Get In Touch

Global Refrigeration Market to Remain Consolidated till 2025, Notes TMR

The global refrigeration oil market is anticipated to demonstrate healthy growth in coming years, as reported by Transparency Market Research (TMR). The competitive landscape of the global refrigeration oil market features consolidation at present. The top 5 players held 95% of the overall market share in the global market. These players are Exxon Mobil Corp., Royal Dutch Shell, Idemitsu Kosan Co., Ltd., MEIWA, and BASF. These vendors exert dominance in the global refrigerated oil market on account of their vast geographical reach and robust product portfolio. 

Vendors in the global refrigeration oil market are expected to dedicate resources to research and development activities. This is a key strategy adopted by vendors in order to gain momentum by launching effective and innovative products in the refrigeration oil market. A prime example is the introduction of a hydrofluorocarbon-based refrigeration oil by Idemitsu Kosan Co., Ltd. 

TMR projects the global refrigeration oil market to reach US$1.77 billion by 2025-end. The market is anticipated to grow at 5.8% CAGR over the forecast period 2017 to 2025. 

Synthetic oil is expected to exhibit highest potential for growth among the product segments in the refrigeration oil market. High demand of the product due to its compatibility plays a key role in boosting this market segment. Among the regional segments, while North America will continue to be a dominant market, Asia Pacific is prognosticated to exhibit swift growth in the global refrigeration oil market in the coming years. 

global refrigeration oil market

Rising Need for Food and Beverage Preservation to Boost Refrigeration Oil Market 

The growing demand for coolers, freezers, air conditioners and car hVac system is propelling the growing intake of packaged food and the preservation and use of vaccines and medicinal products. The industry is being fuelled by increasing demands from the food and drug industries for refrigeration oil to increase its shelf life. Furthermore, increased demand for consumer equipment and increasing preference for GWP coolants are key factors which should drive the refrigeration oil market. Furthermore, technological progress and changing lifestyles of people globally influence the growth of the refrigeration oil market significantly. 

Use of Nanoparticles to Emerge as Key Market Trend 

Lubricant and additive chemicals that improve heat transfer and compressor efficiency have been given more attention over the last few years. Many companies worldwide incorporate nanoparticles in refrigerant oil to improve the properties of heat transfer. Current trends also include the use of coolants with a powerful affinity to metal, which have an activated polar molecule. These additives form a thin layer of the compressor's metal surfaces. This layer lubricates the moving components of the compressor, thus improving the heat transfer and increasing system efficiency.

Emission of Fluorocarbons to Restrain Growth 

The main restrictions on the growth of the refrigeration oil market are strict regulations limiting the use of fluorocarbon refrigerants. Government agencies have created stringent regulations to restrict the use of fluorocarbon coolants because of an increase in Green House gas emissions, with oil control complexities likely to limit the world refrigeration oil market. The shift to frozen and cooled products such as poultry, meat and milk, however, is forecast to escalate compressor demand, thus driving the refrigeration oil market during the forecast period. 

This review is based on TMR’s report titled, “Refrigeration Oil Market (Product - Mineral Oil and Synthetic Oil; Refrigerant Type - Hydro Chlorofluorocarbon (HCFC), Chlorofluorocarbon (CFC), Hydro Fluorocarbon (HFC), and Ammonia; Application - Air conditioners , Coolers, Chillers, Refrigerators, and Condensers; End-use - Residential, Commercial, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.” 

Key Segments of the Global Refrigeration Oil Market 

By Product Type

  • Mineral Oil
  • Synthetic Oil 

By Refrigerant Type

  • Hydro Chlorofluorocarbon (HCFC)
  • Chlorofluorocarbon (CFC)
  • Hydro Fluorocarbon (HFC)
  • Ammonia 

By Application

  • Air conditioners
  • Coolers
  • Chillers
  • Refrigerators
  • Condensers
  • Others 

By End User

  • Residential
  • Commercial
  • Industrial 

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Italy
    • Russia
    • France
    • Germany
    • Rest Of Europe
  • Asia Pacific
    • China
    • India
    • ASEAN
    • Japan
    • Rest Of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA 

About Us 

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to industry leaders, consultants, and strategy professionals. 

Our reports are single-point solutions for industries to grow, evolve, and mature. Our significant-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These demands are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories. 

TMR believes that unison of solutions for client-specific problems with right methodology of research is the key to help enterprises reach right decision. 

U.S. Office Contact 

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453


7 of 10 large enterprizes view our ToC to take the right decision.

View Report ToC