Global Poly Alpha Olefin (PAO) Market Anticipated to Reach USD 1.58 billion by 2025
Global Poly Alpha Olefin (PAO) Market size is anticipated to reach USD 1.58 billion by 2025. Poly alpha olefin (PAO) is a synthetic chemical compound derived by polymerizing an alpha-olefin. It is manufactured by the catalytic polymerization of linear alpha olefins. The factors that propel the growth of the poly alpha olefin industry include increasing demand for automotive and low viscosity base oils, improvement in the financial conditions of the population in the emerging economies and increasing demand for modern manufacturing equipment. Moreover, factors like ease in handling and rising benefits of the product are likely to contribute greatly to the market growth. On the other hand, there are factors that may hamper the growth of the market including high cost of raw material and labor. Poly alpha olefin (PAO) market is anticipated to expand at a significant CAGR of 3.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe. ...