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Secondary Refrigerants Market- Global Industry Analysis, Size, and Forecast, 2018 - 2026

Harshal Deshmukh
 


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According to a new report published by Transparency Market Research, the refrigeration lubricants market will record significant growth owing to the rising demand for healthcare and food supply across the globe. The report titled, “Refrigeration Lubricants Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026, ” anticipates that the global market will grow remarkably during the forecast period.

Lubricants play a vital role in the reduction of friction and wear and tear of operating parts of different machines. The movement of certain mechanical parts is possible only in the presence of lubricants. This property to reduce friction is known as lubricity.

A good lubricant is expected to possess properties such as high boiling point, high viscosity index, corrosion prevention, thermal stability, low freezing point, and high resistivity to oxidation. Lubricants extend the shelf-life of mechanical parts, thereby ensuring higher efficiency. They are employed to facilitate smooth operation of mechanical parts and remove residues, if any, deposited on these parts.

Refrigeration lubricants are essential for the performance and longevity of a refrigeration system. The choice of lubricant depends on the system, the refrigerant, and the type of application. A wide range of refrigeration lubricants are available in the market, with a varying range of viscosities and packaging sizes. Different types of oils are used in the formulation of refrigeration lubricants such as mineral oils, alkyl benzene oils, poly alpha olefins (PAOs), poly alkylene glycols (PAGs), and polyol ester oils (PEOs). The most commonly utilized refrigeration lubricants are hydrocarbon-based.

Use of vegetable oils and animal fats in manufacturing has been a practice for several years. Discovery of petroleum and availability of low-priced oils have led to a paradigm shift in use of raw materials in manufacturing. However, the rise in concerns related to environment is again shifting the focus toward bio-based lubricants.

Over the last five years, there has been a significant rise in the number of regulations regarding protection of the environment. Bio-based lubricants are derived from natural sources such as vegetable oils and animal oils. They are biodegradable/eco-friendly in nature.

Decrease in the world’s crude oil reserves, increase in oil prices, and issues related to conservation have rebuilt the appeal of using bio-based materials. The use of fats and natural oils for non-edible purposes worldwide has become possible due to development of biodegradable, renewable, and eco-friendly industrial fluids such as bio-lubricants.

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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. We are leaders in analytics, research, and advisory services for Fortune 500 companies, scores of high potential startups, and financial institutions. Our success stories have proven why we are a preeminent provider of cutting-edge syndicated and customized research services. Leverage the best of our seasoned research analysts who hold a keen interest and enviable expertise of almost 4 million hours in global, regional, and local market intelligence. TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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