3-June-2019: The global compressor oil market size is
estimated to reach USD 5.59 billion by 2025, according to a new report by Grand
View Research, Inc., progressing at a CAGR of 5.1% during the forecast period.
Growing industrial sector in the Middle East and Asia Pacific is anticipated to
drive the demand for compressor oils over the forecast period.
Manufacturers have to comply
with regulations and guidelines regarding disposal of industrial compressor
oils. Surging demand for bio-based products owing to rising environmental
concerns are projected to play a vital role in market expansion. However, high
costs associated with production of bio-based product type are poised to remain
a key challenge for market participants.
Bio-based compressor oils have
significantly shown an increase in terms of market share. Croda International
Plc aims at competing with major synthetic lubricant manufacturers by
introducing bio-based lubricants. In 2014, the U.S Department of Agriculture
approved four Bio-based lubricants of Croda. The bio content in each of the
products varies from 70.0% to 90.0%.
Compressor oils are largely
used for industrial applications and companies follow the franchise model for
establishing good distribution and sales network. These manufacturing companies
are realizing the need to concentrate on core competencies by either
outsourcing their retail distribution or establishing a subsidiary company.
Compressor oils are capable of
performing several functions owing to their anti-wear performance, copper corrosion
resistance, foam resistance, rust protection, hydrolytic stability, and
oxidation stability properties. In order to achieve a particular performance
parameter, compressor oil manufacturers have to invest heavily for
experimentation and testing of performance of a particular chemical composition
and thus, need to invest heavily in R&D activities.
In
depth research report on Compressor Oil Market
Further
key findings from the report suggest:
· Synthetic
base oil dominated the global compressor oil market with a revenue share of
over 43.0% in 2017. Synthetic oils are preferred for compressors owing to their
molecular makeup
· Asia
Pacific is likely to observe a remarkable CAGR of 4.9% in terms of volume
during the forecast period, on account of abundant availability of raw
materials and high rate of industrialization in the region
· Large
industrial base is expected to augment the market in North America
· Some of
the key participants present in the market are Royal Dutch Shell; ExxonMobil;
Lukoil; Total S.A; Chevron Corporation; British Petroleum; The Dow Chemical;
BASF; Sinopec Limited; Sasol Limited; Fuchs Petrolub; and Croda International
Grand View Research has
segmented the global compressor oil market on the basis of compressor, base
oil, end use, and region:
Compressor
Oil Compressor Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
· Positive
Displacement Compressor
· Dynamic
Compressor
Compressor
Oil Base Oil Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
· Synthetic
· Semi-Synthetic
· Mineral
· Bio-Based
Compressor
Oil End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
· Manufacturing
· Oil
& Gas
· Power Generation
· Automotive
· Other
Industries
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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