The refrigeration oil market is projected to grow at a rate of 4.2% in terms of value, from USD 1,147.6 Million in 2020 to reach USD 1,618.1 Million by 2028. The refrigeration oil is used in the refrigeration system for the lubrication of the compressor system whose function is to give out cold air. The oil decreases metal parts friction, plummeting compressor wear, and extends its longevity. Refrigerant oil is a kind of special high-temperature lubricant formulated for application in cooling systems. This oil is derived generally from either mineral oil or synthetic derivatives.
Top Companies Operating in the Global Refrigeration Oil Market:
JXTG Holdings Inc., BASF SE, China Petrochemical Corporation, Shell Global, Exxon Mobil Corporation, Total, Meiwa Corporation, Indian Oil Corporation Ltd, Behr Hella Service Gmbh, Cosmo Oil Lubricants Co. Ltd., Calumet Specialty Products Partners L.P., Lubriplate Lubricants Company, Petronas, Petro-Canada Lubricants Inc., and Idemitsu Kosan Co.
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Major Factors Contributing to the Global Materials and Chemicals Market Revenue Growth
The global materials chemicals market revenue growth is primarily attributed to factors such as fast-paced industrialization across the globe, rising demand for essential consumer goods (including packaged foods beverages, personal care cosmetic products, and household hygiene products), and increasing applications of raw materials and chemicals in a wide range of industries including the buildings construction, food beverage, pharmaceutical, agriculture, and textile industries. Other important factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing use of high-performance, organic agrochemicals in the agriculture industry, rising environmental concerns among the population, growing need for environmentally friendly and sustainable raw materials and chemicals, and increasing government investments in the materials chemicals industry.
Table of Contents:
- Report Overview
1.1 Research Scope
1.2 Key Refrigeration Oil market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Refrigeration Oil market size
2.2 Latest regional market trends
2.3 Emerging growth trends - Competitive Outlook
3.1 Global Refrigeration Oil market key players
3.2 Global Refrigeration Oil size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Refrigeration Oil market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Refrigeration Oil Market Segmentation
Product Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Mineral Oil
- Synthetic Oil
Refrigeration Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Hydro Chlorofluorocarbon
- Chlorofluorocarbon
- Hydro Fluorocarbon
- Ammonia
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Air Conditioners
- Coolers
- Chillers
- Refrigerators
- Condensers
End-Use Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Residential
- Commercial
- Industrial
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