Refrigeration Oil Market Research Report, Trends, Size, Share, Top 10 key Players Analysis & Forecast by MNM

 The Refrigeration Oil Market rsearch report is focused on market trends, dynamics, growth drivers, opportunities, weaknesses, strengths, industry trends, market size, market share, sales volume and opportunities with expert reviews. The Refrigeration Oil Market size is projected to reach USD 1.4 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 4.1%. Further, the report shares detailed analysis by Type (Synthetic Oil (POE, PAG), Mineral Oil), Application (Refrigerators & Freezers, Air conditioner, Automotive AC System, Aftermarket), & Region(APAC, North America, South America, Europe, & MEA) - Global Forecasts to 2026.

The market growth is primarily triggered by the increasing demand from the refrigerator & freezer, air conditioner, and automotive AC system applications. APAC is the largest refrigeration oil market due to a rise in the manufacturing of consumer appliances and automobiles. Furthermore, the changing lifestyle of consumer and rising income levels have led to higher demand for refrigerators & freezers and air conditioners, which, in turn, drives the refrigeration oil market. The growing demand for perishable food products along with growth in the pharmaceutical industry also drives the demand for refrigerators & freezers, fueling the growth of the refrigeration oil market.

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Refrigeration Oil Market Key Players

• Eneos Holdings Inc. (Japan)
• BASF SE (Germany)
• Idemitsu Kosan Co. Ltd (Japan)
• ExxonMobil Corporation (U.S.)
• Royal Dutch Shell Plc. (Netherlands)
• Total Energies SE(France)
• China Petrochemical Corporation (Sinopec Corp)
• Petroliam Nasional Berhad(Petronas)
• FUCHS Petrolub SE (Germany)
• Johnson Controls(Ireland)

Eneos Holdings Inc. engages in the development, production, and sale of petroleum, natural gas, and metals. The company operates through four business segments, namely, Energy, Metals, Oil, Natural gas E&P, and Others. The company operates its refrigeration oil business in Japan, China, and other among other countries.

BASF SE is one of the largest chemical producers in the world. It engages in manufacturing and selling a wide range of chemicals and intermediate solutions. The company offers various products including chemicals, additives, plastics, functional solutions, performance products, agricultural solutions, and crude oil. It operates through seven different business segments namely: Chemicals, Industrial solutions, Nutrition & care, Materials, Surface technologies, Agricultural solutions and others. The company has a presence in more than 60 countries of Europe, North America, APAC, South America, and the Middle East & Africa

Idemitsu Kosan Co., Ltd. is a petroleum refining and manufacturing company. The company manufactures and sells petrochemical and oil products. The company operates through its subsidiaries in APAC, Europe, North America, South America, and the Middle East & Africa

Refrigeration Oil Market Segmentation

By Oil Type

• Synthetic oil
• Mineral oil

Synthetic oil is the largest oil type of refrigeration oil market.

Synthetic oil accounted for the largest share of the overall refrigeration oil market, in terms of value, in 2020. Synthetic oil is manufactured by combining synthetic base oils and additives. It has several advantages over conventional mineral oil due to its high performance in extreme conditions, better viscosity index, higher shear stability, and improved chemical resistance. In addition, its compatibility with low GWP and modern refrigerants gives them an added advantage over mineral oil.

By Application

• Refrigerators & Freezers
• Air Conditioner
• Automotive AC System
• Aftermarket

Refrigerators & Freezers is estimated to be the largest application of the refrigeration oil market during the forecast period.

Refrigerator & freezer is the largest application of refrigeration oil. This growth is attributed to the rising demand for perishable food items and changing the lifestyle of people in developed and developing regions. Refrigeration oil is used in domestic, commercial, and industrial refrigerators & freezers. In addition, the growing demand for refrigerated food products and increasing trade of food products are driving the refrigeration oil market in the refrigerator & freezer application.

By Region

• APAC
• North America
• Europe
• Middle East & Arica
• South America

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APAC is estimated to be the largest market for refrigeration oil during the forecast period.

APAC is the largest market for refrigeration oil, followed by North America and Europe. APAC dominates the refrigeration oil market due to the rapid economic growth, particularly in the consumer goods and automobile industries in the region. The rapid urbanization in APAC, coupled with the improved living standard is driving the refrigeration oil market.

Table of Contents:

• Executive Summary
• Scope/opportunities of the Refrigeration Oil Market Report
• Research Methodology
• Refrigeration Oil Market Landscape
• SWOT Analysis
• Market Sizing
• Refrigeration Oil Market Segmentation
• Customer Landscape
• Regional Landscape
• Business Decision Framework
• Drivers And Challenges
• Refrigeration Oil Market Key Trends
• Players Landscape
• Players Analysis

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