Refrigeration is a process of transferring heat from one location to another in controlled conditions. Refrigeration has many applications such as household refrigerators, industrial freezers, cryogenics, air conditioning etc. in food and beverage sector, petrochemical, chemical, and pharmaceutical industries, natural gas liquefaction, infrastructure facilities and ice factories. It is a cyclic process, commonly known as cyclic refrigeration which describes the changes in the refrigerants as it internally absorbs and rejects heat as it circulates through a refrigerator. Components such as compressor, condenser, evaporator, expansion valve etc. are set up in a cyclic process to facilitate heat transfer from a high-temperature source to the surroundings.
Lubrication plays a significant role in the refrigeration process as the components of the compressors should be maintained in a hermetic environment. The choice of a lubricant depends on the compatibility such as miscibility, net viscosity of the mixture etc. with the refrigerant that is used in the compressor as it moves along the refrigerant as a mixture (working fluid) in the cycle and it has multitudes of application in the refrigeration industry. Refrigeration lubricant must lubricate internal parts of the cycle, remove heat generated due to compression, and keep the system clean, act as a fluid seal for non-contact surfaces that require sealing, be stable enough over the lifetime of the compressor and reduce the energy requirements. It also helps to control foam formation and reduce noise generation by the moving parts of a compressor.
Refrigeration lubricants market is foreseen to grow considerably due to the increase in the global cold chain industry which includes transportation of food materials, chemicals that needed refrigeration and increase of demand in the automotive industry. Market demand will also be benefited from synthetics growth in the lubricant market, as well as increasing stringent environmental standards and the availability of new and high quality base stock for refrigeration lubricants.
Global Refrigeration Lubricants market is segmented on the basis of base oils into mineral oil lubricants, synthetic lubricants, and others. The mineral oil lubricants segmented is further drilled down into paraffinic oils, naphthenic oils, and aromatic oils. Synthetic lubricants are further segmented into synthetic hydrocarbons [polyalphaolefins (PAO), alkylated aromatics, and polybutenes), esters (diesters, polyol esters, phosphate esters, and polymer esters), polyalkylene glycols, and others. On the basis on application, the global refrigeration lubricants market is segmented into air conditioning (residential, industrial, transportation, and commercial), refrigeration compressors, production of soft drinks, and others.
Additionally, the market has been segmented on the basis of geography into Asia-Pacific (China, India, Japan, South Korea, ASEAN Countries, Australia & New Zealand, and Rest of Asia-pacific), Europe (Germany, UK, Italy, France, and Rest of Europe), North America (United States, Canada, Mexico, and Rest of North America), South America (Brazil, Argentina, and Rest of South America), and Middle-East & Africa (Saudi Arabia, Qatar, UAE, South Africa, and Rest of MEA). Asia-Pacific is anticipated to dominate the global refrigerant global market with the highest CAGR. Some of the major companies in the refrigeration lubricants market are BASF SE (Germany), The Lubrizol Corporation (U.S.), The Dow Chemical Co. (U.S), JX Nippon Oil & Energy Corp & others.
1.2 Research Methodology
1.3 Scope of the Study
2. Executive Summary
3. Refrigeration Lubricants Market
3.2 Industry Value Chain Analysis
3.3 Government Regulations and Policies
3.4 Industry Attractiveness Porters 5 Force Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Consumers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Dynamics
4.1.1 Expansion of the Global Cold Chain Market
4.1.2 Usage as alternatives for Gaseous Refrigerants
4.2.1 Constant Amendment of Montreal Protocol
4.2.2 Commencement of new European F-Gases Regulations
4.3.1 High Demand from the Asia Pacific Region
5. Market Segmentation and Analysis
5.1 By Base Oils
5.1.1 Mineral Oil Lubricants
220.127.116.11 Paraffinic Oils
18.104.22.168 Naphthenic Oils
22.214.171.124 Aromatic Oils
5.1.2 Synthetic Lubricants
126.96.36.199 Synthetic Hydrocarbons
188.8.131.52.1 Polyalphaolefins (PAO)
184.108.40.206.2 Alkylated Aromatics
220.127.116.11.2 Polyol Esters
18.104.22.168.3 Phosphate Esters
22.214.171.124.4 Polymer esters
126.96.36.199 Polyalkylene Glycols (PAG)
5.2 By Application
5.2.1 Air Conditioning
5.2.2 Refrigeration Compressors
5.2.3 Production of Soft Drinks
6. Regional Market Analysis (Market size, growth and forecast)
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Australia & New Zealand
6.1.7 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.5 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle-East & Africa
6.5.1 Saudi Arabia
6.5.4 South Africa
6.5.5 Rest of MEA
7. Future of Refrigeration Lubricants Market
8. Competitive Landscape
8.1 Mergers & Acquisitions
8.2 Joint Ventures, Collaborations and Agreements
8.3 Market Share Analysis
8.4 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Products & Services, Financials, Recent Developments)
9.2 Exxon Mobil
9.3 Nyco SA
9.4 IKV Tribology
9.6 PMC Biogenix Inc.
9.7 Calumet Specialty Products Partners, L.P.
9.8 Chevron U.S.A Inc.
9.9 FUCHS Lubricants
9.10 National Refrigerants, Inc.
9.12 JX Nippon Oil & Energy Corp.
9.13 Total Specialities USA Inc.
9.16 BVA Oil
9.17 Matrix Specialty Lubricants BV.
9.18 Kluber Lubrication
*(List Not Exhaustive)