Compressor Oil Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Compressor Oil Market 
Industry / Sector Trends

Compressor Oil Market size estimated at USD 6 billion in 2018 and will grow at over 2% CAGR from 2019 to 2025.

U.S. Compressor Oil Market Revenue, By End-use (USD Million)

Compressor oil is used for lubrication in various types of compressors to improve and enhance their service life. The product helps to maintain longer running periods and also provides excellent resistance to rust and corrosion to protect internal components from surface degradation. Additionally, it resists thermal degradation and oxidation to reduce deposits and coke formation in compressors. Compressor oil promotes rapid releases of foam and air, thereby protecting components from cavitation and aeration damage. It assists in the reduction of sludge formation in crankcases, coalescers, coolers and discharge lines.

The global compressor oil market will be driven by increasing applications in general manufacturing sector. Rapid industrialization and positive economy trends all over the world, especially in the Asia Pacific region will upscale the manufacturing activities in future. China leads the worldwide manufacturing output due to supportive government policies, foreign investments and availability of cheap labor. Similar trends are observed in many Asian countries which will boost the general manufacturing industry in future. Additionally, technological advancements will positively influence the manufacturing output and aforementioned trends will propel the compressor oil market over the forecast period.

Significant growth in construction sector in most of the developing nations will bolster the global compressor oil market size in future, owing to extensive usage of portable compressors for operating pneumatic drills, hammers, etc. Compressor oil improves the efficiency and productivity of these compressors along with ensuring long serviceability. Urbanization, demographic shifts, increasing consumer aspirations associated with high standards of living are bolstering the residential and commercial buildings sectors. Several regional governments are investing huge amounts for the development of infrastructure in order to improve social and economic welfare. According to Global Infrastructure Outlook, the required worldwide infrastructure investment by 2040 is estimated around USD 3.8 trillion, which will boost the infrastructure construction activities globally. This in turn will spur the market growth by 2025.

Compressor oils, like majority of the lubricants, are developed as one of the downstream petrochemical products. The petrochemical industry is highly price sensitive. Volatility in the global crude oil prices will lead to uncertainty in the product profit margins, thus creating production challenges for the market players.

Market Segmentation, Outlook & Regional Insights: Compressor Oil Market

Compressor Oil Market, By Base Oil

The compressor oil market is divided into sub-segments such as mineral oil, synthetic oil and others. Others segment consists semi-synthetic and bio-based oils. Synthetic oil captured a significant market share and accounted over 60% volume share in 2018. It is widely used in many applications as they dont contain additives or sulfur, which can cause unnecessary build-up on valves. Synthetic oil provides wider operating temperature range and longer storage stability as compared to mineral oil. Additionally, it offers less wear, high efficiency, better oxidation stability, lower volatility and better film strength than mineral oil, thereby displaying promising growth trends in future.

Compressor Oil Market, By Compressor Type

The market is categorized into reciprocating, rotary screw, centrifugal and others compressor type. The other compressors include axial, scroll, straight lobe and liquid piston. Rotary screw segment captured more than half of the global volume share in the market in 2018 owing to the high popularity of these compressors in the industrial sector along with high lubrication requirements in screws, speed gears, and radial & thrust roller bearings. Reciprocating compressors segment was worth more than USD 1.5 billion and is likely to witness a slow growth over the forecast period.

Compressor Oil Market, By End-use

Based on end-use, compressor oil market is majorly divided into construction & infrastructure, food & beverage, general manufacturing, mining, power generation, chemical. The other end-use segment comprises of minor segments such as agriculture, household, healthcare, etc. Food & beverage segment will grow at a CAGR more than 2.5% by 2025. Compressor oil is used with utmost care for many compressor applications such as food packaging and filling processes in food & beverage industry so as to prevent any undesired contamination. Manufacturers have also developed food grade compressor oils in order to minimize the negative impacts of oil contamination in the food products. The chemical segment will register a little more than USD 650 million in 2018 owing to various applications related to process air and material handling.

Compressor Oil Market, By Region

Asia Pacific region will capture majority of the global market share owing to thriving manufacturing and construction sectors. The region accounted for around 50% share in 2018 and will display favorable growth trends over the forecast period. Many leading companies are setting up manufacturing facilities in the region due to supportive government policies and easy availability of resources. Many Asian countries including China and India have established future infrastructure development plans which will accelerate the pace of the regional construction industry in near future. Such trends will increase the demand for compressors, and in turn, for compressor oil in future.

North America held more than 15% share in 2018, driven by the mature manufacturing sector. Growing petrochemical industry in the U.S. and Canada will also positively influence the compressor oil market between 2019 to 2025.

Key Players, Recent Developments & Sector Viewpoints: Compressor Oil Market

Some of the major producers in compressor oil market are Total S.A., Fuchs Group, Exxon Mobil Corporation, British Petroleum, Atlas Copco, Ingersoll Rand Inc., Gardner Denver, BASF SE, Eni S.p.A., Indian Oil Corporation Limited, China Petrochemical Corporation, Lukoil, Hindustan Petroleum Corporation Limited, The Dow Chemical Company, Sasol Limited, Chevron Corporation and others. These companies are trying to gain competitive advantage with expansion of production facilities, new product developments, and mergers and acquisitions.

Industry Viewpoint

Compressor oil industry is driven by increasing compressed air demand in construction & infrastructure, general manufacturing, mining, food & beverage and chemical industry. It provides various benefits such as excellent wear resistance, better thermal stability and good efficiency to the different air compressors used in the industry. These benefits improve the performance of compressors and reduce the risk of possible damage

Key Insights Covered: Exhaustive Compressor Oil Market

1. Market size (sales, revenue and growth rate) of Compressor Oil industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Compressor Oil industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Compressor Oil industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Compressor Oil industry.

Research Methodology: Compressor Oil Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.