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 2022

  • ID: 4496064
  • Report
  • Region: Global
  • 132 Pages
  • Markets and Markets
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Refrigeration Oil Market Estimated to be USD 1,005.2 Million in 2017 and is Projected to Reach USD 1,243.6 Million by 2022, at a CAGR of 4.3%

FEATURED COMPANIES

  • BASF SE
  • BVA, Inc.
  • Exxonmobil Corporation
  • Isel
  • Lukoil
  • Sun Company, Inc.
  • MORE

"Increasing demand for freezers and refrigerators expected to drive the refrigeration oil market."

The refrigeration oil market is estimated to be USD 1,005.2 million in 2017 and is projected to reach USD 1,243.6 million by 2022, at a CAGR of 4.3% between 2017 and 2022. The refrigeration oil market is largely driven by the rising demand for consumer appliances and automobiles. Refrigeration oil is used for lubrication in compressors and reduces friction of metal parts thereby reducing the wear and tear of compressors in consumer appliances and automotive AC systems. The growing demand for refrigeration oil from the food and pharmaceutical industries along with the rising demand for low GWP refrigerants are other factors expected to drive the refrigeration oil market. However, the stringent regulations to limit the use of fluorocarbon refrigerants is one of the major restraints for the growth of the market.

"The POE oil type segment is expected to be the fastest-growing segment of the refrigeration oil market, in terms of value, from 2017 to 2022."

The POE oil type segment is expected to witness the highest growth, in terms of value, from 2017 to 2022. POE oil has high thermal stability and excellent wear performance; its usage in all applications is one of the key factors expected to drive the growth of this oil type in the coming years.

"The refrigerator & freezer application segment is expected to be the fastest-growing segment of the refrigeration oil market, in terms of value, from 2017 and 2022."

The refrigerator & freezer segment is estimated to be the fastest-growing application segment between 2017 and 2022, in terms of both, value and volume. The growth of the segment can be attributed to the increasing demand and manufacture of refrigerators and freezers in APAC. The region accounts for more than two-thirds of the global demand for refrigerators and freezers. This is majorly due to the increasing urbanization and rapid industrialization in the region.

"APAC is expected to be the fastest-growing market during the forecast period, in terms of value and volume."

The growing demand for consumer appliances and automobiles is expected to fuel the growth of the refrigeration oil market in the Asia Pacific region. In addition, the rising population and increasing disposable income in countries such as China and India are further fueling the growth of the consumer appliances and automotive industries in APAC, thereby driving the refrigeration oil market.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, primary interviews were conducted as follows:

  • By Company Type: Tier 1 (75%), Tier 2 (20%), and Tier 3 (5%)
  • By Designation: C-Level (28%), Director Level (52%), and Others (20%)
  • By Region: Europe (50%), APAC (25%), Middle East & Africa (12%) North America (7%), and South America (6%).

Key players profiled in the report include JXTG Group (Japan), BASF (Germany), Idemitsu Kosan Co. (Japan), Royal Dutch Shell (Netherlands), ExxonMobil (US), BP (UK), PETRONAS (Malaysia), Chevron (US), Total (France), Sinopec Group (China), FUCHS (Germany), Johnson Controls (Ireland), Lubrizol (CPI Fluid Engineering Services) (US), Behr Hella Service GmbH (Germany), BVA, Inc. (US), Calumet Specialty Products Partners, L.P. (US), CAMCO Lubricants (US), CITGO Petroleum Corporation (US), Cosmo Oil Lubricants Co., Ltd. (Japan), Eni (Italy), Indian Oil Corporation (India), Isel (US), National Refrigerants, Inc. (US), Summit Oil Company (US), Lubriplate Lubricants Company (US), Lukoil (Russia), Petro-Canada Lubricants, Inc. (Canada), Phillips 66 Lubricants (US), and Sun Company, Inc. (US).

Research Coverage

This report segments the market for refrigeration oil on the basis of oil type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, agreements, partnerships, and recent developments associated with the market for refrigeration oil.

