Global PAG-Based Lubricants Market Growth 2026-2032
Description
The global PAG-Based Lubricants market size is predicted to grow from US$ 2512 million in 2025 to US$ 3499 million in 2032; it is expected to grow at a CAGR of 4.8% from 2026 to 2032.
PAG-Based Lubricants are high-performance synthetic lubricants formulated with polyalkylene glycol (PAG) base oils and functional additive packages such as antioxidants, anti-wear agents, corrosion inhibitors, and defoamers. They offer a high viscosity index, excellent low-temperature fluidity, strong thermo-oxidative stability, and favorable compatibility in systems involving refrigerants, gases, and compression media, and are widely used in automotive and industrial HVAC/heat-pump compressors, refrigeration and cold-chain equipment, industrial gear and hydraulic systems, and selected high-temperature or high-cleanliness applications. Upstream raw materials primarily include EO/PO monomers, initiators and catalyst systems, additive packages, and packaging materials, while downstream customers consist of automotive OEMs and component suppliers (including EV thermal-management chains), compressor and refrigeration OEMs, industrial equipment manufacturers, lubricant brand owners and formulators, and large industrial MRO buyers. Based on major PAG base-oil supply capacity and industry operating rates, global effective capacity for PAG-based lubricants in 2025 is estimated at approximately 480 kt per year, with actual shipments of about 399 kt, an average ex-works price of roughly USD 6,430 per ton, and an industry gross margin of around 30%–40%. Ongoing growth is supported by increasing EV and heat-pump adoption, higher efficiency and reliability requirements in industrial equipment, and the evolution of refrigeration systems toward higher performance and stricter operating standards.
United States market for PAG-Based Lubricants is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.
China market for PAG-Based Lubricants is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.
Europe market for PAG-Based Lubricants is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.
Global key PAG-Based Lubricants players cover Exxon Mobil, DuPont, Dow, Idemitsu Group, BASF, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2025.
LP Information, Inc. (LPI) ' newest research report, the “PAG-Based Lubricants Industry Forecast” looks at past sales and reviews total world PAG-Based Lubricants sales in 2025, providing a comprehensive analysis by region and market sector of projected PAG-Based Lubricants sales for 2026 through 2032. With PAG-Based Lubricants sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world PAG-Based Lubricants industry.
This Insight Report provides a comprehensive analysis of the global PAG-Based Lubricants landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on PAG-Based Lubricants portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global PAG-Based Lubricants market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for PAG-Based Lubricants and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global PAG-Based Lubricants.
This report presents a comprehensive overview, market shares, and growth opportunities of PAG-Based Lubricants market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
PAG 46
PAG 68
PAG 100
PAG 150
Others
Segmentation by Water Interaction:
Water-Soluble
Water-Insensitive
Segmentation by End-use:
Compressor Oils
Gear Oils
Others
Segmentation by Application:
Industrial
Automotive
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Exxon Mobil
DuPont
Dow
Idemitsu Group
BASF
FUCHS
Shrieve
Shell
Petronas
Phillips 66 Lubricants
TecLub
Chevron
Sanyo Chemical
Triboscience & Engineering
Petro-Canada Lubricants
CITGO Lubricants
Key Questions Addressed in this Report
What is the 10-year outlook for the global PAG-Based Lubricants market?
What factors are driving PAG-Based Lubricants market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do PAG-Based Lubricants market opportunities vary by end market size?
How does PAG-Based Lubricants break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
PAG-Based Lubricants are high-performance synthetic lubricants formulated with polyalkylene glycol (PAG) base oils and functional additive packages such as antioxidants, anti-wear agents, corrosion inhibitors, and defoamers. They offer a high viscosity index, excellent low-temperature fluidity, strong thermo-oxidative stability, and favorable compatibility in systems involving refrigerants, gases, and compression media, and are widely used in automotive and industrial HVAC/heat-pump compressors, refrigeration and cold-chain equipment, industrial gear and hydraulic systems, and selected high-temperature or high-cleanliness applications. Upstream raw materials primarily include EO/PO monomers, initiators and catalyst systems, additive packages, and packaging materials, while downstream customers consist of automotive OEMs and component suppliers (including EV thermal-management chains), compressor and refrigeration OEMs, industrial equipment manufacturers, lubricant brand owners and formulators, and large industrial MRO buyers. Based on major PAG base-oil supply capacity and industry operating rates, global effective capacity for PAG-based lubricants in 2025 is estimated at approximately 480 kt per year, with actual shipments of about 399 kt, an average ex-works price of roughly USD 6,430 per ton, and an industry gross margin of around 30%–40%. Ongoing growth is supported by increasing EV and heat-pump adoption, higher efficiency and reliability requirements in industrial equipment, and the evolution of refrigeration systems toward higher performance and stricter operating standards.
United States market for PAG-Based Lubricants is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.
China market for PAG-Based Lubricants is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.
Europe market for PAG-Based Lubricants is estimated to increase from US$ million in 2025 to US$ million by 2032, at a CAGR of % from 2026 through 2032.
Global key PAG-Based Lubricants players cover Exxon Mobil, DuPont, Dow, Idemitsu Group, BASF, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2025.
LP Information, Inc. (LPI) ' newest research report, the “PAG-Based Lubricants Industry Forecast” looks at past sales and reviews total world PAG-Based Lubricants sales in 2025, providing a comprehensive analysis by region and market sector of projected PAG-Based Lubricants sales for 2026 through 2032. With PAG-Based Lubricants sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world PAG-Based Lubricants industry.
This Insight Report provides a comprehensive analysis of the global PAG-Based Lubricants landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on PAG-Based Lubricants portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global PAG-Based Lubricants market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for PAG-Based Lubricants and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global PAG-Based Lubricants.
This report presents a comprehensive overview, market shares, and growth opportunities of PAG-Based Lubricants market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
PAG 46
PAG 68
PAG 100
PAG 150
Others
Segmentation by Water Interaction:
Water-Soluble
Water-Insensitive
Segmentation by End-use:
Compressor Oils
Gear Oils
Others
Segmentation by Application:
Industrial
Automotive
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Exxon Mobil
DuPont
Dow
Idemitsu Group
BASF
FUCHS
Shrieve
Shell
Petronas
Phillips 66 Lubricants
TecLub
Chevron
Sanyo Chemical
Triboscience & Engineering
Petro-Canada Lubricants
CITGO Lubricants
Key Questions Addressed in this Report
What is the 10-year outlook for the global PAG-Based Lubricants market?
What factors are driving PAG-Based Lubricants market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do PAG-Based Lubricants market opportunities vary by end market size?
How does PAG-Based Lubricants break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
144 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for PAG-Based Lubricants by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for PAG-Based Lubricants by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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