Market Size (2017)
2017
$1.10B
Chemicals & Materials
Refrigeration Oil Market
By Segment, By Region, And Segment Forecasts, 2017 – 2025
Vertical: CNMBase Year: 201811 Sections
Executive Summary
Refrigeration Oil Market — Snapshot
Projected (2025)
2025
$1.56B
CAGR (2017–2025)
4.5%
4.5%Key Players
110+
The global refrigeration oil market was valued at USD 1,145.0 million in 2018 and is projected to reach USD 1,562.2 million by the end of 2025, at a CAGR of 4.64%. In terms of volume, the global market was pegged at 301.9 kilotons in 2018 and the demand is projected to reach 389.4 kilotons by the end of 2025.
The growth of the global refrigeration oil market is driven by the increasing use of refrigeration systems in the food & beverage, chemical, plastics processing, oil & gas, and medical industries. The increasing consumption of frozen and packaged food products has surged the demand for refrigeration systems to store goods at the required temperature, which is driving the demand for refrigeration oil. The expanding healthcare industry with increased spending on development of new drugs is likely to increase the requirement of refrigeration system to store drugs and vaccines and thus, drive the growth of the global refrigeration oil market. The increasing adoption of air conditioners and refrigerators in households particularly in developing countries is another important factor propelling global market growth.
Additionally, the surge in the demand for refrigerants with less and zero global warming potential (GWP) and ozone depletion potential (ODP) for automobile air conditioning systems to reduce environmental emissions is likely to drive the demand for refrigerant oils that are compatible with the new refrigerants, particularly in the developed countries and thus drive the market growth.
The development of new refrigeration oil for CO2 and ammonia refrigeration systems as a result of the increasing adoption of natural refrigerants in the refrigeration applications is the prominent trend prevailing in the global refrigeration oil market.
Moreover, the increasing demand for high-quality refrigeration oil for CO2 and ammonia refrigeration systems is projected to create lucrative opportunities for the players operating in the global refrigeration oil market in the coming years.
The global refrigeration oil market has been segmented by type, refrigerant type, and application.
Based on type, the global refrigeration oils market has been segmented into synthetic oil and mineral oil. In terms of volume, the mineral oil type segment dominated the global market with 57% share in 2018, while in terms of value, the synthetic oil type segment accounted for the largest share with market value of USD 742 million in 2018 and is expected to register a CAGR of 5.28% during the review period. The growing demand for synthetic oil is attributed to the increasing adoption of low GWP refrigerants over conventional high GWP HFCs (hydrofluorocarbons) and HCFCs (hydrochlorofluorocarbons).
The synthetic oil segment has been sub-segmented into polyol ester, polyalkylene glycol, polyalphaolefin, alkyl benzene, and polyvinyl ether. The polyalphaolefins segment accounted for the largest share in 2018 with a market value of USD 196.6 million and is expected to register a CAGR of 5.69% during the review period.
Based on refrigerant type, the global refrigeration oils market has been segmented into hydrofluorocarbon (HFCs), ammonia/CO2, and others. The ammonia/CO2 type segment accounted for the largest share in 2018 with a market value of USD 612.6 million and is expected to register the highest CAGR of 6.38% during the review period. The market growth can be attributed to the increasing adoption of natural refrigerants over conventional HFCs and HCFCs.
On the basis of application, the global refrigeration oils market has been divided into refrigerator and freezer, chillers, air-conditioners, automotive AC systems, aftermarket, and others. The refrigerators and freezer segment dominated with the largest market share of 31% in 2018. The segment was valued at USD 359.5 million in 2018 and is estimated to reach USD 488.6 million by the end of 2025 with a CAGR of 4.59% during the forecast period. The market growth can be attributed to the increasing penetration of refrigerators and freezers in both commercial and residential sectors.
By region, the global refrigeration oils market has been bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific market dominated the global refrigeration oils market with a share of 38.9% by value in 2018 and is expected to continue dominance during the forecast period. The regional market was valued at USD 445.4 million in 2018 and is expected to register a CAGR of 5.89% during the forecast period to reach USD 660.6 million by the end of 2025. The market growth in Asia-Pacific is driven by various factors including increasing automobile production, rising demand for air-conditioners in the residential sector, and growing food & beverage, oil & gas, chemical, and medical industries. The European refrigeration oil market accounted for second-largest share in 2018 and is expected to register a CAGR of 3.4% during the review period. The market growth in Europe and North America is primarily driven by increasing demand for natural refrigerants due to increasing F-gas regulations which has resulted in phase out of use of HFCs and HCFCs. The refrigeration oil market growth in Latin America and the Middle East & Africa is expected to be driven by rising demand for air-conditioners in the residential sector and increasing industrialization.
