There is a continuous growth in “Refrigeration Lubricants” Market in last five years and also continue for the forecast year 2023. Refrigeration Lubricants industry report analyses the outline of the global market with respect to major regions and segmented by types and applications. Refrigeration Lubricants Market covers top manufacturers, product scope, market overview, market opportunities, market risk, market driving force, technological advancement, distributors, traders, dealers, research findings.
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The global refrigeration lubricants market is expected to register a CAGR of 3.10% during the forecast period, 2018 to 2023. Asia-Pacific accounted for the largest market in 2017. Asia-Pacific is also expected to register the fastest growth during the forecast period.
Expansion of the Global Cold Chain Market
Cold chain is a temperature controlled supply chain, uninterrupted storage and distribution activities, which maintain a given temperature range. Cold chain market operations that are meant to extend and ensure the shell life of fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs are expected to increase due to the considerable growing demand from the consumers because of change in lifestyles and growth in advanced technology. For instance, the global demand for frozen food has continued to grow, driven by the convenience with consumers. Meat segment has accounted for the highest share of the frozen food market, followed by frozen fish/sea food, fruits, and vegetables, etc. With increased consumer demand for frozen food products and a highly competitive market with low margins, food processors, distributors and retailers are shifting from the manually operated obsolete facilities to high bay deep-freeze warehouses. Moreover, the expansion of food retail chains by multinationals and the growth in international trade due to trade liberalization have led to an increase in the demand for the cold chain process.
Air Conditioning – The Largest Application
Refrigeration lubricants have multiple purposes, such as, removing heat, lubricating moving parts, acting as a sealant, and cooling the key parts of compressors. Some major features of refrigeration lubricants include high resistance to oxidation, resistance to thermal degradation, non-foaming, water separation, anti-wear properties, and corrosion resistance. Petroleum refineries are one of the major consumers of refrigeration lubricants, as some of the major processes are subjected to refrigeration. Globally, the increasing consumption of air conditioners for commercial and residential purposes is estimated to boost the refrigeration lubricants market.
Asia-Pacific the Largest Market
Asia-Pacific region was the largest market for refrigeration lubricants. This growing demand for refrigeration lubricants can be attributed to the increasing use of air conditioning systems for domestic and industrial applications. China dominated the market due to the growing population in urban areas, and increasing use of lubricant refrigerants replacing gaseous lubricants due to emission problems associated them. The growing Chinese cold chain logistics industry, which constitutes refrigeration trucks, and cold storages, is one of the major drivers of the market. With the growing demand from end-user industries, the consumption of refrigeration lubricants is projected to increase during the forecast period.
Key Developments in the Market
April 2017: Lanxess completed acquisition of US-based Chemtura Corporation
Major Players: Shell, Exxon Mobil Corporation, Chevron Corporation, Idemitsu Kosan Co., Ltd., FUCHS, and Total, amongst others.
Major Regions: – US, Canada, Mexico, Argentina, Brazil, Rest of South America,Germany, Italy, Spain, UK, Rest of Europe, China, India, Japan, Rest of Asia-Pacific, Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa,
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- Analysing various perspectives of the Refrigeration Lubricants market size with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness fastest Refrigeration Lubricants market growth during the forecast period.
- Identify the latest developments, Refrigeration Lubricants market shares and strategies employed by the major market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
Major Points Covered in Table of Content of Refrigeration Lubricants Market forecast 2023
1. Introduction of Refrigeration Lubricants Market Report
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Refrigeration Lubricants Market Trends
4.2 Market Trends
4.3 Porter’s Five Force Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Refrigeration Lubricants Market Dynamics
6.Global Refrigeration Lubricants Market, Segmented by Size
7. Global Refrigeration Lubricants Market, Segmented by Technology Type
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8. Global Refrigeration Lubricants Market, Segmented by Geography
8.1 North America
8.1.1 United States
8.2 South America
8.4.1 United Kingdom
8.5 Africa and Middle East
8.5.2 South Africa
8.5.3 Saudi Arabia
9. Competitive Landscape
9.2 Market Share Analysis
9.3 Developments of Key Players
10. Key Vendor Analysis (Overview, Products & Services, Strategies)
11. Future Outlook of the Market
And Many More……….
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