Refrigeration Oil Market Trend Analysis & Competition Tracking, Research Report by Forecast to 2025

09/ott/2019 09:11:41 Tejas Amale Contatta l'autore

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Refrigeration Oil Market – Market Overview

Oil used in refrigeration system for the purpose to lubricate compressor and keep refrigeration unit running smoothly is collectively known as refrigeration oil.  Refrigeration oil lubricates compressor and reduces the friction on metal parts and wear on the compressor. The overall application scope of the refrigeration oil includes refrigerator, freezer, coolers, condensers, chiller, air conditioner, automotive ac systems, and others. Growth of refrigeration oil is largely driven by strong demand from consumer appliances such as air conditioner and refrigerator. Technological innovation coupled with changing lifestyle is the key factor raiding demand for refrigeration oil and is expected to further drive the global demand. Food industry is one of the important are wherein, refrigeration systems used in largely followed by pharmaceutical industry to increase the shelf life of the product. This in turn, has driving massive demand for refrigeration oil. However, restriction on the fluorocarbons use expected to hamper the overall refrigeration oil.

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Competitive Landscape

The global Refrigeration Oil market has a large number of market players across the globe. The global market is moderate in terms of consumption and is expected to grow in moderately over the forecast period as well. Major players in this market are JXTG Holdings Inc, BASF SE, China Petrochemical Corporation, Shell Global, ExxonMobil Corporation, Total, WEIWA Corporation, Indian Oil Corporation, Behr Hella Service GmBh, COSMO OIL LUBRICANTS Co Ltd, Calumet Specialty Products, LP, Lupriplate Lubricants. Most of these players are mid-scale. Consumer electronic industry is the major application area and is growing largely in developed and developing economies by economic reforms. Therefore,

Industry news

December 20, 2017 - BASF SE and Sinopec China collective expanded the neopentylglycol (NPG) production in China. By operating at 80,000 tons of existing capacity, the company has added additional 80,000 tons of neopentylglycol. With this additional capacity, the company would be able to support increasing demand for NPG.

June 6, 2017 - ExxonMobil Corporation has expanded its new synthetic and grease production facility in Singapore. It is the leading company in the synthetic market and has this capacity expansion two to strengthen the company's flagship in lubricants segment. Singapore is recognized as an emerging market for lubricants, and is expected to offer considerable demand for the same.

April 27, 2015 - BASF SE appointed as their core fund for North America and Central Europe. BTC would be solely engaged and responsible in the lubricants distribution. BTC is the European sales organization for small and medium sized customers. The company would be associated with BASF.

Regional Overview

Globally, Asia Pacific expected to be the Refrigeration Oil Market. The growth observed in this region is relatively high that other regions. The demand for refrigerators in this region is such as refrigerators, residential and commercial freezers. North America is the second largest market after Asia Europe has the presence of stringent government regulatory bodies which has limited refrigeration oil demand in Europe  

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