According to the research report titled ‘Asia Pacific Compressor Oil Market Forecast 2027 By End-use, By Base Oil, By Compressor Type, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific compressor oil market is anticipated to surpass a valuation of USD 3.5 billion by the year 2027.

According to credible estimates, increasing construction of residential and commercial buildings, rising production capacity of manufacturers to meet demand from numerous infrastructure development projects are the major growth determinants for Asia Pacific compressor oil market.

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Furthermore, flourishing food & beverage sector, along with growing industrialization, shifting trend towards strong economy, and supportive government policies will improve industrial production output, which in turn is expected to augment market expansion in the coming years.

In terms of base oil, the mineral oil segment was worth USD 500 million in 2020 and is poised to grow significantly over the forecast period, owing to low cost, high additive solubility, and good compatibility with a wide range of lubricants.

Based on end use spectrum, the general manufacturing segment of Asia Pacific compressor oil market held 30% revenue share in 2020 and is slated to grow between 2021 and 2027, on account of the growing preference of oil-free compressor to ensure drug manufacturing and packing under uncontaminated conditions.

Whereas food & beverages segment is reckoned to grow with 3% CAGR during the forecast period, due to a wide range of applications of compressors in food packaging and food filling & cleaning equipment, along with increasing population, growing popularity for packaged food items, and improving lifestyle of individuals.

Ingersoll Rand Inc., Atlas Copco, Klüber Lubrication München SE & Co. KG, Phillips 66 Company, Chevron Corporation, Sasol Limited, The Dow Chemical Company, Hindustan Petroleum Corporation Limited, The PJSC Lukoil Oil Company, China Petroleum & Chemical Corporation, Indian Oil Corporation Limited, Eni S.p.A, BASF SE, BP plc, Exxon Mobil Corporation, Fuchs Petrolub SE, TotalEnergies SE, and Shell plc are the leading players in Asia Pacific compressor oil marketplace.