Table of Content

1 INTRODUCTION 33
1.1 OBJECTIVES OF THE STUDY 33
1.2 MARKET DEFINITION 33
1.2.1 REFRIGERATION OIL MARKET: INCLUSIONS AND EXCLUSIONS 33
1.2.2 REFRIGERATION OIL: MARKET DEFINITION AND INCLUSIONS, BY TYPE 34
1.2.3 REFRIGERATION OIL: MARKET DEFINITION AND INCLUSIONS,
BY APPLICATION 34
1.3 MARKET DEFINITION 35
1.3.1 REFRIGERATION OIL MARKET SEGMENTATION 35
1.3.2 REGIONS COVERED 35
1.3.3 YEARS CONSIDERED FOR THE STUDY 36
1.4 CURRENCY 36
1.5 UNITS CONSIDERED 36
1.6 LIMITATIONS 36
1.7 STAKEHOLDERS 36
1.8 SUMMARY OF CHANGES 37
2 RESEARCH METHODOLOGY 38
2.1 RESEARCH DATA 38
FIGURE 1 REFRIGERATION OIL MARKET: RESEARCH DESIGN 38
2.1.1 SECONDARY DATA 39
2.1.2 PRIMARY DATA 39
2.1.2.1 Primary interviews - Demand and supply-side 39
2.1.2.2 Key industry insights 40
2.1.2.3 Breakdown of primary interviews 40
2.2 MARKET SIZE ESTIMATION 41
2.2.1 BOTTOM-UP APPROACH 41
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE OF PRODUCTS 41
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 BOTTOM-UP (SUPPLY-SIDE): COLLECTIVE REVENUE OF ALL PRODUCTS 42
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - BOTTOM-UP (DEMAND-SIDE): PRODUCTS SOLD AND THEIR AVERAGE SELLING PRICE 42
2.2.2 TOP-DOWN APPROACH 43
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 - TOP-DOWN 43
2.3 DATA TRIANGULATION 43
FIGURE 6 REFRIGERATION OIL MARKET: DATA TRIANGULATION 44
2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 45
2.4.1 SUPPLY-SIDE 45
FIGURE 7 MARKET CAGR PROJECTIONS FROM SUPPLY-SIDE 45
2.4.2 DEMAND-SIDE 45
FIGURE 8 MARKET GROWTH PROJECTIONS FROM DEMAND SIDE DRIVERS
AND OPPORTUNITIES 46
2.5 FACTORS ANALYSIS 46
2.6 ASSUMPTIONS 46
2.7 LIMITATIONS 47
2.8 RISK ASSESSMENT 47
TABLE 1 REFRIGERATION OIL MARKET: RISK ASSESSMENT 47
3 EXECUTIVE SUMMARY 48
FIGURE 9 REFRIGERATOR & FREEZER TO BE LARGEST APPLICATION OF
REFRIGERATION OIL MARKET IN 2020 49
FIGURE 10 SYNTHETIC OIL TO LEAD OVERALL MARKET BETWEEN 2021 AND 2026 49
FIGURE 11 POE TO LEAD SYNTHETIC OIL MARKET BETWEEN 2021 AND 2026 50
FIGURE 12 REFRIGERATOR & FREEZER TO BE FASTEST-GROWING APPLICATION
OF REFRIGERATION OIL 50
FIGURE 13 APAC ACCOUNTED FOR LARGEST SHARE OF REFRIGERATION OIL
MARKET IN 2020 51
4 PREMIUM INSIGHTS 52
4.1 ATTRACTIVE OPPORTUNITIES IN REFRIGERATION OIL MARKET 52
FIGURE 14 GROWING REFRIGERATOR & FREEZER APPLICATION TO DRIVE REFRIGERATION OIL MARKET DURING THE FORECAST PERIOD 52
4.2 REFRIGERATION OIL MARKET SIZE, BY REGION 52
FIGURE 15 APAC TO BE LARGEST MARKET FOR REFRIGERATION OIL DURING
THE FORECAST PERIOD 52
4.3 APAC: REFRIGERATION OIL MARKET, BY APPLICATION AND COUNTRY, 2020 53
FIGURE 16 CHINA ACCOUNTED FOR THE LARGEST MARKET SHARE 53
4.4 REFRIGERATION OIL MARKET SIZE, BY APPLICATION 53
FIGURE 17 REFRIGERATOR & FREEZER TO BE LARGEST APPLICATION OF
REFRIGERATION OIL MARKET 53
4.5 REFRIGERATION OIL MARKET SIZE, BY APPLICATION VS REGION 54
FIGURE 18 REFRIGERATOR & FREEZER TO BE DOMINANT APPLICATION OF REFRIGERATION OIL MARKET ACROSS REGIONS 54
4.6 REFRIGERATION OIL MARKET, BY KEY COUNTRIES 54
FIGURE 19 INDIA TO REGISTER THE HIGHEST CAGR BETWEEN 2021 AND 2026 54
5 MARKET OVERVIEW 55
5.1 INTRODUCTION 55
5.2 MARKET DYNAMICS 55
FIGURE 20 REFRIGERATION OIL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,
AND CHALLENGES 56
5.2.1 DRIVERS 56
5.2.1.1 Increasing demand for consumer appliances 56
TABLE 2 GROSS ADJUSTED HOUSEHOLD DISPOSABLE PER CAPITA INCOME,
2019 (USD) 57
5.2.1.2 Growing demand for chilled & frozen food and growth of pharmaceutical industry 57
