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Compressor Oil Market Research Report - Global Forecast till 2030

Compressor Oil Market: Information by Compressor Types (Reciprocating, Sliding vane, Centrifugal, Screw), Base Oil (Synthetic, Semi-Synthetic, Mineral, Bio-Based), Application (Petrochemical manufacturing, Construction Hydraulics and Mining Equipment, Automotive Engines), Region—Forecast till 2030

ID: MRFR/CnM/5580-HCR | February 2021 | Region: Global | 180 pages

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Compressor Oil Market overview



According to the latest research report, from 2021 to 2027, the global
compressor oil market size is expected to rise at a healthy CAGR of 2%.

High-performance lubrication is provided in a compressor by using a combination of paraffinic oil and additions. Usually, compressors with corrosion prevention, heat resistance, and corrosion tolerance profit from it over the long run. Various base oils, like synthetic, mineral, semi-synthetic, and bio-based, are used in the production of this product. In addition, rotary compressor, screw, centrifugal, sliding vane, and rotary lobe compressors may all be lubricated by the completed product. This kind of compressor oil is used in a wide range of applications, from chemical manufacture to building hydraulics to oil and natural gas machinery to automobile engines to energy production.


According to forecasts, the need for Compressor Oil will increase dramatically in commercial processes, particularly for the lubrication of heavy equipment, tools, and other equipment. The item has the ability to provide long-term anti-wear prevention, which aids in the reduction of compressor service and the extension of compressor life span. The need for needle compressors and rotating vane compressors are increasing in many businesses, which is rising continuously for compressor oil. Screws compressors and rotating vane compressors are becoming more popular. While the market is expected to develop, the rising cost of artificial and bio-based compressors oil is expected to limit its expansion. A constraining factor in the market for this product is the emergence of oil-free compressors. The growing industries in the Middle East and Asia provide market companies with an excellent chance to roll over production capacity, which in turn raises consumer needs over the next 5 years.


This report contains all the information on the global compressor oil market analysis and its strengths. In addition, the report also includes the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global compressor oil market forecast for 2030 is also included in the report.


 Covid 19 Analysis


The coming of the new COVID-19 outbreak is predicted to substantially influence the development of the compressor oil industry in the years 2020 and 2021. The downturn in economic and trade activity is projected to be the primary source of demand constraint. The decrease in building activity, particularly in commercial areas, combined with a prolonged decline in factory output, is projected to maintain compressor oil need at a low level for the foreseeable future. In spite of this, the sector is likely to return once trading operations resume and industry-specific government rules are established by the government for various businesses.


Market Dynamic


Drivers


There is a clear relationship between the compressor oil industry and the usage of air compressors. Due to the increasing increase in industrial output, worldwide demand for lubricating compressor oil is predicted to increase as more and more businesses integrate the equipment into their manufacturing processes. Furthermore, development in lubricant composition to extend the physical life of the compressor is also believed to be a contributing element to the compressor oil market growth for the respective product.


Opportunities


Compressor oil consumption is predicted to grow as a result of the introduction of novel production processes that lower production and operating costs while maintaining high-quality standards. Demand for novel compressor techniques, which are critical to enhancing productivity, is likely to continue to rise as a result of this growth.


Restraints


Furthermore, since the oil-free compressor doesn't need additional room for oil storage, it is more cost-effective than the greased compressor because it has a more straightforward functional requirement. As a result, the growing popularity of oil-free compressors is putting a damper on the expansion of the compressor oil industry.


Challenges


Technological developments and oil regeneration, on the other side, are projected to hinder the expansion of the compressor oil market. Furthermore, in the forecast timeframe, the industry for compressor oil is expected to be challenged by a rise in prices for oil-free compressors and the high costs involved with their manufacture.


Cumulative Growth Analysis


In order to manufacture a wide range of petroleum and chemical product lines, such as detergents, lacquers, solvents, polyolefin, paints, dyes & adhesives, synthesized rubbers, fertilizers, textiles, various types and sizes of compressors are needed, as well as efficient production operation. Because of the great degree of warming variance that occurs in this industry, synthetic oils are the most often used. Given their exceptional appropriateness for such endeavors and the rising need for chemicals as a result of increased consumer goods usage, it is projected that the total compressor oil market value will continue to develop at an impressive rate.


Value Chain Analysis


According to the reports, The Global Compressor Oil Market has been categorized on the basis of compressor types, applications, base oils, and regions. The Global Compressor Oil Market has been segmented into five types of compressors that is screw compressors, reciprocating compressors, centrifugal compressors, sliding vane compressors, and rotary lobe compressors. Reciprocal compressors are the most common kind of compressor.


The Global Compressor Oil Market has been segmented into four categories depending on the base oil used: synthetic oil, mineral oil, semi-synthetic oil, and bio-based oil. In addition, the global Compressor Oil Market is segmented according to application, which includes automobile engines, power generation, petrochemical production, oil and gas machinery, building hydraulics and mining equipment, and food & beverage machines, among other things.


Segmentation Overview


The market is segmented based on compressor types, applications, base oils, and regions. As a result, the global Compressor Oil Market trends are expected to witness decent growth during the forecast period.


