant AG
Lanxess
Stepan Company
Croda International PLC
PCC Group
Zhengzhou Chorus Lubricant Additive Co., Ltd
NH Chemical
Geo Specialty Chemicals

簡介目錄

Product Code: CMR 0493

Polyalkylene Glycol market size is forecast to reach US$457.1 million by 2027, after growing at a CAGR of 5.5% during 2022-2027. Polyalkylene glycol base oil is known as polyglycols or PAGs which is formed by reacting an alcohol with one or more alkylene oxides (Polypropylene Glycol and Polyethylene Glycol). Polyalkylene glycols are the base oil belonging to group V which are widely preferred in the development of synthetic lubricants. The growing preference for lubricants among different industries such as automotive, metalworking, textile, food & beverage is driving the market for polyalkylene glycols during the forecast period. Polyalkylene glycol-based lubricants offer superior performance and optimum safety. They can withstand elevated rpm, high temperatures, and normal shock loading among others. The growing industrialization in emerging economies such as India, China, Indonesia, and South Korea among others is positively driving the demand for synthetic lubricants which is further driving the demand for polyalkylene glycols. According to Mosil Lubricants Ltd, approximately 41 MMT (million metric tonnes) of lubricants are produced globally every year.

Impact of COVID-19

The COVID-19 outbreak led to major economic problems and challenges for the oil & gas and industries globally. According to the International Monetary Fund (IMF), the global GDP growth declined by 3.5% owing to the economic impact of COVID-19. Governments all across the globe announced strict measures to slow the spread of the coronavirus and only the production of essential commodities was allowed, which impacted the non-essential commodity industries, thereby impacting the production of polyalkylene glycols. However, economic. The shutdown in manufacturing facilities and the halt in transportation activities also impacted the global demand for lubricants and further impacted PAG market globally. However, the market is shown a positive trend in 2021 due to the resume in manufacturing facilities in Asia Pacific region.

Report Coverage

The "Polyalkylene Glycol Market Report - Forecast (2022-2027)", by IndustryARC, covers an in-depth analysis of the following segments of the Polyalkylene Glycol industry.

By Type: Grease, Anti-seize Pastes, and Oils

By lubricants Grade: Polyalkylene Glycol Grade 32, Polyalkylene Glycol Grade 46, Polyalkylene Glycol Grade 68, Polyalkylene Glycol Grade 100, and others

By Solubility: Oil soluble, mineral soluble, and water-soluble

By Application: Lubricants [Gear Lubricants, Refrigeration Oil, Textile Lubricants, Compressor Lubricants, Plastic Lubricants, Metalworking Lubricants, Hydraulic Fluids, Food Grade Lubricants, Others], Polyurethane Foams [Rigid Foam, and Flexible Foam], Surface Active Agents [Non-ionic Surfactants, Anionic Surfactants, Cationic Surfactants, and Others], Personal Care [Skin Care [Creams, Lotions, Moisturizers, and Others], Oral Care, Hair Care, Perfume & Deodorants], Pharmaceutical, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Netherlands, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), and Rest of the world (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa).

Key Takeaways

The Asia Pacific dominated the polyalkylene glycol market in the year 2021. One of the key drivers driving the market is the increasing use of polyalkylene glycol in the lubricants industry.

The growing production and demand for synthetic-based lubricants in the automotive industry are propelling the market growth for PAG base oil. Approximately 24% of synthetic lubricants are manufactured from polyalkylene glycols as base oil.

However, fluctuating oil prices along with the high price of polyalkylene glycols compared to conventional mineral oils are likely to hamper the market growth during the forecast period.

Polyalkylene Glycol Market Segment Analysis - By Solubility

The water-soluble ployalkylene glycols segment held the largest share in 2021 and is expected to grow at a CAGR of 6.0% by 2027. The major companies such as Dow, BASF, and Clariant are majorly focusing on water-soluble PGA oils. Water-soluble polyalkylene glycol is derived from completely renewable feedstock. It reduces greenhouse gas emissions by approx. 80% as compared to traditional polyalkylene glycol (PAG). They are biodegradable in nature and have low eco-toxicity compared to oil soluble. Water-soluble PAG oil offers various properties such as high thermal stability, high shear stability, high viscosity, and low volatility making it ideal for high-temperature lubrication. They are used for various applications such as metalworking fluids, and water-based hydraulic fluids formulations among others. Hence the growing demand for metalworking fluids is driving the demand for water-soluble PAG. According to World Steel Organization, the total crude steel production in North America reached 108.3 million tons in 2021, an increase of 17.8% as compared to 2020. Likewise, crude steel production in South America reached up to 42.1 million tons in 2021, representing a growth of 20.7% in comparison to 2020.

