Refrigeration Oil (Mineral, Synthetic) Market - Global Forecast to 2024
DUBLIN, Sept. 17, 2019 /PRNewswire/ -- The "Refrigeration Oil Market by Oil Type (Mineral Oil, Synthetic Oil (Polyolester, Polyalkylene Glycol)), Application (Refrigerator & Freezer, Air Conditioner, Automotive AC System, and Aftermarket), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The refrigeration oil market size is estimated to grow from USD 1.1 billion in 2019 to USD 1.4 billion by 2024, at a CAGR of 4.7% between 2019 and 2024.
This 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.
The key players in this market are JXTG Holdings (Japan), Idemitsu Kosan Co., Ltd. (Japan), China Petrochemical Corporation (Sinopec Group) (China), Indian Oil Corporation Ltd. (India), and PETRONAS (Malaysia).
The global and regional players have sizable shares in the refrigeration oil market. The key players in the market are focusing on strategies, such as new product launches, expansions, and partnerships & agreements to expand their businesses, globally.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Refrigeration Oil Market
4.2 APAC Refrigeration Oil Market, By Application and Country
4.3 Refrigeration Oil Market, By Region
4.4 Refrigeration Oil Market Attractiveness
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Consumer Appliances
5.2.1.2 Growing Demand for Chilled & Frozen Food and Pharmaceutical Industries
5.2.1.3 Rising Demand for Low GWP Refrigerants
5.2.2 Restraints
5.2.2.1 Stringent Regulations to Limit the use of Fluorocarbon Refrigerants
5.2.2.2 The Complexity of Functioning of Oil Control
5.2.3 Opportunities
5.2.3.1 Growing Demand for Low Viscosity and High-Quality Refrigeration Oil
5.2.4 Challenges
5.2.4.1 Compatibility of Refrigeration Oil With Refrigerants
5.3 Porter's Five Forces Analysis
6 Refrigeration Oil Market, By Oil Type
6.1 Introduction
6.2 Synthetic Oil
6.2.1 Better Long Term Performance in Refrigeration Oil Applications to Drive the Market
6.2.2 POE
6.2.3 PAG
6.2.4 Others
6.2.4.1 PAO
6.2.4.2 PVE
6.2.4.3 AB
6.2.4.4 Blends
6.3 Mineral Oil
6.3.1 Excellent Fluidity Characteristics to Drive the Market
7 Refrigeration Oil Market, By Application
7.1 Introduction
7.2 Refrigerator & Freezer
7.2.1 Increasing Demand of Refrigeration Oils in Compressor to Drive the Market
7.2.2 Domestic Refrigerator & Freezer
7.2.3 Commercial Refrigerator & Freezer
7.2.4 Industrial Refrigerator & Freezer
7.3 Air Conditioner
7.3.1 Growth in the Demand for Air Conditioner in Hotter Countries to Drive the Market
7.3.2 Domestic Air Conditioner
7.3.3 Commercial Air Conditioners
7.4 Automotive Ac System
7.4.1 Rising Demand for Automobiles Drives the Market
7.5 Aftermarket
7.5.1 Increasing Demand for Refrigerator & Freezer, Air Conditioner, and Automotive Ac System to Significantly Boost the Market
8 Refrigeration Oil Market, By Region
9 Competitive Landscape
9.1 Overview
9.2 Key Market Players
9.2.1 JXTG Holdings
9.2.2 BASF SE
9.2.3 Idemitsu Kosan Company Co., Ltd
9.3 Competitive Situation and Trends
9.3.1 Expansion
9.3.2 Agreement
9.3.3 New Product Launch
10 Company Profiles
10.1 JXTG Holdings
10.2 BASF SE
10.3 Idemitsu Kosan Co., Ltd.
10.4 ExxonMobil Corporation
10.5 Royal Dutch Shell PLC
10.6 Total S.A.
10.7 China Petrochemical Corporation (Sinopec Corp.)
10.8 Petroliam Nasional Berhad (PETRONAS)
10.9 FUCHS Petrolub SE
10.10 Johnson Controls
10.11 The Lubrizol Corporation (CPI Fluid Engineering)
10.12 BP P.L.C.
10.13 Chevron Corporation
Other Market Players
- Behr Hella Service GmbH
- BVA, Inc.
- Calumet Specialty Products Partners, L.P.
- Camco Lubricants
- CITGO Petroleum Corporation
- Cosmo Oil Lubricants Co., Ltd.
- Ente Nazionale Idrocarburi ENI
- Indian Oil Corporation Ltd.
- ISEL
- National Refrigerants, Inc.
- 1Summit Oil Company, Inc. (Kluber Lubrication NA LP)
- Lubriplate Lubricants Company
- Lukoil
- Petro-Canada Lubricants Inc.
- Phillips 66 Lubricants
- Sun Company, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2yl870
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