North America Polyalphaolefin Market Size, Share & Trends Analysis Report By Type (High Viscosity, Medium Viscosity, and Low Viscosity), By Application (Engine Oil, Gear Oil, Compressor Oil, Grease, and Others), By Country and Growth Forecast, 2023 - 2030
The North America Polyalphaolefin Market would witness market growth of 2.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1425.5 hundred Tonnes, showcasing a growth of 2.0% (2019-2022).
PAOs play a vital role in the marine industry, where they lubricate propulsion systems, stern tubes, and thrusters, operating in harsh marine environments characterized by high moisture, saltwater exposure, and extreme temperature differentials. Additionally, in renewable energy applications, such as wind turbines and solar panels, PAOs contribute to efficient energy generation by reducing frictional losses and ensuring optimal performance and longevity of mechanical components.
Furthermore, PAOs are used in metalworking fluids such as cutting oils, coolants, and lubricants for machining, grinding, and forming operations. They offer superior lubricity, cooling properties, chip evacuation, improving tool life, surface finish, and dimensional accuracy in metal fabrication processes across automotive, aerospace, and precision engineering industries.
The rise in renewable energy in Mexico represents a paradigm change toward a future in energy that is more robust and sustainable. As per the data released in 2023 by the International Trade Administration, Mexico aims to produce 35 percent of its electricity from clean energy sources by 2024, including power regeneration from renewable and non-renewable sources such as nuclear and efficient cogeneration. Therefore, the growing renewable energy and expansion of the region’s medical device sector are driving the market’s growth.
The US market dominated the North America Polyalphaolefin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $550.5 Million by 2030. The Canada market is experiencing a CAGR of 3.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 3.8% during (2023 - 2030).
Based on Type, the market is segmented into High Viscosity, Medium Viscosity, and Low Viscosity. Based on Application, the market is segmented into Engine Oil, Gear Oil, Compressor Oil, Grease, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Chevron Phillips Chemical Company LLC
- INEOS Group Holdings S.A. (INEOS Oligomers)
- Mitsui Chemicals, Inc.
- Exxon Mobil Corporation
- Shell plc (Shell Chemical Ltd.)
- Tulstar Products, Inc.
- Shanghai NACO Lubrication Co., Ltd
- Lubricon Industries Canada Limited
- Idemitsu Kosan Co., Ltd.
- Lanxess AG
By Type (Volume, Hundred Tonnes, USD Billion, 2019-2030)
- High Viscosity
- Medium Viscosity
- Low Viscosity
- Engine Oil
- Gear Oil
- Compressor Oil
- Grease
- Others
- Civil Engineering & Archaeology
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Polyalphaolefin Market, by Type
- 1.4.2 North America Polyalphaolefin Market, by Application
- 1.4.3 North America Polyalphaolefin Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. North America Polyalphaolefin Market by Type
- 4.1 North America High Viscosity Market by Country
- 4.2 North America Medium Viscosity Market by Country
- 4.3 North America Low Viscosity Market by Country
- Chapter 5. North America Polyalphaolefin Market by Application
- 5.1 North America Engine Oil Market by Country
- 5.2 North America Gear Oil Market by Country
- 5.3 North America Compressor Oil Market by Country
- 5.4 North America Grease Market by Country
- 5.5 North America Others Market by Country
- Chapter 6. North America Polyalphaolefin Market by Country
- 6.1 US Polyalphaolefin Market
- 6.1.1 US Polyalphaolefin Market by Type
- 6.1.2 US Polyalphaolefin Market by Application
- 6.2 Canada Polyalphaolefin Market
- 6.2.1 Canada Polyalphaolefin Market by Type
- 6.2.2 Canada Polyalphaolefin Market by Application
- 6.3 Mexico Polyalphaolefin Market
- 6.3.1 Mexico Polyalphaolefin Market by Type
- 6.3.2 Mexico Polyalphaolefin Market by Application
- 6.4 Rest of North America Polyalphaolefin Market
- 6.4.1 Rest of North America Polyalphaolefin Market by Type
- 6.4.2 Rest of North America Polyalphaolefin Market by Application
- Chapter 7. Company Profiles
- 7.1 Chevron Phillips Chemical Company LLC
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Recent strategies and developments:
- 7.1.3.1 Geographical Expansions & Business Expansion:
- 7.1.4 SWOT Analysis
- 7.2 INEOS Group Holdings S.A. (INEOS Oligomers)
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Recent strategies and developments:
- 7.2.4.1 Geographical Expansions:
- 7.2.5 SWOT Analysis
- 7.3 Mitsui Chemicals, Inc.
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expenses
- 7.3.5 SWOT Analysis
- 7.4 Exxon Mobil Corporation
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental and Regional Analysis
- 7.4.4 Research & Development Expenses
- 7.4.5 Recent strategies and developments:
- 7.4.5.1 Product Launches and Product Expansions:
- 7.4.5.2 Geographical Expansions & Business Expansion:
- 7.4.6 SWOT Analysis
- 7.5 Shell plc (Shell Chemical Ltd.)
- 7.5.1 Company Overview
- 7.5.2 Financial Analysis
- 7.5.3 Segmental and Regional Analysis
- 7.5.4 Research & Development Expenses
- 7.5.5 Recent strategies and developments:
- 7.5.5.1 Partnerships, Collaborations, and Agreements:
- 7.5.5.2 Acquisition and Mergers:
- 7.5.6 SWOT Analysis
- 7.6 Tulstar Products, Inc.
- 7.6.1 Company Overview
- 7.7 Shanghai NACO Lubrication Co., Ltd
- 7.7.1 Company Overview
- 7.8 Lubricon Industries Canada Limited
- 7.8.1 Company Overview
- 7.9 Idemitsu Kosan Co., Ltd.
- 7.9.1 Company Overview
- 7.9.2 Financial Analysis
- 7.9.3 Segmental and Regional Analysis
- 7.9.4 Research & Development Expenses
- 7.9.5 SWOT Analysis
- 7.10. Lanxess AG
- 7.10.1 Company Overview
- 7.10.2 Financial Analysis
- 7.10.3 Segmental and Regional Analysis
- 7.10.4 Research & Development Expenses
- 7.10.5 SWOT Analysis
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook