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China Refrigeration Lubricants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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  • 80 Pages
  • April 2023
  • Region: China
  • Mordor Intelligence
  • ID: 4912362
The refrigeration lubricants market in China is expected to register at a CAGR of 3% during the forecast period.

Due to the COVID-19 outbreak, nationwide lockdowns, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market studied. However, the conditions started recovering in 2021, which is expected to restore the market's growth trajectory during the forecast period.

Key Highlights

  • Major factors driving the market studied are the new-generation lubricants emergence, optimized for energy efficiency and increasing momentum in the Chinese HVACR industry.
  • Conversely, phasing out of existing refrigerants due to constant regulations amendments will likely hinder the market's growth.
  • Augmenting prominence for lubricant technology and a rise in the cryogenic applications demand are expected to offer various opportunities for market growth.
  • The air conditioning segment is expected to account for the most extensive application of the China refrigeration lubricants market. It is expected to grow at a considerable pace over the forecast period.

China Refrigeration Lubricants Market Trends

Increasing Momentum in the China HVACR Industry

  • HVACR (Heating, Ventilation, Air Conditioning, and Refrigeration) is essential to residential and commercial buildings. The market is filled with different kinds of HVACR appliances. Heating appliances, like heaters, furnaces, and heat pumps, generate heat in buildings via central or local heating.
  • Ventilation appliances change or replace the air in any building to regulate temperature. Air conditioning appliances are used to cool indoor air for thermal comfort.
  • Refrigeration appliances, like refrigerators and freezers, are used to maintain a low temperature below the ambient temperature.
  • Refrigeration lubricants for high-purity ammonia, such as R600a (isobutane), R290 (propane), R1270 (propene/propylene), R1150 (ethene/ethylene), and R170 (ethane), are used in a wide range of applications in domestic, industrial, and transport refrigeration. These are also used in small air conditioning systems, heat pumps, water heaters, and massive air conditioning and chiller systems.
  • Increasing urbanization, unprecedented population growth, and frequently changing governmental regulations for making HVAC products more energy efficient are some of the key factors driving the market growth.
  • Moreover, the growing demand for home appliances in China is one of the major factors accelerating the industry growth. In 2021, there was over 104 refrigerator per one hundred urban households and around 103 refrigerators per one hundred rural households in China. The refrigerator was one of the most prevalent durable goods among Chinese households.
  • Furthermore, China's industrial output of household refrigerators reached nearly 90 million units in 2021. The country was one of the world's largest producers of consumer electronics. Additionally, the cold chain witnessed substantial progress for pharmaceutical products in China, which reached USD 85.3 billion in 2021, an increase of approximately 48% year-on-year.
  • Therefore, these above trends are expected to stimulate the demand for the market studied over the forecast period.

Air-Conditioning Application to Dominate the Market

  • Air conditioning (AC) units are designed to modify humidity and air temperature in an enclosed area. The primary components of an air conditioner are a compressor, evaporator, expansion valve, and condenser. These components are also the areas where oil cocking will lead to the loss of efficiency. Lubricants are used to reduce side effects, such as pipeline corrosion, to provide better compatibility with common refrigeration gases.
  • Refrigeration lubricants include multiple purposes, such as removing heat, lubricating moving parts, acting as a sealant, and cooling the critical parts of compressors.
  • Some significant features of refrigeration lubricants include high resistance to oxidation, resistance to thermal degradation, non-foaming, water separation, anti-wear properties, and corrosion resistance.
  • Energy demand for space cooling in commercial buildings in China is multiplying, owing to the rising population with higher purchase power, rapid urbanization, infrastructure development, and global warming.
  • China is the largest producer and consumer of the air conditioner market, accounting for over 40% of the global market. China’s air conditioner market is expected to reach USD 42 billion by 2025.
  • Presently, China produces around 70% of the world’s room air conditioners and covers almost 22% of installed cooling capacity worldwide. Additionally, as income levels continue to grow, AC ownership could reach as much as 85% by 2030.
  • The GCAP gives the cooling industry in China specific goals. Compared to 2022 levels, the energy efficiency of large public buildings should increase by 30%, the market share of green and efficient cooling products by 40%, and the energy efficiency of major cooling products by over 25% by 2030, resulting in yearly electricity savings of 400 billion kWh.
  • Moreover, in 2021, the production volume of air conditioners in China amounted to 218 million units, around eight million more than in the previous year.
  • The above factors and government support contribute to the increasing demand for the refrigeration lubricants market during the forecast period.

China Refrigeration Lubricants Industry Overview

The China refrigeration lubricants market is consolidated, where the top players capture most of the market demand. A few companies include Idemitsu Kosan Co. Ltd, Petronas Lubricants Belgium NV, JXTG Nippon Oil & Energy Corporation, China National Petroleum Corporation, and China Petroleum & Chemical Corporation (not in any particular order).

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Emergence of New-generation Lubricants Optimized for Energy Efficiency
4.1.2 Increasing Momentum in the Chinese HVACR Industry
4.2 Restraints
4.2.1 Phasing Out of Existing Refrigerants due to Regulations Amendments
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition

5 MARKET SEGMENTATION (Market Size in Value)
5.1 Base Oil
5.1.1 Mineral Oil Lubricant Paraffinic Oil Naphthenic Oil Aromatic Oil
5.1.2 Synthetic Lubricant Synthetic Hydrocarbon Polyalphaolefin (PAO) Alkylated Aromatics Polybutene Ester Diester Polyol Ester Phosphate Ester Polymer Ester Polyalkylene Glycols (PAG) Other Synthetic Lubricants
5.1.3 Other Base Oils
5.2 Application
5.2.1 Air Conditioning Transportation Automotive Other Modes of Transportation Other Air Conditioning Applications
5.2.2 Refrigeration

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 BP PLC
6.4.3 Chevron Corporation
6.4.4 China National Petroleum Corporation
6.4.5 China Petroleum & Chemical Corporation (SINOPEC GROUP)
6.4.6 Exxon Mobil Corporation
6.4.7 FUCHS
6.4.8 Idemitsu Kosan Co. Ltd
6.4.9 JX Nippon Oil & Energy Corporation
6.4.10 Kluber Lubrication
6.4.11 Petronas Lubricants Belgium NV
6.4.12 Royal Dutch Shell PLC

7.1 Augmenting Prominence for Lubricant Technology
7.2 Rise in the Demand from Cryogenic Applications

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • BP PLC
  • Chevron Corporation
  • China National Petroleum Corporation
  • China Petroleum & Chemical Corporation (SINOPEC GROUP)
  • Exxon Mobil Corporation
  • Idemitsu Kosan Co. Ltd
  • JX Nippon Oil & Energy Corporation
  • Kluber Lubrication
  • Petronas Lubricants Belgium NV
  • Royal Dutch Shell PLC