PAG Compressor Oil Market Size By Type (Reciprocating, Rotary, Centrifugal, Others), By End-user (Automotive, Mining, General Manufacturing, Construction, Food & Beverage, Others) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends,

PAG Compressor Oil Market Size By Type (Reciprocating, Rotary, Centrifugal, Others), By End-user (Automotive, Mining, General Manufacturing, Construction, Food & Beverage, Others) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032

PAG Compressor Oil Market is estimated to chart out lucrative gains through 2032 subject to significant growth in APAC construction and infrastructure industry. As per India Brand Equity Foundation estimates, India would require more than USD 777 billion investment across infrastructure sector by 2022 for sustainable development in the nation.

Factors like growing urbanization, high standards of living, and increasing disposable incomes are expected to fuel the growth of residential buildings in the region in the coming years. Besides, ongoing infrastructure development projects and hefty spending on construction would boost the sectoral development. Such trends are likely to impel the PAG compressor oil market demand.

PAG compressor oil exhibits superior wear protection, high viscosity index and low pour point for use over expanding temperature range, high resistance to dilution by hydrocarbon gases, increased film strength for wear protection, protection against corrosion and rust. These parameters would propel the market growth curve during 2023-2032.

On the whole, the global PAG compressor oil market is fragmented in terms of type, end-user, and region.

Based on the type, reciprocating compressors segment is slated to record notable gains through 2032. In reciprocating compressors, PAG compressor oil is used to lubricate frame journal bearings, cylinders, and other bearings. Single-stage reciprocating compressor are used in households while double-stage reciprocating compressor are used in industrial applications, complementing the product demand.

PAG compressor oil market revenue share from the construction industry is predicted to exceed USD 447 million by 2032. The construction sector employs air compressors to drive pneumatic tools and drilling equipment. PAG compressor oils reduce wear and tear and contamination in compressors, influencing its demand across the industry. Growing construction industry in APAC economies and increasing mining activities in Africa would further support the market expansion through 2032.

Geographically, the PAG compressor oil market is estimated to draw major traction from Latin America. The regional market is likely to witness more than 8.5% CAGR between 2023-2032. LATAM market growth can be driven by various central governments’ push toward infrastructural development, boosting the portable compressors demand in the ensuing years.

For instance, in early 2022, Mexico announced preparing a multibillion-dollar infrastructure package with private firms. The investment would also support efforts to attract the US investment to revive the economy. Such initiatives are anticipated to strengthen the product penetration over the stipulated time frame, generating lucrative opportunities for regional market players.

Global PAG compressor oil market is highly consolidated and boasts presence of leading players such as Total Lubricants USA, Exxon Mobil Corporation, Castrol, Idemitsu Lubricants, Philip 66 Lubricants, Inc., and others. Companies are relentlessly working toward launching new products, engaging in research and studies and partnerships to score a competitive edge over others.