Compressor Oil Market Growth Rate 2021, Price Trends Analysis, Leading Manufacturers Share and Forecast Till 2026
Compressor Oil Market
A compressor oil refers to a form of lubricant that is required to cool, seal or grease internal components of air conditioning and refrigeration systems. It is a mixture of refined paraffinic base oils and high-performance additives that are used to ensure the continuous operational flow of distinctive machinery. It is generally produced in a semi-solid, liquid or viscous state and helps in increasing efficiency, preventing friction and heat dissipation, regulating energy consumption, and reducing wear and tear. In recent years, it has gained traction across the globe with its growing usage in heating, ventilation, and air conditioning (HVAC) systems, and cold chain logistics facilities.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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Global Compressor Oil Market Trends:
Compressor oil offers excellent wear and tear protection, rust and corrosion resistance, and water separation and foam control. Besides this, it also reduces carbon residue by providing oxidation stability, thereby curbing the additional maintenance costs for the users. Owing to these benefits, compressor oil finds applications across various industry verticals ranging from oil and gas, construction, automobile to chemical and petrochemical, and general manufacturing industries. Besides this, rapid industrialization has accelerated the development of gas compressor stations along the transportation pipelines for compressing the gas at a regulated pressure. This has increased the number of gas pipeline projects, which in turn is boosting the demand for compressor oil. Apart from this, with the ongoing refurbishment activities in several industries, there has been a rapid increase in the installation of advanced machinery, which has further escalated the demand for compressor lubricants. Moreover, the rising environmental concerns have prompted manufacturers to introduce environment-friendly compressor lubricants made using natural ingredients such as sunflower oil and rapeseed oil.
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Competitive Landscape with Key Player:
Royal Dutch Shell PLC
ExxonMobil Corporation
BP International Limited
Chevron Corporation
Total S.A.
Sinopec Group
The PJSC Lukoil Oil Company
Indian Oil Corporation Ltd.
The Fuchs Group
Idemitsu Kosan Co. Ltd
Petroliam Nasional Berhad (Petronas)
DuPont de Nemours, Inc. (DuPont)
Croda International PLC.Sasol Limited
The Phillips 66 Company
Bel-Ray Company LLC.
Morris Lubricants Limited
Penrite Oil Company.
Market Breakup by Compressor Type:
Positive Displacement Compressor
Dynamic Compressor
Market Breakup by Base Oil:
Synthetic Oil
Mineral Oil
Semi-Synthetic Oil
Bio-Based Oil
Market Breakup by Application:
Gas Compressor
Air Compressor
Market Breakup by End Use Industry:
General Manufacturing
Construction
Oil and Gas
Mining
Chemical and Petrochemical
Power Generation
Others
Market Breakup by Region
Asia Pacific
Europe
North America
Middle East and Africa
Latin America.
Key Highlights of the Report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
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