Key Insight
The Refrigeration Oil Market market is projected to grow at a CAGR of 4.5% from 2017 to 2025.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Scope & Coverage
What this report covers
- Geographic Coverage: This analysis covers 5 regions: Middle East and Africa, North America, Asia Pacific, Europe, South America.
- Market Segmentation: The market is analyzed across 2 segments: Synthetic Oil, Mineral Oil. Forecasts are provided for each segment from 2017 to 2025.
- Competitive Landscape: 110 leading companies are profiled, covering market positioning, strategies, and recent developments.
Market Size (USD Mn)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Overview
Refrigeration Oil Market — Growth Trajectory
Refrigeration oil is derived from either synthetic oil or mineral oil. It is formulated by mixing oil and additives designed for its use in cooling systems. The purpose of refrigeration oil is to lubricate moving parts in the refrigerant compressor effectively. The oil flows under high pressure to turn from liquid to vapor state to generate a cooling effect on account of its high chemical and thermal stability. Also, it exhibits high viscosity, low pour point, and contamination-free
Refrigeration Oil Market — Growth Trajectory
Synthetic Oil
Mineral Oil
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Size Trend (USD Mn)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Dimensions
How this market is segmented
- Type Type is broken down into: Synthetic Oil, Mineral Oil.
- Application Application is broken down into: Refrigerator And Freezer, Chillers, Air Conditioners, Automotive AC Systems, Aftermarket, Application_Others.
Geographic Analysis
Regional market breakdown
- Middle East and Africa Middle East and Africa market size reached $66.10M in 2017 and is projected to reach $94.10M by 2025, growing at a CAGR of 4.5%.
- North America North America market size reached $258.80M in 2017 and is projected to reach $344.10M by 2025, growing at a CAGR of 3.6%.
- Asia Pacific Asia Pacific market size reached $423.60M in 2017 and is projected to reach $660.60M by 2025, growing at a CAGR of 5.7%.
- Europe Europe market size reached $276.60M in 2017 and is projected to reach $356.50M by 2025, growing at a CAGR of 3.2%.
- South America South America market size reached $77.40M in 2017 and is projected to reach $106.90M by 2025, growing at a CAGR of 4.1%.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansResearch Methodology
Refrigeration Oil Market — How We Researched This Market
RESEARCH PROCESS Market Research Future analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, as well as the emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and the current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based on primary and secondary research
PRIMARY RESEARCH Extensive primary research was conducted to gain a deeper insight into the market and industry performance. For this report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five to 10 years.
SECONDARY RESEARCHSecondary research was conducted to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the refrigeration oil market. It was also used to obtain key information about major players, market classification and segmentation according to industry trends, regional markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organizations of chemical manufacturers, and paid databases. Also, various associations and data bases such as International Institute of Refrigeration (IIR), the Independent Lubricant Manufacturers Association (ILMA), International Lubricants Magazine, Polish Oil Industry and Trade Organization, The Polish Association of Oil Producers (PSPO), Union of the European Lubricants Industry (UEIL), The Refrigeration & Air-Conditioning Trades Association Ltd. (RATA), The Japan Refrigeration and Air Conditioning Industry Association (JRAIA), The Australian Refrigeration Association, Air Conditioning, Heating and Refrigeration Institute (AHRI), and European Chemical Industry Council.
MARKET SIZE ESTIMATIONBoth the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of the global refrigeration oil market. The key players in the market were identified through secondary research, and their market contributions in the respective regions were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis by Market Research Future added before being presented in this report. The following figure shows an illustrative representation of the overall market size estimation process employed for this study.
Base Year
2018
Historical Period
2017 – 2018
Forecast Period
2018 – 2025
Primary Interviews
150+
Research Process
Historical data (2017–2018) and forecast period (2018–2025)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Historical vs. Forecast Data
Historical (observed)
Forecast (modelled)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansQuantitative Analysis
Regional Breakdown
Regional market breakdown for Refrigeration Oil Market.
