Refrigeration Oil Market Scope

The Refrigeration Oil Market report offers insights into the Latest growth and trends, It summarizes crucial aspects of the market, with target on leading key player’s areas that have witnessed the highest demand, Top leading regions and operations. According to the new market research report  "Refrigeration Oil Market by Type (Synthetic Oil (POE, PAG), Mineral Oil), Application (Refrigerators & Freezers, Air conditioner, Automotive AC System, Aftermarket), & Region(APAC, North America, South America, Europe, & MEA) - Global Forecasts to 2026", published by MarketsandMarkets™, the Refrigeration Oil Market size is projected to reach USD 1.4 billion by 2026, at a CAGR of 4.1% from USD 1.1 billion in 2021.

Browse in-depth TOC on "Refrigeration Oil Market"

213 – Tables
58 – Figures
226 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=126068118

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.

Synthetic oil is the largest oil type of refrigeration oil market.

Synthetic oil accounted for the largest share of the overall refrigeration oil market, in terms of value, in 2020. Synthetic oil is manufactured by combining synthetic base oils and additives. It has several advantages over conventional mineral oil due to its high performance in extreme conditions, better viscosity index, higher shear stability, and improved chemical resistance. In addition, its compatibility with low GWP and modern refrigerants gives them an added advantage over mineral oil.

Refrigerators & Freezers is estimated to be the largest application of the refrigeration oil market during the forecast period.

Refrigerator & freezer is the largest application of refrigeration oil. This growth is attributed to the rising demand for perishable food items and changing the lifestyle of people in developed and developing regions. Refrigeration oil is used in domestic, commercial, and industrial refrigerators & freezers. In addition, the growing demand for refrigerated food products and increasing trade of food products are driving the refrigeration oil market in the refrigerator & freezer application.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=126068118

APAC is estimated to be the largest market for refrigeration oil during the forecast period.

APAC is the largest market for refrigeration oil, followed by North America and Europe. APAC dominates the refrigeration oil market due to the rapid economic growth, particularly in the consumer goods and automobile industries in the region. The rapid urbanization in APAC, coupled with the improved living standard is driving the refrigeration oil market.  The advantage of shifting production to the Asian region is that the cost of production is low here. Also, it is easier to serve the local emerging market. Also, due to the massive production and demand for consumer appliances and automobiles in countries such as China, Japan, India, and South Korea. This high growth is attributed to the growing manufacturing of consumer goods and automobile in the region.

Refrigeration Oil Market Key Players

The key market players profiled in the report include -

• Eneos Holdings Inc. (Japan)
• BASF SE (Germany)
• Idemitsu Kosan Co. Ltd (Japan)
• ExxonMobil Corporation (U.S.)
• Royal Dutch Shell Plc. (Netherlands)
• Total Energies SE(France)
• China Petrochemical Corporation (Sinopec Corp)
• Petroliam Nasional Berhad(Petronas)
• FUCHS Petrolub SE (Germany)
• Johnson Controls(Ireland)

Reasons for Buying this Report

• This report provides pin-point analysis for changing competitive dynamics
• It provides a forward-looking perspective on different factors driving or restraining market growth
• It provides a six-year forecast assessed based on how the market is predicted to grow
• It helps in understanding the key product segments and their future
• It provides pinpoint analysis of changing competition dynamics and keeps you ahead of competitors
• It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

*** Also Browse Trending Report of MNM ***

https://www.marketsandmarkets.com/Market-Reports/chlor-alkali-market-708.html

https://www.marketsandmarkets.com/Market-Reports/fluor-polymer-market-497.html

https://www.marketsandmarkets.com/Market-Reports/asphalt-additive-market-156734514.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]