Engine Fogging Oil Market: Introduction
Engine fogging oil is an anti-corrosion spray articulated to efficiently protect piston rings, cylinder walls, and other internal surfaces of engines against corrosion and rust during storage. Fluctuation in temperature can form condensate within the engine components during a period of inactivity or storage. When this condensate comes in contact with components, it can cause surface corrosion. Thus, to avoid this, engine fogging oil is used. Engine fogging oil is compatible with all two-stroke and four-stroke engines operated infrequently or stored for a long period of time. Engine fogging oil is used by various end-use industries including automotive, industrial, marine, power generation, etc.
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Engine Fogging Oil Market: Market Dynamics
Engine Fogging Oil Market: Drivers
Engine fogging oil generally extends the life of the engine and reduces its maintenance cost. This is anticipated to be a prominent factor driving the growth of the global engine fogging oil market over the forecast period. Moreover, with improvements in material and technology used for engine manufacturing, the average operational age of engine has increased substantially. Thus, this will upsurge the demand for engine fogging oil in the coming decade. Engine fogging oil ensures moisture displacement during storage, can be used on all internal combustion engines including two-stroke engines and four-stroke engines, and protects against dry start after storage. These features will also give traction to the growth of the engine fogging oil market over the forecast period.
Engine Fogging Oil Market: Restraints
Engine fogging oil is an extremely flammable aerosol, contains gas under pressure and may explode if heated. This is anticipated to act as a factor restraining the growth of the engine fogging oil market over the forecast period.
Engine Fogging Oil Market: Trends
A significant trend anticipated five years down the line is that market players are focused on maintaining a long-term partnership with the end user to increase sales. Moreover, the manufacturers are focused on expanding their presence in the emerging economies to expand consumer base and increase market share in the global market.
Engine Fogging Oil Market: Segmentation
The global engine fogging oil market can be segmented on the basis of application and end-use industry.
On the basis of application, the global engine fogging oil market can be segmented as:
- Cars & Trucks
- Personal Watercraft
- Inboard Marine Engines
- Outboard Motors
- Powered Construction Equipment
- Others (lawn equipment, personal watercraft, etc.)
On the basis of end-use industry, the global engine fogging oil market can be segmented as:
- Power Generation
Engine Fogging Oil Market: Regional Outlook
The global engine fogging oil market is reliant on the demand from end-use industries across geographies. Over the forecast period, there has been a noteworthy growth in demand for engine fogging oil, especially in North America. North America is anticipated to account a considerable share of the global engine fogging oil market owing to an upsurge in demand in the region. Europe is expected to grow at a substantial CAGR during the forecast period, owing to a surge in the demand for engine fogging oil in the developing industrial sectors. The market in Latin America is projected to grow at a significant CAGR over the forecast period due to the rapid industrialization in the region. Some of the countries in Latin America are expected to experience growth in their economies.
Engine Fogging Oil Market: Market Participants
Examples of few of the key players identified across the value chain of the global engine fogging oil market include AMSOIL INC., Barnagarwala Group, CRC Industries, Inc., Kleen-Flo Tumbler Industries Limited, Menard, Inc., Motul, Ravensberger Schmierstoffvertrieb GmbH, Shrader Canada & Titan Chemicals, and Star brite, Inc., among others.
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