Refrigeration Oil market research report encompasses thorough insights about the industry which are based on business intelligence. The Refrigeration Oil report offers market potential for each geological region based on the growth rate, macroeconomic parameters, consumer buying patterns, their inclinations for particular product and market demand and supply scenarios. To bring about an unmatched expertise of the best market opportunities into their applicable markets, businesses can take up this market report. CAGR values for the industry with respect to its rise or drop are estimated in the Refrigeration Oil report for the forecast period of 2021 to 2027.
Refrigeration oil market is estimated to reach at a USD 1.69 billion by 2027, and growth rate of 9.13% in the forecast period of 2020 to 2027. Increased consumption of frozen and packaged food products and with the increasing demand for refrigeration systems to store goods at the required temperature is the factors driving the demand for refrigeration oil.
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Some of the key players profiled in the study are Jxtg Group, BASF SE, Idemitsu Kosan Co.,Ltd, Exxon Mobil Corporation., Royal Dutch Shell Plc, Total S.A., China Petrochemical Corporation (Sinopec Group), Petroliam Nasional Berhad (PETRONAS), FUCHS Petrolub Se, Johnson Controls, The Lubrizol Corporation, BP P.L.C., Chevron Corporation, Behr Hella Service Gmbh, BVA, Inc., Calumet Specialty Products Partners, L.P., CAMCO Lubricants, CITGO Petroleum Corporation, Cosmo Oil Lubricants Co., Ltd., Ente Nazionale Idrocarburi (Eni), Indian Oil Corporation Ltd., Isel, National Refrigerants, Inc., Summit Oil Company, Inc. (Klüber Lubrication Na Lp), Lubriplate Lubricants Company, Lukoil, Petro-Canada Lubricants Inc., Phillips 66 Lubricants, Sun Company, Inc., among other.
What is Refrigeration Oil?
Refrigeration oil is derived by mineral oil or synthetic oil, formulated by mixing oil and additives designed for its use in the cooling system. Purpose of refrigeration oil is to lubricate moving parts in refrigerant compressor effectively.
Expanding healthcare industry with increased spending on development of new drugs will increase the requirement of refrigeration system to store drugs and vaccine and thus drive the growth of the market. Demand for the air conditioner systems and refrigerators in the developing countries with increase in population and urbanization will also drive the growth of the market. Decrease in environmental pollution have resulted in a shift toward green products, this will result in manufacturing of ACs using greener alternatives that is natural refrigerants such as CO2, hydrocarbons and ammonia and will drive the growth of the market and create new growth opportunities for refrigeration oil market in the forecast period of 2020-2027.
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The Refrigeration Oil market report estimates 2018 – 2027 market development trends for Refrigeration Oil industry. The report analyses some of the challenges that Refrigeration Oil industry may have to face during the growth. Analysis of upstream raw materials, downstream demand, and current market dynamics is also performed here. This report also discusses about what technologies need to be worked on in order to incentivize future growth, the effects they will have on the market, and how they can be used. Furthermore, Refrigeration Oil market research report also provides a watchful investigation of the current state of the market which covers several market dynamics.
Table of Contents – Major Key Points
Part 01: Refrigeration Oil Market Overview
Part 02: Manufacturers Profiles
Part 03: Global Refrigeration Oil Market Competition, by Players
Part 04: Global Refrigeration Oil Market Size by Regions
Part 05: North America Refrigeration Oil Market Revenue by Countries
Part 06: Europe Refrigeration Oil Market Revenue by Countries
Part 07: Asia-Pacific Refrigeration Oil Market Revenue by Countries
Part 08: South America Refrigeration Oil Market Revenue by Countries
Part 09: Middle East and Africa Revenue Refrigeration Oil Market by Countries
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