As per the 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 reach a valuation of USD 3.5 billion by the year 2027.
 

Escalating demanding residential and commercial establishments, expanding manufacturing sector in emerging economies, and favorable government policies are stimulating Asia Pacific compressor oil market growth.

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On the contrary, stringent government regulations and norms, and volatile raw material prices are negatively impacting the business dynamics.

Based on base oil, the market is divided into mineral, synthetic, and others. The mineral oil segment accounted for USD 500 million in 2020 and is gaining traction owing to lower product cast in comparison to synthetic oil. Moreover, compatibility with a range of lubricants and higher additive solubility than counterparts are the key characteristics favoring product adoption across various industries.

In terms of end-use scope, general manufacturing segment captured over 30% of Asia Pacific compressor oil industry share in 2020 and is touted to grow substantially through 2027. This can be ascribed to the necessity of clean, oil-free compressed air among manufacturers to maintain the best standards, especially in highly sensitive applications such as medication production and packaging.

The food & beverage segment is touted to record a 3% CAGR through 2027. This can be attributed to shifting preference toward packaged and ready-to-eat food products due to changing consumer lifestyles. Burgeoning population and rising concerns regarding food safety are further adding to the segmental value.

Besides, there are no set norms pertaining to the acceptable minimum purity level for compressed air used in food manufacturing. This is compelling businesses to ensure that their products meet the highest quality standards, which in turn, is boosting the demand for air compressors in this sector.

Apart from the above, construction, mining, power generation, and chemical are other major segments covered in the research piece.

Major players influencing the competitive landscape of compressor oil market in Asia Pacific are Chevron Corp., Sasol Ltd., Dow Chemical Co., Hindustan Petroleum Corp. Ltd., PJSC Lukoil Oil Co., Sinopec Group, Indian Oil Corp Ltd., Eni S.p.A., BASF SE, BP plc, Exxon Mobil Corp., Fuchs Petrolub SE, Total S.A., and Shell plc among others.