Refrigeration Oil Market Growth Trends & Forecast till 2027
Refrigeration oil lubricates the compressor of a freezer or an air conditioning system, for its smoother operation and to achieve longer service life. Refrigeration oils are also required to withstand extreme temperature differences and be compatible with the refrigerants used in refrigeration and air conditioning systems.

The Refrigeration Oil research report published by Stratview Research, is an in-depth analysis of the latest developments, market size, future technologies, market drivers, upcoming challenges, with key company profiles. The research study provides market overview, opportunities in the market, sales and revenue by region and much more business intel.

This research analyses niche markets, potential threats, and competitive strategy in various segments based on the Refrigeration Oil Market competitive landscape and development model in various parts of the world. This research throws light on the business strategies of the key players that might help in the growth of other companies during the pandemic era.

Impact of COVID-19 on Refrigeration Oil Market

As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.

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Key Players involve in this research are:

  • JXTG Group
  • Idemitsu Kosan Co., Ltd.
  • Royal Dutch Shell plc
  • Exxon Mobil Corporation
  • BP p.l.c.
  • Petroliam Nasional Berhad (PETRONAS)
  • Chevron Corporation
  • Total S.A.
  • China Petrochemical Corporation (Sinopec Group)
  • Fuchs Petrolub SE
  • Johnson Controls International plc, and
  • The Lubrizol Corporation (CPI Fluid Engineering Services).

Growth drivers and Market Value:

This report, from Stratview Research Refrigeration Oil Market value and growth drivers over the trend period of 2022-27. According to the report -

Refrigeration Oil Market is likely to witness a healthy CAGR of 4.8% during the forecast period. The high growth of the refrigeration oil market is mainly bolstered by its increasing demand for refrigerators and freezers and air conditioning systems, coupled with the increasing consumption of packaged food products globally.

Segment Analysis:

By Oil Type

Based on the oil type, the market is segmented as mineral oil and synthetic oil. The synthetic oil segment held the larger share of the market in 2021, and is expected to remain dominant during the forecast period. Synthetic oil is further classified as polyolester, polyalkylene glycol, and others. Higher performance in critical conditions, higher thermal stability, viscosity and chemical resistance, compared to mineral oil along with its increasing demand in low GWP and CO2 refrigeration systems; is the major factor behind the dominance of synthetic oil in the market.

By Region

In terms of regions, Asia-Pacific is expected to be the dominant region in the market during the forecast period. The Asia-Pacific region is the largest market for the food & beverage and consumer goods sectors; thus, creating high demand for refrigerant oil in the region. Rapid industrialization and urbanization in the developing countries such as India and China, is likely to boost the demand for refrigerant oil in the region during the forecast period. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.

Competitive Analysis: Understanding your rivalry is critical to your success. This section includes an analysis of your key competitors, their products/services, their differentiators, and market shares, etc.

Target Market and Audience: Identifying and prioritizing specific target markets is another key part of any industry, where research is crucial. Stratview Research’s report will help you find more about the demographics and buying behaviours of your potential customers.

Key Considerations for Market Forecast:

-        Impact of lockdown, supply chain disruptions.

-        Pre and post-COVID-19 market estimates

-        Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan

Impact of COVID-19 on the Global Market

The Refrigeration Oil report compiled by Stratview Research offers in-depth study of market opportunities and market impact that are stirred due to the COVID-19 pandemic. The detailed research report focuses upon the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by related market, etc.

Sneak peek into the Report:

The report provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • Market forecast analysis
  • Competitive landscape and dynamics: Market share, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends & Key success factors

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