The PAG compressor oil industry is expected to register 8.5% CAGR between 2023 and 2032 due to the rise of air compressors in the industrial sector.
Selbyville, Delaware, December 05, 2022 (GLOBE NEWSWIRE) —
PAG compressor oil market value It is expected to exceed USD 2.7 billion by 2032, according to a new report from Global Market Insights Inc.
A successful manufacturing company in Europe and North America is designed to promote the marketing concept. Compressor oil is an essential ingredient in many manufacturing industries including plastics manufacturing, automotive, manufacturing, food and beverage, chemical, and pharmaceutical. PAG compressor oil is known for its ability to reduce friction and reduce energy consumption, thus promoting cost savings for companies operating in the aforementioned verticals.
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Increased use in many industries to boost product demand in centrifugal compressors
Centrifugal compressors segment is expected to increase to more than $71 million by 2032. In centrifugal compressors, PAG oil is used as radial oil and to push the rotating parts to carry radially and lift the journal. across different industries. In addition, rising products of natural gas processing plants, power plants, chemical plants, and oil refineries will fuel the growth of the centrifugal compressors segment.
Explore leading industry insights spread across 269 pages with 385 market data tables & 19 figures and charts from the report, “PAG Compressor Oil Market Statistics By Type, End User, Industry Research Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape and Forecast, 2023 – 2032” in full with a table of contents:
https://www.gminsights.com/industry-analysis/pag-compressor-oil-market
Automotive production and sales are growing to boost the adoption of PAG compressor oil in the automotive sector
The PAG compressor oil market from the automotive sector is projected to exhibit more than 8.5% CAGR between 2023-2032. Increasing car production and sales around the world, due to the growth of disposable income in rural areas, will support the nature of the company.
Growth Drivers:
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Competent manufacturing units in North America and Europe
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High growth in the construction and infrastructure industry of Asia Pacific
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Growth in transportation sales
The entry of a large company to increase the sales process in Europe
European PAG compressor oil market size is expected to be worth more than $ 435 million by 2032. This is attributed to the expansion of the presence of various end-use services including chemical, manufacturing, mining, food and beverages. , and drive on the European continent. As these verticals expand dramatically, the demand for PAG compressor oils with improved performance and the ability to reduce maintenance time will gain significant traction in the coming years.
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Strategic efforts by behemoths to accelerate corporate expansion
Prominent companies operating in the global PAG compressor oil market are BOSS Lubricants, Philip 66 Lubricants, Idemitsu Lubricants America, AMSOIL Inc., Total Lubricants USA, Sudheimer Car Technik Vertriebs (SCT) (MANNOL), and Exxon Mobil Corporation, among others.
Sections of the table of contents (TOC):
Chapter 4 Competition Zone, 2021
4.1 Introduction
4.2 Industry market overview, by region 2022
4.3 Dashboard features
Chapter 5 Sales, By Compressor Type
5.1 Global Market by Type
5.2 Turning
5.3 translation
5.4 Centrifugal
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, US, is a global market research and consulting firm, providing syndicated and custom research reports and growth consulting services. Our business intelligence and industry research reports provide clients with penetrative insights and actionable market data designed and presented to help make strategic decisions. These comprehensive reports are developed through independent research methods and are available for important industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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