TABLE 3 SIZE OF FROZEN FOODS MARKET WORLDWIDE FROM 2018 TO
2026 (USD BILLION) 58
5.2.1.3 Rising demand for low GWP refrigerants 58
5.2.2 RESTRAINTS 58
5.2.2.1 Stringent regulations to limit use of fluorocarbon refrigerants 58
5.2.3 OPPORTUNITIES 59
5.2.3.1 Development of low viscosity and high-quality refrigeration oil 59
5.2.4 CHALLENGES 59
5.2.4.1 Compatibility of refrigeration oil with refrigerants 59
5.3 PORTER’S FIVE FORCES ANALYSIS 59
FIGURE 21 PORTER’S FIVE FORCES ANALYSIS OF REFRIGERATION OIL MARKET 60
TABLE 4 REFRIGERATION OIL MARKET: PORTER’S FIVE FORCES ANALYSIS 60
5.3.1 THREAT OF SUBSTITUTES 61
5.3.2 THREAT OF NEW ENTRANTS 61
5.3.3 BARGAINING POWER OF SUPPLIERS 61
5.3.4 BARGAINING POWER OF BUYERS 61
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 62
5.4 TECHNOLOGY ANALYSIS 62
5.5 MACROECONOMIC INDICATORS 63
5.5.1 GDP TRENDS AND FORECAST OF MAJOR ECONOMIES 63
TABLE 5 TRENDS AND FORECAST OF GDP, 2019–2026 (GROWTH RATE) 63
5.6 COVID-19 IMPACT 64
5.6.1 INTRODUCTION 64
5.6.2 COVID-19 HEALTH ASSESSMENT 64
FIGURE 22 COUNTRY-WISE SPREAD OF COVID-19 65
5.6.3 COVID-19 ECONOMIC ASSESSMENT 65
FIGURE 23 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2021 66
5.6.3.1 COVID-19 Impact on the Economy?Scenario Assessment 66
FIGURE 24 FACTORS IMPACTING THE GLOBAL ECONOMY 67
FIGURE 25 SCENARIOS OF COVID-19 IMPACT 68
5.7 IMPACT OF COVID-19: CUSTOMER ANALYSIS 69
6 INDUSTRY TRENDS 70
6.1 SUPPLY CHAIN ANALYSIS 70
FIGURE 26 REFRIGERATION OIL MARKET: SUPPLY CHAIN 70
TABLE 6 REFRIGERATION OIL MARKET: SUPPLY CHAIN 70
6.1.1 RAW MATERIAL 71
6.1.2 MANUFACTURING OF REFRIGERATION OILS 72
6.1.3 DISTRIBUTION TO END USERS 72
6.2 REFRIGERATION OIL MARKET: REALISTIC, PESSIMISTIC, OPTIMISTIC, AND
NON-COVID-19 SCENARIO 72
FIGURE 27 MARKET SIZE UNDER REALISTIC, PESSIMISTIC, OPTIMISTIC, AND
NON-COVID-19 SCENARIO 72
TABLE 7 REFRIGERATION OIL MARKET: MARKET FORECAST SCENARIO,
2019–2026 (USD MILLION) 72
6.2.1 NON-COVID-19 SCENARIO 73
6.2.2 OPTIMISTIC SCENARIO 73
6.2.3 PESSIMISTIC SCENARIO 73
6.2.4 REALISTIC SCENARIO 73
6.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 73
6.3.1 REVENUE SHIFTS & REVENUE POCKETS FOR REFRIGERATION OILS MARKET 73
FIGURE 28 REVENUE SHIFT FOR REFRIGERATION OILS MARKET 74
6.4 CONNECTED MARKETS: ECOSYSTEM 74
FIGURE 29 REFRIGERATION OILS MARKET: ECOSYSTEM 74
6.5 CASE STUDY ANALYSIS 75
6.5.1 A CASE STUDY ON UNILEVER-HYDROCARBON ICE CREAM FREEZERS 75
6.5.2 A CASE STUDY ON OIL RETURN CHARACTERISTICS IN A DISPLAY CASE REFRIGERATION SYSTEM 75
6.6 TARIFF AND REGULATORY LANDSCAPE 75
6.6.1 US 76
6.6.2 JAPAN 76
6.6.3 CHINA 77
6.7 TRADE ANALYSIS 77
6.7.1 IMPORT SCENARIO OF REFRIGERATION OIL 77
FIGURE 30 REFRIGERATION OIL IMPORTS, BY KEY COUNTRY, 2016–2020 77
TABLE 8 IMPORTS OF REFRIGERATION OILS, BY REGION, 2016–2020 (USD BILLION) 77
6.7.2 EXPORT SCENARIO OF REFRIGERATION OIL 78
FIGURE 31 REFRIGERATION OIL EXPORTS, BY KEY COUNTRY, 2016– 2020 78
TABLE 9 EXPORTS OF REFRIGERATION OILS, BY REGION, 2016–2020 (USD BILLION) 78
6.8 AVERAGE SELLING PRICE 78
TABLE 10 AVERAGE SELLING PRICE OF REFRIGERATION OIL, BY REGION (USD/KG) 79
6.9 PATENT ANALYSIS 79
6.9.1 APPROACH 79
6.9.2 DOCUMENT TYPE 79
TABLE 11 GRANTED PATENTS ACCOUNT FOR 21 % OF THE TOTAL COUNT
IN THE LAST 11 YEARS. 79
FIGURE 32 PATENTS REGISTERED FOR REFRIGERATION OIL, 2010–2020 80
FIGURE 33 PATENTS PUBLICATION TRENDS FOR REFRIGERATION OIL, 2010–2020 80
6.9.3 JURISDICTION ANALYSIS 81
