Compressor Oil Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Compressor Oil Market Analysis
The market for compressor oil is expected to grow at a CAGR of over 4% during the forecast period. The major factor driving the demand for compressor oils is the rapidly growing demand from the manufacturing segment. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Global demand for petroleum-derived products is escalating and the production capacity is also gradually increasing. Chemical & Petrochemicals sector is one of the largest consuming industries where compressor oils find their extensive usage.
- The Asia-Pacific region is expected to be the largest consumer for the compressor oil market owing to the huge demand from countries such as China, India, and Japan.
Compressor Oil Market Trends
This section covers the major market trends shaping the Compressor Oil Market according to our research experts:
High Consumption from the Chemical & Petrochemicals Industry
- The use of compressor oils in the chemical and petrochemicals industry is to guarantee the untroubled functioning of the machine parts and also help in minimizing the expenses and increasing the lifetime of the machine.
- Furthermore, compressor oils also serve in dissipating the heat generated by the compressors during operations thus reducing the overall power consumption and also from the wear and tear of the machine.
- The global chemical market is anticipated to grow at a CAGR of 4.3% between 2020 and 2025.
- In 2019, the global chemical production rate was 1.8 % with the Asia-Pacific region accounting for the highest rate at 4% (excluding Japan).
- In 2020, global demand for the derivatives of crude oil is projected to be 112 million barrels per day. By 2025, it is forecasted to reach 106.7 million barrels per day thereby increasing demand for the lubricants.
- The market value of the global petrochemical industry is estimated to be USD 441 billion in 2019 and is expected to reach a gigantic value of USD 651.1 billion by the end of 2027.
- All the aforementioned factors are expected to drive the Compressor Oil market during the forecast period.
Asia-Pacific Region to Dominate Compressor Oil Market
- Asia-Pacific region holds the largest share in the compressor oil market globally and is expected to grow at the fastest rate over the forecast period.
- Asia-Pacific has the largest market globally for petroleum-based products and the region also has the world's largest refinery located in Jamnagar, India. Jamnagar refinery has a capacity of 1.24 million barrels per day.
- In 2020, oil demand from the Asia-Pacific region is projected to account for the largest share in the world amounting to be about 36.7 million barrels per day.
- The refining capacity of China is also on the gradual rise. For instance, a recent contract for 1 MTA ethylene and refinery expansion project of Sinochem Quanzhou Petrochemical was announced.
- Thus, rising demand from various industries coupled with government support is expected to drive the market studied in the region during the forecast period.
Compressor Oil Industry Overview
The compressor oil market is partially fragmented. Some of the players in the market include Exxon Mobil Corporation, Chevron U.S.A. Inc, Total, HP Lubricants, and Royal Dutch Shell plc.
Compressor Oil Market Leaders
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Exxon Mobil Corporation
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Chevron U.S.A. Inc
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HP Lubricants
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Royal Dutch Shell plc
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Total
*Disclaimer: Major Players sorted in no particular order
Compressor Oil Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Rapidly Growing Demand from Manufacturing Segment
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.2.2 Other Restraints
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4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Base Oil
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5.1.1 Synthetic
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5.1.2 Mineral
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5.1.3 Others
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5.2 End-user Industry
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5.2.1 Manufacturing
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5.2.2 Chemical & Petrochemical
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5.2.3 Oil & Gas
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5.2.4 Mining
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5.2.5 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 France
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5.3.3.4 Italy
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Chevron U.S.A. Inc
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6.4.2 Croda International Plc
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6.4.3 Eurol
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6.4.4 Exxon Mobil Corporation
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6.4.5 FUCHS
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6.4.6 HP Lubricants
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6.4.7 LUKOIL Marine Lubricants DMCC
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6.4.8 OMSC
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6.4.9 Royal Dutch Shell plc
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6.4.10 Sasol
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6.4.11 Total
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Compressor Oil Industry Segmentation
The Compressor Oil Market report includes:
| Base Oil | |
| Synthetic | |
| Mineral | |
| Others |
| End-user Industry | |
| Manufacturing | |
| Chemical & Petrochemical | |
| Oil & Gas | |
| Mining | |
| Others |
| Geography | |||||||
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Compressor Oil Market Research FAQs
What is the current Compressor Oil Market size?
The Compressor Oil Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Compressor Oil Market?
Exxon Mobil Corporation, Chevron U.S.A. Inc, HP Lubricants, Royal Dutch Shell plc and Total are the major companies operating in the Compressor Oil Market.
Which is the fastest growing region in Compressor Oil Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Compressor Oil Market?
In 2024, the Asia Pacific accounts for the largest market share in Compressor Oil Market.
What years does this Compressor Oil Market cover?
The report covers the Compressor Oil Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Compressor Oil Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Compressor Oil Industry Report
Statistics for the 2024 Compressor Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Compressor Oil analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