Regional Market Size (USD Mn)
Market estimates by geography (2025)
USD Mn
InsightAsia Pacific leads with $660.60M by 2025.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansRegional Market Data
| REGION | 2017 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $66.10M | $77.80M | $94.10M | 4.5% | 6% |
| North America | $258.80M | $294.30M | $344.10M | 3.6% | 22% |
| Asia Pacific | $423.60M | $521.70M | $660.60M | 5.7% | 42% |
| Europe | $276.60M | $309.70M | $356.50M | 3.2% | 23% |
| South America | $77.40M | $89.70M | $106.90M | 4.1% | 7% |
| Total | $1.10B | $1.29B | $1.56B | 4.5% | 100% |
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSegment Revenue (2025)
Synthetic Oil
Mineral Oil
02915818721162
Segment Market Share
- Synthetic Oil68%
- Mineral Oil32%
Total Market Size
$1.56B
Market by Segment (2025)
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Synthetic Oil | $1.06B | 4.5% | 61% |
| Mineral Oil | $506.00M | 4.5% | 89% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansEmpower your Business
with InsightsSave over 20% on
with Insights
Save over 20% on
Annual Subscription
See plans for professionals or small and medium businesses.
Analytics
Refrigeration Oil Market — Key Findings
Analytical insights on Refrigeration Oil Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
The Refrigeration Oil Market market is projected to reach $1.56B by 2025, growing at 4.5% CAGR. The Synthetic Oil segment holds the largest share.
Market Dynamics
The global refrigeration oil market is projected to register a robust CAGR of 4.64% during the forecast period. The growth of the global refrigeration oil market is primarily driven by the increasing demand for refrigeration systems in the food & beverage, healthcare, and chemical industries. The increasing demand for ultra-low GWP refrigerants in automobile air conditioning systems owing to increasing F-Gas regulations is expected to drive the demand for refrigeration oil at a significant rate during the review period.
Similarly, the increasing adoption of natural refrigerants such as CO2 , ammonia, and hydrocarbons over conventional refrigerants due to phase out of their use has resulted in increased development of new refrigeration oil that is compatible with natural refrigerants.
Furthermore, the growing demand for high-quality synthetic oil for CO2 and ammonia refrigeration systems is expected to create lucrative opportunities for the players operating in the global refrigeration oil market in the coming years.
However, there are players in the refrigeration oil market that are yet to manufacture synthetic oil that can be used in CO2 and ammonia refrigeration systems. Hence, phasing out of use of HFCs and HCFCs due to their high GWP is likely to hamper the market growth during the review period
Market Drivers
Refrigeration systems are widely used in the food & beverage, chemical, plastics processing, and medical industries. The refrigeration systems in the commercial sectors are used in small plug-in vending machines, food service coolers, display cabinets, and supermarkets, whereas industrial refrigeration systems find applications in the healthcare and chemical industries. The use of refrigeration systems in the food industry is essential to preserve perishable foodstuffs and reduce post-harvest and post-slaughter losses. They also reduce the need for chemical preservatives in food. The increasing consumption of frozen and packaged food products has surged the demand for refrigeration systems to store goods at required temperature. In addition, refrigeration systems play an important role in cold chains to transport food products from the point of manufacturing to point of distribution to ensure the quality and safety of the beverages and perishable food products.
The increasing demand for ammonia and CO2 -based food and beverage refrigeration systems owing to their superior benefits as compared to conventional refrigerants such as HCFCs, particularly in developed countries, is expected to drive the global market growth. The growing food production on account of increasing demand, especially in developing nations, is also expected to support the demand for refrigeration systems. Furthermore, refrigeration systems are widely used in the healthcare industry to preserve pharmaceuticals, medicines, and vaccines. The increasing investments in R&D in the pharmaceutical industry has resulted in an increase in the number of vaccines and drugs synthesized, which need to be stored at an appropriate temperature.
Furthermore, the demand for refrigeration systems has increased in the oil & gas industry in gas liquefaction process wherein the gas is converted into the liquid state. The increasing trade of liquified natural gas is likely to propel the demand for chillers and thus, refrigeration oil at a substantial rate in the coming years. According to the International Institute of Refrigeration, in 2014, the world trade of liquified natural gas increased by three-times since 1997 reaching 241.1 million tons.
Thus, the increasing application of refrigeration systems in the industrial and commercial sectors is likely to consequently boost the demand for refrigeration oil and drive the global market growth at a significant rate during the review period
Market Opportunities
Although the players operating in the global refrigeration oil market are emphasizing on development of refrigeration oil that can be used in systems based on CO2 , hydrocarbons, and ammonia refrigerants, but their use is subject to certain limitations. POE and PAG are the commonly used synthetic oils in systems using natural refrigerants. For instance, usage of POE refrigeration oil in small volume systems creates high pressure resulting in higher loads and thus, hampering the performance of the system.
In addition, the demand for POE oil of high ISO grade is increasing in CO2 systems to retain the amount of viscosity required to protect the parts of the compressor, as reducing viscosity to refrigeration system working pressures with less grade POE can result in lack of lubrication in some parts of the compressor.