FIGURE 34 MAXIMUM PATENTS FILED BY COMPANIES IN CHINA 81
6.9.4 TOP APPLICANTS 81
FIGURE 35 LG CHEMICAL LTD. TECHNOLOGIES LLC REGISTERED MAXIMUM NUMBER
OF PATENTS BETWEEN 2010 AND 2020 81
TABLE 12 TOP 10 PATENT OWNERS IN US, 2010–2020 85
7 REFRIGERATION OIL MARKET, BY OIL TYPE 86
7.1 INTRODUCTION 87
FIGURE 36 SYNTHETIC OIL TO DOMINATE REFRIGERATION OIL MARKET BETWEEN
2021 AND 2026 87
TABLE 13 REFRIGERATION OIL MARKET SIZE, BY OIL TYPE, 2016–2019 (KILOTON) 87
TABLE 14 REFRIGERATION OIL MARKET SIZE, BY OIL TYPE, 2020–2026 (KILOTON) 87
TABLE 15 REFRIGERATION OIL MARKET SIZE, BY OIL TYPE, 2016–2019 (USD MILLION) 88
TABLE 16 REFRIGERATION OIL MARKET SIZE, BY OIL TYPE, 2020–2026 (USD MILLION) 88
7.2 SYNTHETIC OIL 88
7.2.1 INCREASE IN DEMAND DUE TO ITS HIGH PERFORMANCE IN EXTREME CONDITIONS 88
TABLE 17 SYNTHETIC REFRIGERATION OIL MARKET SIZE, BY TYPE,
2016–2019 (KILOTON) 88
TABLE 18 SYNTHETIC REFRIGERATION OIL MARKET SIZE, BY TYPE,
2020–2026 (KILOTON) 89
TABLE 19 SYNTHETIC REFRIGERATION OIL MARKET SIZE, BY TYPE,
2016–2019 (USD MILLION) 89
TABLE 20 SYNTHETIC REFRIGERATION OIL MARKET SIZE, BY TYPE,
2020–2026 (USD MILLION) 89
7.2.2 POE 90
7.2.2.1 High thermal stability and excellent wear performance are
expected to drive the demand for POE 90
7.2.3 PAG 90
7.2.3.1 Excellent lubricity of PAG synthetic oil driving its demand 90
7.2.4 OTHERS 90
7.2.4.1 PAO 90
7.2.4.2 PVE 90
7.2.4.3 AB 90
7.2.4.4 Blends 90
7.3 MINERAL OIL 91
7.3.1 EXCELLENT FLUIDITY IS EXPECTED TO DRIVE THE DEMAND FOR
MINERAL REFRIGERATION OIL 91
8 REFRIGERATION OIL MARKET, BY APPLICATION 92
8.1 INTRODUCTION 93
FIGURE 37 REFRIGERATOR & FREEZER TO BE LEADING APPLICATION SEGMENT IN REFRIGERATION OIL MARKET 93
TABLE 21 REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTON) 93
TABLE 22 REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2020–2026 (KILOTON) 94
TABLE 23 REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 94
TABLE 24 REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD MILLION) 94
?
8.2 REFRIGERATOR & FREEZER 95
8.2.1 DOMESTIC REFRIGERATOR & FREEZER 95
8.2.1.1 Rise in demand for frozen food products to drive the segment 95
8.2.2 COMMERCIAL REFRIGERATOR & FREEZER 95
8.2.2.1 Increasing use of POE-based synthetic oil to drive the market
in the segment 95
8.2.3 INDUSTRIAL REFRIGERATOR & FREEZER 96
8.2.3.1 Rising popularity of CO2 in industrial refrigerator & freezer
to drive the market 96
TABLE 25 REFRIGERATION OIL MARKET SIZE IN REFRIGERATOR & FREEZER,
BY REGION, 2016–2019 (KILOTON) 96
TABLE 26 REFRIGERATION OIL MARKET SIZE IN REFRIGERATOR & FREEZER,
BY REGION, 2020–2026 (KILOTON) 96
TABLE 27 REFRIGERATION OIL MARKET SIZE IN REFRIGERATOR & FREEZER,
BY REGION, 2016–2019 (USD MILLION) 97
TABLE 28 REFRIGERATION OIL MARKET SIZE IN REFRIGERATOR & FREEZER,
BY REGION, 2020–2026 (USD MILLION) 97
8.3 AIR CONDITIONER 98
8.3.1 DOMESTIC AIR CONDITIONERS 98
8.3.1.1 Increase in disposable income to drive the market in the segment 98
8.3.2 COMMERCIAL AIR CONDITIONERS 98
8.3.2.1 Growth in demand in commercial spaces such as office buildings
and retail stores to increase demand for air conditioners 98
TABLE 29 REFRIGERATION OIL MARKET SIZE IN AIR CONDITIONER, BY REGION,
2016–2019 (KILOTON) 98
TABLE 30 REFRIGERATION OIL MARKET SIZE IN AIR CONDITIONER, BY REGION,
2020–2026 (KILOTON) 99
TABLE 31 REFRIGERATION OIL MARKET SIZE IN AIR CONDITIONER, BY REGION,
2016–2019 (USD MILLION) 99
