The global compressor oil market is projected to reach USD 34.11 Billion by 2021, registering a CAGR of 6.0% between 2016 and 2021. The rapid growth in the end-use industries in Asia-Pacific is a key driver of the compressor oil market. The manufacturing industry consumed more than 35% of compressor oil in 2015. In addition, the rapid growth of various manufacturing industries in emerging nations is another driver of the market.

The manufacturing industry dominated the compressor oil market. This is due to the rapid growth in manufacturing industry and improving standard of living in the developing nations, which is also led to development of other industries, driving the compressor oil market. Moreover, the increasing number of passenger vehicles, commercial vehicles and growth in the oil & gas and power industries are expected to drive the rising demand for compressor oil, globally.

The compressor oil market is classified on the basis of base oil type, namely, synthetic compressor oil, semi-synthetic compressor oil, mineral compressor oil, and bio-based compressor oil. It is dominated by synthetic compressor oil mainly due to its easy availability, high performance, and longer drain out time. Synthetic compressor oil is further segmented into PAO (polyalphaolefins), PAG (polyalkylene glycol), and esters. It is projected to register the highest CAGR between 2016 and 2021.

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Synthetic compressor oil to account for the major share of the compressor oil market till 2021

The compressor oil market is segmented by base oil type, namely, synthetic compressor oil, semi-synthetic compressor oil, mineral compressor oil, and bio-based compressor oil. Synthetic compressor oil is the most preferred type of compressor oil and accounts for a major share in the global compressor oil market. Easy availability, high performance, and longer drain out time are the major driving factors of the synthetic compressor oil market.

Manufacturing industry to be the largest industry for the compressor oil market between 2016 and 2021

The manufacturing industry accounted for the largest share in the compressor oil market. This is due to the rising manufacturing industry and improving standard of living in the developing nations, which also lead to development of other industries, driving the compressor oil market. The manufacturing industry is subsegmented into chemical & petrochemical, metal production, construction & mining equipment, food & beverages, and others (including aerospace and agricultural equipment).

The compressor oil market is classified on the basis of compressor type into positive displacement compressor (rotary screw compressor and reciprocating compressor) and dynamic compressor (centrifugal compressor and axial compressor). Positive displacement compressor is the major type of compressor, accounting for maximum share for the compressor oil market in 2015. This is due to reduced maintenance cost and lower energy consumption, which in turn drives the market for compressor oil. Rotary screw compressor is the major sub-segment of positive displacement compressor.

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Some of the important compressor oil companies are Royal Dutch Shell plc (Netherlands), Exxon Mobil Corporation (U.S.), Sinopec Limited (China), Total S.A. (France), Lukoil (Russia), BP plc (U.K.), Chevron Corporation (U.S.), Fuchs Petrolub AG (Germany), The Dow Chemical Company (U.S.), Croda International plc (U.K.), BASF SE (Germany), Sasol Limited (South Africa), and others. The players in this market need to compete with each other with respect to prices, and offer wide range of products to meet the market requirements.

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