Global Refrigeration Oil Market to reach 1.04 billion by 2027.Global Refrigeration Oil Market is valued approximately USD 1.06 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2021-2027.
Refrigerated oil is specially made for the cooling systems or technologies. It serves a hydraulic control, functional fluid and lubricating oil in refrigeration compressors and is made up of a special high-temperature formulation designed for use in cooling systems.
Growing demand of frozen food as well as rising use of Refrigerators in pharmaceutical industry is driving the market.
In 2020, BASF SE had collaborated with FUCHS for more good quality and sustainable refrigerant lubricants and oil products, also to produce more ester based and mineral oil-based fluids.

Government is imposing regulation to limit the use of fluorocarbon refrigerants, as fluorocarbon has harmful effects on atmosphere and hence, hinders the market growth. However, demand of packaged and ready-to-eat food is increasing day by day and increasing technological and product innovation results in the growth of market in forthcoming period.

The regional analysis of Global Refrigeration Oil Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Specific is developed market for the refrigerator oil, and it is specially attributed to high level economic growth rate, along with heavy investment across industries such as automotive, oil & gas, infrastructure, chemical, and electronics among others. With economic declination and saturation in the European and North American markets, the demand is shifting to the Asia Pacific region.

Major market player included in this report are:
Johnson Controls
Eneos Holdings Inc.
BASF SE (Germany)
Idemitsu Kosan Co. Ltd
ExxonMobil Corporation
Royal Dutch Shell Plc.
Total Energies SE
China Petrochemical Corporation (Sinopec Corp)
Petroliam Nasional Berhad(Petronas)
FUCHS Petrolub

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the Industrial within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Synthetic oil
Mineral oil

By Application:
Refrigerators & Freezers
Air Conditioner
Automotive AC System
Aftermarket


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoASIA PACIFIC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Refrigeration Oil Market Products Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors