The latest report by IMARC Group, titled “Compressor Oil Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the compressor oil market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global compressor oil market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.05% during 2023-2028. 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.
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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.
Competitive Landscape with Key Players:
- 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
Key Market Segmentation:
- Positive Displacement Compressor
- Dynamic Compressor
- Synthetic Oil
- Mineral Oil
- Semi-Synthetic Oil
- Bio-Based Oil
- Gas Compressor
- Air Compressor
- General Manufacturing
- Oil and Gas
- Chemical and Petrochemical
- Power Generation
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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