Product Code: A17432
The global refrigeration oil market was valued at $1.4 billion in 2021, and is projected to reach $2.2 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.
Refrigeration oil is a material or blend of materials that are used to add a protecting cover to industrial tanks and cuts the heat loss or heat gain from tank surfaces that are operating at temperatures above or below the surrounding temperature.
In addition, minimal Brookfield viscosity further contributes towards improved oil flow at cryogenic temperature and oil return from evaporator, which contributes towards the growth of the global market. In addition, paraffin-based refrigeration oils help surface protection of compressors, which in turn ensures longevity of the equipment and cuts down maintenance cost. Viscosity index is crucial for safe and proper lubrication of compressors. Refrigeration oil tend to have high viscosity index, making them the best choice for lubrication of compressors. In addition, mineral refrigeration oil compatibility contributes to oil separator efficiency, which ensures low miscibility of refrigeration oil with ammonia refrigerant. All these factors have escalated the demand for mineral oil and is anticipated to offer new growth opportunities during the forecast period.
Several environmental risks associated with use of refrigeration oils hamper the market growth. For instance, during disposal of used refrigeration oil, the risk of contamination associated with water bodies negatively impacts aquatic animals. In addition, emission risk associated with use of refrigeration oil also hampers the market growth. Refrigeration oil tend to cause ozone depletion and contribute to global warming. Refrigeration oils are mainly used in air conditioning and refrigeration systems.
However, the air conditioning and refrigeration systems tend to impact negatively on stratospheric ozone owing to use of ozone-depleting refrigerants. This further contributes towards global warming owing release of refrigerants and from emission of greenhouse gases (GHGs) for associated energy use. All these factors tend to negatively impact the demand and use for refrigeration oil in air conditioning and refrigeration systems. This further tends to hamper the growth of the global market
Conversely, refrigeration oil has low traction co-efficient factor, making it widely used in compressors, which drives the growth of the global market. Some refrigeration oil poses environmental issues owing to need for periodic drain and replace the oil. Thus, key-players in the refrigeration oil market are testing environment-friendly oils, intended to be used across industrial compressor. This factor is anticipated to open up new opportunities for the refrigeration oil market.
The refrigeration oil market is segmented on the basis of oil type, application, and region. On the basis of oil type, the market is categorized into synthetic and mineral. By application, the market is segmented into refrigerators & freezers, air conditioner, automotive air conditioning system, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Exxon Mobil Corporation, HP Lubricants, Castrol Limited, Shell plc, ENEOS Corporation, ADDINOL, FUCHS, Phillips 66 Company, BP Lubricants Pvt. Ltd., Lubriplate Lubricants Company, Freudenberg Group, and Whitmore Manufacturing LLC. The global refrigeration oil market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the refrigeration oil market analysis from 2021 to 2031 to identify the prevailing refrigeration oil market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the refrigeration oil market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global refrigeration oil market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Oil Type
By Application
- Refrigerators and Freezers
- Air Conditioner
- Automotive Air Conditioning System
- Others
By Region
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest Of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest Of LAMEA
- Key Market Players
- Eneos Holdings Inc.
- Idemitsu Kosan Co. Ltd
- EXXONMOBIL CORPORATION
- Royal Dutch Shell Plc
- Total Energies SE
- FUCHS Petrolub S
- Johnson Controls International plc
- Cosmo Oil Lubricants Co., Ltd.
- National Refrigerants, Inc.
- kluber
- Lubriplate Lubricants Company
- BASF SE
- Lukoil
- Chevron Corporation
- Petrochemical Corporation of Singapore (Private) Limited.
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
- 3.7.Pricing Analysis
- 3.8.Value Chain Analysis
- 3.9.Key Regulation Analysis
- 3.10.Patent Landscape
CHAPTER 4: REFRIGERATION OIL MARKET, BY OIL TYPE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Synthetic
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.2.4 Synthetic Refrigeration Oil Market by Type
- 4.2.4.1 POE Market size and forecast, by region
- 4.2.4.2 POE Market size and forecast, by country
- 4.2.4.3 PAG Market size and forecast, by region
- 4.2.4.4 PAG Market size and forecast, by country
- 4.2.4.5 Others Market size and forecast, by region
- 4.2.4.6 Others Market size and forecast, by country
- 4.3 Mineral
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
CHAPTER 5: REFRIGERATION OIL MARKET, BY APPLICATION
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Refrigerators and Freezers
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Air Conditioner
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
- 5.4 Automotive Air Conditioning System
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market analysis by country
- 5.5 Others
- 5.5.1 Key market trends, growth factors and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market analysis by country
CHAPTER 6: REFRIGERATION OIL MARKET, BY REGION
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 North America
- 6.2.1 Key trends and opportunities
- 6.2.2 North America Market size and forecast, by Oil Type
- 6.2.2.1 North America Synthetic Refrigeration Oil Market by Type
- 6.2.3 North America Market size and forecast, by Application
- 6.2.4 North America Market size and forecast, by country
- 6.2.4.1 U.S.
