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Refrigeration Oil Market Trends

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Report ID: 3107
Published Date: Sep 12, 2024
Report Format: PDF, PPT

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Refrigeration Oil Market Trends

Growth Drivers

Rising Demand for Consumer Appliances
Growing Food & Beverages Industry
Growing Automotive Industry

Challenges

Stringent Regulations on the Use of Fluorocarbon Refrigerant System

Refrigeration Oil Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	4.8%
Base Year Market Size (2023)	USD 1.49 billion
Forecast Year Market Size (2036)	USD 2.74 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Refrigeration Oil Market Size & Share, Growth Forecast 2036

Author Credits: Rajrani Baghel

Report ID: 3107
Published Date: Sep 12, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing demand for vehicles and refrigerators, for various applications are the major factors driving the market growth.

The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2030.

Government regulations on using fluorocarbon-based refrigeration systems is a major factor estimated to hamper the market growth.

The market in the North America will provide the highest growth opportunities for the market during the forecast period on the back of increasing manufacturing and sale of vehicles.

The major players in the market are BASF SE, Shell International B.V., China Petrochemical Corporation (SINOPEC), Exxon Mobil Corporation, Lubrizol Corporation, Petroliam Nasional Berhad (PETRONAS), and others.

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