TABLE 32 REFRIGERATION OIL MARKET SIZE IN AIR CONDITIONER, BY REGION,
2020–2026 (USD MILLION) 99
8.4 AUTOMOTIVE AC SYSTEM 100
8.4.1 RISING DEMAND FOR AUTOMOBILES DRIVING THE MARKET IN THE SEGMENT 100
TABLE 33 REFRIGERATION OIL MARKET SIZE IN AUTOMOTIVE AC SYSTEM, BY REGION, 2016–2019 (KILOTON) 100
TABLE 34 REFRIGERATION OIL MARKET SIZE IN AUTOMOTIVE AC SYSTEM, BY REGION, 2020–2026 (KILOTON) 100
TABLE 35 REFRIGERATION OIL MARKET SIZE IN AUTOMOTIVE AC SYSTEM, BY REGION, 2016–2019 (USD MILLION) 101
TABLE 36 REFRIGERATION OIL MARKET SIZE IN AUTOMOTIVE AC SYSTEM, BY REGION, 2020–2026 (USD MILLION) 101
8.5 AFTERMARKET 102
8.5.1 INCREASING DEMAND FOR REFRIGERATORS, FREEZER, AIR CONDITIONER, AND AUTOMOTIVE AC SYSTEM TO BOOST THE MARKET 102
TABLE 37 REFRIGERATION OIL MARKET SIZE IN AFTERMARKET, BY REGION,
2016–2019 (KILOTON) 102
TABLE 38 REFRIGERATION OIL MARKET SIZE IN AFTERMARKET, BY REGION,
2020–2026 (KILOTON) 102
TABLE 39 REFRIGERATION OIL MARKET SIZE IN AFTERMARKET, BY REGION,
2016–2019 (USD MILLION) 103
TABLE 40 REFRIGERATION OIL MARKET SIZE IN AFTERMARKET, BY REGION,
2020–2026 (USD MILLION) 103
9 REFRIGERATION OIL MARKET, BY REGION 104
9.1 INTRODUCTION 105
FIGURE 38 APAC TO REGISTER HIGHEST CAGR DURING THE FORECAST PERIOD 105
TABLE 41 REFRIGERATION OIL MARKET SIZE, BY REGION, 2016–2019 (KILOTON) 105
TABLE 42 REFRIGERATION OIL MARKET SIZE, BY REGION, 2020–2026 (KILOTON) 106
TABLE 43 REFRIGERATION OIL MARKET SIZE, BY REGION, 2016–2019 (USD MILLION) 106
TABLE 44 REFRIGERATION OIL MARKET SIZE, BY REGION, 2020–2026 (USD MILLION) 106
9.2 APAC 107
FIGURE 39 APAC: REFRIGERATION OIL MARKET SNAPSHOT 107
9.2.1 APAC REFRIGERATION OIL MARKET, BY APPLICATION 108
TABLE 45 APAC: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTON) 108
TABLE 46 APAC: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (KILOTON) 108
TABLE 47 APAC: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 108
TABLE 48 APAC: REFRIGERATION OIL MARKET SIZE, BY REGION,
2020–2026 (USD MILLION) 109
9.2.2 APAC REFRIGERATION OIL MARKET, BY COUNTRY 109
TABLE 49 APAC: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (KILOTON) 109
TABLE 50 APAC: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2020–2026 (KILOTON) 110
TABLE 51 APAC: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (USD MILLION) 110
TABLE 52 APAC: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2020–2026 (USD MILLION) 111
9.2.2.1 China 111
9.2.2.1.1 Increasing demand for consumer appliances
drives the market 111
TABLE 53 CHINA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 111
TABLE 54 CHINA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 112
TABLE 55 CHINA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 112
TABLE 56 CHINA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 112
9.2.2.2 Japan 113
9.2.2.2.1 Presence of various refrigerator & freezer manufacturers likely to drive the market 113
TABLE 57 JAPAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 113
TABLE 58 JAPAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 113
TABLE 59 JAPAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 114
TABLE 60 JAPAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 114
9.2.2.3 India 114
9.2.2.3.1 Rising income level of middle-class population propels growth of the market 114
TABLE 61 INDIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 115
TABLE 62 INDIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 115
TABLE 63 INDIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 115