Polyalkylene Glycol Market Segment Analysis - By Application

The Lubricants segment held the largest share with 84% in the polyalkylene glycol market in 2021 and is anticipated to grow at a CAGR of 5.7% during the forecast period 2022-2027. Polyalkylene glycols (PAGs) are used in the production of different types of lubricants such as gear lubricants, textile lubricants, refrigeration oils, compressor lubricants, and others. The PAG offers various properties such as high viscosity indexes, hydrolytic stability, and excellent control of deposits which makes them suitable for the production of lubricants. The new advancements in lubricants technology and expansion of lubricant manufacturers are supporting the market growth for polyalkylene glycols during the forecast period. For instance, in August 2020, Idemitsu Kosan Company, Ltd., a market leader in the production of polyalkylene glycol lubricants, started its new plant in China for the production of lubricants. The plant have a capacity of producing 120,000 kilo litre of lubricants annually. In October 2020, The BPCL company also launched two new lubricants namely Mak TitaniumCK4, and Mak BlazeSynth, to its product portfolio.

Polyalkylene Glycol Market Segment Analysis - By Geography

The Asia Pacific region dominated the polyalkylene glycol market in terms of revenue with a share of 60% in 2021 and is projected to dominate the market during the forecast period (2022-2026). The presence of key lubricant manufacturers including BP Plc (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation, and Royal Dutch Shell Plc are driving the market growth for polyalkylene glycols in the Asia Pacific region. The growing production of passenger vehicles in developing nations such as India and China is supporting the market growth during the forecast period. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automobile production in China reached 2,60,82,220 units in 2021, an increase from 2,52,25,242 units in 2020, and 2,57,20,665 units in 2019 respectively. Further, the increasing investments among lubricants manufacturers are also boosting the market growth during the forecast period. In June 2021, IOCL signed an MOU for "Investment Promotion" between the Government of Gujarat and IndianOil for setting up a new Petrochemical and Lube Integration (LuPech) Project and Acrylics/Oxo Alcohol Projects in Gujarat.

Polyalkylene Glycol Market Drivers

Growing use of polyalkylene glycol in lubricants application

Polyalkylene Glycol is used as a base oil for lubricants such as gear lubricants, metalworking lubricants, refrigeration oil, and hydraulic fluids, among others because it is ideal for metal-on-metal applications with operating temperatures ranging from -40°C to 200°C. They are also employed at high temperatures where elastomeric compatibility and thermal stability are required. The global players operating in lubricants production are adopting synthetic base oils for developing high-performance lubricants for different end-use industries such as automotive, textile, food & beverage among others supporting the market growth for polyalkylene glycol. The top lubricants companies such as Shell, Castrol, Cargill, and Exxon among others are developing PAG-based hydraulic and gear lubricants. In October 2020, Shell Plc expanded its lubricants business and added some Polyalkylene Glycol (PAG)-Based Fire-Resistant Fluids to its product portfolio. These products are designed to provide outstanding performance in extreme operating conditions among end-use industries.

Growing demand from Metallurgy Industry

Metalworking fluids employ polyalkylene glycol during the manufacturing process, which is largely utilized in the metallurgy industry to provide lubrication and cooling during the machining and shaping of metals such as iron, aluminum, manganese, and others. They are most commonly used in metal cutting tools to reduce heat and friction between the cutting tool and the workpiece. The growing automotive industry along with construction and manufacturing industries is driving the demand for metalworking fluids. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automobile production in the U.S including cars and commercial vehicles reached 91,67,214 units in 2021, an increase of 4% in comparison to 2020. The increasing mining activities are also boosting the market for metalworking fluids, according to the facts published by the United States Geological Survey (USGS), the global aluminum production was 65,100 in 2020 and reached approximately 68,000 thousand metric tons in 2021, an increase of 4.4% compared to 2021.

Polyalkylene Glycol Market Challenges

Availability of substitute products in the market

The polyalkylene glycol has several substitutes such as polyalphaolefin (PAO), synthetic esters, ionic fluids, and more. These substitutes have similar chemical properties, performance, and other similar factors such as temperature range, viscosity, and more, which are restricting the polyalkylene glycol market growth. Polyalphaolefin (PAO) is a widely used substitute for the manufacturing of lubricants. Polyalphaolefin has superior properties in comparison with polyalkylene glycol such as mineral oil solubility, only some of the mineral oils are soluble in polyalkylene glycol, while polyalphaolefin is fully soluble in mineral oils. The polyalkylene glycol rolling wear property is weaker when compared with polyalphaolefin. Moreover, when comparing the price aspect the average prices of polyalkylene glycol ranges from approximately US$2,800 to even higher. While the average price of polyalphaolefin ranges from US$2,500 to US$3,000 per metric ton.

Polyalkylene Glycol Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Polyalkylene Glycol market.

Polyalkylene Glycol top 10 players include:

BASF
HUNTSMAN
DOW
Clariant AG
Lanxess
Stepan Company
Croda International PLC
PCC Group
Zhengzhou Chorus Lubricant Additive Co., Ltd
NH Chemical.

