HVAC Ukranie-Russia War - HVAC Impact in Asia

The refrigerator & freezer application is
estimated to be the largest segment of the
refrigeration oil market, in terms of value,
during the forecast period. 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.
APAC is estimated to be the largest market for
Refrigeration Oil during the forecast period.
The APAC region is estimated to lead the
refrigeration oil market in 2018 in terms of value
and volume. The increasing population in the
region and the rising 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, increasing employment
rate, rising disposable income of the people,
and mounting foreign investments in various
sectors of the economy are some of the other
factors that make APAC an attractive market
for refrigeration oil manufacturers.
The 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), and Johnson
Controls (Ireland).
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