PAG Compressor Oil Market Trends Share Research

PAG Compressor Oil Market Trends, Share, Research & Forecast
2023 – 2032

PAG Compressor Oil Market is estimated to chart out
lucrative gains through 2032 subject to significant growth in APAC construction
and infrastructure industry. As per India Brand Equity Foundation estimates,
India would require more than USD 777 billion investment across infrastructure
sector by 2022 for sustainable development in the nation.

Factors like growing urbanization, high standards of living,
and increasing disposable incomes are expected to fuel the growth of
residential buildings in the region in the coming years. Besides, ongoing
infrastructure development projects and hefty spending on construction would
boost the sectoral development. Such trends are likely to impel the PAG
compressor oil market demand.

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PAG compressor oil exhibits superior wear protection, high
viscosity index and low pour point for use over expanding temperature range,
high resistance to dilution by hydrocarbon gases, increased film strength for
wear protection, protection against corrosion and rust. These parameters would
propel the market growth curve during 2023-2032.

On the whole, the global PAG compressor oil market is
fragmented in terms of type, end-user, and region.

Based on the type, reciprocating compressors segment is
slated to record notable gains through 2032. In reciprocating compressors, PAG
compressor oil is used to lubricate frame journal bearings, cylinders, and
other bearings. Single-stage reciprocating compressor are used in households
while double-stage reciprocating compressor are used in industrial
applications, complementing the product demand.

PAG compressor oil market revenue share from the
construction industry is predicted to exceed USD 447 million by 2032. The
construction sector employs air compressors to drive pneumatic tools and
drilling equipment. PAG compressor oils reduce wear and tear and contamination
in compressors, influencing its demand across the industry. Growing
construction industry in APAC economies and increasing mining activities in
Africa would further support the market expansion through 2032.

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Geographically, the PAG compressor oil market is estimated
to draw major traction from Latin America. The regional market is likely to
witness more than 8.5% CAGR between 2023-2032. LATAM market growth can be
driven by various central governments' push toward infrastructural development,
boosting the portable compressors demand in the ensuing years.

For instance, in early 2022, Mexico announced preparing a
multibillion-dollar infrastructure package with private firms. The investment
would also support efforts to attract the US investment to revive the economy.
Such initiatives are anticipated to strengthen the product penetration over the
stipulated time frame, generating lucrative opportunities for regional market
players.

Global PAG compressor oil market is highly consolidated and
boasts presence of leading players such as Total Lubricants USA, Exxon Mobil
Corporation, Castrol, Idemitsu Lubricants, Philip 66 Lubricants, Inc., and
others. Companies are relentlessly working toward launching new products,
engaging in research and studies and partnerships to score a competitive edge
over others.

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