Recent Developments

In July 2021, DOW announced its plan of expanding its propylene glycol portfolio in Thailand. This expansion is done to meet the growing need for propylene glycol in various end-use markets.

In April 2020, Univar Solutions China Limited, a subsidiary of U.S.-based global chemical and ingredient distributor Univar Solutions Inc., announced an extension of its relationship with Dow Chemical in connection with UCON PAG-based synthetic products in China.

In October 2020, BASF started expansion of synthetic ester base stocks production capacity at its Jinshan, China, site in response to rising demand for high-performance lubricants that address sustainability trends in the Asia-Pacific region. The expansion is expected to be completed by the second half of 2022.

1. Polyalkylene Glycol Market- Market Overview

1.1 Definitions and Scope

2. Polyalkylene Glycol Market- Executive Summary

2.1 Key Trends by Type
2.2 Key Trends by Lubricants Grade
2.3 Key Trends by Solubility
2.4 Key Trends by Application
2.5 Key Trends by Geography

3. Polyalkylene Glycol Market- Comparative analysis

3.1 Market Share Analysis- Major Companies
3.2 Product Benchmarking- Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis- Major Companies
3.5 Pricing Analysis (ASPs will be provided)

4. Polyalkylene Glycol Market - Market Forces

4.1 Market Drivers
4.2 Market Constraints
4.3 Porters Five Force Model
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Powers of Buyers
- 4.3.3 Threat of New Entrants
- 4.3.4 Competitive Rivalry
- 4.3.5 Threat of Substitutes

5. Polyalkylene Glycol Market - Strategic Analysis

5.1 Value/Supply Chain Analysis
5.2 Opportunity Analysis
5.3 Product/Market Life Cycle
5.4 Distributor Analysis - Major Companies

6. Polyalkylene Glycol Market - By Type (Market Size -US$ Million)

6.1 Grease
6.2 Anti-seize Pastes
6.3 Oils

7. Polyalkylene Glycol Market - By Lubricants Grade (Market Size -US$ Million)

7.1 Polyalkylene Glycol Grade 32
7.2 Polyalkylene Glycol Grade 46
7.3 Polyalkylene Glycol Grade 68
7.4 Polyalkylene Glycol Grade 100
7.5 Others

8. Polyalkylene Glycol Market - By Solubility (Market Size -US$ Million)

8.1 Oil Soluble
8.2 Mineral Oil Soluble
8.3 Water Soluble

9. Polyalkylene Glycol Market - By Application (Market Size -US$ Million)

9.1 Lubricants
- 9.1.1 Gear Lubricants
- 9.1.2 Refrigeration Oil
- 9.1.3 Textile Lubricants
- 9.1.4 Compressor Lubricants
- 9.1.5 Plastic Lubricants
- 9.1.6 Metalworking Lubricants
- 9.1.7 Hydraulic Fluids
- 9.1.8 Food Grade Lubricants
- 9.1.9 Others
9.2 Polyurethane Foams
- 9.2.1 Rigid Foam
- 9.2.2 Flexible Foam
9.3 Surface Active Agents
- 9.3.1 Non-ionic Surfactants
- 9.3.2 Anionic Surfactants
- 9.3.3 Cationic Surfactants
- 9.3.4 Others
9.4 Personal Care
- 9.4.1 Skin Care
  - 9.4.1.1 Creams
  - 9.4.1.2 Lotions
  - 9.4.1.3 Moisturizers
  - 9.4.1.4 Others
- 9.4.2 Oral Care
- 9.4.3 Hair Care
- 9.4.4 Perfume & Deodorants
9.5 Pharmaceutical
9.6 Others

10. Polyalkylene Glycol Market -By Geography (Market Size -US$ Million)

10.1 North America
- 10.1.1 USA
- 10.1.2 Canada
- 10.1.3 Mexico
10.2 Europe
- 10.2.1 UK
- 10.2.2 Germany
- 10.2.3 France
- 10.2.4 Italy
- 10.2.5 Netherlands
- 10.2.6 Spain
- 10.2.7 Russia
- 10.2.8 Belgium
- 10.2.9 Rest of Europe
10.3 Asia-Pacific
- 10.3.1 China
- 10.3.2 Japan
- 10.3.3 India
- 10.3.4 South Korea
- 10.3.5 Australia and New Zealand
- 10.3.6 Rest of APAC
10.4 South America
- 10.4.1 Brazil
- 10.4.2 Argentina
- 10.4.3 Colombia
- 10.4.4 Chile
- 10.4.5 Rest of South America
10.5 Rest of the World
- 10.5.1 Middle East
  - 10.5.1.1 Saudi Arabia
  - 10.5.1.2 UAE
  - 10.5.1.3 Israel
  - 10.5.1.4 Rest of the Middle East
- 10.5.2 Africa
  - 10.5.2.1 South Africa
  - 10.5.2.2 Nigeria
- 10.5.3 Rest of Africa