Compressor Oil Market worth $13.2 billion by 2023 | Key Players include Royal Dutch Shell PLC, ExxonMobil Corporation, British Petroleum Plc, Chevron Corporation, Total SA, Sinopec Limited, Lukoil, Indian Oil Corporation Ltd., Fuchs Group, and Idemitsu Ko

According to recent market research "Compressor Oil Market by Base oil (Synthetic, Mineral, Semi-Synthetic, and Bio-based), Compressor Type (Dynamic, Positive Displacement), Application (Gas, Air), End-Use Industry (General Manufacturing, Construction, Oil & Gas) - Global Forecast to 2023", The compressor oil market is projected to reach USD 13.2 billion by 2023, at a CAGR of 5.6% from USD 10.1 billion in 2018. Compressor oils are widely used in the manufacturing sector such as transportation equipment manufacturing, metal production, commercial machinery manufacturing, food & beverage, and rubber & plastic industries. Hence, the rapid growth in these industries is expected to contribute to the growth of the compressor oil market. Additionally, the growth in other industries such as construction, oil & gas, power generation, mining, and chemical & petrochemical is expected to fuel the compressor oil market.

Browse 110 market data Tables and 59 Figures spread through 157 Pages and in-depth TOC on "Compressor Oil Market - Global Forecast to 2023"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/compressor-oil-market-193873333.html

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. In addition, compressor oils also help reduce wear and tear of machinery and prevent overheating and corrosion, which increases the efficiency of the machine.

Zinc is one of the key additives used as an anti-wear agent in compressor oils; however, it is harmful to the environment as it is toxic and non-biodegradable. The Environmental Protection Agency (EPA) in Australia, New Zealand, the UK, and the US enforces regulations to ensure that industries pre-treat used lubricants before releasing it into the environment, which is an expensive process. The development of zinc-free compressor oil in various industries will help reduce the cost involved in the pre-treatment of wastes. Players in the market can use zinc-free compressor oil to comply with environmental regulations and avoid the expensive process of pre-treatment before releasing.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=193873333

The compressor oil market size is estimated to be USD 10.1 billion in 2018 and is projected to reach USD 13.2 billion by 2023, at a CAGR of 5.6% between 2018 and 2023. Industrial growth in growing regions such as APAC and the Middle East & Africa coupled with rising automation in various end-use industries is expected to drive the demand for compressor oil during the forecast period. However, technological advancements and oil rejuvenation act as restraining factors for growth of the compressor oil market.

The key players in this market are Royal Dutch Shell PLC (The Netherlands), ExxonMobil Corporation (US), British Petroleum Plc ((UK), Chevron Corporation (US), Total SA (France), Sinopec Limited (China), Lukoil (Russia), Indian Oil Corporation Ltd. (India), Fuchs Group (Germany), and Idemitsu Kosan Co. Ltd. (Japan). These players have adopted various growth strategies to expand their presence and increase their shares in the compressor oil market. For instance, Fuchs Group acquired Ultrachem Inc. a-US based lubricants manufacturer. Ultrachem Inc. is a well-known producer of synthetic lubricants for compressor for over 40 years.

Get FREE 10% Customization @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=193873333

ExxonMobil Corporation is one of the largest market players and the second-largest publicly traded company, in terms of market capitalization. The company markets its products globally under the brands—Exxon, Mobil, and Esso. The company focuses on new product launch as the key strategy. ExxonMobil Corporation introduced new compressor oil called Mobil SHC Rarus, mainly for rotary screw and vane compressed air systems. This is a synthetic-based compressor oil, which provides protection against wear, rust, and corrosion.

Fuchs Group is one of the largest manufacturers of lubricants. The company offers a wide range of products such as automotive lubricants, industrial lubricants, lubricating greases, metal processing lubricants, and special application lubricants. It is another major player in the compressor oil market. The company is focusing on acquisition as the key strategy to strengthen its position in the market. For instance, the company acquired Ultrachem Inc. a US-based lubricants manufacturer known for producing synthetic lubricants for compressor for over 40 years.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/compressor-oil-market.asp

This release was published on openPR.