Market Snapshot:
Cylinder oil is a heavy grade mineral lubricating oil. It is used for steam-engine cylinders and valves. The cylinder oil market has high growth prospects owing to increasing applications in the marine industry. Moreover, growing marine infratstrure globally and growing focus on the development of cylinder oil with excellent anti-scuffing control properties expected to drive the market demand during the forecasted period.
Highlights from Cylinder Oil Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.0% |
The key Manufacturers profiled in the report are BP plc (United Kingdom), Royal Dutch Shell plc (Netherlands), Exxon Mobil Corporation (United States), Chevron Corporation (United States), Sinopec Corporation (China), Total S.A. (France), PJSC Lukoil (Russia) and Idemitsu Kosan Co., Ltd. (Japan). Additionally, other players that are part of this comprehensive study are Quepet (United Arab Emirates) and JXTG Nippon Oil & Energy Corporation (Japan).
Geographic Breakdown and Segment Analysis
The Global Cylinder Oil market presents a comprehensive analysis of the Cylinder Oil market by product type (High-Base Number (BN), Mid-Base Number (BN) and Low-Base Number (BN)), by end-user/application (Automotive and Marine), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Cylinder Oil industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Cylinder Oil market
Analyst at AMA have segmented the market study of Global Cylinder Oil market by Type, Application and Region.
Influencing Trend:
Emphasizing On Development of Cylinder Oil with Excellent Anti-Scuffing Control Properties and Increasing Demand of Cylinder Oil for Efficient Acid Neutralization in Marine Engine
Market Growth Drivers:
Cylinder Oil Increases Combustion Efficiency of the Engines and Reduce the Risk of Engine Breakdown by Decreasing Deposit & Sludge Formation on Liners, Rings, and Piston Crowns
Restraints:
Stringent Government Regulations for Marine Industry
Opportunities:
Growing Infrastructural Developments Strengthening the Shipping Industry Globally and Rising Demand from the Developing Economies
Market Developments Activities:
In April 2021, Oil India Limited (OIL) on Tuesday said its acquisition of shares of Numaligarh Refinery Ltd (NRL) in Assam will be a synergy for mutual growth, ensure energy security of the nation, besides partially mitigating the effect of volatility of crude price cycle.
In March 2023,Castrol has announced a new marine cylinder oil Castrol Cyltech 40 XDC (eXtra Deposit Control). The product is now available across key shipping hubs in South Korea, the United Arab Emirates (UAE) and Japan, with plans to expand supply globally this year.
Market players are focusing on partnerships, collaborations, and new product launches in order to increase their offerings in the synthetic fibers market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings.
Key Target Audience
Cylinder Oil manufacturers, Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others