Refrigeration Lubricants Market Report 2018-2026 | Industry Trends and Analysis

May 22, 2020
Global Refrigeration Lubricants Market: OverviewLubricants play a vital role in the reduction of friction and wear and tear of operating parts of different machines. The movement of certain mechanical parts is possible only in the presence of lubricants. This property to reduce friction is known as lubricity. A good lubricant is expected to possess properties such as high boiling point, high viscosity index, corrosion prevention, thermal stability, low freezing point, and high resistivity to oxidation. Lubricants extend the shelf-life of mechanical parts, thereby ensuring higher efficiency. They are employed to facilitate smooth operation of mechanical parts and remove residues, if any, deposited on these parts.Refrigeration lubricants are essential for the performance and longevity of a refrigeration system. The choice of lubricant depends on the system, the refrigerant, and the type of application. A wide range of refrigeration lubricants are available in the market, with a varying range of viscosities and packaging sizes. Different types of oils are used in the formulation of refrigeration lubricants such as mineral oils, alkyl benzene oils, poly alpha olefins (PAOs), poly alkylene glycols (PAGs), and polyol ester oils (PEOs). The most commonly utilized refrigeration lubricants are hydrocarbon-based.Request a PDF Brochure @ Refrigeration Lubricants Market: DriversMajor factors driving the refrigeration lubricants market are 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.Global Refrigeration Lubricants Market: Key SegmentsBased on end-user, the refrigeration lubricants market for refrigeration lubricants can be 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.Global Refrigeration Lubricants Market: Key PlayersKey players operating in the refrigeration lubricants market 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.Request a COVID-19 Impact Analysis @ Transparency Market Research’s award-winning coverage of the global Chemicals and Materials Industry.
Article Categories:

Leave a Comment