Short Description
Asia-Pacific Polyalkylene Glycol (PAG) Base Oil Market By Product (Conventional water insoluble and Water- Soluble), Application (Hydraulic Oil, Gear Oil, Compressor Oil, Metal Working Fluids, Greases and Others), End-Use (Automotive, Aerospace, Marine, Tooling & Industrial Equipment, HVAC & Refrigeration and Others), Country (Japan, China, South Korea, India, Australia and New Zealand, Taiwan, Hong-Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific), Market Trends and Forecast to 2029
Market Definition
PAG oil or polyalkylene glycol is completely synthetic hygroscopic oil intended specifically for air conditioning compressors in automobiles. They are widely used as compressor oil. Water-soluble PAG OIL and water insoluble PAG oil are two of the common products of the PAG. Other than compressor oil, they are also widely used in applications such as worn gear lubricant, anhydrous fire resistant hydraulic fluid, metal working fluid, and others. These PAG oils have high viscosity index, good water solubility, shear stability, and less volatility under high temperatures. Later, polyalkylene glycol (PAG) base oils began to see extensive use as textile lubricants and as quenchants in metal heat treating.
Market Segmentation
Asia-Pacific polyalkylene glycol (PAG) base oil market is segmented into three notable segments which are based on product, application, and end-use.
On the basis of product, the market is segmented into conventional (water insoluble) and water soluble.
On the basis of application, the market is segmented into hydraulic oil, gear oil, compressor oil, metal working fluids, greases and others.
On the basis of end-use, the market is segmented into automotive, aerospace, marine, tooling & industrial equipment, HVAC & refrigeration and others.
Market Players
Phillips 66 Company
Exxon Mobil Corporation
Total Energies
Royal Dutch Shell Plc
Denso Corporation
BASF SE
ENI Oil Products
Chevron Corporation
FUCHS
Croda International Plc
HANNONG Chemicals Inc.
Petronas Lubricants International
LIQUI MOLY GmbH
Morris Lubricants
Ultrachem Inc
Idemitsu Kosan Co., Ltd.
TABLE OF CONTENTS
1 INTRODUCTION 21
1.1 OBJECTIVES OF THE STUDY 21
1.2 MARKET DEFINITION 21
1.3 OVERVIEW OF ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OILS MARKET 21
1.4 LIMITATION 22
1.5 MARKETS COVERED 23
2 MARKET SEGMENTATION 26
2.1 MARKETS COVERED 26
2.2 GEOGRAPHICAL SCOPE 27
2.3 YEARS CONSIDERED FOR THE STUDY 28
2.4 CURRENCY AND PRICING 28
2.5 DBMR TRIPOD DATA VALIDATION MODEL 29
2.6 ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET: DATA TRIANGULATION 29
2.7 ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET: DROC ANALYSIS 30
2.8 PRODUCT LIFE LINE CURVE 32
2.9 MULTIVARIATE MODELING 33
2.10 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 34
2.11 DBMR MARKET POSITION GRID 35
2.12 MARKET END-USE COVERAGE GRID 36
2.13 DBMR MARKET CHALLENGE MATRIX 37
2.14 DBMR VENDOR SHARE ANALYSIS 38
2.15 IMPORT-EXPORT DATA 39
2.16 SECONDARY SOURCES 40
2.17 ASSUMPTIONS 41
3 EXECUTIVE SUMMARY 42
4 PREMIUM INSIGHTS 45
5 MARKET OVERVIEW 46
5.1 DRIVERS 48
5.1.1 SIGNIFICANT DEMAND FOR PAG IN AUTOMOTIVE INDUSTRY 48
5.1.2 RISING TECHNOLOGICAL ADVANCEMENTS AND MODERNIZATION IN PRODUCTION TECHNIQUES 48
5.1.3 CONSIDERABLE INCREASE IN CONSTRUCTION ACTIVITIES AND INFRASTRUCTURAL DEVELOPMENT ACROSS GLOBE 49
5.1.4 GROWING USE IN FOOD-GRADE PRODUCTS 50
5.2 RESTRAINTS 51
5.2.1 RISE IN COST OF SYNTHETIC FIBERS 51
5.2.2 VOLATILITY IN CRUDE OIL PRICES 51
5.3 OPPORTUNITIES 54
5.3.1 INCREASING USE OF BIO-DEGRADABLE PAG OILS 54
5.3.2 GROWING RESEARCH AND DEVELOPMENT ACTIVITIES 54
5.4 CHALLENGES 55
5.4.1 PRESENCE OF SUBSTITUTES IN MARKET 55
5.4.2 HIGH COST COMPARED TO CONVENTIONAL MINERAL OILS 56
6 IMPACT OF COVID-19 IMPACT ON THE ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET 57