Reasons to Buy This Report

This research report is focused on various levels of analyses-industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together comprise and discuss the overall view on the competitive landscape; emerging and high-growth segments of the refrigeration oil market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on refrigeration oil offered by top players in the global refrigeration oil market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the refrigeration oil market.
  • Market Development: Comprehensive information about lucrative emerging markets-the report analyzes the markets for refrigeration oil across regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the global refrigeration oil market.
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the refrigeration oil market.
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FEATURED COMPANIES

  • BASF SE
  • BVA, Inc.
  • Exxonmobil Corporation
  • Isel
  • Lukoil
  • Sun Company, Inc.
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Significant Opportunities in the Refrigeration Oil Market
    4.2 Refrigeration Oil Market, By Region
    4.3 APAC Refrigeration Oil Market, By Application and Country
    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 From 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
           5.2.3 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
           5.3.1 Threat of New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Macroeconomic Indicators
           5.4.1 GDP of Major Countries
           5.4.2 Automotive Industry Analysis

6 Refrigeration Oil Market, By Oil Type
    6.1 Introduction
    6.2 Synthetic Oil
           6.2.1 POE
           6.2.2 PAG
           6.2.3 Others
                    6.2.3.1 PAO
                    6.2.3.2 PVE
                    6.2.3.3 AB
                    6.2.3.4 Blends
    6.3 Mineral Oil

7 Refrigeration Oil Market, By Application
    7.1 Introduction
    7.2 Refrigerator & Freezer
                    7.2.1.1 Domestic Refrigerator & Freezer
                    7.2.1.2 Commercial Refrigerator & Freezer
                    7.2.1.3 Industrial Refrigerator & Freezer
    7.3 Air Conditioner
                    7.3.1.1 Domestic Air Conditioner
                    7.3.1.2 Commercial Air Conditioner
    7.4 Automotive Ac System
    7.5 Aftermarket

8 Refrigeration Oil Market, By Region
    8.1 Introduction
    8.2 APAC
           8.2.1 China
           8.2.2 Japan
           8.2.3 India
           8.2.4 South Korea
           8.2.5 Thailand
           8.2.6 Indonesia
           8.2.7 Vietnam
           8.2.8 Taiwan
           8.2.9 Rest of APAC
    8.3 North America
           8.3.1 US
           8.3.2 Mexico
           8.3.3 Canada
    8.4 Europe
           8.4.1 Italy
           8.4.2 Germany
           8.4.3 Russia
           8.4.4 France
           8.4.5 UK
           8.4.6 Rest of Europe
    8.5 Middle East & Africa
           8.5.1 Turkey
           8.5.2 Iran
           8.5.3 South Africa
           8.5.4 Rest of the Middle East & Africa
    8.6 South America
           8.6.1 Brazil
           8.6.2 Argentina
           8.6.3 Rest of South America

9 Competitive Landscape
    9.1 Overview
    9.2 Market Ranking of Key Players
    9.3 Competitive Scenario
           9.3.1 Expansion
           9.3.2 Agreement
           9.3.3 Joint Venture
           9.3.4 New Product Launch
           9.3.5 Partnership

10 Company Profiles
     10.1 Jxtg Group
     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 Group)
     10.8 Petroliam Nasional Berhad (PETRONAS)
     10.9 FUCHS Petrolub Se
     10.10 Johnson Controls
     10.11 The Lubrizol Corporation
     10.12 BP P.L.C.
     10.13 Chevron Corporation
     10.14 Other Key Market Players
             10.14.1 Behr Hella Service Gmbh
             10.14.2 BVA, Inc.
             10.14.3 Calumet Specialty Products Partners, L.P.
             10.14.4 CAMCO Lubricants
             10.14.5 CITGO Petroleum Corporation
             10.14.6 Cosmo Oil Lubricants Co., Ltd.
             10.14.7 Ente Nazionale Idrocarburi (Eni)
             10.14.8 Indian Oil Corporation Ltd.
             10.14.9 Isel
             10.14.10 National Refrigerants, Inc.
             10.14.11 Summit Oil Company, Inc. (Klüber Lubrication Na Lp)
             10.14.12 Lubriplate Lubricants Company
             10.14.13 Lukoil
             10.14.14 Petro-Canada Lubricants Inc.
             10.14.15 Phillips 66 Lubricants
             10.14.16 Sun Company, Inc.

