Refrigeration Oil Market worth $1.4 billion by 2024 - PowerPoint PPT Presentation

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Refrigeration Oil Market worth $1.4 billion by 2024

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The refrigeration oil market size is projected to reach USD 1.4 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 4.7%. The growth of the market is driven by the increasing demand for consumer appliances, growing demand from food & pharmaceutical industries, and rising demand for low GWP refrigerants. Also, increasing consumption of packaged food products is expected to drive the refrigeration oil market. APAC is the key market for refrigeration oil, globally, followed by North America and Europe. – PowerPoint PPT presentation

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Title: Refrigeration Oil Market worth $1.4 billion by 2024


1
  • Refrigeration Oil Market worth 1.4 billion by
    2024

https//www.marketsandmarkets.com/Market-Reports/r
efrigeration-oil-market-126068118.html
2
  • Scope of The Report
  • This report categorizes the global refrigeration
    oil market based on oil type, application, and
    region.
  • Based on the Oil Type, the refrigeration oil
    market has been segmented as follows
  • Synthetic Oil
  • Mineral Oil
  • On the basis of Application, the refrigeration
    oil market has been segmented as follows
  • Refrigerator Freezer
  • Air Conditioner
  • Automotive AC System
  • Aftermarket
  • Based on the Region, the refrigeration oil market
    has been segmented as follows
  • APAC
  • North America
  • Europe
  • Middle East Arica
  • South America  

And More
https//www.marketsandmarkets.com/Market-Reports/r
efrigeration-oil-market-126068118.html
3
Key Segments
The report provides detailed insights into the
global Refrigeration Oil Market that has been
segmented by oil type, application, and region.
1
2
Synthetic oil is the largest segment of the
Refrigeration Oil market.
Refrigerator freezer application is estimated
to be the largest segment of the natural
fragrance market during the forecast period.
3
APAC is estimated to be the largest market for
Refrigeration Oil during the forecast period.
4
The growth of the market is driven by the
increasing demand for consumer appliances,
growing demand from food pharmaceutical
industries, and rising demand for low GWP
refrigerants.
5
https//www.marketsandmarkets.com/Market-Reports/r
efrigeration-oil-market-126068118.html
4
  • Market Growth Rate

2024
2019
Market Size of USD 1.1 billion
Market Size of USD 1.4 billion
  • Recent Developments
  • In May 2018, PETRONAS entered into an agreement
    to acquire 25 equity In LNG Canada. This will
    strengthen the companys lubricant business
    across the value chain.
  • In October 2017, Idemitsu Q8 Petroleum LLC, a
    5050 joint venture company of Idemitsu Kosan Co.
    Ltd. (Japan) and Kuwait Petroleum International
    Ltd. (Kuwait City), started operating a service
    station business in Hanoi, Vietnam.
  • In September 2017, BASF India Limited, a
    subsidiary of BASF SE, expanded technical lab for
    fuel and lubricant solutions in South Asia. This
    will help the company to grow its refrigeration
    oil business automotive and industrial
    applications.
  • In April 2017, Johnson Controls opened a new
    screw compressor testing lab for USD 6.7 million.
    The new 7,000 square feet laboratory is used to
    test large screw compressors that support
    refrigeration and gas compression applications in
    the oil, gas, and process industries.

https//www.marketsandmarkets.com/Market-Reports/r
efrigeration-oil-market-126068118.html
5
  • Key Vendors

Vendors
  •  JXTG Group (Japan)
  • BASF  (Germany)
  •  Idemitsu Kosan Co. (Japan)
  • Royal Dutch Shell  (Netherlands)
  • ExxonMobil (US), BP (UK)
  • FUCHS (Germany)
  • PETRONAS (Malaysia)
  • Chevron (US)
  • Total (France)
  • Sinopec Group (China)
  • And More

View Report Here - https//www.marketsandmarkets.c
om/Market-Reports/refrigeration-oil-market-1260681
18.html
6
  • Major Regions
  • APAC
  • North America
  • Europe
  • Middle East Arica
  • South America

https//www.marketsandmarkets.com/Market-Reports/r
efrigeration-oil-market-126068118.html
7
  • MarketsandMarkets Value Proposition

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8
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    structures, Drivers and Competitive Landscape

9
  • MarketsandMarkets Our Expertise

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10
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11
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12
  • Stay in touch

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