Polyalkylene glycol (PAG) base oil is a synthetic lubricant known for its excellent thermal stability, low volatility, and high resistance to oxidation and sludge formation. One key application is in refrigeration compressors, where PAG oils provide superior lubricity and thermal stability, ensuring efficient operation and long service life of compressor components. They are particularly suitable for systems using HFC refrigerants due to their high miscibility, which improves energy efficiency and reduces wear and tear on compressor parts. This makes PAG base oils ideal for various industrial applications, including compressors, gearboxes, and hydraulic systems, especially under extreme temperature conditions.
Global Polyalkylene Glycol (PAG) Base Oil Market is expected to reach USD 7,870,702.96 thousand by 2029 with a CAGR of 3.7% during the forecast period 2022 to 2029.
To know more, visit https://www.databridgemarketresearch.com/reports/global-pag-base-oil-market
Below are the Top Polyalkylene Glycol (PAG) Base Oil Companies with a Significant Market Share:
|
Rank
|
Company
|
Overview
|
Product Portfolio
|
Sales Geographical Coverage
|
Developments
|
|
1.
|
Phillips 66 Company
|
Phillips 66 is a diversified energy manufacturing and logistics company that produces and markets Polyalkylene Glycol (PAG) base oils through its specialty products division. Their PAG base oils are known for high performance in industrial applications, including compressors and gear systems, due to their excellent thermal stability and lubricity. The company leverages its extensive refining and distribution network to supply PAG base oils globally.
|
|
U.S., Canada, South and Central America, Middle East and Africa, and Europe
|
In March 2021, Independent Truck Repair Group (iTRG) teamed up with Phillips 66 Lubricants to offer a national oil program for their members. Through this new program, iTRG members will access special pricing, promotional materials, rebates, and enhanced education and technical support on Phillips 66 Company premium diesel products. This will bring more customers to Phillips 66 Company.
|
|
2.
|
Exxon Mobil Corporation
|
ExxonMobil is one of the world's largest publicly traded energy providers and chemical manufacturers. In the PAG base oil market, ExxonMobil offers synthetic lubricants designed for high-performance applications such as refrigeration compressors and hydraulic systems. Their PAG products are recognized for their ability to enhance energy efficiency, reduce wear and tear, and perform well in extreme temperature conditions.
|
|
U.S., Other Americas, Africa, Asia, Oceania, Australia and Europe
|
In January 2022, Exxon Mobil Corporation acquired a 49.9% stake in Biojet AS, a Norwegian biofuels company that plans to convert forestry and wood-based construction waste into lower-emissions biofuels and biofuel components. This development will bring new customers and goodwill to the company.
|
|
3.
|
TotalEnergies
|
TotalEnergies, a broad energy company, produces and markets Polyalkylene Glycol (PAG) base oils as part of its extensive portfolio of lubricants. The company's PAG base oils are used in various industrial applications, including compressors and gearboxes, known for their superior thermal stability and resistance to oxidation. TotalEnergies focuses on innovation and sustainability, ensuring its PAG products meet stringent environmental standards.
|
|
North America, South America, Middle East and Africa, Asia-Pacific, and Europe
|
In January 2022, Plastic Energy and TotalEnergies announced a new agreement to promote the development of advanced plastic recycling. Under this agreement, Plastic Energy will build a second, advanced recycling plant in Sevilla, Spain, in addition to their existing operational plant, which will transform end-of-life plastic waste into a recycled feedstock called TACOIL using Plastic Energy’s patented recycling technology.
TotalEnergies will convert this raw material into virgin-quality polymers, used for food-grade packaging. This will intensify the company’s procurement of raw materials for their production operations.
|
|
4.
|
Shell
|
Shell is a global group of energy and petrochemical companies that provides a range of lubricants, including Polyalkylene Glycol (PAG) base oils. Shell's PAG base oils are utilized in industrial machinery, such as refrigeration compressors and hydraulic systems, offering high performance, reduced maintenance costs, and improved energy efficiency. Shell leverages its global research and development capabilities to continually improve its PAG oil formulations.
|
|
Americas, Middle East and Africa, Asia-Pacific, and Europe
|
In December 2021, Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc (Shell), acquired Savion LLC (Savion), a large utility-scale solar and energy storage developer in the United States. This acquisition will bring goodwill to the company.
|
|
5.
|
DENSO CORPORATION
|
DENSO is a global leader in automotive components and systems. While they primarily focus on automotive applications, they utilize PAG base oils in their lubrication systems to ensure optimal performance and longevity of automotive components, particularly in air conditioning compressors and other critical systems.
|
|
North America, and Africa, Japan, Asia-Pacific, and Europe
|
In August 2017, The Denso Corporation launched ND-oil 12, which can be used in R134a type refrigerant systems, without needing to flush the system and remove the remaining ND-oil 8 from the A/C system. This development helped Denso Corporation to attract new customers.
|
Conclusion
In the polyalkylene glycol (PAG) base oil market, companies such as Phillips 66, Exxon Mobil, TotalEnergies, Shell, and DENSO Corporation play pivotal roles by offering advanced synthetic lubricants tailored to diverse industrial and automotive needs. These companies are at the forefront of innovation, ensuring their PAG base oils deliver high performance, thermal stability, and operational reliability. Their products are essential in applications ranging from refrigeration compressors to automotive air conditioning systems, where efficiency, durability, and environmental sustainability are critical. As the market continues to evolve, these companies are expected to lead with continued research and development, meeting the growing demand for high-quality lubrication solutions worldwide.
