The compressor oil market size is estimated to be USD 10.1 billion in 2018 and is projected reach USD 13.2 billion by 2023, at a CAGR of 5.6% between 2018 and 2023. Compressor oils are mixtures of base oils and additives. The additives help enhance, add, or suppress unwanted properties of the base oil. They are usually produced in a liquid or semi-solid state. Compressor oils are utilized to reduce friction between moving surfaces of the compressor.
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The dynamic compressor segment accounts for the largest share of the overall compressor oil market.
On the basis of compressor type, the compressor oil market has been segmented into dynamic compressor and positive displacement compressor. Dynamic compressors deliver a large volume of air by accelerating it to high velocity with the help of rotating blades and confines the air flow to decelerate under expansion to increase pressure. Unlike positive displacement compressor, the output for dynamic compressor fluctuates with the speed of rotating blades as there is nothing that physically forces the air out of the compressor.
Chemical & petrochemical is projected to be the fastest-growing end-use industry of compressor oil market during the forecast period.
On the basis of end-use industry, the compressor oil market has been segmented into general manufacturing, construction, oil & gas, mining, chemical & petrochemical, power generation, and others. The chemical & petrochemical is estimated to be the fastest-growing end-use industry of compressor oil, in terms of volume, during the forecast period. The demand for compressor oil in the industry is expected to increase as a result of increasing chemical manufacturing capacities across the globe.
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Technological Advancements
There are several industries such as pharmaceutical, healthcare, food & beverages, textile, and electronics where manufacturers cannot afford the risk of contamination. High quality and extremely clean air are required in such industries. A single drop of oil can cause product spoilage.
Growing demand for high quality compressor oil
Modern compressors are expected to operate in the most severe conditions, carrying greater loads and offering higher performance. Owing to the extended durability & shelf life and improved performance of the machinery & equipment, consumers demand high-quality lubricants that can sustain under extreme temperature and pressure.
Increasing application of compressors, and hence, compressor oil in the manufacturing sector is estimated to stimulate market demand.The global Compressor Oil Market is expected to reach USD 14.74 Billion by 2026, according to a new report by Reports and Data.
The thermal stability and oxidation resistance of this oil aids in maintaining cleaner compressors, thus permitting more extended running periods between scheduled maintenance and oil changes.Market Size – USD 10.02 billion in 2018, Market Growth - CAGR of 4.9%, Market Trends – Increasing demand for bio-based productsThe increasing application of compressors, and hence, compressor oil in the manufacturing sector is estimated to stimulate market demand in the forecast period.
The rapid growth of industrialization and positive economic trends across the globe, especially in the Asia Pacific region will escalate the manufacturing activities in the upcoming years.
Currently, China leads the global manufacturing output owing to supportive government policies, foreign investments and easy availability of cheap labor.To get a sample PDF copy of the report, visit @ https://www.reportsanddata.com/sample-enquiry-form/1771To gain a deeper understanding of the Compressor Oil market, the report further provides an exhaustive analysis of the competitive landscape, including profiling of the competitors, revenue, % revenue market share, and technological and product advancements.
The report also sheds light on the government policies and their amendments related to the Compressor Oil market.Key Manufacturers of the Compressor Oil Market Studied in the Report are:Royal Dutch Shell PLC,ExxonMobil PLC,British Petroleum PLC,Chevron Corporation,BASF SE,Sasol Limited,Croda International PLC,The Dow Chemical Co.,Total SA,and Sinopec Corp.,among others.Furthermore, the report focuses on the segmentation of the global Compressor Oil market based on types and applications.Compressor Oil Market Segmentation based on Product Types:Positive Displacement TypeReciprocating TypeRotary Screw TypeOthersRoto-Dynamic TypeRadial Flow TypeAxial Flow TypeCompressor Oil Market Segmentation based on Base Oil Type:Synthetic OilMineral OilBio-Based OilRegional Analysis of the Compressor Oil Market Includes:North America (U.S., Canada)Europe (U.K., Italy, Germany, France, Rest of EU)Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)Latin America (Chile, Brazil, Argentina, Rest of Latin America)Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)To Get This Report at a Lucrative Price, Click @ https://www.reportsanddata.com/discount-enquiry-form/1771Table Of Contents:Chapter 1.
Competitive Metric Space Analysis 4.8.
