Global Refrigerant Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global refrigerant oil market in its upcoming report titled, “Global Refrigerant Oil Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global refrigerant oil market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global refrigerant oil market report has been segmented on the basis of product type, refrigerant type, application, end user, and region.

Refrigerant oil is used for smooth functioning of compressors and condensers that are present in refrigeration and air conditioning systems. Refrigerant oils can be classified into mineral oil and synthetic oil, which are used in various end-use industries such as automobile and electrical appliances. Polyolester oil (POE oil) is a type of refrigerant oil mostly used in refrigeration compressors that is compatible with refrigerants such as R-134a, R-410A, and R-12.

Development of supermarkets, shopping complexes, research and development in food and beverage, automotive, pharmaceutical industries is expected to rise usage of air conditioners, chillers, and refrigerators. Technological advancements and changing lifestyle among individuals result in increasing usage of air conditioners and refrigerators, which are major factors expected to drive growth of the global market over the forecast period. In addition, increasing preference of low- global warming potential (GWP) refrigerants, rising government initiatives to promote energy-efficient products and services, and increasing number of end-use applications of refrigerant oil are some other factors expected to fuel growth of the target market. Moreover, technological advancement in healthcare sector such as advent of heating, ventilation, air conditioning and refrigeration (HVAC&R) systems is expected to impel growth of refrigerant oil in the near future.

However, increasing preference for oil-free compressors among users and issues related to compatibility of refrigeration oil with electrical appliances are major factors expected to restrain growth of the global market over the forecast period.

The market in North America dominates the global market in terms of revenue over the forecast period, owing to increasing demand for food storage equipment, rising spending capacity of individuals and growing consumer electronics market. The market in Asia Pacific is projected to have highest growth in terms of CAGR, owing to large presence of refrigerants and refrigerant oil suppliers. This is attributed to rising adoption of refrigerant oils, owing to increasing demand for refrigerant based products such as air conditioners, medical freezers, and refrigerators in residential and commercial sectors in developed countries.

Global refrigerant oil market segmentation:

Segmentation by product type:

• Mineral oil
• Synthetic oil

Segmentation by refrigerant type:

• Hydro Chlorofluorocarbon (HCFC)
• Chlorofluorocarbon (CFC)
• Hydro Fluorocarbon (HFC)
• Ammonia

Segmentation by application:

• Air conditioners
• Coolers
• Chillers
• Refrigerators
• Condensers
• Others

Segmentation by end user:

• Residential
• Commercial

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa