Market Overview

The refrigeration lubricants market is expected to register a CAGR of around 3% during the forecast period. The expansion of the emergence of new generation refrigeration lubricants optimized for the energy efficiency market is expected to drive the demand for the market, during the forecast period.

  • Phasing out of existing refrigerants due to constant regulations amendments is likely to hinder the market growth.
  • Increase in the exploration of natural gas is projected to act as an opportunity for the market, in the future.



Key Market Trends

Air Conditioning – The Largest Application

  • Air conditioning lubricants have multiple purposes, such as removing heat, lubricating moving parts, acting as a sealant, and cooling the key parts of compressors.
  • Compressors are the central components of many air conditioning appliances implemented for residential and commercial houses, automobiles, and other industrial equipment.
  • Some major features of refrigeration lubricants include high resistance to oxidation, resistance to thermal degradation, non-foaming, water separation, anti-wear properties, and corrosion resistance.
  • Petroleum refineries are one of the major consumers of refrigeration lubricants, as some of the major processes are subjected to refrigeration. Globally, the increasing consumption of air conditioners for commercial and residential purposes is estimated to boost the refrigeration lubricants market.



Asia-Pacific to Dominate the Market

  • The Asia-Pacific region was the largest market for refrigeration lubricants.
  • The rising demand for refrigeration lubricants can be attributed to the increasing usage of air conditioning systems for domestic and industrial applications.
  • China dominated the market, due to the growing population in urban areas, and increasing use of lubricant refrigerants replacing gaseous lubricants, due to emission problems associated them. The growing Chinese cold chain logistics industry, which constitutes refrigeration trucks and cold storages, is one of the major drivers of the market.
  • In India, owing to the increasing per capita income, and the rising living standards and high-end luxuries, like cars, air conditioners are on the verge of becoming a necessity, which is driving the demand for refereration lubricants in the Indian market.
  • With rising demand from end-user industries, the consumption of refrigeration lubricants is projected to increase during the forecast period.



Competitive Landscape

The global refrigeration lubricants market has higher degree of fragmentation, owing to multiple emission regulations in various countries. Key players in the market include BASF SE, FUCHS Lubricants, Chevron Phillips Chemical Company, ExxonMobil Corporation, and Royal Dutch Shell PLC, among others.

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