Refrigeration Oil Market

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 2024

Report Code: CH 6139 Aug, 2019, by marketsandmarkets.com

[125 Pages Report] The refrigeration oil market size is projected to reach USD 1.4 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 4.7%. The growth of the market is driven by the increasing demand for consumer appliances, growing demand from food & pharmaceutical industries, and rising demand for low GWP refrigerants. Also, increasing consumption of packaged food products is expected to drive the refrigeration oil market. APAC is the key market for refrigeration oil, globally, followed by North America and Europe.

Refrigeration Oil Market

Synthetic oil is expected to lead the refrigeration oil market during the forecast period

Based on the oil type, the refrigeration oil market has been segmented into synthetic oil and mineral oil. The synthetic oil segment is estimated to lead the refrigeration oil market in terms of value. This dominance is attributed to its high performance in extreme conditions, superior viscosity index, high shear stability, and enhanced chemical resistance in comparison to mineral oil. Additionally, synthetic oil lasts longer and is compatible with low GWP and modern refrigerants such as NH3, HFO, and CO2.

Refrigerator & freezer are projected to be the largest application of refrigeration oil during the forecast period

The refrigerator & freezer segment is expected to dominate the refrigeration oil market during the forecast period in terms of value. This growth is attributed to the growing demand for perishable food products and growth in trade of food products. The rising sales of refrigerators & freezers are anticipated to drive the growth of the market over the forecast period.

Refrigeration Oil Market

APAC is expected to account for the largest share of the refrigeration oil market during the forecast period.

The presence of various refrigeration oil players, such as JXTG Group (Japan), Idemitsu Kosan Co., Ltd. (Japan), China Petrochemical Corporation (Sinopec Group) (China), Indian Oil Corporation Ltd. (India), and PETRONAS (Malaysia)., have a positive impact on the market. In addition, growth in refrigerator & freezer, air conditioner, automotive AC systems, and aftermarket sales in the region is increasing the demand for refrigeration oil.

Key Market Players

The key market players profiled in the report include as JXTG Group (Japan), BASF SE (Germany), Idemitsu Kosan Co., Ltd. (Japan), Royal Dutch Shell plc (Netherlands), ExxonMobil Corporation (US), BP p.l.c. (UK), PETRONAS (Malaysia), Chevron Corporation (US), Total S.A. (France), Sinopec Group (China), FUCHS PETROLUB SE (Germany), Johnson Controls (Ireland), and The Lubrizol Corporation (CPI Fluid Engineering Services) (US).

BASF is developing its refrigeration oil business by focussing on joint ventures and expansions to remain competitive in the refrigeration oil market. In May 2019, the company expanded its production capacity of antioxidants for lubricants in China and Mexico due to the increasing global demand for long-life lubricant additives, which will, in turn, will increase the requirement for refrigeration oil.

Idemitsu Kosan Co. focused on joint ventures, agreements, and expansions to remain competitive in the refrigeration oil market. In October 2017, the company started operating a service station business in Hanoi, Vietnam.

Scope of the Report

Report Metric

Details

Years considered for the study  2017-2024

Base year considered

 2018
Forecast period  2019–2024
Units considered Value (USD million)
Segments covered Oil Type, application, and region
Regions covered APAC, North America, Europe, Middle East & Africa, and South America.
Companies profiled XTG 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).
Top 25 major players covered

This report categorizes the global refrigeration oil market based on oil type, application, and region.

Based on the Oil Type, the refrigeration oil market has been segmented as follows:

  • Synthetic Oil
  • Mineral Oil

On the basis of Application, the refrigeration oil market has been segmented as follows:

  • Refrigerator & Freezer
  • Air Conditioner
  • Automotive AC System
  • Aftermarket

Based on the Region, the refrigeration oil market has been segmented as follows:

  • APAC
  • North America
  • Europe
  • Middle East & Arica
  • South America  

Recent Developments

  • In May 2018, PETRONAS entered into an agreement to acquire 25% equity In LNG Canada. This will strengthen the company’s lubricant business across the value chain.
  • In October 2017, Idemitsu Q8 Petroleum LLC, a 50:50 joint venture company of Idemitsu Kosan Co. Ltd. (Japan) and Kuwait Petroleum International Ltd. (Kuwait City), started operating a service station business in Hanoi, Vietnam. This helped the company to strengthen its businesses ranging from production and procurement of petroleum products to the sale of such products in the overseas market of the Pacific Rim.
  • In September 2017, BASF India Limited, a subsidiary of BASF SE, expanded technical lab for fuel and lubricant solutions in South Asia. This will help the company to grow its refrigeration oil business automotive and industrial applications.
  • In April 2017, Johnson Controls opened a new screw compressor testing lab for USD 6.7 million. The new 7,000 square feet laboratory is used to test large screw compressors that support refrigeration and gas compression applications in the oil, gas, and process industries.

