Refrigeration Oil Market 2025 Growth, Trends Analysis Report 2035

 The global refrigeration oil market is forecast to rise from USD 1,695.5 million in 2025 to USD 2,887.2 million by 2035, growing at a robust CAGR of 5.5%. This surge is propelled by increasing demand for energy-efficient HVAC systems, expansion of the cold chain logistics sector, and a shift toward low-global-warming-potential (GWP) refrigerants and synthetic oils aligned with environmental regulations.

The global refrigeration oil market is set to grow steadily from 2025 to 2035, driven by the rising demand for energy-efficient HVAC systems, expansion of cold chain logistics, and increasing adoption of low-GWP refrigerants. Innovations in synthetic and biodegradable oils are aligning with strict environmental regulations, while growing sectors like pharmaceuticals, e-commerce, and food processing continue to boost the need for high-performance refrigeration lubricants across major economies.

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Market Trends Highlighted:

  • Adoption of Low-GWP Refrigerants: Regulatory mandates globally are pushing manufacturers toward refrigerants and oils with reduced environmental impact, fueling innovation in synthetic and biodegradable lubrication technologies.
  • Growth of E-commerce and Cold Storage Infrastructure: Increased demand for frozen and perishable goods—especially post-pandemic—has fueled expansion in commercial refrigeration, raising the consumption of refrigeration oils.
  • Smart HVAC and AI-Driven Cooling Technologies: Advanced cooling systems with sensors and automation demand high-performance, low-viscosity oils to maximize system efficiency and longevity.
  • Rise in Pharmaceutical Cold Chains: The need to store temperature-sensitive vaccines and biologics is fostering demand for ultra-stable and high-performance refrigeration oils.

 

Key Takeaways of the Report:

  • Market Size: Expected to reach USD 2.88 billion by 2035, with strong adoption across industrial, commercial, and residential refrigeration segments.
  • CAGR: 5.5% growth rate during the forecast period (2025–2035), driven by technological upgrades and sustainability-focused reforms.
  • Dominant End-Uses: Food processing, e-commerce grocery delivery, HVAC, and pharmaceutical sectors are top consumers of refrigeration oils.
  • Technological Innovation: Manufacturers are increasingly developing bio-based, ultra-low-viscosity, and long-life synthetic oils compatible with next-gen refrigerants and AI-driven cooling systems.

 

Regional Market Outlook:

United States – CAGR: 5.7%

U.S. growth is propelled by:

  • Surge in cold storage warehouses supporting e-grocery services.
  • EPA regulations driving low-GWP oil adoption.
  • Increased demand for pharmaceutical cold chains and energy-efficient HVAC systems.

United Kingdom – CAGR: 5.3%

Growth drivers include:

  • Net Zero 2050 policies encouraging eco-friendly refrigerants and lubricants.
  • Rise in online grocery and smart refrigeration systems.
  • Increasing demand for synthetic oils in retail and pharmaceutical cold chains.

European Union – CAGR: 5.5%

Factors supporting growth:

  • EU F-Gas Regulation phasing out harmful refrigerants.
  • Expansion of food processing and beverage cold chain industries.
  • Integration of solar-powered and CO₂-based cooling systems increasing demand for specialty synthetic oils.

Japan – CAGR: 5.2%

Growth backed by:

  • Expanding semiconductor and EV cooling applications.
  • Government’s strict environmental regulations pushing biodegradable oils.
  • Rise of Zero-Energy Buildings (ZEBs) and smart HVAC technologies.

South Korea – CAGR: 5.4%

Key growth areas:

  • Booming e-commerce and cold logistics.
  • Rise in semiconductor production, needing high-performance oils.
  • Government focus on low-emission HVAC systems and AI-enabled cooling.

Company Profile

·         Chevron Corporation

·         BP Plc (Castrol Lubricants)

·         ENEOS Corporation

·         China Petroleum & Chemical Corporation (Sinopec)

·         Klüber Lubrication GmbH & Co. KG

·         Lubrizol Corporation

·         Petro-Canada Lubricants Inc.

·         Indian Oil Corporation

·         Phillips 66 Company

·         Sunoco LP

·         Other Major Players

Key Segments

By Product Type:

  • Mineral Oil
  • Synthetic Oil
    • Polyol Ester
    • Poly Alpha Olefin
    • Alkyl Benzene
    • Polyalkylene Glycol
    • Polyvinyl ether
    • Others (Phenol Propoxylate oil etc.)

By Refrigerant Type:

  • Chlorofluorocarbon (CFC)
  • Hydro-chlorofluorocarbon (HCFC)
  • Hydro-fluorocarbon (HFC)
  • Ammonia
  • Others

By Application:

  • Air Conditioners
  • Coolers
  • Chillers
  • Refrigerators/ Freezers
  • Condensers
  • Others (Ice Machines etc.)

By End Use:

  • Industrial
  • Commercial
  • Residential

By Region:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

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 About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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