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Refrigerant Oil Business to Soar Due to Increasing Demand from Asia-Pacific Region.

The report " Refrigerant Oil Market– By Oil Type (Mineral Oil, AB, PAO, PAG and POE), By Refrigerant Type (CFC, HCFC, HFC and Others), By End-User Industry (Automobiles, Household, Commercial and Industrial) and By Geography- Trends and Forecast to 2020", defines and segments the Refrigerant Oil Market with analysis and forecasting of the global revenues for Refrigerant Oil Market. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, winning imperatives, and challenges.

Browse Market Data Tables, Figures spread through 120 pages and in-depth TOC on “Refrigerant Oil Market– By Oil Type (Mineral Oil, AB, PAO, PAG and POE), By Refrigerant Type (CFC, HCFC, HFC and Others), By End-User Industry (Automobiles, Household, Commercial and Industrial) and By Geography - Trends and Forecast to 2020”.

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Refrigeration is the process of cooling a substance or an area below the temperature of the surroundings. The refrigerants follow a cycle which includes vapour-compression, absorption, steam ejection and air. Along with refrigerants, ascends the need for refrigerant oils. Oil is added in the refrigeration system to lubricate compressor bearings and other moving parts. Global refrigeration oil market is segmented based on different criteria such as base oil type, refrigerant type, end user and by geography. Different types of base oil include mineral oil, alkyl benzene oil (AB), poly alpha olefins (PAO), poly alkylene glycols (PAG) and polyol ester oil (POE). Chloroflurocarbon (CFC), hydrochloroflurocarbon (HCFC), hydroflurocarbon (HFC) and other refrigerants are taken into consideration while segmenting the market by refrigerant types. Various end users of refrigeration oil include automobiles, household, commercial and industrial.

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Global refrigerant oil market is estimated to grow at a considerable CAGR of 4.4% from 2015 to 2020. In 2014, Asia-Pacific (APAC) region occupied 38.2% share in the global refrigerant oil market, owing to the presence of numerous refrigerant oil providers and end user industries. For the period of 2015 to 2020, it is estimated that the APAC market will grow at a high CAGR of 5.7%. America held the second major share followed by Europe and rest of the world (RoW).

Strong demand for HFC in consumer durables and the automotive industry is one of the major drivers for refrigeration oil market.

Growing urbanization makes it inevitable for the OEMs to increase production of air conditioners and refrigerators in people rich countries. Because of the fast pace in growth of consumer electronics market, there is an upsurge in the demand for refrigerant oils especially in the developing countries.

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The selection of refrigerants which are compatible with environment and do not emit greenhouse gasses (GHG) is a daunting task. An ideal refrigerant should be compatible with the environmental policies, should be non-toxic and non-flammable and should also be commercially available. On the contrary, recent amendments through Montreal protocol and regulations have affected the choice of refrigerants in end products. However, the natural refrigerants which are in usage as alternative to phase-out refrigerants are estimated to rule the future market.

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