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Refrigeration Oil Market Size, Share & Trends Analysis Report By Product Type (Mineral, Synthetic, Semi Synthetic), By Application (Refrigerators, Air Conditioners, Automotive, Coolers & Conditioners), By Region, And Segment Forecasts, 2025 - 2033- Product Image
Refrigeration Oil Market Size, Share & Trends Analysis Report By Product Type (Mineral, Synthetic, Semi Synthetic), By Application (Refrigerators, Air Conditioners, Automotive, Coolers & Conditioners), By Region, And Segment Forecasts, 2025 - 2033- Product Image
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Refrigeration Oil Market Size, Share & Trends Analysis Report By Product Type (Mineral, Synthetic, Semi Synthetic), By Application (Refrigerators, Air Conditioners, Automotive, Coolers & Conditioners), By Region, And Segment Forecasts, 2025 - 2033

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    Report

  • 80 Pages
  • July 2025
  • Region: Global
  • Grand View Research
  • ID: 6154473
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Refrigeration Oil Market Summary

The global refrigeration oil market size was estimated at USD 1.07 billion in 2024 and is projected to reach USD 1.95 billion by 2033, growing at a CAGR of 7.0% from 2025 to 2033. This growth is attributed to the rising demand for new and innovative electronics, such as refrigerators, air conditioners, and automotive AC systems.

This growth in the electronics industry leads to technological advancements and product innovation, which in turn increases the demand for refrigeration oil. Moreover, the rising demand for frozen food, especially in countries like China and the U.S., is driving the need for efficient refrigeration systems and refrigeration oils. This presents an opportunity for manufacturers and suppliers in the product market.

The global lubricants market acts as the overarching parent segment for refrigeration oils, comprising a broad range of products engineered to minimize friction, manage heat, and improve the performance and durability of mechanical systems. It is divided into key categories such as automotive, industrial, marine, and specialty lubricants, each developed to meet distinct application needs and technical specifications.

The synthetic segment dominated the market. This growth is driven by rising air conditioner and refrigerator production, increased adoption of electric vehicles, and demand for energy-efficient cooling systems. Regulatory shifts toward low-GWP refrigerants are also accelerating the use of compatible synthetic oils, especially in automotive and commercial HVAC applications.

Moreover, the growing demand for frozen food, both domestically and for export, has contributed to the rise in product demand. The U.S. is a major player in the frozen food industry. With the increasing consumption of frozen food products, the requirement for reliable and efficient refrigeration systems has surged, subsequently boosting the demand for refrigeration oil.

Global Refrigeration Oil Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, the analyst has segmented the global refrigeration oil market report based on product type, application, and region:
  • Product Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2021 - 2033)
  • Mineral
  • Synthetic
  • Semi-Synthetic
  • Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2021 - 2033)
  • Air Conditioner
  • Refrigerators
  • Automotive
  • Coolers & Conditioners
  • Other Applications
  • Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2021 - 2033)
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Latin America
  • Brazil
  • Argentina
  • Middle East & Africa
  • Saudi Arabia
  • South Africa

