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.