Refrigeration oil is derived from formulating a mixture of oil and additives at high-temperatures. It is used in cooling systems. Refrigeration oil is widely used for lubrication purposes in refrigeration compressors and other systems in order to reduce friction between metal parts and wear in the compressor. Mineral oil or synthetic oil are both used in the production of refrigeration oil, which is then mixed with additives. This oil is developed for use in cooling systems where it is used to lubricate the moving parts of the refrigeration system. Refrigeration oil possesses low pour point, has better chemical and thermal stability, high viscosity, and is completely contamination-free.
Market Dynamics
- The rising demand for home appliances coupled with the shifting preferences for low Global Warming Potential (GWP) refrigerants due to growing concerns regarding global warming. This scenario is expected to provide lucrative growth opportunities for the global refrigeration oil market over the forecast period.
- Major players operating in the global refrigeration oil market are increasing their investments on innovative product launches, research and development, and marketing and promotional activities to capitalize on emerging trends in various end-use industries, such as 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 Asia &Pacific region. Customers are requesting more refrigeration functionalities beyond cooling due to the changing nature of applications.
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 matrices 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
- The 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 decisions regarding future product launches, technology upgrade, 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
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Company Profiles
- ExxonMobil Corporation
- Royal Dutch
- Shell Plc.
- Idemitsu Kosan Co., Ltd.
- Meiwa Corporation
- CPI Fluid Engineering
- FUCHS Lubricants
- Performance Chemicals
