Refrigeration oil is derived from formulating a mixture of oil and additives at high-temperature devised for usage in cooling systems. Refrigeration oil is widely used for lubrication purpose in refrigeration compressors and other systems in order to reduce friction between metal parts and wear in the compressor.
Market Dynamics
The global refrigeration oil market has witnessed significant growth from 2019, owing to the rising demand for home appliances coupled with shifting preferences for low GWP (Global Warming Potential) refrigerants due to growing concerns regarding global warming. This scenario is expected to provide lucrative growth to the global Refrigeration oil market over the forecast period.
Major players in the global refrigeration oil market are increasing their investment on innovative product launches, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use industries, chemicals, manufacturing, and others. This scenario is expected to fuel the market growth during the forecast period.
The current market demand is concentrated on refrigeration oils that are cost-effective and meet the minimum standards or regulations mandated in the region. With changing nature of applications, customers demand more functions of refrigeration apart from cooling. Customers are becoming more focused on multi-functional refrigerators & freezers, air conditioners and also for automobile industry.
Key features of the study:
- This report provides an in-depth analysis of the global refrigeration oil market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global refrigeration oil market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include ExxonMobil Corporation, Royal Dutch Shell Plc, Idemitsu Kosan Co., Ltd., Meiwa Corporation, CPI Fluid Engineering, FUCHS Lubricants, and Performance Chemicals
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics.
- The global refrigeration oil market report caters to various stakeholders in this industry including investors, suppliers, refrigeration oil manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global refrigeration oil market
Detailed Segmentation:
- Global Refrigeration Oil Market, By Product Type:
- Mineral Oil
- Synthetic Oil
- Polyol Ester
- Poly Alpha Olefin
- Alkyl Benzene
- Polyalkylene Glycol
- Polyvinyl ether
- Others
- Global Refrigeration Oil Market, By Refrigerant Type :
- Chlorofluorocarbon (CFC)
- Hydro-chlorofluorocarbon (HCFC)
- Hydro-fluorocarbon (HFC)
- Ammonia
- Others
- Global Refrigeration Oil Market, By End-user:
- Industrial
- Commercial
- Residential
- Global Refrigeration Oil Market, By Application:
- Air Conditioners
- Coolers
- Chillers
- Refrigerators/Freezers
- Condensers
- Others
- Global Refrigeration Oil Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- France
- Germany
- Italy
- Spain
- U.K.
- Nordic
- Benelux
- Russia
- Poland
- Asia Pacific
- China
- India
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- Company Profiles
- ExxonMobil Corporation*
- Company Overview
- Product Portfolio
- Key Strategies
- Recent Developments
- Future Plans
- Royal Dutch Shell Plc
- Idemitsu Kosan Co., Ltd.
- Meiwa Corporation
- CPI Fluid Engineering
- FUCHS Lubricants
- Performance Chemicals
"*" marked represents similar segmentation in other categories in the respective section