Boston, MA -- (SBWIRE) -- 09/10/2015 -- Compressors convert mechanical energy to pneumatic energy through compression. They use pistons, vanes, and other mechanisms to compress air and gas to very high pressures. The major types of compressors are PD and centrifugal gas compressors.

Compressor oil is used to cool, seal, or lubricate internal components of compressors. The benefits of compressor oil are listed below:

-Improves compressor performance
-Provides a protective film over metal parts to minimize friction and protect exposed parts
-Acts as a sealing fluid
-Directly absorbs the heat of compression
-Reduces maintenance costs
-Lowers formation of harmful deposits

Technavio's analysts forecast the global compressor oil market to grow at a CAGR of 5.32%, in terms of revenue, over the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "We expect the compressor oil market to grow during the forecast period, driven by the increased demand for compressor lubricants or oils. The demand for compressors is increasing because of rapid industrial growth and rising investments in the manufacturing sectors worldwide. The growing global demand for compressors is boosting growth prospects of the market. Compressors are widely used in the manufacturing, oil and gas, power, chemical, pharmaceutical, and food and beverage industries."

Get More Details on this Report and a Full Table of Contents at Global Compressor Oil Market 2015-2019

According to the report, the rise of APAC as the major market for compressor oils will likely affect the vendors in EMEA and the Americas. The presence of many manufacturing facilities has increased the demand for compressors in APAC. Continuous availability of raw materials, huge labor pool, favorable demographics, high demand, and low costs associated with manufacturing have made the major discrete and process industries to set up their manufacturing facilities in China, Japan, India, and South Korea. Vendors from the Americas and EMEA are striving to set up their production facilities in APAC to reduce their operational costs and remain competitive.

Further, the report states that the growing popularity of oil-free compressors is threatening the growth of the global compressor oil market.

The key players in the Global Compressor Oil Market are BP, Castrol, CNPC, Dow, Exxon Mobil, Ingersoll-Rand, Royal Dutch Shell and Total while other prominent vendors include AMSOIL, BASF, BP, Chevron, FUCHS, HPCL, Idemitsu Kosan, IOCL, JX Holdings, Petro-Canada, Phillips 66 Lubricants, Sinopec and Ultrachem

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