- 6.2.4.1.1 Market size and forecast, by Oil Type
- 6.2.4.1.1.1 U.S. Synthetic Refrigeration Oil Market by Type
- 6.2.4.1.2 Market size and forecast, by Application
- 6.2.4.2 Canada
- 6.2.4.2.1 Market size and forecast, by Oil Type
- 6.2.4.2.1.1 Canada Synthetic Refrigeration Oil Market by Type
- 6.2.4.2.2 Market size and forecast, by Application
- 6.2.4.3 Mexico
- 6.2.4.3.1 Market size and forecast, by Oil Type
- 6.2.4.3.1.1 Mexico Synthetic Refrigeration Oil Market by Type
- 6.2.4.3.2 Market size and forecast, by Application
- 6.3 Europe
- 6.3.1 Key trends and opportunities
- 6.3.2 Europe Market size and forecast, by Oil Type
- 6.3.2.1 Europe Synthetic Refrigeration Oil Market by Type
- 6.3.3 Europe Market size and forecast, by Application
- 6.3.4 Europe Market size and forecast, by country
- 6.3.4.1 Germany
- 6.3.4.1.1 Market size and forecast, by Oil Type
- 6.3.4.1.1.1 Germany Synthetic Refrigeration Oil Market by Type
- 6.3.4.1.2 Market size and forecast, by Application
- 6.3.4.2 UK
- 6.3.4.2.1 Market size and forecast, by Oil Type
- 6.3.4.2.1.1 UK Synthetic Refrigeration Oil Market by Type
- 6.3.4.2.2 Market size and forecast, by Application
- 6.3.4.3 France
- 6.3.4.3.1 Market size and forecast, by Oil Type
- 6.3.4.3.1.1 France Synthetic Refrigeration Oil Market by Type
- 6.3.4.3.2 Market size and forecast, by Application
- 6.3.4.4 Spain
- 6.3.4.4.1 Market size and forecast, by Oil Type
- 6.3.4.4.1.1 Spain Synthetic Refrigeration Oil Market by Type
- 6.3.4.4.2 Market size and forecast, by Application
- 6.3.4.5 Italy
- 6.3.4.5.1 Market size and forecast, by Oil Type
- 6.3.4.5.1.1 Italy Synthetic Refrigeration Oil Market by Type
- 6.3.4.5.2 Market size and forecast, by Application
- 6.3.4.6 Rest of Europe
- 6.3.4.6.1 Market size and forecast, by Oil Type
- 6.3.4.6.1.1 Rest of Europe Synthetic Refrigeration Oil Market by Type
- 6.3.4.6.2 Market size and forecast, by Application
- 6.4 Asia-Pacific
- 6.4.1 Key trends and opportunities
- 6.4.2 Asia-Pacific Market size and forecast, by Oil Type
- 6.4.2.1 Asia-Pacific Synthetic Refrigeration Oil Market by Type
- 6.4.3 Asia-Pacific Market size and forecast, by Application
- 6.4.4 Asia-Pacific Market size and forecast, by country
- 6.4.4.1 China
- 6.4.4.1.1 Market size and forecast, by Oil Type
- 6.4.4.1.1.1 China Synthetic Refrigeration Oil Market by Type
- 6.4.4.1.2 Market size and forecast, by Application
- 6.4.4.2 India
- 6.4.4.2.1 Market size and forecast, by Oil Type
- 6.4.4.2.1.1 India Synthetic Refrigeration Oil Market by Type
- 6.4.4.2.2 Market size and forecast, by Application
- 6.4.4.3 Japan
- 6.4.4.3.1 Market size and forecast, by Oil Type
- 6.4.4.3.1.1 Japan Synthetic Refrigeration Oil Market by Type
- 6.4.4.3.2 Market size and forecast, by Application
- 6.4.4.4 South Korea
- 6.4.4.4.1 Market size and forecast, by Oil Type
- 6.4.4.4.1.1 South Korea Synthetic Refrigeration Oil Market by Type
- 6.4.4.4.2 Market size and forecast, by Application
- 6.4.4.5 Australia
- 6.4.4.5.1 Market size and forecast, by Oil Type
- 6.4.4.5.1.1 Australia Synthetic Refrigeration Oil Market by Type
- 6.4.4.5.2 Market size and forecast, by Application
- 6.4.4.6 Rest of Asia-Pacific
- 6.4.4.6.1 Market size and forecast, by Oil Type
- 6.4.4.6.1.1 Rest of Asia-Pacific Synthetic Refrigeration Oil Market by Type
- 6.4.4.6.2 Market size and forecast, by Application
- 6.5 LAMEA
- 6.5.1 Key trends and opportunities
- 6.5.2 LAMEA Market size and forecast, by Oil Type
- 6.5.2.1 LAMEA Synthetic Refrigeration Oil Market by Type
- 6.5.3 LAMEA Market size and forecast, by Application
- 6.5.4 LAMEA Market size and forecast, by country
- 6.5.4.1 Brazil
- 6.5.4.1.1 Market size and forecast, by Oil Type
- 6.5.4.1.1.1 Brazil Synthetic Refrigeration Oil Market by Type
- 6.5.4.1.2 Market size and forecast, by Application
- 6.5.4.2 Saudi Arabia
- 6.5.4.2.1 Market size and forecast, by Oil Type
- 6.5.4.2.1.1 Saudi Arabia Synthetic Refrigeration Oil Market by Type
- 6.5.4.2.2 Market size and forecast, by Application
- 6.5.4.3 South Africa
- 6.5.4.3.1 Market size and forecast, by Oil Type
- 6.5.4.3.1.1 South Africa Synthetic Refrigeration Oil Market by Type
- 6.5.4.3.2 Market size and forecast, by Application
- 6.5.4.4 Rest of LAMEA
- 6.5.4.4.1 Market size and forecast, by Oil Type
- 6.5.4.4.1.1 Rest of LAMEA Synthetic Refrigeration Oil Market by Type
- 6.5.4.4.2 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product Mapping of Top 10 Player
- 7.4. Competitive Dashboard
- 7.5. Competitive Heatmap
- 7.6. Key developments
CHAPTER 8: COMPANY PROFILES
- 8.1 Eneos Holdings Inc.