6.1 ANALYSIS ON IMPACT OF COVID-19 ON THE ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET 57
6.2 AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVES TO BOOST THE ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET 57
6.3 STRATEGIC DECISIONS BY MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE 58
6.4 PRICE IMPACT 59
6.5 IMPACT ON DEMAND 59
6.6 IMPACT ON SUPPLY CHAIN 60
6.7 CONCLUSION 60
7 ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET, BY PRODUCT 61
7.1 OVERVIEW 62
7.2 CONVENTIONAL (WATER INSOLUBLE) 63
7.3 WATER SOLUBLE 64
8 ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET, BY APPLICATION 66
8.1 OVERVIEW 67
8.2 COMPRESSOR OIL 68
8.3 HYDRAULIC OIL 69
8.4 METAL WORKING FLUIDS 69
8.5 GEAR OIL 70
8.6 GREASES 71
8.7 OTHERS 71
9 ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET, BY END-USE 73
9.1 OVERVIEW 74
9.2 AUTOMOTIVE 75
9.3 TOOLING & INDUSTRIAL EQUIPMENT 76
9.4 MARINE 76
9.5 AEROSPACE 77
9.6 HVAC & REFRIGERATION 77
9.7 OTHERS 78
10 ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET, BY REGION 79
10.1 ASIA-PACIFIC 80
10.1.1 CHINA 87
10.1.2 INDIA 89
10.1.3 JAPAN 91
10.1.4 MALAYSIA 93
10.1.5 THAILAND 95
10.1.6 AUSTRALIA & NEW ZEALAND 97
10.1.7 SOUTH KOREA 99
10.1.8 INDONESIA 101
10.1.9 HONG KONG 103
10.1.10 SINGAPORE 105
10.1.11 TAIWAN 107
10.1.12 PHILIPPINES 109
10.1.13 REST OF ASIA-PACIFIC 111
11 ASIA PACIFIC POLYALKYLENE GLYCOL (PAG) BASE OIL MARKET: COMPANY LANDSCAPE 112
11.1 COMPANY SHARE ANALYSIS: ASIA PACIFIC 112
11.2 MERGERS & ACQUISITIONS 113
11.3 EXPANSIONS 115
11.4 NEW PRODUCT DEVELOPMENTS 116
12 SWOT ANALYSIS 117
13 COMPANY PROFILE 118
13.1 PHILLIPS 66 COMPANY 118
13.1.1 COMPANY SNAPSHOT 118
13.1.2 REVENUE ANALYSIS 118
13.1.3 PRODUCT PORTFOLIO 119
13.1.4 RECENT UPDATES 120
13.2 EXXON MOBIL CORPORATION 121
13.2.1 COMPANY SNAPSHOT 121
13.2.2 REVENUE ANALYSIS 121
13.2.3 PRODUCT PORTFOLIO 122
13.2.4 RECENT UPDATES 123
13.3 TOTALENERGIES 124
13.3.1 COMPANY SNAPSHOT 124
13.3.2 REVENUE ANALYSIS 124
13.3.3 PRODUCT PORTFOLIO 125
13.3.4 RECENT UPDATES 126
13.4 ROYAL DUTCH SHELL PLC 127
13.4.1 COMPANY SNAPSHOT 127
13.4.2 REVENUE ANALYSIS 127
13.4.3 PRODUCT PORTFOLIO 128
13.4.4 RECENT UPDATES 129
13.5 DENSO CORPORATION 130
13.5.1 COMPANY SNAPSHOT 130
13.5.2 REVENUE ANALYSIS 130
13.5.3 PRODUCT PORTFOLIO 131
13.5.4 RECENT UPDATES 132
13.6 BASF SE 133
13.6.1 COMPANY SNAPSHOT 133
13.6.2 REVENUE ANALYSIS 133
13.6.3 PRODUCT PORTFOLIO 134
13.6.4 RECENT UPDATES 135
13.7 CHEVRON CORPORATION 136
13.7.1 COMPANY SNAPSHOT 136
13.7.2 REVENUE ANALYSIS 136
13.7.3 PRODUCT PORTFOLIO 137
13.7.4 RECENT UPDATES 137
13.8 CRODA INTERNATIONAL PLC 138
13.8.1 COMPANY SNAPSHOT 138
13.8.2 REVENUE ANALYSIS 138
13.8.3 PRODUCT PORTFOLIO 139
13.8.4 RECENT UPDATES 140
13.9 ENI OIL PRODUCTS 141
13.9.1 COMPANY SNAPSHOT 141
13.9.2 REVENUE ANALYSIS 141
13.9.3 PRODUCT PORTFOLIO 142
13.9.4 RECENT UPDATES 143
13.10 FUCHS 144
13.10.1 COMPANY SNAPSHOT 144
13.10.2 REVENUE ANALYSIS 144
13.10.3 PRODUCT PORTFOLIO 145
13.10.4 RECENT UPDATES 146
13.11 HANNONG CHEMICALS INC. 147
13.11.1 COMPANY SNAPSHOT 147
13.11.2 PRODUCT PORTFOLIO 147
13.11.3 RECENT UPDATE 148
13.12 HORNETT BROS & CO LTD. 149
13.12.1 COMPANY SNAPSHOT 149
13.12.2 PRODUCT PORTFOLIO 150
13.12.3 RECENT UPDATE 150
13.13 IDEMITSU KOSAN CO., LTD. 151
13.13.1 COMPANY SNAPSHOT 151
13.13.2 REVENUE ANALYSIS 151
13.13.3 PRODUCT PORTFOLIO 152
13.13.4 RECENT UPDATES 153
13.14 LIQUI MOLY GMBH 154
13.14.1 COMPANY SNAPSHOT 154
13.14.2 PRODUCT PORTFOLIO 154
13.14.3 RECENT UPDATES 155
13.15 MORRIS LUBRICANTS 156
13.15.1 COMPANY SNAPSHOT 156
13.15.2 PRODUCT PORTFOLIO 156
13.15.3 RECENT UPDATES 157
13.16 PETRONAS LUBRICANTS INTERNATIONAL 158
13.16.1 COMPANY SNAPSHOT 158
13.16.2 PRODUCT PORTFOLIO 158
13.16.3 RECENT UPDATES 159
13.17 ULTRACHEM INC. 160
13.17.1 COMPANY SNAPSHOT 160
13.17.2 PRODUCT PORTFOLIO 161
13.17.3 RECENT UPDATES 162
14 QUESTIONNAIRE 163
15 RELATED REPORTS 166