List of Tables
Table 1 Most Common Refrigerants and their Compatibility
Table 2 GDP of Major Countries, 2011-2016 (USD Billion)
Table 3 Vehicle Production in Number of Units, By Region, 2016
Table 4 Refrigeration Oil Market Size, By Oil Type, 2015-2022 (Kiloton)
Table 5 Refrigeration Oil Market Size, By Oil Type, 2015-2022 (USD Million)
Table 6 Synthetic Oil Market Size, By Type, 2015-2022 (Kiloton)
Table 7 Synthetic Oil Market Size, By Type, 2015-2022 (USD Million)
Table 8 Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 9 Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 10 Refrigeration Oil Market Size in Refrigerator & Freezer, By Region, 2015-2022 (Kiloton)
Table 11 Refrigeration Oil Market Size in Refrigerator & Freezer, By Region, 2015-2022 (USD Million)
Table 12 Refrigeration Oil Market Size in Air Conditioner, By Region, 2015-2022 (Kiloton)
Table 13 Refrigeration Oil Market Size in Air Conditioner, By Region, 2015-2022 (USD Million)
Table 14 Refrigeration Oil Market Size in Automotive Ac System, By Region, 2015-2022 (Kiloton)
Table 15 Refrigeration Oil Market Size in Automotive Ac System, By Region, 2015-2022 (USD Million)
Table 16 Refrigeration Oil Market Size in Aftermarket, By Region, 2015-2022 (Kiloton)
Table 17 Refrigeration Oil Market Size in Aftermarket, By Region, 2015-2022 (USD Million)
Table 18 Refrigeration Oil Market Size, By Region, 2015-2022 (Kiloton)
Table 19 Refrigeration Oil Market Size, By Region, 2015-2022 (USD Million)
Table 20 APAC: Refrigeration Oil Market Size, By Country, 2015-2022 (Kiloton)
Table 21 APAC: Refrigeration Oil Market Size, By Country, 2015-2022 (USD Million)
Table 22 APAC: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 23 APAC: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 24 China: Refrigeration Oil Market Size, By Application,2015-2022 (Kiloton)
Table 25 China: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 26 Japan: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 27 Japan: Refrigeration Oil Market Size, By Application,2015-2022 (USD Million)
Table 28 India: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 29 India: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 30 South Korea: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 31 South Korea: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 32 Thailand: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 33 Thailand: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 34 Indonesia: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 35 Indonesia: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 36 Vietnam: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 37 Vietnam: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 38 Taiwan: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 39 Taiwan: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 40 Rest of APAC: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 41 Rest of APAC: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 42 North America: Refrigeration Oil Market Size, By Country, 2015-2022 (Kiloton)
Table 43 North America: Refrigeration Oil Market Size, By Country, 2015-2022 (USD Million)
Table 44 North America: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 45 North America: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 46 US: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 47 US: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 48 Mexico: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 49 Mexico: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 50 Canada: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 51 Canada: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 52 Europe: Refrigeration Oil Market Size, By Country, 2015-2022 (Kiloton)
Table 53 Europe: Refrigeration Oil Market Size, By Country, 2015-2022 (USD Million)
Table 54 Europe: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 55 Europe: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 56 Italy: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 57 Italy: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 58 Germany: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 59 Germany: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 60 Russia: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 61 Russia: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 62 France: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 63 France: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 64 UK: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 65 UK: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 66 Rest of Europe: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 67 Rest of Europe: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 68 Middle East & Africa: Refrigeration Oil Market Size, By Country, 2015-2022 (Kiloton)
Table 69 Middle East & Africa: Refrigeration Oil Market Size, By Country, 2015-2022 (USD Million)
Table 70 Middle East & Africa: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 71 Middle East & Africa: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 72 Turkey: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 73 Turkey: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 74 Iran: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 75 Iran: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 76 South Africa: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 77 South Africa: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 78 Rest of the Middle East & Africa: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 79 Rest of the Middle East & Africa: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 80 South America: Refrigeration Oil Market Size, By Country, 2015-2022 (Kiloton)
Table 81 South America: Refrigeration Oil Market Size, By Country, 2015-2022 (USD Million)
Table 82 South America: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 83 South America: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 84 Brazil: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 85 Brazil: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 86 Argentina: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 87 Argentina: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 88 Rest of South America: Refrigeration Oil Market Size, By Application, 2015-2022 (Kiloton)
Table 89 Rest of South America: Refrigeration Oil Market Size, By Application, 2015-2022 (USD Million)
Table 90 Expansion, 2013-2017
Table 91 Agreement, 2013-2017
Table 92 Joint Venture, 2013-2017
Table 93 New Product Launch, 2013-2017
Table 94 Partnership, 2013-2017

