PUNE, India, April 2, 2018 /PRNewswire/ --
The report "Refrigeration Oil Market by Oil Type (Mineral Oil, Synthetic Oil (Polyolester, Polyalkylene Glycol)), Application (Refrigerator & Freezer, Air Conditioner, Automotive AC System, and Aftermarket), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the Refrigeration Oil Market is projected to reach USD 1,243.6 Million by 2022, growing at a CAGR of 4.3% from USD 1,005.2 Million in 2017. Emerging economies are witnessing rapid urbanization along with a rise in disposable income. The consequent rise in the standard of living and growing consumption of convenience/packaged food products, coupled with the mass adoption of vaccines and drugs will drive the demand for refrigerators, freezers, air conditioners, and automobile HVAC systems. This will fuel the demand for refrigeration oil, ultimately driving the refrigerator oil market.
Browse 94 market data Tables and 39 Figures spread through 131 Pages and in-depth TOC on "Refrigeration Oil Market"
Early buyers will receive 10% customization on this report
The synthetic oil segment was the largest oil type segment of the Refrigeration Oil Market.
The synthetic oil segment accounted for the largest share of the Refrigeration Oil Market in 2017, in terms of value. Synthetic refrigeration oil has several advantages over conventional mineral refrigeration oil, such as high performance in extreme conditions, better viscosity index, higher shear stability, and improved chemical resistance. In addition, its compatibility with low GWP and modern refrigerants gives it an added advantage over mineral refrigeration oil.
Get PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=126068118
The refrigeration & freezer segment is estimated to be the largest application segment of the Refrigeration Oil Market in 2017.
The refrigerator & freezer segment is estimated to be the largest application segment of the Refrigeration Oil Market, in terms of both, value and volume, in 2017. The growth of this segment can be attributed to the rising demand for packaged food items and the changing lifestyle of people in developed and developing regions.
APAC is estimated to be the largest market for refrigeration oil in 2017.
The Asia Pacific region is estimated to lead the Refrigeration Oil Market in 2017 in terms of value and volume. The increasing population in the region and the increased demand for refrigerators, freezers, air conditioners, and automobiles in the emerging markets of APAC, such as China and India, are some of the major factors projected to drive the demand for refrigeration oil in the region. Furthermore, the improving lifestyle, increase in employment rate, rise in disposable income of the people, and increase in foreign investments in various sectors of the economy are some of the other factors that make APAC an attractive market for refrigeration oil manufacturers.
Key market players profiled in the report include JXTG Group (Japan), BASF (Germany), Idemitsu Kosan Co. (Japan), Royal Dutch Shell (Netherlands), ExxonMobil (US), BP (UK), PETRONAS (Malaysia), Chevron (US), Total (France), Sinopec Group (China), FUCHS (Germany), Johnson Controls (Ireland), The Lubrizol (CPI Fluid Engineering Services) (US), Behr Hella Service GmbH (Germany), BVA, Inc. (US), Calumet Specialty Products Partners, L.P. (US), CAMCO Lubricants (US), CITGO Petroleum Corporation (US), Cosmo Oil Lubricants Co., Ltd. (Japan), Eni (Italy), Indian Oil Corporation (India), Isel (US), National Refrigerants, Inc. (US), Summit Oil Company (US), Lubriplate Lubricants Company (US), Lukoil (Russia), Petro-Canada Lubricants Inc. (Canada), Phillips 66 Lubricants (US), and Sun Company, Inc. (US).
Know more about the Refrigeration Oil Market: https://www.marketsandmarkets.com/Market-Reports/refrigeration-oil-market-126068118.html
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets