Global Turbine Oil Market - China & Australia Recorded as the Fastest Growing Regions

Press Release   •   Jan 01, 2017 23:45 EST

Report Highlights

Turbine Oil is a high quality mineral oil with has an excellent capacity of water separation. It is mainly used in Power plants, gas turbine lubrication, excavators and forklifts due to properties like high corrosion and oxidation inhibition and foam suppression. The global turbine oil market is expected to grow to over 12% before the end of this decade.

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From a global perspective, total turbine oils demand is expected to be about 41.8 million metric tons, or about 13 million gallons. The growth is expected to be about 2.5% per year through 2014. The turbine oils market is fairly consolidated with top four participants accounting for 67% of the market in 2014.

Chevron among others. |
The highest volume among the products is Mineral Oils which accounted for a share of 96.8% in the years 2011-2018 and is expected to be the lead in the years 2014-2020 as well.

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Almost every lubricant has started off as just a base oil. They are usually categorized into groups. Group I to III are refined from petroleum crude oil, group IV base oils are fully synthetic oils. Group V is for all the other base oils not included in Groups I-IV. Global turbine oils encompass a large group of emollients that serve a lot of industrial and residential purposes. They are classified to various other segments, each type has unique property, specifications, requirements and is intended for a special use.

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