Global Synthetic Air Compressor Oil Market is estimated to be US$ 5.2 Billion by 2029 with a CAGR of 4.7% during the forecasted period
Published Date:February 2021
Global Synthetic Air Compressor Oil Market is estimated to be US$ 5.2 Billion by 2029 with a CAGR of 4.7% during the forecasted period
The global synthetic air compressor oil market accounted for US$ 3.4 billion in 2020 and is estimated to be US$ 5.2 billion by 2029 and is anticipated to register a CAGR of 4.7%. The synthetic air compressor oil is gaining traction among industry players due to its characteristics of less cost, cleaner oil with long last effects over standard oils. The rapid industrialization and increasing demand for lubrication oil for maintenance in various end-use sectors are anticipated to boost the growth of the global synthetic air compressor oil market. Moreover, the growth and development of the automotive and food & beverage industry utilizing different machine oil are expected to propel the target market growth across the globe.