Refrigerant Oil Market to 2027 Increasing Demand with Leading Key Players BASF SE, BP Plc, China Petrochemical Corporation

   2020-02-13 18:02

Market Research Report on Refrigerant Oil Market Outlook to 2027”. The report is spread across 150 Pages and Supported by 10 Company Leaders to Focus on Size, Trends, Share, Technology, Status and Opportunities.

Refrigerant oils are used to reduce friction between moving parts in the refrigerator. They are used to lubricate the components in refrigerator compressors, air conditioners, chillers, and coolers. Refrigerant oils significantly reduce the wear and tear of the compressor components and extend its durability. Synthetic and mineral oils that are compatible with the refrigerant are used as refrigerant oils. Besides reducing friction, refrigerant oils are also responsible for dissipating and carrying away the heat.

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The global refrigerant oil market is segmented on the basis of type, refrigerant type, application, and end-use industry. On the basis of type, the refrigerant oil market is segmented into, polyolester oil (poe), polyalkylene glycol (pag), polyalphaolefin (pao), polyvinyl ether oil (pve), mineral oil, alkyl benzene oil, others. On the basis of refrigerant type, the market is bifurcated into, chlorofluorocarbon (CFC), hydro-chlorofluorocarbon (HCFC), hydrofluoro carbon (HFC), ammonia, HFO, butane and iso butane, propane, and others. Based on application, the global refrigerant oil market is segmented into, coolers, air conditioners, chillers, condensers, refrigerators, and others. On the basis of end-use industry, the market is bifurcated into commercial, household, automobile, and industrial.

Refrigerant Oil Market

Refrigerant Oil Market

Top Key player Mentioned:-

  • BP Plc
  • China Petrochemical Corporation
  • Exxonmobil Corporation
  • Idemitsu Kosan Co., Ltd.
  • Petroliam Nasional Berhad
  • Royal Dutch Shell Plc
  • The Lubrizol Corporation
  • Total S.A.

The reports cover key developments in the refrigerant oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from refrigerant oil market are anticipated to lucrative growth opportunities in the future with the rising demand for refrigerant oil in the global market. Below mentioned is the list of few companies engaged in the refrigerant oil market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the refrigerant oil market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

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  • The key findings and recommendations highlight crucial progressive industry trends in the global Refrigerant Oil Market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

The ubiquitous applications of heating, ventilation, air conditioning, and refrigeration in various end-use industries has led to significant consumption of lubricants and refrigerant oils. The burgeoning applications of airconditioning in industries, manufacturing facilities, malls, hospitals, IT parks, and public buildings have created considerable demand for refrigerant oils. Oil changing and maintenance of old refrigeration systems are also anticipated to create significant demand for refrigerant oils in the forecast period. In recent years, refrigerant oil manufacturers are paying more focus on developing lubricant oils and additives to improve compressor and heat transfer efficiency. Several manufacturers around the world are incorporating nanoparticles in the refrigerant oils to improve heat transfer efficiency. The current trend of using refrigerant additives containing activated polar molecules that display a strong affinity towards metals. These additives ensure a thin lubricating layer on the surfaces of compressors subjected to friction. It has been known to improve the heat transfer efficiency in compressors. The innovation and research and development activites in the field of refrigerant oils are anticipated to lead to development of refrigerant oils with enhanced lubricating properties.

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