By product type, ISO VG 68 is anticipated to hold the largest share in the slideway oil
market due to growing industrial activity. They are formulated to protect high-speed,
high-pressure hydraulic motors and pumps and to form a protective layer around
hydraulic system components to protect them from rust and corrosion. ISO VG 68
shows kinematic viscosity of 68 mm2/s, which is also denoted as centistokes. This
makes it medium-range viscosity specialty base oil for group one substitute in
industrial lubricants and metal working fluids.
Asia Pacific is estimated to grow at a significant CAGR in the slideway oil market due
advancement in road and rail network. This is in accordance with steady economic
growth and increase public spending on various infrastructural projects which can
further boost industrial activity for the projected time frame. India is expected to
observe high product demand due to growing industrialization coupled with
government initiatives to make automobile industry globally competitive. Rising
demand for various industry products will have a positive impact on consumer
products and vehicle production which will propel the overall slideway oil market for
the projected period. 100 percent foreign direct investment in automobile industry and
growing industrial activity in the country will have a positive impact on the market.
Growing need for machines in various industries such as automobile, chemical,
pharmaceutical, heavy machinery, etc. will significantly boost the demand for slideway
oil. Key market players include BP, ExxonMobil, Valvoline, Chevron, Fuch, Shell,
Castrol, Sinopec. Various companies are now actively adopting joint venture, business
sell offs and technological development to strengthen their lead in the slideway oil
market.
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