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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Growth Prospects: Specialty Polystyrene Resin (SPR) Market Predicted to Exceed US$ 195 Million by 2034

The global specialty polystyrene resin market value is expected to rise from US$ 135 million in 2024 to US$ 195 million by 2034. This estimated growth is expected to be driven by a consistent CAGR of 3.70% in the specialty polystyrene resin industry over the next decade.
Surging demand for ready-to-cook and packaged food products in the packaging industry is creating the demand for specialty polystyrene resins. Inflating purchasing power and increasing demand for hygienic and packaged food are some common factors that are raising the sales of specialty polystyrene resins.
The versatility and durability of specialty polystyrene resins make them useful in applications like safe packaging and food service. Further, there is a substantial surge in the demand in the healthcare market for specialty polystyrene resin owing to a spike in demand for medical laboratories, medical devices, pharmaceutical products, and packaging of essential medicines owing to population growth.
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