The refrigerants
used in equipment such as chillers, air-conditioners and others follow a cycle
which includes vapour-compression,
absorption, steam ejection and air. Mechanical
refrigeration uses the evaporation of a liquid refrigerant to absorb heat. Along with refrigerants, ascends
the need for Refrigerant oils. Oil
is applied as a lubricant in the refrigeration system to lubricate compressor
bearings and other moving parts.
To
Know More About Refrigerant Oils, Follow the Below Report Link on “Refrigerant
Oils Market”:
According to a recent
study from IndustryARC, the global
market value of Refrigerant oil was around
to $7.8 billion in 2014, where
synthetic refrigerant oil accounted 89.9%
of the market. Synthetic refrigerant oil such as alkyl benzene (AB), poly alpha
olefins (PAO), poly alkylene glycols (PAG) and polyolester oil (POE) are in
high demand due to their suitability with the new or alternative refrigerants.
Asia-Pacific region is the largest
market in 2014 and is estimated to grow at a high CAGR of 5.7% from 2015 to 2020. However, American market is poised to grow
at 3.8% CAGR while Europe market is
forecast to grow at a CAGR of 3.5% till 2020. This market is fast growing in
emerging economies of the world such as BRIC
countries due to growing economic conditions and high demand for consumer
durables and automobiles.
For More Knowledge on “Refrigerant Oils
Market”, Download Sample Brochure of Premium Report:
The Major Players in this Market
Include:
- Royal Dutch Shell Plc. (The Netherlands)
- Fuchs Lubricants Co. (Germany)
- Chevron Corporation (U.S.)
- BASF SE (Germany)
- Chemtura Corporation (U.S.)
- Idemitsu Kosan Co. Ltd. (Japan)
- The Dow Chemical Company (U.S.)
On a global
level, Lubrizol and Chemtura are market leaders for refrigerant oil product
while in the automotive sector, Idemitsu Kosan Co. Ltd. accounts for
approximately 80% of the total market share. BASF SE and Dow Chemical Co. have
strong market presence in the market as their products are highly favoured by
OEMs (Original Equipment Manufacturers).
Premium Report on “Refrigerant
Oils Market” Available. To Evaluate a Purchase, Speak to Our Analyst:
About IndustryARC:
IndustryARC is a research and consulting firm that
publishes more than 500 reports annually in various industries, such as
Agriculture, Automotive, Automation & Instrumentation, Chemicals and
Materials, Energy and Power, Electronics, Food & Beverages, Information
Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies
and Newer Applications of the Market. Our Custom Research Services are designed
to provide insights on the constant flux in the global demand-supply gap of
markets. Our strong analyst team enables us to meet the client research needs
at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better
address customer needs; stay ahead in the market; become the top competitor and
get real-time recommendations on business strategies and deals. Contact us to
find out how we can help you today.
Contact:
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Matthews
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