List of Figures
Figure 1 Refrigeration Oil Market Segmentation
Figure 2 Refrigeration Oil Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Refrigeration Oil Market: Data Triangulation
Figure 6 Synthetic Oil to Dominate the Refrigeration Oil Market Between 2017 and 2022
Figure 7 Poe to Lead the Synthetic Oil Market Between 2017 and 2022
Figure 8 Refrigerator & Freezer to Be the Fastest-Growing ApplicationOf Refrigeration Oil Between 2017 and 2022
Figure 9 APAC Accounted for the Largest Market Share in 2016
Figure 10 Refrigeration Oil Market to Witness Moderate Growth Between 2017 and 2022
Figure 11 APAC to Be Largest Refrigeration Oil Market Between 2017 and 2022
Figure 12 China Accounted for the Largest Share of the Refrigeration Oil Market in 2016
Figure 13 India to Register the Highest Cagr Between 2017 and 2022
Figure 14 Overview of Factors Governing the Refrigeration Oil Market
Figure 15 Porter’s Five Forces Analysis of the Refrigeration Oil Market
Figure 16 Synthetic Oil to Be Largest Segment of the Market Between 2017 and 2022
Figure 17 Poe is Estimated to Hold the Largest Share of the Synthetic Oil Market Between 2017 and 2022
Figure 18 Refrigerator & Freezer to Lead the Refrigeration Oil Market Between 2017 and 2022
Figure 19 APAC to Be the Largest Refrigeration Oil Market in the Refrigerator & Freezer Application During the Forecast Period
Figure 20 APAC to Be the Largest Refrigeration Oil Market in the Air Conditioner Application Between 2017 and 2022
Figure 21 North America to Be the Fastest-Growing Refrigeration Oil Market in the Automotive Ac System Application Between 2017 and 2022
Figure 22 APAC to Be the Fastest-Growing Refrigeration Oil Market in the Aftermarket Application Between 2017 and 2022
Figure 23 APAC to Register the Highest Cagr During the Forecast Period
Figure 24 APAC Refrigeration Oil Market Snapshot
Figure 25 North American Refrigeration Oil Market Snapshot
Figure 26 Companies Adopted Expansion as the Key Growth Strategy Between 2013 and 2017
Figure 27 Ranking of Key Market Players in 2016
Figure 28 Jxtg Group: Company Snapshot
Figure 29 BASE SE: Company Snapshot
Figure 30 Idemitsu Kosan Co., Ltd.: Company Snapshot
Figure 31 Exxonmobil Corporation: Company Snapshot
Figure 32 Royal Dutch Shell Plc: Company Snapshot
Figure 33 Total S.A.: Company Snapshot
Figure 34 Sinopec Group: Company Snapshot
Figure 35 Petroliam Nasional Berhad (PETRONAS): Company Snapshot
Figure 36 FUCHS Petrolub Se: Company Snapshot
Figure 37 Johnson Controls: Company Snapshot
Figure 38 BP P.L.C.: Company Snapshot
Figure 39 Chevron Corporation: Company Snapshot

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FEATURED COMPANIES

  • BASF SE
  • BVA, Inc.
  • Exxonmobil Corporation
  • Isel
  • Lukoil
  • Sun Company, Inc.
  • MORE

The refrigeration oil market is estimated to be USD 1,005.2 Million in 2017 and is projected reach USD 1,243.6 Million by 2022, at a CAGR of 4.3% between 2017 and 2022. The growth of the market is driven by the increasing demand for consumer appliances, growing demand from the food and pharmaceutical industries, and rising demand for low GWP refrigerants.

