DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Refrigeration Oil Market, by Oil Type
7 Refrigeration Oil Market, by Application
8 Refrigeration Oil Market, by Region
9 Competitive Landscape
10 Company Profiles
- 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.
- Johnson Controls
- Jxtg Group
- Lubriplate Lubricants Company
- National Refrigerants, Inc.
- Petro-Canada Lubricants Inc.
- Petroliam Nasional Berhad (PETRONAS)
- Phillips 66 Lubricants
- Royal Dutch Shell Plc
- Summit Oil Company, Inc. (Klber Lubrication Na Lp)
- Sun Company, Inc.
- The Lubrizol Corporation
- Total S.A.
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