Key Questions Addressed by the Report

  • What are the major developments impacting the market?
  • Where will all the developments take the industry in the mid to long term?
  • What are the upcoming products of refrigeration oil?
  • What are the emerging applications of refrigeration oil?
  • What are the major factors impacting market growth during the forecast period?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Units Considered
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Market Definition and Scope
    2.2 Base Number Calculation
           2.2.1 Demand-Side Approach
           2.2.2 Refrigeration Oil Market Calculation By Country
    2.3 Market Size Estimation
    2.4 Primary Data
           2.4.1 Key Data From Primary Sources
           2.4.2 Breakdown of Primary Interviews
    2.5 Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Opportunities in Refrigeration Oil Market
    4.2 APAC Refrigeration Oil Market, By Application and Country
    4.3 Refrigeration Oil Market, By Region
    4.4 Refrigeration Oil Market, By Key Countries

5 Market Overview (Page No. - 32)
    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 for Chilled & Frozen 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 Increased Development of 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 Substitutes
           5.3.2 Threat of New Entrants
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry

6 Refrigeration Oil Market, By Oil Type (Page No. - 38)
    6.1 Introduction
    6.2 Synthetic Oil
           6.2.1 POE
                    6.2.1.1 High Thermal Stability and Excellent Wear Performance are Expected to Drive the Demand for POE
           6.2.2 PAG
                    6.2.2.1 Excellent Lubricity is Driving the Demand for PAG Synthetic Oil
           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
           6.3.1 Excellent Fluidity is Expected to Drive the Demand for Mineral Refrigeration Oil

7 Refrigeration Oil Market, By Application (Page No. - 42)
    7.1 Introduction
    7.2 Refrigerator & Freezer
           7.2.1 Domestic Refrigerator & Freezer
                    7.2.1.1 Rise in Demand for Frozen Food Products to Drive the Segment
           7.2.2 Commercial Refrigerator & Freezer
                    7.2.2.1 Increasing Use of Poe-Based Synthetic Oil to Drive the Market in the Segment
           7.2.3 Industrial Refrigerator & Freezer
                    7.2.3.1 Rising Popularity of Co2 in Industrial Refrigerator & Freezer to Drive the Market
    7.3 Air Conditioner
           7.3.1 Domestic Air Conditioner
                    7.3.1.1 Increase in the Disposable Income to Drive the Market in the Segment
           7.3.2 Commercial Air Conditioners
                    7.3.2.1 Growth in the Demand in Commercial Spaces Such as Office Buildings and Retail Stores to Increase the Demand for Air Conditioners
    7.4 Automotive Ac System
           7.4.1 Rising Demand for Automobiles is Driving the Market in the Segment
    7.5 Aftermarket
           7.5.1 Increasing Demand for Refrigerator & Freezer, Air Conditioner, and Automotive Ac System to Significantly Boost the Market Growth

