Future Market Insights has announced the addition of the “Compressor Oil Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027″ report to their offering.
Compressor oil is a lubricant used for lubrication and proper working of metal parts involved in air/gas compressors. It is designed to deliver long life service in most compressor applications. Moreover, compressor oil is used to formulate lubricants for vane-type, reciprocating, and rotary-screw compressors where compressed oil and gas are in direct contact.
This requires exceptional gas/oil separation capabilities and oxidation stability, on top of lubricating and anti-wear qualities. Compressor oil is the combination of base oil and additives where base oil is extracted from crude oil in various plants. Its performance is mainly dependent on base oil characteristics. Therefore base oil characters should encounter all performance demands, permitting formulators to create distinguished compressor lubricants that enhance performance and reduce environmental impact.
Many plants and manufacturing industries use compressed air systems where compressor oil has a wide range of applications to keep the whole operation running. Moreover to this, appropriate lubrication will ensure that the compressor will continue operating and the plant will escape costly interruption and repairs.
Also, suitable compressor oil will help compressor function cooler and consume less electrical power. Therefore for reducing energy consumption, better compressor oil should be used. Hence increasing concerns about low power consumption in many manufacturing industries is outgoing to drive the compressor oil market in the forecasted period.
Global Compressor Oil Market: Dynamics
The demand for automotive, marine and refrigeration industries are expected to show healthy growth of the global compressor oil market in the forecasted period. Moreover, refilling of the compressor oil during a maintenance period in all end-user industries is another key factor driving the compressor oil market in the near future.
The growth of compressor oil market is mainly affected by the introduction of oil-free compressors. These compressors are operated without the usage of compressor oil. Owing to the requirement of the superior quality of air for special applications.
Additionally, oil-free compressors are lightweight and are economical as compared with the conventional one and therefore affection the growth of compressor oil market. In terms of trends, the preference of bio-based oils is expected to influence the existing consumption rate of the synthetic based compressor oil market with regulations and industry norms deemed to be mandatory in the forecast period.