TABLE 64 INDIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 116
9.2.2.4 South Korea 116
9.2.2.4.1 Increasing demand for processed food to drive demand for refrigerator & freezer 116
TABLE 65 SOUTH KOREA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 116
TABLE 66 SOUTH KOREA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 117
TABLE 67 SOUTH KOREA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 117
TABLE 68 SOUTH KOREA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 117
9.2.2.5 Thailand 118
9.2.2.5.1 Rise in demand from refrigerator & freezer application expected to drive the market 118
TABLE 69 THAILAND: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 118
TABLE 70 THAILAND: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 118
TABLE 71 THAILAND: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 119
TABLE 72 THAILAND: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 119
9.2.2.6 Indonesia 119
9.2.2.6.1 Hot climatic conditions drive the demand for air conditioners in the country 119
TABLE 73 INDONESIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 119
TABLE 74 INDONESIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 120
TABLE 75 INDONESIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 120
TABLE 76 INDONESIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 120
9.2.2.7 Vietnam 121
9.2.2.7.1 Growth in automotive industry expected to drive the market 121
TABLE 77 VIETNAM: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 121
TABLE 78 VIETNAM: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 121
TABLE 79 VIETNAM: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 122
TABLE 80 VIETNAM: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 122
9.2.2.8 Taiwan 122
9.2.2.8.1 Increasing production of automobiles in the country
driving the market 122
TABLE 81 TAIWAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 122
TABLE 82 TAIWAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 123
TABLE 83 TAIWAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 123
TABLE 84 TAIWAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 123
9.3 NORTH AMERICA 124
FIGURE 40 NORTH AMERICAN: REFRIGERATION OIL MARKET SNAPSHOT 124
9.3.1 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION 125
TABLE 85 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTON) 125
TABLE 86 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2020–2026 (KILOTON) 125
TABLE 87 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2016–2019 (USD MILLION) 126
TABLE 88 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2020–2026 (USD MILLION) 126
9.3.2 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY 126
TABLE 89 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (KILOTON) 126
TABLE 90 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2020–2026 (KILOTON) 127
TABLE 91 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (USD MILLION) 127
TABLE 92 NORTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2020–2026 (USD MILLION) 127
9.3.2.1 US 128
9.3.2.1.1 Increase in retail and commercial construction driving
the market for refrigeration oil 128
TABLE 93 US: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2016–2019 (TON) 128
TABLE 94 US: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2020–2026 (TON) 128
TABLE 95 US: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 129
