Compressor Oil Industry Size, Share, Demand & Growth by 2034

 The sales of compressor oils market are poised to expand at a 5.4% CAGR during the forecast period, reaching a valuation of US$ 11,001.4 million by 2034. The global compressor oils are estimated to total US$ 6,513.7 million in 2024.

Synthetic oils remain a widely consumed oil type in the market. This is due to their excellent heat and wear resistance. The target segment is poised to expand at a CAGR of 4.9% during the assessment period.

East Asia is expected to dominate the global compressor oil market during the forecast period. It will likely hold 24.9% of the global market share in 2034. This is due to rapid industrial growth in countries like Japan, South Korea, and China.

The compressor oil industry is poised to exhibit steady growth during the assessment period. This is attributable to factors like:

• Booming industrial sector
• Rising adoption of HVAC systems in residential and industrial sectors
• Increasing focus on energy efficiency
• Growing popularity of bio-based compressor oils
• Expanding infrastructure globally

The growing manufacturing and industrial sectors are leading to increased adoption of compressors and, consequently, compressor oils. Compressors are integral to various processes in industries such as automotive, electronics, and heavy machinery manufacturing, creating a consistent demand for high-quality compressor oils.

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The growing adoption of HVAC systems in residential, commercial, and industrial sectors is another prominent factor impacting compressor oil sales. This is because HVAC systems require the use of compressors and compressor oils essential for the proper lubrication and functioning of compressors.

The market is witnessing a gradual shift toward bio-based compressor oils due to growing environmental concerns and a rising need for environmentally friendly lubricants. Similarly, the development of advanced compressor oils with improved performance and better stability will benefit the market.
Key Takeaways from the Report:

• The global market for compressor oils is projected to total US$ 11,001.4 million in 2034.
• Based on oil type, the synthetic oil segment is estimated to account for about 57.9% of the overall market size.
• By end-use industry, manufacturing & others segment is set to grow at a CAGR of 5.6%.
• China’s market value is anticipated to total US$ 1,652.1 million in 2034.
• Demand for compressor oils in India is poised to grow with a CAGR of 5.3% through 2034.
• Total compressor oil revenue in the United States is set to reach US$ 1,409.9 million by 2034.

Who is Winning?

Leading compressor oil manufacturers listed in the report include

• ExxonMobil Corporation
• Quaker Chemical Corporation
• Fuchs Petrolub SE
• BP plc
• TotalEnergies SE
• Apar Industries Ltd.
• Calumet Specialty Products Partners, L.P.
• Chevron Corporation
• China Petroleum & Chemical Corp (Sinopec Corporation)
• Repsol SA
• Philips 66
• Raj Petro Specialities Pvt. Ltd
• Nynas AB
• Valvoline, Inc.
• Shell plc.
• Savita Oil Technologies Ltd.
• The Dow Company

Key companies are concentrating on developing high-performance and environmentally friendly compressor oils to meet the evolving needs of end-use industries. They also use tactics like acquisitions, distribution agreements, facility expansions, partnerships, and mergers to strengthen their global footprint.

• In May 2023, Luberef signed a Memorandum of Understanding (MOU) with APAR Industries Limited to build a Compressor Oil/White Oil plant at the LubeHub, supporting the localization of specialty products in KSA.
• In 2020, APAR introduced POWEROIL Press C 220 compounded compressor oil to provide optimal resistance to water washing while lubricating compressors handling wet gasses.

About the Chemicals and Materials Division at Future Market Insights (FMI)

The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing — ‘The Way Forward’.

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