Global Refrigeration Oil Market Poised for Growth, Projected to Reach $1.4 Billion by 2026
The refrigeration oil market size is projected to reach USD 1.4 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 4.1%. Growing demand for frozen food and in the pharmaceutical industry is expected to support the growth of the refrigeration oil market. However, huge investment in R&D and strict rules to limit the use of fluorocarbon refrigerants is restraining the growth of the market. On the other hand, innovation in product development has created opportunities for manufacturers.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=126068118
Eneos Holdings Inc. (Japan), BASF SE (Germany), Idemitsu Kosan Co. Ltd (Japan), ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Total Energies SE(France), China Petrochemical Corporation (Sinopec Corp), Petroliam Nasional Berhad(Petronas), FUCHS Petrolub SE (Germany), Johnson Controls(Ireland) are the major players in this market.
Eneos Holdings Inc. engages in the development, production, and sale of petroleum, natural gas, and metals. The company operates through four business segments, namely, Energy, Metals, Oil, Natural gas E&P, and Others. The company operates its refrigeration oil business in Japan, China, and other among other countries.
- On April 1, 2017, JX Group (Japan) and TonenGeneral Sekiyu K.K. Group (Japan) integrated their business and formed JXTG Holdings renamed as Eneos Holdings Inc. in June 2020.
BASF SE is one of the largest chemical producers in the world. It engages in manufacturing and selling a wide range of chemicals and intermediate solutions. The company offers various products including chemicals, additives, plastics, functional solutions, performance products, agricultural solutions, and crude oil. It operates through seven different business segments namely: Chemicals, Industrial solutions, Nutrition & care, Materials, Surface technologies, Agricultural solutions and others. The company has a presence in more than 60 countries of Europe, North America, APAC, South America, and the Middle East & Africa
- In October 2020, BASF SE doubled the capacity of synthetic ester-based stocks in Jinshan, China which helps in production of refrigerant oils, lubricants and other oils and helps in boosting capacity of alkoxylate capacity
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=126068118
Idemitsu Kosan Co., Ltd. is a petroleum refining and manufacturing company. The company manufactures and sells petrochemical and oil products. The company operates through its subsidiaries in APAC, Europe, North America, South America, and the Middle East & Africa
- In August 2020, Idemitsu Kosan Co. Ltd expanded their operations by constructing a new plant in Huizhou, China to increase supply capacity and establish supply of refrigerant oils and lubricants across China.
Read Our Trending Press Release Below:
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/refrigeration-oil-market-126068118.html