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Refrigeration Oil Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Refrigeration Oil Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing Trends
3.2.3. Sales Channel Analysis
3.3. Price Trend Analysis, 2021-2033
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Industry Analysis Tools
3.5.1. Porter’s Five Forces Analysis
3.5.2. Macro-Environmental Analysis
Chapter 4. Refrigeration Oil Market: Product Type Estimates & Trend Analysis
4.1. Product Type Movement Analysis & Market Share, 2023 & 2033
4.2. Mineral
4.2.1. Mineral Refrigeration Oil Market Estimates & Forecast, By Application, 2021 To 2033 (Kilotons) (USD Billion)
4.3. Synthetic
4.3.1. Synthetic Refrigeration Oil Market Estimates And Forecasts, By Application, 2021 - 2033 (Kilotons) (USD Billion)
4.4. Semi-Synthetic
4.4.1. Semi-Synthetic Refrigeration Oil Market Estimates And Forecasts, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Chapter 5. Refrigeration Oil Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2023 & 2033
5.2. Air Conditioner
5.2.1. Air Conditioner Refrigeration Oil Market Estimates & Forecast, By Application, 2021 To 2033 (Kilotons) (USD Billion)
5.3. Refrigerators
5.3.1. Refrigerators Refrigeration Oil Market Estimates And Forecasts, By Application, 2021 - 2033 (Kilotons) (USD Billion)
5.4. Automotive
5.4.1. Automotive Refrigeration Oil Market Estimates And Forecasts, By Application, 2021 - 2033 (Kilotons) (USD Billion)
5.5. Food Paper & Pulp
5.5.1. Food Paper & Pulp Refrigeration Oil Market Estimates And Forecasts, By Application, 2021 - 2033 (Kilotons) (USD Billion)
5.6. Other Applications
5.6.1. Other Applications Refrigeration Oil Market Estimates And Forecasts, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Chapter 6. Refrigeration Oil Market: Regional Estimates & Trend Analysis
6.1. Regional Movement Analysis & Market Share, 2023 & 2033
6.2. North America
6.2.1. North America Refrigeration Oil Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.2.2. U.S.
6.2.2.1. Key Country Dynamics
6.2.2.2. U.S. Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.2.3. Canada
6.2.3.1. Key Country Dynamics
6.2.3.2. Canada Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.2.4. Mexico
6.2.4.1. Key Country Dynamics
6.2.4.2. Mexico Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.3. Europe
6.3.1. Europe Refrigeration Oil Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.3.2. Germany
6.3.2.1. Key Country Dynamics
6.3.2.2. Germany Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.3.3. UK
6.3.3.1. Key Country Dynamics
6.3.3.2. UK Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.3.4. France
6.3.4.1. Key Country Dynamics
6.3.4.2. France Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.3.5. Italy
6.3.5.1. Key Country Dynamics
6.3.5.2. Italy Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.3.6. Spain
6.3.6.1. Key Country Dynamics
6.3.6.2. Spain Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.4. Asia Pacific
6.4.1. Asia Pacific Refrigeration Oil Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.4.2. China
6.4.2.1. Key Country Dynamics
6.4.2.2. China Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.4.3. India
6.4.3.1. Key Country Dynamics
6.4.3.2. India Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.4.4. Japan
6.4.4.1. Key Country Dynamics
6.4.4.2. Japan Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.4.5. South Korea
6.4.5.1. Key Country Dynamics
6.4.5.2. South Korea Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.5. Latin America
6.5.1. Latin America Refrigeration Oil Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.5.2. Brazil
6.5.2.1. Key Country Dynamics
6.5.2.2. Brazil Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.5.3. Argentina
6.5.3.1. Key Country Dynamics
6.5.3.2. Argentina Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.6. Middle East & Africa
6.6.1. Middle East & Africa Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.6.2. Saudi Arabia
6.6.2.1. Key Country Dynamics
6.6.2.2. Saudi Arabia Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
6.6.3. South Africa
6.6.3.1. Key Country Dynamics
6.6.3.2. South Africa Refrigeration Oil Market Estimates & Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Chapter 7. Refrigeration Oil Market - Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company Categorization
7.3. Company Market Share/Position Analysis, 2023
7.4. Company Heat Map Analysis
7.5. Regional Market Analysis
7.6. Strategy Mapping
7.7. Company Profiles
7.7.1. INEOS
7.7.1.1. Participant’s Overview
7.7.1.2. Financial Performance
7.7.1.3. Product Benchmarking
7.7.1.4. Recent Developments
7.7.2. Idemitsu Kosan Co.,Ltd.
7.7.2.1. Participant’s Overview
7.7.2.2. Financial Performance
7.7.2.3. Product Benchmarking
7.7.2.4. Recent Developments
7.7.3. Exxon Mobil Corporation
7.7.3.1. Participant’s Overview
7.7.3.2. Financial Performance
7.7.3.3. Product Benchmarking
7.7.3.4. Recent Developments
7.7.4. Shell Global
7.7.4.1. Participant’s Overview
7.7.4.2. Financial Performance
7.7.4.3. Product Benchmarking
7.7.4.4. Recent Developments
7.7.5. TotalEnergies
7.7.5.1. Participant’s Overview
7.7.5.2. Financial Performance
7.7.5.3. Product Benchmarking
7.7.5.4. Recent Developments
7.7.6. China Petroleum & Chemical Corporation
7.7.6.1. Participant’s Overview
7.7.6.2. Financial Performance
7.7.6.3. Product Benchmarking
7.7.6.4. Recent Developments
7.7.7. FUCHS
7.7.7.1. Participant’s Overview
7.7.7.2. Financial Performance
7.7.7.3. Product Benchmarking