8 Refrigeration Oil Market, By Region (Page No. - 50)
    8.1 Introduction
    8.2 APAC
           8.2.1 China
                    8.2.1.1 Increasing Demand for Consumer Appliances Drives the Market
           8.2.2 Japan
                    8.2.2.1 Presence of Various Refrigerator & Freezer Manufacturers is Likely to Drive the Market
           8.2.3 India
                    8.2.3.1 Rising Income Level of the Middle-Class Population in the Country Propels the Growth of the Market
           8.2.4 South Korea
                    8.2.4.1 Increasing Demand for Processed Food to Drive the Refrigerator & Freezer Application, Which Influences the Market Positively
           8.2.5 Thailand
                    8.2.5.1 Rise in Demand From Refrigerator & Freezer Application is Expected to Drive the Market
           8.2.6 Indonesia
                    8.2.6.1 The Hot Climatic Conditions in the Country Drive the Demand for Air Conditioner, Which Fuels the Growth of the Refrigeration Oil Market
           8.2.7 Vietnam
                    8.2.7.1 Growth in the Automotive Industry is Expected to Drive the Market
           8.2.8 Taiwan
                    8.2.8.1 Increasing Production of Automobiles in the Country Drives the Market
           8.2.9 Rest of APAC
    8.3 North America
           8.3.1 US
                    8.3.1.1 Increase in Retail and Commercial Construction in the Country Drives the Market
           8.3.2 Mexico
                    8.3.2.1 Growing Residential and Non-Residential Construction Projects are Estimated to Drive the Market
           8.3.3 Canada
                    8.3.3.1 Presence of Major Refrigeration Oil Manufacturers to Drive the Market
    8.4 Europe
           8.4.1 Italy
                    8.4.1.1 Growing Domestic Demand for Refrigerators & Freezers is Expected to Drive the Market
           8.4.2 Germany
                    8.4.2.1 Growth in Manufacturing of Automobile for Both Domestic Consumption and Export Influences the Demand for Refrigeration Oil
           8.4.3 Russia
                    8.4.3.1 Growing Production of Consumer Appliances for Domestic and Export Purposes to Drive the Market
           8.4.4 France
                    8.4.4.1 Increase in Spending Power of the Population Drives the Market
           8.4.5 UK
                    8.4.5.1 Growth in Production of Automobiles Due to the Presence of Big Automobile Manufacturing Companies Drives the Market
           8.4.6 Rest of Europe
    8.5 Middle East & Africa
           8.5.1 Turkey
                    8.5.1.1 Presence of Major Refrigerator & Freezer Manufacturers in the Country Increases the Demand for Refrigeration Oil
           8.5.2 Iran
                    8.5.2.1 Increase in Residential Housing Constructions in the Country is Expected to Fuel the Growth of Consumer Appliances, Which Drives the Demand for Refrigeration Oil
           8.5.3 South Africa
                    8.5.3.1 Growing Demand for Energy-Efficient Refrigerator & Freezer to Drive the Market
           8.5.4 Rest of the Middle East & Africa
    8.6 South America
           8.6.1 Brazil
                    8.6.1.1 A High Rate of Urbanization in the Country Drives the Demand for Consumer Appliances, Which Increases the Demand for Refrigeration Oil
           8.6.2 Argentina
                    8.6.2.1 Increasing Export and Domestic Sales of Consumer Appliances Drive the Market
           8.6.3 Rest of South America

9 Competitive Landscape (Page No. - 83)
    9.1 Overview
    9.2 Competitive Leadership Mapping (Overall Market)
           9.2.1 Dynamic Differentiators
           9.2.2 Innovators
           9.2.3 Visionary Leaders
           9.2.4 Emerging Companies
    9.3 Strength of Product Portfolio
    9.4 Business Strategy Excellence
    9.5 Competitive Leadership Mapping (SMSE)
           9.5.1 Progressive Companies
           9.5.2 Responsive Companies
           9.5.3 Starting Blocks
    9.6 Strength of Product Portfolio
    9.7 Business Strategy Excellence
    9.8 Market Share Analysis
    9.9 Competitive Situation and Trends
           9.9.1 Expansion
           9.9.2 Partnership & Agreement
           9.9.3 New Product Launch

10 Company Profiles (Page No. - 93)
    (Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)* 
     10.1 JXTG Holdings
     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 Corp.)
     10.8 Petroliam Nasional Berhad (PETRONAS)
     10.9 FUCHS PETROLUB SE
     10.10 Johnson Controls
     10.11 The Lubrizol Corporation (CPI Fluid Engineering)
     10.12 BP Plc
     10.13 Chevron Corporation
     10.14 Other 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. (Kluber 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.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies. 