- 8.1.1 Company overview
- 8.1.2 Company snapshot
- 8.1.3 Operating business segments
- 8.1.4 Product portfolio
- 8.1.5 Business performance
- 8.1.6 Key strategic moves and developments
- 8.2 Idemitsu Kosan Co. Ltd
- 8.2.1 Company overview
- 8.2.2 Company snapshot
- 8.2.3 Operating business segments
- 8.2.4 Product portfolio
- 8.2.5 Business performance
- 8.2.6 Key strategic moves and developments
- 8.3 EXXONMOBIL CORPORATION
- 8.3.1 Company overview
- 8.3.2 Company snapshot
- 8.3.3 Operating business segments
- 8.3.4 Product portfolio
- 8.3.5 Business performance
- 8.3.6 Key strategic moves and developments
- 8.4 Royal Dutch Shell Plc
- 8.4.1 Company overview
- 8.4.2 Company snapshot
- 8.4.3 Operating business segments
- 8.4.4 Product portfolio
- 8.4.5 Business performance
- 8.4.6 Key strategic moves and developments
- 8.5 Total Energies SE
- 8.5.1 Company overview
- 8.5.2 Company snapshot
- 8.5.3 Operating business segments
- 8.5.4 Product portfolio
- 8.5.5 Business performance
- 8.5.6 Key strategic moves and developments
- 8.6 FUCHS Petrolub S
- 8.6.1 Company overview
- 8.6.2 Company snapshot
- 8.6.3 Operating business segments
- 8.6.4 Product portfolio
- 8.6.5 Business performance
- 8.6.6 Key strategic moves and developments
- 8.7 Johnson Controls International plc
- 8.7.1 Company overview
- 8.7.2 Company snapshot
- 8.7.3 Operating business segments
- 8.7.4 Product portfolio
- 8.7.5 Business performance
- 8.7.6 Key strategic moves and developments
- 8.8 Cosmo Oil Lubricants Co., Ltd.
- 8.8.1 Company overview
- 8.8.2 Company snapshot
- 8.8.3 Operating business segments
- 8.8.4 Product portfolio
- 8.8.5 Business performance
- 8.8.6 Key strategic moves and developments
- 8.9 National Refrigerants, Inc.
- 8.9.1 Company overview
- 8.9.2 Company snapshot
- 8.9.3 Operating business segments
- 8.9.4 Product portfolio
- 8.9.5 Business performance
- 8.9.6 Key strategic moves and developments
- 8.10 kluber
- 8.10.1 Company overview
- 8.10.2 Company snapshot
- 8.10.3 Operating business segments
- 8.10.4 Product portfolio
- 8.10.5 Business performance
- 8.10.6 Key strategic moves and developments
- 8.11 Lubriplate Lubricants Company
- 8.11.1 Company overview
- 8.11.2 Company snapshot
- 8.11.3 Operating business segments
- 8.11.4 Product portfolio
- 8.11.5 Business performance
- 8.11.6 Key strategic moves and developments
- 8.12 BASF SE
- 8.12.1 Company overview
- 8.12.2 Company snapshot
- 8.12.3 Operating business segments
- 8.12.4 Product portfolio
- 8.12.5 Business performance
- 8.12.6 Key strategic moves and developments
- 8.13 Lukoil
- 8.13.1 Company overview
- 8.13.2 Company snapshot
- 8.13.3 Operating business segments
- 8.13.4 Product portfolio
- 8.13.5 Business performance
- 8.13.6 Key strategic moves and developments
- 8.14 Chevron Corporation
- 8.14.1 Company overview
- 8.14.2 Company snapshot
- 8.14.3 Operating business segments
- 8.14.4 Product portfolio
- 8.14.5 Business performance
- 8.14.6 Key strategic moves and developments
- 8.15 Petrochemical Corporation of Singapore (Private) Limited.
- 8.15.1 Company overview
- 8.15.2 Company snapshot
- 8.15.3 Operating business segments
- 8.15.4 Product portfolio
- 8.15.5 Business performance
- 8.15.6 Key strategic moves and developments