On the basis of oil type, the market has been segmented into mineral oil and synthetic oil. The synthetic oil segment is further subsegmented into polyolester (POE), polyalkylene glycol (PAG), and others (polyalphaolefin (PAO), alkyl benzene (AB), polyvinylether (PVE), and blends). The synthetic oil segment is estimated to dominate the refrigeration oil market in 2017 in terms of value and volume. This dominance can be attributed to its high performance in extreme conditions, better viscosity index, higher shear stability, and improved chemical resistance in comparison to mineral oil. In addition, synthetic oil lasts longer and is compatible with low GWP and modern refrigerants such as NH3, HFO, and CO2.

On the basis of application, the refrigeration oil market has been segmented into refrigerators & freezers, air conditioners, automotive AC systems, and the aftermarket. The refrigerator & freezer application segment is estimated to dominate the refrigeration oil market in 2017 and is projected to register the highest CAGR in terms of both, value and volume during the forecast period. This growth can be attributed to the growing demand for packaged food products and growth in the trade of food products.

APAC is estimated to be the largest refrigeration oil market in 2017 in terms of both, value and volume. It is also estimated to witness the highest growth during the forecast period. This growth can be attributed to the rise in the manufacturing of consumer appliances and automobiles in the region. Furthermore, the changing lifestyle of consumers and their rising income levels have led to a 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 and freezers, further fueling the growth of the refrigeration oil market in the region.

Refrigeration Oil Market

Stringent regulations to limit the use of fluorocarbon refrigerants is the major restraint for the growth of the refrigeration oil market.

New product launches, partnerships, agreements, joint ventures, and expansions were key strategies adopted by players in the refrigeration oil market. Major players in the refrigeration oil market include JXTG Group (Japan), BASF(Germany), Idemitsu Kosan Co. (Japan), Royal Dutch Shell (Netherlands), ExxonMobil (US), BP (UK), PETRONAS (Malaysia), Chevron (US), Total (France), Sinopec Group (China), FUCHS (Germany), Johnson Controls (Ireland), Lubrizol (CPI Fluid Engineering Services) (US), Behr Hella Service GmbH (Germany), BVA, Inc. (US), Calumet Specialty Products Partners, L.P. (US), CAMCO Lubricants (US), CITGO Petroleum Corporation (US), Cosmo Oil Lubricants Co., Ltd. (Japan), Eni (Italy), Indian Oil Corporation (India), Isel (US), National Refrigerants, Inc. (US), Summit Oil Company (US), Lubriplate Lubricants Company (US), Lukoil (Russia), Petro-Canada Lubricants Inc. (Canada), Phillips 66 Lubricants (US), and Sun Company, Inc. (US).

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  • BASF SE
  • BP P.L.C.
  • BVA, Inc.
  • Behr Hella Service Gmbh
  • CAMCO Lubricants
  • CITGO Petroleum Corporation
  • Calumet Specialty Products Partners, L.P.
  • Chevron Corporation
  • China Petrochemical Corporation (Sinopec Group)
  • Cosmo Oil Lubricants Co., Ltd.
  • Ente Nazionale Idrocarburi (Eni)
  • Exxonmobil Corporation
  • FUCHS Petrolub Se
  • Idemitsu Kosan Co., Ltd.
  • Indian Oil Corporation Ltd.
  • Isel
  • Johnson Controls
  • Jxtg Group
  • Lubriplate Lubricants Company
  • Lukoil
  • National Refrigerants, Inc.
  • Petro-Canada Lubricants Inc.
  • Petroliam Nasional Berhad (PETRONAS)
  • Phillips 66 Lubricants
  • Royal Dutch Shell Plc
  • Summit Oil Company, Inc. (Klüber Lubrication Na Lp)
  • Sun Company, Inc.
  • The Lubrizol Corporation
  • Total S.A.
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