Global Compressor Oil Market Outlook: Ken Research
Compressor oils are the articulated fluids utilized for delivering the lubrication to the functional portions of any compressor. There are accountable for advancing the entire performance of the compressors decrease the deposition of vigorous compounds, serves as a sealant, acts as defending surface film for decreasing the friction, captivates the head introduced while compression by performing as direct contact coolant. Effective utilizing the compressor oil is advantageous as it imparts great film strength, corrosion resistance, decreases the energy depletion to greater the magnitude and suggests synthetic solvency.
According to the report analysis, ‘Global Compressor Oil Market Size study, by Compressor Type (Positive Displacement Compressor, Dynamic Compressor), Application (Air Compressor, Gas Compressor), Base-Oil (Mineral oil, Synthetic Oil, Semi-synthetic Oil, Mineral Oil), End-Use Industry (Oil & Gas, Construction, General Manufacturing, Mining, Power Generation, Chemicals & Petrochemicals, Others) and Regional Forecasts 2018-2025’ states that in the worldwide compressor oil market, there are several active players which presently operating in this market more actively for leading the fastest market growth and registering the handsome value of market share around the globe throughout the short span of time while spreading the awareness related to the applications of such, speedy industrialization around the several regions, decreasing the cost associated, and studying and analyzing the guidelines of the government includes ExxonMobil Corporation, Royal Dutch Shell Plc, Chevron Corporation, British Petroleum (BP) P.L.C, Total Sa, LUKOIL, Sinopec Limited, Idemitsu Kosan Co. Ltd, FUCHS Group, Morris Lubricants, Addinol Lube Oil GmbH and several others.
The global compressor oil market is worth approximately USD 10 billion in 2017 and is actively predicted to increase with a healthy growth rate of more than 5.8 % over the forecast period of 2018-2025. The effective growth in the growing requirement of compressor oil from several end-use industries involving oil & gas, chemicals & petrochemicals, general manufacturing is principally influencing the global compressor oil market over the review years. The speedy industrialization around the various regions has resulted in increasing end-use industries imparting growth to the market. For instance, as per U.S. Energy Information Administration, oil production of the U.S. in 2018 would reach 10.0 million barrels per day (BPD). Not only has this, but the recent technological advancement linked with oil rejuvenation techniques may also restrict the market growth during the review period.
Based on the region, the market of compressor oil is spread around the globe which majorly involves the Asia Pacific, North America, Europe, Latin America and Rest of the World. The North America region is the leading/significant region around the world in terms of market share due to the increasing requirement of compressor oil in the aerospace industry. Europe also underwrites a satisfactory growth in the worldwide compressor oil market due to augmenting the demand of several chemicals on a large scale. Asia-Pacific is also predicted to exhibit higher growth rate / CAGR over the review period of 2018-2025 owing to the growth in chemical manufacturing industries in underdeveloped countries such as India, China and Japan. Therefore, in the near years, it is anticipated that the market for compressor oil will increase around the globe over the coming years more actively.
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Ankur Gupta, Head Marketing & Communications