Furthermore, the demand for high quality is rising to be used with ammonia due to certain challenges associated with ammonia, i.e., toxicity and slight flammability.
Thus, the increasing demand for refrigeration oil with improved performance is projected to create lucrative opportunities for the players operating in the global refrigeration oil market in the coming years.
Market Restraints
HFCs and HCFCs refrigerants have been used widely in applications including air conditioners, refrigerators, freezers, and chillers. However, the high global warming potential associated with the two has made it essential to phase out the use of HCFCs an HFCs in industry practices.
HCFCs comprise hydrogen, carbon, fluorine, and chlorine chemicals. HCFCs have a low ozone-depleting rating and high GWP due to which signatories of the Montreal Protocol are required to phase out their use. According to the protocol, developed countries are required to reduce the use of HCFC by 100% by January 2020, and developing countries are required to reduce usage of HCFC by 35% by 2020; 67.5% by 2025; and 100% by 2030.
In 2015, all the signatories of the Kigali Agreement, an amendment to the Montreal Protocol, vowed to reduce the manufacturing and use of HFC. Developed countries such as the US and EU countries must reduce HFC production and use by 85% by 2036, while emerging economies such as China, Brazil, and African countries have a deadline till 2045, and developing economies such as India, Iran, and Saudi Arabia have a deadline of 2047.
HFCs comprise hydrogen, fluorine, and carbon chemicals. HFCs find applications in refrigerants, chillers, and air conditioners. These fluorocarbons have a zero-ozone depleting rating but high GWP due to which their use is subject to F-Gas (fluorinated greenhouse gas) regulations, which is likely to hamper the global market growth in the coming years.
Strategic Outlook and Future Directions
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Market Value by Segment (2025)
Value (USD Mn)
Synthetic Oil
Mineral Oil
Companies
Key companies profiled in Refrigeration Oil Market
Profiles of 110 companies operating in the Refrigeration Oil Market market, including revenue, employee count, and market positioning where available.
Showing 110 of 110 companies
INDIAN OIL
INDIAN OIL CORPORATION LTD
Chemicals & Materials
Company Headquarters: New Delhi, India Founded: 1959 Workforce: ~33,498 Company Working: Indian Oil Corporation Ltd (IOCL) carries out oil & gas exploration, production, refining, pipeline transportation, and sale of natural gas & petroleum products. Additionally, it produces and sells petrochemicals and engages in a sizable amount of alternative energy business. High-speed diesel, jet fuel, light petroleum gas, gasoline, bitumen, heavy fuel oil, naphtha, lubricants, and greases are some of the refined petroleum products offered by IOCL. The business established subsidiaries in the US, the Netherlands, Sweden, Mauritius, the UAE, and Sri Lanka. More than 35 countries, including Sri Lanka, Mauritius, Bangladesh, Nepal, several Middle Eastern nations, Indonesia, Thailand, Vietnam, and African nations, import SERVO lubricants. In each of the three key product categories—automotive oils, industrial oils, and greases—SERVO holds the largest market share. The first oil brand from the Asia-Pacific region to receive approval from marine engine builders like MAN B&W and Wartsila Sulzer is SERVO, which is the sixth oil brand overall. It is a Maharatna business owned by the Indian government.
Revenue$80.1B
Employees33,498
Market CapN/A
Founded1958
New Delhi, India
LUBRIPLATE
LUBRIPLATE LUBRICANTS COMPANY
Chemicals & Materials
Company Headquarters: New Jersey, US Founded: 1870 Workforce: ~200 Company Working: Lubriplate Lubricants Company (Lubriplate Lubricants) is the oldest independent lubricant manufacturer in the US. It is engaged in the manufacturing of lubricants for industrial, automotive, marine, recreational, and household applications. It offers a complete range of both synthetic and petroleum-based industrial lubricants. It operates its business through two product lines, namely industrial products and consumer products. Refrigeration oil is offered under the industrial products segment as compressor fluids. All the products offered by the company are manufactured at its Toledo facility, whereas the company has distribution warehouses at both Toledo and Newark facilities.
