Refrigeration Lubricants Market will Turn over USD 0.9 billion to Revenue to Cross USD 1.29 billion in 2023 to 2029 | Eneos Holdings Inc., BASF SE, Idemitsu Kosan Co. Ltd

Exactitude Consultancy Market Research analyses that the Refrigeration Lubricants Market will witness a CAGR of 4.1% for the forecast period of 2023-2029 and is likely USD 0.9 billion in 2022 to reach at USD 1.29 billion by 2029.

Research report on the Refrigeration Lubricants market allows buyers to deliver unique solutions to various end users and improve their business presence in the industry. The report is introduced with accurate statistics regarding market share, size, and growth rate for the buyers to focus on their operations and achieve various goals smoothly. Numerous driving factors, restraints, opportunities, and threats affecting the Refrigeration Lubricants market growth is described in the study for the strategy planners to plan policies pertaining to production volume, delivery of services, making connections, and creating awareness in the minds of consumers.

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Market Dynamics

✦ Drivers

The booming healthcare industry, advancement in the treatment, and increasing prevalence of chronic disease are projected to fuel demand for refrigeration systems, which is, in turn, propelling the market growth. Increasing use of refrigeration systems due to growing need for storing drugs and vaccines along with the growing development of novel drugs is further anticipated to accelerate the market growth of refrigeration oil.

Growth in the food &beverage industry is a prime factor fueling the market growth of refrigeration oil. Rising demand for perishable food products coupled with the increasing trade of food around the globe is also contributing to the market growth of refrigeration oil. Moreover, increasing consumption of frozen and packaged food products is another major factor expected to augment the market growth of refrigeration oil.

✦ Restraints

Strict rules and regulations on the use of fluorocarbon refrigerants system are expected to hamper the market growth over the forecast period. Various environmental factors (such as depletion of ozone layer) associated with the use of a refrigeration system are expected to be a major challenge for the market growth of refrigeration oil.

✦ Trends

Increasing adoption of polyvinyl ether (PVE) as a refrigerant oil, a miscible and compatible oil to all types of HFC (hydrofluorocarbon) refrigeration systems is expected to be a major trend in market. Moreover, PVE oil offers better compatibility with R-410A (a zeotropic but near-azeotropic mixture of difluoromethane and pentafluoroethane that is used as a refrigerant in air conditioning and heat pump applications) as compared to poly olester (POE) oils. Thus, rising adoption of polyvinyl ether (PVE) as a refrigeration oil is expected to foster the market growth of refrigeration oil over the forecast period.

Prominent Key players of the Refrigeration Lubricants Market survey report:

Historical data available in the report elaborates on the development of the Refrigeration Lubricants on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Eneos Holdings Inc. (Japan), BASF SE (Germany), Idemitsu Kosan Co. Ltd (Japan), ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Total Energies SE(France), China Petrochemical Corporation (Sinopec Corp), Petroliam Nasional Berhad (Petroliam).

Recent Developments

⇨ In June 2022, ExxonMobil, an oil and gas company, and QatarEnergy, petroleum company, announced that they signed an agreement to further develop Qatar's North Field East project, which will expand Qatar's annual LNG (Liquefied Natural Gas) capacity from currently 77 million tons to 110 million tons by 2029.

⇨ In May 2022, ExxonMobil, an oil and gas company, announced its plans to grow shareholder value by delivering solutions that help meet the global need for energy and for lower greenhouse gas emissions to address climate change

⇨ In September 2022, Shell plc, an oil and gas company, agreed to sell its 100% interest in Shell Onshore Ventures LLC which holds a 51.8% membership interest in Aera Energy LLC, a natural gas, oil exploration and production company, to IKAV for a total consideration of approximately US$ 2 billion in cash with additional contingent payments based on future oil prices, subject to regulatory approval.

Refrigeration Lubricants Market Segmentation:

Refrigeration Lubricants Market by Oil Type, 2023-2029, (USD Million), (Kilotons)

» Synthetic Oil (Poe, PAG)

» Mineral Oil

Refrigeration Lubricants Market by Application, 2023-2029, (USD Million), (Kilotons)

» Refrigerators & Freezers

» Refrigeration Compressors

» Production Of Soft Drinks

» Air Conditionings

» Transportation

» Automotive

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Refrigeration Lubricants Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Refrigeration Lubricants industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Refrigeration Lubricants industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Refrigeration Lubricants Market Research Report 2023-2029

1 Refrigeration Lubricants Market Overview

1.1 Product Overview and Scope of Refrigeration Lubricants

1.2 Refrigeration Lubricants Segment by Type (Product Category)

1.3 Global Refrigeration Lubricants market Segment by Application

1.4 Global Refrigeration Lubricants Market by Region (2023-2029)

1.4.1 Global Refrigeration Lubricants Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Refrigeration Lubricants (2023-2029)

1.5.1 Global Refrigeration Lubricants Revenue Status and Outlook (2023-2029)

1.5.2 Global Refrigeration Lubricants Capacity, Production Status and Outlook (2023-2029)

…

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