Why do I need an Air Dryer for my Air Compressor?

Why do I need an Air Dryer for my Air Compressor? (Refrigerated Air Dryers, + 39 Degrees) Remember, the byproduct of compressing air is water and oil (for lubricated systems). Air dryers remove/reduce the moisture, so you can supply dry air to your plant and/or process. A large percentage of users install refrigerated air dryers, these dryers are typically used in manufacturing, automotive, food/beverage and light industrial use. Why install a dryer for my compressor? What would happen if moisture