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Refrigeration Oil Market | Exactitude Consultancy Reports

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Refrigeration Oil Market by Product Type (Mineral Oil, Synthetic Oil) Refrigerant Type (Hydro Chlorofluorocarbon (HCFC), Chlorofluorocarbon (CFC), Hydro Fluorocarbon (HFC), Ammonia) Application (Refrigerators & Freezers, Air Conditioner, Automotive AC System, Aftermarket) End Use Outlook (Residential, Commercial, Industrial) by Region Global Trends and Forecast from 2022 to 2029

The global refrigeration oil market size was valued at USD 1.35 billion in 2020, and projected to reach USD 2.09 billion by 2029, with a CAGR of 4.98% from 2022 to 2029.

Refrigeration oil is created by combining oil and additives specifically designed for use in cooling systems. Refrigeration oil’s purpose is to effectively lubricate the movable parts of the refrigerant compressor. Oil flows under high pressure to change from liquid to vapor and generates a cooling effect due to its remarkable chemical and thermal stability. It also has a high viscosity, a low pour point, and is free of contamination.

Segment Analysis
The global refrigeration oil market has been segmented into mineral oil and synthetic oil based on product type. The latter is currently in high demand and is expected to be worth USD 1,314.4 million by 2025. This high demand for synthetic oil is due to its compatibility with the refrigerant used in the system. Mineral oil, on the other hand, has more advantages over synthetic oil, which equates to its use as a thermal fluid in mechanical and industrial implementations.

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