Compressor Oil Market, By Compressor Type (Positive Displacement, Dynamic), By Base Oil Type (Synthe

Published Date: | Report Code : CH2058824

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The Global Compressor Oil Market is projected to reach USD 18.46 billion by 2028, growing at a CAGR of 4.3% during the forecast period.

Compressor Oil Market

Compressor Oil Market

Compressor oils are specially formulated fluids that provide lubrication to the moving metal parts of the air compressor. The type of oil to be used depends upon the demand of the compressor and the gas to be compressed. Compressor oils avail various applications like performance improvement, protective surface film to decrease friction, serves as a sealing fluid, minimizes the deposition of harmful compounds, absorb the heat of compression as direct contact coolant, and others. The use of compressor oils provide different advantages such as high film strength, reduces energy consumption, longer oil life, corrosion resistance, synthetic solvency, and others.

Robust industrial development operations in emerging nations have increased demand across the globe for different compressors. Subsequently, this has pushed the development of compressor oils in a favorable direction as they are used to provide resistance to wear, tear, oxidation and to regulate the production of varnish/carbon. The industry's growing reliance on compressed air for controlling tools, offering breathable air in the plant, as well as in various manufacturing procedures such as painting, sandblasting, etc. will increase the demand for compressors and thus the market for compressor oil. Substantial growth in the mining, construction and infrastructure sectors is also a major factor giving the compressor oil market a boost. Applications such as vertical drilling, rock bolting, anchoring, soil nails, shotcreting, grouting, etc. use the product in multiple portable compressors. The use of compressor oil is essential in such rough settings for the smooth operation of these machines. Compressor oils mainly consist of oil derivatives that are vulnerable to price changes. This volatility presents producers with difficulties in maintaining steady profit margins. This factor will in the near future hamper the growth rate of compressor oil market.

Compressor Oil Market

Compressor Oil Market

On the basis of base oil, the synthetic oil segment is expected to lead the compressor oil market during the forecast period, in terms of value. The greater demand for synthetic oil is primarily due to its high efficiency under extreme circumstances, elevated drain interval, improved viscosity index, greater shear stability, and chemical strength. The mineral oil segment of the compressor oil market is expected to witness the highest growth rate over the forecast timeframe. These oils are used in applications where air contamination and acid gases are excessive that can accumulate in fluid and trigger corrosion in compressors. Mineral compressor oils offer great resistance to oxidation.

Based on compressor type, the compressor oil market has been segmented into a dynamic compressor and positive displacement compressor. Dynamic compressors deliver a large volume of air by accelerating it to high velocity with the help of rotating blades and confine the air flow to decelerate under expansion to increase pressure. Unlike positive displacement compressor, the output for dynamic compressor fluctuates with the speed of rotating blades as there is nothing that physically forces the air out of the compressor.

Considering the end-use segment, the compressor oil market is segmented into power generation, general manufacturing, oil and gas, automotive, and others. The general manufacturing sector is anticipated to hold the largest market share in the upcoming years. This sector includes numerous industries, such as metal production, transportation equipment, commercial machinery, rubber and plastic, and food and beverage, among others. Compressor oils are used by these industries for product manufacturing, as they offer smooth functioning of equipment. The rapidly evolving manufacturing sector of emerging economies is likely to drive the compressor oil market in the future.

By region, Asia Pacific held the major market share in 2018 and is anticipated to dominate the global compressor oil market in the upcoming years. This regional growth can be attributed to the presence of a large number of manufacturing and construction industries in Japan, India, China, and South Korea. Foreign and domestic investments in key industries, such as automotive, energy, manufacturing, and construction have been consistently rising since the last few years in this region. Furthermore, the rise in vehicle fleet results in escalating demand for automobiles. Therefore, the constant growth in the automotive industries in this region is also boosting the region’s compressor oil market.

Key Factors Impacting the Growth of Compressor Oil Market:
    • Growth in the industrial sector worldwide is driving the growth of this market.
    • Increasing demand for screw compressor among population is driving the growth of this market.
    • Substantial growth in the mining, construction and infrastructure sectors
    • Increase in the demand for the oil free compressor
    • High production cost

Key Developments in the Compressor Oil Market:
• In August 2016, Fuchs Group (Germany) acquired Ultrachem Inc. (US), a lubricants manufacturer well-known for synthetic lubricants for compressor for more than 40 years.
• In August 2018, Atlas Copco (Sweden) announced the launch of their Atlas Copco’s smart AIR solutions portfolio whose aim is to reduce the energy consumption and ease of installation and service. They are very suitable for mining industry, power plants and metal processing.
• In October 2018, ELGi Equipments (India) announced the launch of its new range of oil- free air compressors at Chicago which will have no oil in the compressor chamber. The main aim is to keep the air and environment clean. They are very suitable for the food &beverage and pharmaceutical industry.

What Does This Report Provide? 
This report provides a detailed understanding of the global compressor oil market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the compressor oil market.

Market Segmentation:
By Compressor Type:
    • Positive Displacement
    • Dynamic

By Base Oil Type:
    • Synthetic
    • Semi-Synthetic
    • Mineral
    • Bio-Based

By Application:
    • Gas Compressor
    • Air Compressor

By End User:
    • General Manufacturing
    • Construction
    • Oil & Gas
    • Mining
    • Chemical & Petrochemical
    • Power Generation
    • Automotive
    • Others

By Region:
    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By Compressor Type
        ◦ By Base Oil Type
        ◦ By Application
        ◦ By End User
    • Western Europe:
        ◦ By Country (Germany, UK, France, Spain, Rest of Western Europe)
        ◦ By Compressor Type
        ◦ By Base Oil Type
        ◦ By Application
        ◦ By End User
    • Eastern Europe:
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe)
        ◦ By Compressor Type
        ◦ By Base Oil Type
        ◦ By Application
        ◦ By End User
    • Asia Pacific
        ◦ By Country (China, Japan, India, Rest of Asia Pacific)
        ◦ By Compressor Type
        ◦ By Base Oil Type
        ◦ By Application
        ◦ By End User
    • Middle East:
        ◦ By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
        ◦ By Compressor Type
        ◦ By Base Oil Type
        ◦ By Application
        ◦ By End User
    • Rest of the World
        ◦ By Region (Latin America, Brazil, Rest of the World)
        ◦ By Compressor Type
        ◦ By Base Oil Type
        ◦ By Application
        ◦ By End User

Companies Covered: 
Major Companies profiled in the report which are key players in the global compressor oil market include Ingersoll Rand, Total S.A., Gardner Denver, Fuchs Group, Atlas Copco, Exxon Mobil Corporation, Chevron Corporation, Sasol Limited, The Dow Chemical Company, British Petroleum, BASF SE, Indian Oil Corporation, Royal Dutch Shell,China Petrochemical Corporation., LUKOIL, FUCHS, Idemitsu Kosan Co. Ltd., Petroliam Nasional Berhad, Croda International Plc, Phillips 66 Company, Calumet Branded Products LLC, Morris Lubricants, Penrite Oil, Valvoline LLC, LIQUI MOLY GmbH, Bharat Petroleum Corporation Limited, Amalie Oil Company.

Years Considered In The Study

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR % (2019-2028)

4.3%

Reasons to Buy This Report:
    • Market size estimation of the global compressor oil market on a regional and global basis.
    • Unique research design for market size estimation and forecast.
    • Profiling of major companies operating in the compressor oil market with key developments.
    • Broad scope to cover all the possible segments helping every stakeholder in the market.

Customization:
We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country

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