APAC Compressor Oil Market size is estimated to reach USD 3.5 billion by 2027, according to a latest forecast report by Graphical Research. The primary market driving factor is the rapid growth in the manufacturing and construction sectors in growing countries such as China, India, Japan, Australia, Southeast Asia, and South Korea. In this region, domestic and foreign investments in the building & construction industry have been steadily increasing over the last decade. Increasing government initiatives to strengthen the manufacturing sector is expected to offer potential opportunity for compressor oil in coming years.
The COVID-19 pandemic had a dramatic & significant impact on in the Asia Pacific compressor oil industry. The compressor industry took a hit in terms of production and operational & distribution standpoint. The main impact came from the end-use industries of the product. As compressors are dynamic and diverse pieces of equipment, they are utilized in various production & general use-case environments. The end-user industries of the product include general manufacturing, construction, food & beverage, mining, chemical production, power generation, and other general household & healthcare cases.
Browse detailed statistical insights from the report, “Asia Pacific Compressor Oil Market Forecast 2027 By End-use (General Manufacturing, Construction, Food & Beverage, Mining, Chemical, Power Generation), By Base Oil (Synthetic Oil, Mineral Oil), By Compressor Type (Reciprocating, Rotary Screw, Centrifugal), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The general manufacturing segment accounted over 30% market share 2020. Manufacturers cannot afford the risk of contamination in several industrial processes. In such sectors, high-quality & ultra-clean air is necessary. For drug preparation and packaging, the pharmaceutical sector demands clean oil-free compressed air. For such activities, manufacturers prefer to employ an oil-free compressor.
Manufacturers operating in the Asia Pacific market are adopting mergers & acquisitions, R&D, new product development, and production expansion strategies to strengthen their distribution networks and gain a competitive advantage over other players. In April 2019, Fuchs Petrolub SE opened one of the most modern lubricant blending plants in Suzhou, China, featuring smart production programs and warehouse technology for industrial oils, automotive oils, metalworking fluids, rolling oils, and corrosion preventives. Furthermore, in January 2018, ExxonMobil Corporation acquired PT Federal Karyatama, an Indonesian manufacturer & marketer of lubricants, strengthening the Mobil brand and lubricant business in the fast-growing Indonesian market.
The compressor oil in APAC market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Base Oil
- Synthetic oil
- Mineral oil
Asia Pacific Market, By Compressor Type
- Rotatory screw
Asia Pacific Market, By End-use
- General manufacturing
- Food & beverage
- Power generation
The above information has been provided for the following Countries:
- South Korea