Global Refrigeration Oil Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Oil Type;

Mineral Oil, and Synthetic Oil.

By Refrigerant Type;

Chlorofluorocarbon (CFC), Hydrochlorofluorocarbon (HCFC), Ammonia, and Hydrofluorocarbon (HFC).

By Application;

Refrigerator & Freezer, Automotive AC System, Chillers, and Condensers.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn720147636 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Refrigeration Oil Market (USD Million), 2021 - 2031

In the year 2024, the Global Refrigeration Oil Market was valued at USD 853.78 million. The size of this market is expected to increase to USD 1,217.47 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.2%.

The Global Refrigeration Oil Market serves as a critical component within the refrigeration industry, providing essential lubrication and heat transfer capabilities across various cooling systems. Refrigeration oils are specifically formulated to withstand the demanding conditions within refrigeration and air conditioning equipment, ensuring smooth operation and efficient heat exchange. These oils play a pivotal role in maintaining system performance by lubricating moving parts, enhancing thermal conductivity, and preventing corrosion, thereby extending the operational lifespan of refrigeration systems.

As global demands for refrigeration solutions expand across sectors such as food preservation, pharmaceuticals, chemicals, and HVAC systems, the market for refrigeration oils continues to evolve. Technological advancements in synthetic and semi-synthetic oils offer improved viscosity stability, better thermal stability at high temperatures, and compatibility with diverse refrigerants. Stringent environmental regulations and the shift toward eco-friendly refrigerants have spurred innovation in refrigeration oil formulations, emphasizing low toxicity, minimal environmental impact, and compliance with regulatory standards. The dynamic growth of the Global Refrigeration Oil Market reflects ongoing efforts to enhance energy efficiency, reduce carbon footprints, and ensure reliable performance in refrigeration applications worldwide.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Oil Type
    2. Market Snapshot, By Refrigerant Type
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Global Refrigeration Oil Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growth in pharmaceutical cold storage
        2. Advancements in compressor technology
        3. Expansion of retail and supermarket chains
        4. Focus on reducing carbon footprint
      2. Restraints
        1. Safety concerns related to oil handling
        2. Complexity in oil disposal and recycling
        3. Resistance to adopting new oil technologies
      3. Opportunities
        1. Development of bio-based refrigeration oils
        2. Integration of IoT in refrigeration systems
        3. Increasing demand for pharmaceuticals and vaccines
        4. Innovations in oil recycling and disposal
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Refrigeration Oil Market, By Oil Type, 2021 - 2031 (USD Million)
      1. Mineral Oil
      2. Synthetic Oil
    2. Global Refrigeration Oil Market, By Refrigerant Type, 2021 - 2031 (USD Million)
      1. Chlorofluorocarbon (CFC)
      2. Hydrochlorofluorocarbon (HCFC)
      3. Ammonia
      4. Hydrofluorocarbon (HFC)
    3. Global Refrigeration Oil Market, By Application, 2021 - 2031 (USD Million)
      1. Refrigerator & Freezer
      2. Automotive AC System
      3. Chillers
      4. Condensers
    4. Global Refrigeration Oil Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape Analysis
    1. Company Profiles
      1. Meiwa Corporation
      2. Idemitsu Kosan Co. Ltd.
      3. ExxonMobil Corporation
      4. Chevron Royal Dutch Shell Plc
      5. Phillips Chemical Company
      6. The Lubrizol Corporation
  7. Analyst Views
  8. Future Outlook of the Market