By Application


The application is segmented into automobile engines, power generation, petrochemical production, oil and gas machinery, building hydraulics and mining equipment, and food & beverage machine based on the application.


By end-users


The market is segmented into synthetic oil, mineral oil, semi-synthetic oil, and bio-based oil based on the propulsion types.


Global Compressor Oil Market Share, by Application, 2017 (%):


Compressor Oil Market


Regional Analysis


According to the reports, It has been determined that the Global Compressor Oil Market is segmented into five major regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. Since about 2017, Asia-Pacific has had the most significant share of this industry is anticipated to be the most dominating leading region throughout the projection period. In part, this is due to higher compressor oil consumption from automobiles, oil exploration and production (O&G), construction, mining, and chemical sectors. In addition, the businesses in this area are growing their production facilities, necessitating the purchase of sufficient production equipment to match the end-user demand. As a result, the need for Compressor Oil is increasing. India and China are indeed the two most important emerging nations and their demand is predicted to grow significantly throughout the projected timeframe of 2018-2023.


Europe and North America are the primary locations for big manufacturers. The participants in the area are intensely focused on supplying sophisticated and high-quality lubricating oil for compressor purposes, which is a highly competitive market. The United States, France, Germany, and Italy are the leading nations in terms of both manufacturing and utilization of the commodity.


Competitive landscape


New releases, acquisitions, investments, acquisitions and mergers, partnerships, agreements, and R&D are some of the tactics used by the top players in the Global Compressor Oil Market to achieve substantial market positions. Other methods include product development and improvement.


Major Key Players



  • Exxonmobil Corporation (US)

  • Sinopec Limited (China)

  • Royal Dutch Shell PLC (Netherlands)

  • BP PLC (UK)

  • Total S.A (France)

  • Chevron Corporation (US)

  • Croda International PLC (UK)

  • Fuchs Petrolub AG (Germany)

  • BASF SE (Germany)

  • Sasol Limited (South Africa)

  • Lukoil (Russia)

  • Indian Oil Corporation Ltd (India) among others


Report Overview


The following report comprises of –



  • Market overview 

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints 

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments



  • Ultrachem Inc., a lubricants producer headquartered in the United States, was bought by the Fuchs Group in August 2016. Ultrachem Inc. has been in business for even more over forty years as a well-known manufacturer of engine oils for compressors.


On the basis of base oil



  • Mineral Oil

  • Synthetic Oil


    • PAO

    • PAG

    • Esters


  • Semi-synthetic Oil

  • Bio-based Oil


On the basis of compressor type



  • Dynamic Compressor


    • Centrifugal Compressor

    • Axial Compressor


  • Positive Displacement Compressor


    •  Rotary Screw Compressor

    • Reciprocating Compressor



On the basis of application



  • Gas Compressor

  • Air Compressor


On the basis of end-use Industry



  • General Manufacturing


    • Transportation Equipment

    • Metal Production

    • Commercial Machinery

    • Food & Beverage

    • Rubber & Plastics


  • Construction

  • Oil & Gas

  • Chemical & Petrochemical

  • Mining

  • Power Generation

  • Others (Cement production, Textile, Paper, and Wood & lumber)


On the basis of region



  • North America


    • U.S.

    • Canada


  • Europe


    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Russia


  • Asia Pacific


    • China

    • India

    • Japan

    • Australia

    • Indonesia

    • Malaysia

    • South Korea


  • LATAM


    • Brazil

    • Mexico


  • MEA


    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait




Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   2030 : Substantial Value
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Types, Base Oil, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Exxonmobil Corporation (US), Sinopec Limited (China), Royal Dutch Shell PLC (Netherlands), BP PLC (UK), Total S.A (France), Chevron Corporation (US), Croda International PLC (UK), Fuchs Petrolub AG (Germany), BASF SE (Germany), Sasol Limited (South Africa), Lukoil (Russia), and Indian Oil Corporation Ltd (India)
  Key Market Opportunities   The rise in pricing of synthetic and bio-based compressor oil.
  Key Market Drivers

  • Compressor oil market can be restrained by factors like the rising price of synthetic.
  • bio-based compressor oil, and the increasing availability of the oil-free compressors.


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    Frequently Asked Questions (FAQ) :

    Industries like construction hydraulics and mining equipment, power generation, petrochemical manufacturing, automotive engines, oil & gas machinery, and food & beverage machines would ensure strong growth for the global compressor oil market.

    The global market for compressor oil would gain the most from the Asia Pacific region.

    The global compressor oil market can be restrained by factors like the rising price of synthetic and bio-based compressor oil, and the increasing availability of the oil-free compressors.

    Companies like Royal Dutch Shell PLC (Netherlands), Exxonmobil Corporation (US), Sinopec Limited (China), Total S.A (France), BP PLC (UK), Croda International PLC (UK), Fuchs Petrolub AG (Germany), Chevron Corporation (US), Sasol Limited (South Africa), Lukoil (Russia), BASF SE (Germany), and Indian Oil Corporation Ltd (India) would ensure better growth rate for the global compressor oil market.

    The players would make their moves with strategies like expansions, product launches, joint ventures, mergers & acquisitions, agreement, investments, and R&D to proceed further.