Refrigeration Lubricants Market- Global Industry Analysis, Size, and Forecast, 2018 - 2026
Added: (Wed Jan 23 2019)
Pressbox (Press Release) -
Transparency Market Research (TMR) provides key insights on the refrigeration lubricants market in its latest report titled “Refrigeration Lubricants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, increasing demand from the automotive industry is predicted to drive the refrigeration lubricants market during the forecast period.
Furthermore, rise in the worldwide need for health care and food supply and increase in the demand for refrigeration lubricants from the automotive industry. Key innovations, changing technologies, and R&D activities in refrigeration lubricants in the last decade were the result of environmental legislations imposed by Montreal and Kyoto protocols. All these factors also impact the selection of refrigeration lubricants. The trend toward use of natural refrigeration lubricants (such as CO2-based, ammonia-based, and hydrocarbon-based) has been growing over the last few years.
Based on end-user, the refrigeration lubricants market for refrigeration lubricants is segmented into residential, commercial, industrial, and transportation. The transportation segment includes industries such as automotive and marine. The industrial segment comprises HVAC systems and PAC.
North America holds a major share of the global refrigeration lubricants market, due to increased demand from industrial and automotive sectors and advantageous regulatory policies in the region. The region is followed by Europe. The refrigeration lubricants market in BRICS is expected to register a high growth rate during the forecast period, due to rapid industrialization. Pricing of mineral oil, synthetic oil, and bio-based oil lubricants is a major challenge. Shipping disputes and supply uncertainties contribute significantly to variation in these prices.
Prominent players operating in the refrigeration lubricants market are included in this report to give a better competitive analysis and these are ExxonMobil Corporation, BASF Performance Chemicals, Royal Dutch Shell plc, Petronas Lubricants Belgium NV (Suniso), The Lubrizol Corporation (Emkarate® RL), and Calumet Specialty Products Partners, L.P.
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