11 Appendix (Page No. - 118)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets Subscription Portal
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (89 Tables)

Table 1 Refrigeration Oil Market Size, By Oil Type, 2017–2024 (Kiloton)
Table 2 Refrigeration Oil Market Size, By Oil Type, 2017–2024 (USD Million)
Table 3 Synthetic Refrigeration Oil Market Size, By Type, 2017–2024 (Kiloton)
Table 4 Synthetic Refrigeration Oil Market Size, By Type, 2017–2024 (USD Million)
Table 5 Refrigeration Oil Market Size, By Application, 2017–2024 (Kiloton)
Table 6 Refrigeration Oil Market Size, By Application, 2017–2024 (USD Million)
Table 7 Refrigeration Oil Market Size in Refrigerator & Freezer, By Region, 2017–2024 (Kiloton)
Table 8 Refrigeration Oil Market Size in Refrigerator & Freezer, By Region, 2017–2024 (USD Million)
Table 9 Refrigeration Oil Market Size in Air Conditioner, By Region, 2017–2024 (Kiloton)
Table 10 Refrigeration Oil Market Size in Air Conditioner, By Region, 2017–2024 (USD Million)
Table 11 Refrigeration Oil Market Size in Automotive Ac System, By Region, 2017–2024 (Kiloton)
Table 12 Refrigeration Oil Market Size in Automotive Ac System, By Region, 2017–2024 (USD Million)
Table 13 Refrigeration Oil Market Size in Aftermarket, By Region, 2017–2024 (Kiloton)
Table 14 Refrigeration Oil Market Size in Aftermarket, By Region, 2017–2024 (USD Million)
Table 15 Refrigeration Oil Market Size, By Region, 2017–2024 (Kiloton)
Table 16 Refrigeration Oil Market Size, By Region, 2017–2024 (USD Million)
Table 17 APAC: Refrigeration Oil Market Size, By Country, 2017–2024 (Ton)
Table 18 APAC: Refrigerant Oil Market Size, By Country, 2017–2024 (USD Thousand)
Table 19 APAC: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 20 APAC: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 21 China: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 22 China: Refrigerant Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 23 Japan: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 24 Japan: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 25 India: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 26 India: Refrigerant Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 27 South Korea: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 28 South Korea: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 29 Thailand: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 30 Thailand: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 31 Indonesia: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 32 Indonesia: Refrigerant Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 33 Vietnam: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 34 Vietnam: Polyolester Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 35 Taiwan: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 36 Taiwan: Polyolester Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 37 Rest of APAC: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 38 Rest of APAC: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 39 North America: Refrigeration Oil Market Size, By Country, 2017–2024 (Ton)
Table 40 North America: Polyolester Oil Market Size, By Country, 2017–2024 (USD Thousand)
Table 41 North America: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 42 North America: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 43 US: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 44 US: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 45 Mexico: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 46 Mexico: Polyolester Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 47 Canada: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 48 Canada: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 49 Europe: Refrigeration Oil Market Size, By Country, 2017–2024 (Ton)
Table 50 Europe: Refrigeration Oil Market Size, By Country, 2017–2024 (USD Thousand)
Table 51 Europe: Polyolester Oil Market Size, By Application, 2017–2024 (Ton)
Table 52 Europe: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 53 Italy: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 54 Italy: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 55 Germany: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 56 Germany: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 57 Russia: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 58 Russia: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 59 France: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 60 France: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 61 UK: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 62 UK: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 63 Rest of Europe: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 64 Rest of Europe: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 65 Middle East & Africa: Refrigeration Oil Market Size, By Country, 2017–2024 (Ton)
Table 66 Middle East & Africa: Refrigeration Oil Market Size, By Country, 2017–2024 (USD Thousand)
Table 67 Middle East & Africa: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 68 Middle East & Africa: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 69 Turkey: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 70 Turkey: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 71 Iran: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 72 Iran: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 73 South Africa: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 74 South Africa: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 75 Rest of the Middle East & Africa: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 76 Rest of the Middle East & Africa: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 77 South America: Refrigeration Oil Market Size, By Country, 2017–2024 (Ton)
Table 78 South America: Refrigeration Oil Market Size, By Country, 2017–2024 (USD Thousand)
Table 79 South America: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 80 South America: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 81 Brazil: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 82 Brazil: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 83 Argentina: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 84 Argentina: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 85 Rest of South America: Refrigeration Oil Market Size, By Application, 2017–2024 (Ton)
Table 86 Rest of South America: Refrigeration Oil Market Size, By Application, 2017–2024 (USD Thousand)
Table 87 Expansion, 2016–2019
Table 88 Partnership & Agreement, 2016–2019
Table 89 New Product Launch, 2016–2019