TABLE 96 US: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 129
9.3.2.2 Mexico 129
9.3.2.2.1 Growing residential and non-residential construction projects estimated to drive the market 129
TABLE 97 MEXICO: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 130
TABLE 98 MEXICO: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 130
TABLE 99 MEXICO: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 130
TABLE 100 MEXICO: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 131
9.3.2.3 Canada 131
9.3.2.3.1 Presence of major refrigeration oil manufacturers
to drive the market 131
TABLE 101 CANADA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 131
TABLE 102 CANADA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 132
TABLE 103 CANADA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 132
TABLE 104 CANADA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 132
9.4 EUROPE 133
9.4.1 EUROPE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION 133
TABLE 105 EUROPE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (KILOTON) 133
TABLE 106 EUROPE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (KILOTON) 133
TABLE 107 EUROPE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD MILLION) 134
TABLE 108 EUROPE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD MILLION) 134
9.4.2 EUROPE: REFRIGERATION OIL MARKET SIZE, BY COUNTRY 134
TABLE 109 EUROPE: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (KILOTON) 134
TABLE 110 EUROPE: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2020–2026 (KILOTON) 135
TABLE 111 EUROPE: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (USD MILLION) 135
TABLE 112 EUROPE: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2020–2026 (USD MILLION) 135
9.4.2.1 Italy 136
9.4.2.1.1 Growing demand for refrigerators & freezers expected
to drive the market 136
TABLE 113 ITALY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 136
TABLE 114 ITALY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 136
TABLE 115 ITALY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 137
TABLE 116 ITALY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 137
9.4.2.2 Germany 137
9.4.2.2.1 Growth in manufacturing of automobiles fueling the demand for refrigeration oil 137
TABLE 117 GERMANY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 138
TABLE 118 GERMANY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 138
TABLE 119 GERMANY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 138
TABLE 120 GERMANY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 139
9.4.2.3 Russia 139
9.4.2.3.1 Growing production of consumer appliances for
domestic and export to drive the market 139
TABLE 121 RUSSIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 139
TABLE 122 RUSSIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 139
TABLE 123 RUSSIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 140
TABLE 124 RUSSIA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 140
9.4.2.4 France 140
9.4.2.4.1 Increase in spending power of the population
driving the market 140
TABLE 125 FRANCE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 141
TABLE 126 FRANCE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 141
TABLE 127 FRANCE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 141
TABLE 128 FRANCE: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 142
9.4.2.5 UK 142
9.4.2.5.1 Growth in production of automobiles fuels the market
for refrigeration oil 142
