Major purpose of a refrigeration oil is to lubricate the compressor and to also have the appropriate miscibility and solubility characteristics to interact with the refrigerant accordingly.
Major factor driving growth of the global refrigeration oil market is increasing demand for consumer compliances. In addition, growing demand from various industry vertical is expected to support growth of the global refrigeration oil market.
The global refrigeration oil market report has been segmented on the basis of oil type, application, and region.
The oil type segment of global refrigeration oil market is segmented on the basis of mineral oil, and synthetic oil. The mineral oil segment is expected to contribute significant revenue share in the global market.
The application segment of global refrigeration oil market is segmented on the basis of refrigerator & freezer, air conditioner, and automotive AC system. The refrigerator & freezer segment is expected to contribute significant revenue share in the global market.
On the basis of region, the global refrigeration oil market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Request for the Sample Report Here: https://marketresearch.biz/report/refrigeration-oil-market/request-sample/
The refrigeration oil market in Asia Pacific is expected to account for largest share in the global market in terms of revenue, owing to rising disposable income resulting in increasing demand for AC, refrigerators, and other appliances, and presence of major players operating in countries in the region. The market in Europe is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to increasing demand for refrigerators from food and pharmaceuticals industry in economies in this region.
Key players operating in the global refrigeration market include JXTG Group, BASF SE, Idemitsu Kosan Co., Royal Dutch Shell plc, Exxon Mobil Corporation, BP p.l.c., Petroliam Nasional Bhd, Chevron Corporation, Sinopec Group, and Fuchs Petrolub SE.