RevenueN/A
Employees200
Market CapN/A
Founded1869
New Jersey, US
PETRONAS D
PETRONAS DAGANGAN BERHAD
Chemicals & Materials
Company Headquarters: Kuala Lumpur, Malaysia Founded: 1982 Workforce: ~49,000 Company Working: PETRONAS Dagangan Berhad (PETRONAS) is one of the leading retailers and marketers of downstream oil and gas products. Petronas operates the business through three core segments retail, commercial, and others. The commercial segment offers petroleum products to the remaining commercial sector such as petrol stations and gas dealers. The retail segment deals with the distribution of petroleum products in the retail sector. The others segment includes liquefied petroleum gas (LPG) and lubricants. The refrigeration oil is offered under the lubricants segment. PETRONAS has an extensive distribution network in the Malaysian market with its retail network considered as Malaysia’s largest petroleum retail network, with over 725 Kedai Mesra and 1000 stations. Beyond Malaysia, Petronas operates three downstream companies that are PETRONAS Energy Philippines Inc in the Philippines, PETRONAS International (Thailand) Co Ltd in Thailand, and PETRONAS (Vietnam) Co Ltd in Vietnam.
Revenue$4732.7B
Employees49,000
Market CapN/A
Founded1981
Kuala Lumpur, Malaysia
BEHR HELLA
BEHR HELLA SERVICE GMBH
Chemicals & Materials
Company Headquarters: Baden-Wurttemberg, Germany Founded: 2005 Workforce: 60 Company Working: Behr Hella Service GmbH (Behr Hella) is a joint venture of the companies Behr and HELLA. It serves the global independent aftermarket for vehicle air-conditioning and engine cooling. Behr and Hella each have a 50% share in the joint venture. It offers an extensive range of products that include over 6500 different parts under 20 groups and operates across Europe, South America, NAFTA, Asia-Pacific, and South Africa. It has more than 80 sales partners across the globe. It offers various products such as cooling system and air conditioning as well as services such as training sessions and air-conditioning system maintenance. It offers air-conditioning compressor oils under the air conditioning product portfolio.
RevenueN/A
Employees60
Market CapN/A
Founded2004
Baden-Wurttemberg, Germany
TOTAL
TOTAL
Chemicals & Materials
Company Headquarters: Courbevoie, France Founded: 1924 Workforce: ~107,776 Total is an integrated oil & gas company that operates globally. It has four operating business segments, namely exploration & production; gas, renewables, & power; refining & chemicals; and marketing & services. The exploration & production segment is engaged in oil & gas exploration and production activities. The gas, renewables & power segment develops downstream gas and low-carbon electricity. The refining & chemicals segment is engaged in refining, base petrochemicals, polymer derivatives, the transformation of biomass, and the transformation of elastomers. This segment also includes the activities of trading and shipping. The marketing & services segment includes worldwide supply and marketing activities of oil products and services. Under this segment, it manufactures and markets products primarily derived from crude oil. The company offers automotive coolants under the coolants & antifreeze product line. The company has distribution activities and related services throughout the world and its product and services offerings are available in 150 countries.
Revenue$165.4B
Employees107,776
Market CapN/A
Founded1923
Courbevoie, France
ROYAL DUTC
ROYAL DUTCH SHELL
Chemicals & Materials
Company Headquarters: The Hague, The Netherlands Founded: 1907 Workforce: 82,000 Company Working: Royal Dutch Shell (Royal Dutch) is an international energy company operating through three business segments, namely integrated gas, upstream, and downstream. The integrated gas segment manages the liquefied natural gas (LNG) activities and the production of gas-to-liquids fuels and other products. The upstream segment is engaged in the exploration and extraction of crude oil, natural gas, and natural gas liquids, while the downstream segments manages different oil products and chemicals activities, which is a part of an integrated value chain that trades and refines crude oil and other feedstocks into a range of products which are moved and marketed around the world for domestic, industrial, and transport use. The downstream segment also manages oil sands activities. The company’s product portfolio includes gasoline, diesel, heating oil, aviation fuel, marine fuel, biofuel, lubricants, bitumen, and sulfur. Additionally, it also produces and sells petrochemicals worldwide. It has operations in more than 70 countries across the globe. It has interests in 21 refineries worldwide with the capacity to process a total of 2.8 million barrels of crude oil per day. It provides refrigeration oil for the marine industry under its marine lubricants product profile. It operates four base oil manufacturing plants, 31 lubricant blending plants, nine grease plants, and three gas-to-liquid base oil storage hubs. It has total 10,325 patents, including granted and pending. Its main technology centers are located in India, the Netherlands, and the US, with other centers in Brazil, China, Germany, Oman, and Qatar. It held assets worth USD 399,194 million in 2018.
Revenue$265.0B
Employees82,000
Market CapN/A
Founded1906
The Hague, The Netherlands
Page 1 of 19
…
Go to page
Powering the world's best teams.
From next-gen startups to established enterprises.
What our clients say
Trusted by forward-thinking businesses
for data-driven intelligence
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Refrigeration Oil Market
Starting from
$4,950