TABLE 129 UK: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2016–2019 (TON) 142
TABLE 130 UK: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2020–2026 (TON) 143
TABLE 131 UK: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 143
TABLE 132 UK: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 143
9.5 MIDDLE EAST & AFRICA 144
9.5.1 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION 144
TABLE 133 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE,
BY APPLICATION, 2016–2019 (TON) 144
TABLE 134 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE,
BY APPLICATION, 2020–2026 (TON) 144
TABLE 135 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE,
BY APPLICATION, 2016–2019 (USD MILLION) 145
TABLE 136 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE,
BY APPLICATION, 2020–2026 (USD THOUSAND) 145
9.5.2 MIDDLE EAST & AFRICA A: REFRIGERATION OIL MARKET SIZE, BY COUNTRY 145
TABLE 137 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY, 2016–2019 (KILOTON) 145
TABLE 138 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY, 2020–2026 (KILOTON) 146
TABLE 139 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY, 2016–2019 (USD THOUSAND) 146
TABLE 140 MIDDLE EAST & AFRICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY, 2020–2026 (USD THOUSAND) 146
9.5.2.1 Turkey 147
9.5.2.1.1 Presence of major refrigerator & freezer manufacturers increases demand for refrigeration oil 147
TABLE 141 TURKEY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 147
TABLE 142 TURKEY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 147
TABLE 143 TURKEY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 148
TABLE 144 TURKEY: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 148
9.5.2.2 Iran 148
9.5.2.2.1 Increase in residential housing constructions expected
to fuel growth of consumer appliances 148
TABLE 145 IRAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 149
TABLE 146 IRAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 149
TABLE 147 IRAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 149
TABLE 148 IRAN: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 150
9.5.2.3 South Africa 150
9.5.2.3.1 Growing demand for energy-efficient refrigerators
& freezers to drive the market 150
TABLE 149 SOUTH AFRICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (TON) 150
TABLE 150 SOUTH AFRICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (TON) 151
TABLE 151 SOUTH AFRICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2016–2019 (USD THOUSAND) 151
TABLE 152 SOUTH AFRICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD THOUSAND) 151
9.6 SOUTH AMERICA 152
9.6.1 SOUTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION 152
TABLE 153 SOUTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2016–2019 (KILOTON) 152
TABLE 154 SOUTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2020–2026 (KILOTON) 152
TABLE 155 SOUTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION, 2016–2019 (USD MILLION) 153
TABLE 156 SOUTH AFRICA: REFRIGERATION OIL MARKET SIZE, BY APPLICATION,
2020–2026 (USD MILLION) 153
9.6.2 SOUTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY 153
TABLE 157 SOUTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (KILOTON) 153
TABLE 158 SOUTH AFRICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2020–2026 (KILOTON) 154
TABLE 159 SOUTH AMERICA: REFRIGERATION OIL MARKET SIZE, BY COUNTRY,
2016–2019 (USD MILLION) 154
TAB