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Industry Forecast: Global PAG Base Stock Market Expected to Attain US$ 4.6 Billion by 2033, Growing at 8.5% CAGR
The global PAG base stock market is expected to reach US$ 2.03 Billion and is projected to grow at a CAGR of 8.5% over the forecast period. According to the forecast, the PAG base stock industry size will reach US$ 4.6 billion over the forecast period of 2023 to 2033.
Considering the excellent properties of PAG base oil as well as the benefits that it provides, it can be predicted that the demand for PAG base oil will improve over the coming years. As well as its excellent water solubility and high viscosity index, PAG base oils are also known for their shear stability as well as its high water solubility. Moreover, the low volatility of the synthetic compounds under high temperatures as well as their resistance to the formation of deposits or residues have also allowed them to be used in a variety of applications.
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