7.7.7.4. Recent Developments
7.7.8. PETRONAS Lubricants International
7.7.8.1. Participant’s Overview
7.7.8.2. Financial Performance
7.7.8.3. Product Benchmarking
7.7.8.4. Recent Developments
7.7.9. Jhonson Controls
7.7.9.1. Participant’s Overview
7.7.9.2. Financial Performance
7.7.9.3. Product Benchmarking
7.7.9.4. Recent Developments
List of Tables
Table 1 List of Potential End-Users
Table 2 Regulatory Framework, by Regions
Table 3 List of Raw Material Suppliers
Table 4 U.S. Macroeconomic Outlay
Table 5 Canada Macroeconomic Outlay
Table 6 Mexico Macroeconomic Outlay
Table 7 Germany Macroeconomic Outlay
Table 8 UK Macroeconomic Outlay
Table 9 France Macroeconomic Outlay
Table 10 Italy Macroeconomic Outlay
Table 11 Spain Macroeconomic Outlay
Table 12 China Macroeconomic Outlay
Table 13 India Macroeconomic Outlay
Table 14 Japan Macroeconomic Outlay
Table 15 South Korea Macroeconomic Outlay
Table 16 Brazil Macroeconomic Outlay
Table 17 Argentina Macroeconomic Outlay
Table 18 Saudi Arabia Macroeconomic Outlay
Table 19 South Africa Macroeconomic Outlay
Table 20 Participant's Overview
Table 21 Financial Performance
Table 22 Product Benchmarking
Table 23 Company Heat Map Analysis
Table 24 Key Strategy Mapping
List of Figures
Fig. 1 Refrigeration Oil Market Segmentation
Fig. 2 Information Procurement
Fig. 3 Data Analysis Models
Fig. 4 Market Production and Validation
Fig. 5 Data Validating & Publishing
Fig. 6 Refrigeration Oil Market Snapshot
Fig. 7 Refrigeration Oil Market Segmental Outlook, 2023 (Kilotons) (USD Billion)
Fig. 8 Refrigeration Oil Market: Competitive Insights
Fig. 9 Global Refrigeration Oil Market, 2023 (Kilotons) (USD Billion)
Fig. 10 Global Refrigeration Oil Market Value Chain Analysis
Fig. 11 Refrigeration Oil Market Dynamics
Fig. 12 Refrigeration Oil Market: Porter's Analysis
Fig. 13 Refrigeration Oil Market: Pestel Analysis
Fig. 14 Refrigeration Oil Market Analysis & Segment Forecast, By Product Type, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 15 Mineral Refrigeration Oil Market Analysis & Segment Forecast, By Product Type, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 16 Synthetic Refrigeration Oil Market Analysis & Segment Forecast, By Product Type, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 17 Semi-Synthetic Refrigeration Oil Market Analysis & Segment Forecast, By Product Type, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 18 Refrigeration Oil Market Analysis & Segment Forecast, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 19 Air Conditioner Refrigeration Oil Market Analysis & Segment Forecast, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 20 Refrigerators Refrigeration Oil Market Analysis & Segment Forecast, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 21 Automotive Refrigeration Oil Market Analysis & Segment Forecast, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 22 Coolers & Conditioners Refrigeration Oil Market Analysis & Segment Forecast, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 23 Other Applications Refrigeration Oil Market Analysis & Segment Forecast, By Application, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 24 Refrigeration Oil Market Analysis & Segment Forecast, By Region, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 25 North America Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 26 U.S. Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 27 Canada Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 28 Mexico Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 29 Europe Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 30 Germany Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 31 UK Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 32 France Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 33 Italy Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 34 Spain Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 35 Asia Pacific Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 36 China Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 37 India Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 38 Japan Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 39 South Korea Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 40 Latin America Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 41 Brazil Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 42 Argentina Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 43 Middle East & Africa Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 44 Saudi Arabia Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 45 South Africa Refrigeration Oil Market Analysis & Segment Forecast, 2021 - 2033 (Kilotons) (USD Billion)
Fig. 46 Refrigeration Oil Market: Company Categorization
Fig. 47 Refrigeration Oil Market: Company Market Share Analysis
Fig. 48 Refrigeration Oil Market: Company Market Positioning Analysis
Fig. 49 Refrigeration Oil Market: Strategy Mapping

Companies Mentioned

  • INEOS
  • Idemitsu Kosan Co., Ltd.
  • Exxon Mobil Corporation
  • Shell Global
  • TotalEnergies
  • China Petroleum & Chemical Corporation
  • FUCHS
  • PETRONAS Lubricants International
  • Johnson Controls

Table Information

Report AttributeDetails
No. of Pages80
PublishedJuly 2025
Forecast Period2024 - 2033
Estimated Market Value ( USD ) in 2024 $ 1.07 Billion
Forecasted Market Value ( USD ) by 2033 $ 1.95 Billion
Compound Annual Growth Rate7.0%
Regions CoveredGlobal
No. of Companies Mentioned9

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