List of Figures (38 Figures)

Figure 1 Market Size Estimation Methodology: Bottom-Up Approach
Figure 2 Market Size Estimation Methodology: Top-Down Approach
Figure 3 Synthetic Oil to Dominate the Refrigeration Oil Market Between 2019 and 2024
Figure 4 Poe to Lead the Synthetic Oil Market Between 2019 and 2024
Figure 5 Refrigerator & Freezer to Be the Fastest-Growing Application of Refrigeration Oil
Figure 6 APAC Accounted for the Largest Share of the Refrigeration Oil Market in 2018
Figure 7 Refrigeration Oil Market to Register Moderate Growth During the Forecast Period
Figure 8 Refrigerator & Freezer Was the Largest Application and China Was the Largest Market in APAC in 2018
Figure 9 APAC to Be the Largest Refrigeration Oil Market Between 2019 and 2024
Figure 10 India to Register the Highest CAGR Between 2019 and 2024
Figure 11 Drivers, Restraints, Opportunities, and Challenges in the Refrigeration Oil Market
Figure 12 Refrigeration Oil Market: Porter’s Five Forces Analysis
Figure 13 Synthetic Oil to Dominate the Refrigeration Oil Market Between 2019 and 2024
Figure 14 Refrigerator & Freezer to Be the Leading Application Segment in the Refrigeration Oil Market
Figure 15 APAC to Register the Highest CAGR During the Forecast Period
Figure 16 APAC: Refrigeration Oil Market Snapshot
Figure 17 North American: Refrigeration Oil Market Snapshot
Figure 18 Competitive Leadership Mapping, 2018
Figure 19 Small and Medium-Sized Enterprises (SMSE) Mapping, 2018
Figure 20 Expansion and Partnership & Agreement Were the Key Growth Strategies Adopted Between 2016 and 2019
Figure 21 Global Refriegeration Oil Market Share Analysis, By Company, 2018
Figure 22 JXTG Holdings: Company Snapshot
Figure 23 JXTG Holdings: SWOT Analysis
Figure 24 BASF SE: Company Snapshot
Figure 25 BASF SE: SWOT Analysis
Figure 26 Idemitsu Kosan Co., Ltd: Company Snapshot
Figure 27 Idemitsu Kosan Co., Ltd: SWOT Analysis
Figure 28 Exxonmobil Corporation: Company Snapshot
Figure 29 Exxonmobil Corporation: SWOT Analysis
Figure 30 Royal Dutch Shell Plc: Company Snapshot
Figure 31 Royal Dutch Shell Plc: SWOT Analysis
Figure 32 Total S.A.: Company Snapshot
Figure 33 Sinopec Group: Company Snapshot
Figure 34 Petroliam Nasional Berhad (PETRONAS): Company Snapshot
Figure 35 FUCHS PETROLUB SE: Company Snapshot
Figure 36 Johnson Controls: Company Snapshot
Figure 37 BP Plc: Company Snapshot
Figure 38 Chevron Corporation: Company Snapshot

The study involved four major activities in estimating the market size for refrigeration oil. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and so on.  Findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives.

Primary Research

The refrigeration oil market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of the refrigerator & freezer, air conditioner, and automotive AC system industries. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

The breakdown of profiles of the primary interviewees is illustrated in the figure below:

Refrigeration Oil Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the refrigeration oil market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

The key players in the industry were identified through extensive secondary research.

  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the refrigerator & freezer, air conditioner, and automotive AC system applications.

Report Objectives

  • To analyze and forecast the size of the refrigeration oil market in terms of value
  • To provide detailed information regarding key factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To define, describe, and segment the refrigeration oil market based on oil type and application
  • To forecast the size of the market segments for regions such as APAC, North America, Europe, Middle East & Africa, and South America.
  • To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contribution to the overall market
  • To identify and analyze opportunities for stakeholders in the market
  • To analyze competitive developments such as expansions, new product launches, and partnership & agreement in the refrigeration oil market
  • To strategically profile key players and comprehensively analyze their core competencies

Available Customizations

Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Regional Analysis

  • Further breakdown of a region with respect to a particular country or application

Company Information

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