Refrigeration Oil Market worth 1,243.6 Million USD by 2022

The report “Refrigeration Oil Market by Oil Type (Mineral Oil, Synthetic Oil (Polyolester, Polyalkylene Glycol)), Application (Refrigerator & Freezer, Air Conditioner, Automotive AC System, and Aftermarket), and Region – Global Forecast to 2022″ The refrigeration oil market is projected to reach USD 1,243.6 Million by 2022, growing at a CAGR of 4.3% from USD 1,005.2 Million in 2017. Emerging economies are witnessing rapid urbanization along with a rise in disposable income. The consequent rise in the standard of living and growing consumption of convenience/packaged food products, coupled with the mass adoption of vaccines and drugs will drive the demand for refrigerators, freezers, air conditioners, and automobile HVAC systems. This will fuel the demand for refrigeration oil, ultimately driving the refrigerator oil market.

Browse 94 market data Tables and 39 Figures spread through 131 Pages and in-depth TOC on “Refrigeration Oil Market”

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The synthetic oil segment was the largest oil type segment of the refrigeration oil market.

The synthetic oil segment accounted for the largest share of the refrigeration oil market in 2017, in terms of value. Synthetic refrigeration oil has several advantages over conventional mineral refrigeration oil, such as high performance in extreme conditions, better viscosity index, higher shear stability, and improved chemical resistance. In addition, its compatibility with low GWP and modern refrigerants gives it an added advantage over mineral refrigeration oil.

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The refrigeration & freezer segment is estimated to be the largest application segment of the refrigeration oil market in 2017.

The refrigerator & freezer segment is estimated to be the largest application segment of the refrigeration oil market, in terms of both, value and volume, in 2017.  The growth of this segment can be attributed to the rising demand for packaged food items and the changing lifestyle of people in developed and developing regions.

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APAC is estimated to be the largest market for refrigeration oil in 2017.

The Asia Pacific region is estimated to lead the refrigeration oil market in 2017 in terms of value and volume. The increasing population in the region and the increased demand for refrigerators, freezers, air conditioners, and automobiles in the emerging markets of APAC, such as China and India, are some of the major factors projected to drive the demand for refrigeration oil in the region. Furthermore, the improving lifestyle, increase in employment rate, rise in disposable income of the people, and increase in foreign investments in various sectors of the economy are some of the other factors that make APAC an attractive market for refrigeration oil manufacturers.

Key market players profiled in the report include JXTG Group (Japan), BASF  (Germany), Idemitsu Kosan Co. (Japan), Royal Dutch Shell  (Netherlands), ExxonMobil (US), BP (UK), PETRONAS (Malaysia), Chevron (US), Total (France), Sinopec Group (China), FUCHS (Germany), Johnson Controls (Ireland), The Lubrizol (CPI Fluid Engineering Services) (US), Behr Hella Service GmbH (Germany), BVA, Inc. (US), Calumet Specialty Products Partners, L.P. (US), CAMCO Lubricants (US), CITGO Petroleum Corporation (US), Cosmo Oil Lubricants Co., Ltd. (Japan), Eni (Italy), Indian Oil Corporation (India), Isel (US), National Refrigerants, Inc. (US), Summit Oil Company (US), Lubriplate Lubricants Company (US), Lukoil (Russia), Petro-Canada Lubricants Inc. (Canada), Phillips 66 Lubricants (US), and Sun Company, Inc. (US).  

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Epoxidized Soybean Oil Market worth 691.7 Million USD by 2026

The report “Epoxidized Soybean Oil Market by Raw Material (Soybean Oil, Hydrogen Peroxide), Application (Plasticizers, UV Cure Applications, Fuel Additives), End-use Application (Foods & Beverages, Adhesives & Sealants, Automotives) – Global Forecast to 2026″, The global Epoxidized Soybean Oil (ESBO) market is projected to reach USD 691.7 Million by 2026, at a CAGR of 11.04% from 2016 to 2026.

Browse 155 market data tables and 62 figures spread through 189 pages and in-depth TOC on “Epoxidized Soybean Oil Market – Global Forecast to 2026″
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This growth is fueled by the expected high demand from the application segment due to the easy availability of epoxidized soybean oil in large volumes, and at lower prices. Further, the global demand for epoxidized soybean oil in the North American, Asia-Pacific, and European regions is growing due to stringent environmental regulations. Epoxidized soybean oil is preferred as against phthalate-free stabilizers in PVC applications, and hence ESBO is used widely as an additive in plasticizers.

Soybean oil: The most-widely used raw material for the production of epoxidized soybean oil

Soybean seeds are crushed in order to obtain soybean oil for use in manufacturing epoxidized soybean oil. For the production of ESBO, soybean oil is used as the basic raw material. As compared to other bio-based oils, soybean oil is preferred by oleo chemicals producers due to its low cost and easy availability. The use of ESBO helps application industries to reduce production costs and to maximize profitability margins.

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Plasticizers: The largest application of epoxidized soybean oil

Polymer materials are made flexible, user-friendly, and resilient with the addition of plasticizers. When ESBO undergoes heat treatment, it acts as a scavenger for hydrochloric acid liberated from poly vinyl chloride. ESBO being a bio-based plasticizer, is gaining traction in PVC stabilization applications over the phthalate plasticizers.

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North America: The largest market for epoxidized soybean oil

The North American region is the largest market in the global epoxidized soybean oil market, in terms of value, and this trend is expected to continue till 2026. Countries in this region such as U.S, Canada and Mexico are achieving symbolic increase in the use of epoxidized soybean oil in the plasticizer application industry. This growth is due to the easy availability of raw materials in large quantities and at lower costs, which is driving the demand for epoxidized soybean oil in this region. U.S is the largest market for epoxidized soybean oil and is projected to continue this trend till 2026. The epoxidized soybean oil market has various global players competing for significant market shares. These companies are actively investing in various strategies such as, new product developments, acquisitions, and joint ventures & partnerships globally to further strengthen their market shares. Major manufacturers such as, The DOW Chemical Company (U.S), Galata Chemicals LLC (U.S), CHS Inc. (U.S), Ferro Corporation (U.S), and others have adopted various organic and inorganic developmental strategies in the North American region.

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