The Global Frozen Oil Market was valued at USD 3.84 Billion in 2023 and is projected to reach USD 5.42 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period (2023–2030). This growth is being driven by the expanding global cold chain logistics infrastructure, increased demand for refrigeration and air conditioning systems, and the global push for energy-efficient cooling solutions across multiple industries.

As industries worldwide increasingly depend on reliable refrigeration and temperature control systems, the spotlight turns to the specialized lubricant manufacturers who are enabling efficiency, reliability, and environmental compliance in these critical applications. In this blog, we profile the Top 10 Companies in the Frozen Oil Industry—a diverse group of chemical conglomerates, lubricant specialists, and energy companies driving innovation in thermal management systems.

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🔟 1. Royal Dutch Shell PLC

Headquarters: London, United Kingdom
Key Offering: Shell Clavus and Gala Series Refrigeration Oils

Shell is one of the world’s largest suppliers of refrigeration oils and lubricants, with products specifically engineered for compatibility with various refrigerants including HFCs, HFOs, and natural refrigerants. Their frozen oil portfolio serves commercial refrigeration, industrial chillers, and automotive air conditioning systems with specialized formulations for extreme low-temperature applications.

Sustainability Initiatives:

• Development of low global warming potential (GWP) lubricants

• Partnerships with OEMs for next-generation refrigerant systems

• Commitment to achieving net-zero emissions by 2050

Download FREE Sample Report: Frozen Oil Market – View in Detailed Research Report

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9️⃣ 2. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Mobil Gargoyle Arctic Series, SHC Series

ExxonMobil’s frozen oil division provides advanced synthetic and mineral-based lubricants designed for refrigeration compressors operating in sub-zero environments. The company maintains extensive R&D facilities dedicated to improving lubricant performance in extreme conditions.

Sustainability Initiatives:

• Investment in synthetic lubricant technologies for improved energy efficiency

• Global supply chain supporting HVAC-R manufacturers and service providers

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8️⃣ 3. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Emkarate RL Series, Synthetic Refrigeration Oils

BASF offers a comprehensive range of synthetic refrigeration oils, including POE (Polyol Ester) and PAG (Polyalkylene Glycol) formulations. The company’s chemical expertise enables tailored solutions for specific refrigerant-lubricant pairings.

Sustainability Initiatives:

• Development of high-stability lubricants for natural refrigerants

• Development of high-stability lubricants for natural refrigerants

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7️⃣ 4. TotalEnergies

Headquarters: Paris, France
Key Offering: Zerol ICE Series, Capella Refrigeration Oils

TotalEnergies manufactures a specialized portfolio of refrigeration lubricants that ensure optimal performance in extreme temperature conditions across various applications.

Sustainability Initiatives:

• Expansion of synthetic lubricant production capacity

• Focus on lubricants compatible with low-GWP refrigerants

Download FREE Sample Report: Frozen Oil Market – View in Detailed Research Report

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6️⃣ 5. FUCHS Petrolub SE

Headquarters: Mannheim, Germany
Key Offering: Reniso Triton Series, Synthetic Refrigeration Oils

FUCHS Petrolub specializes in high-performance lubricants for refrigeration and air conditioning systems. The company offers both mineral oil-based and synthetic formulations tailored to specific compressor technologies.

Sustainability Initiatives:

• Development of biodegradable refrigeration lubricants

• Global manufacturing footprint supporting regional market needs

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5️⃣ 6. Idemitsu Kosan Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Daphne Hermetic Oil, Refrigeration Compressor Oils

Idemitsu Kosan is a major Japanese supplier of refrigeration oils with strong presence across Asia-Pacific markets. The company develops advanced synthetic lubricants for next-generation low-GWP refrigerants.

Sustainability Initiatives:

• Focus on lubricants for CO2 refrigeration systems

• R&D in lubricant-refrigerant miscibility for improved system efficiency

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4️⃣ 7. PETRONAS Lubricants International

Headquarters: Kuala Lumpur, Malaysia
Key Offering: Syntesso FR Series, Food Grade Frozen Oils

PETRONAS offers specialized frozen oils certified for food-grade applications, ensuring compliance with stringent international food safety standards including NSF H1 registration.

Sustainability Initiatives:

• Development of HFC-free refrigeration lubricants

• Expansion of synthetic lubricant portfolio for industrial refrigeration

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3️⃣ 8. China National Petroleum Corporation (CNPC)

Headquarters: Beijing, China
Key Offering: Kunlun Refrigeration Oils, Industrial Frozen Lubricants

CNPC is China’s largest integrated energy company with significant production capacity for refrigeration oils serving both domestic and international markets.

Sustainability Initiatives:

• Investment in synthetic lubricant manufacturing facilities

• Development of cost-effective frozen oil solutions for emerging markets

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2️⃣ 9. Chevron Corporation

Headquarters: San Ramon, California, USA
Key Offering: Chevron Freeze Guard Series, Industrial Refrigeration Oils

Chevron produces a range of refrigeration compressor oils under its established industrial lubricants division. The company focuses on developing lubricants with excellent thermal stability for low-temperature applications.

Sustainability Initiatives:

• Renewable lubricant research and development

• Partnerships with refrigeration equipment manufacturers for optimized system performance.

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1️⃣ 10. BP PLC

Headquarters: London, United Kingdom
Key Offering: BP Energol ICE Series, Synthetic Refrigeration Lubricants

BP offers specialized frozen oils designed for harsh operating conditions in industrial refrigeration systems. The company maintains technical service teams that support customers with lubricant selection and system optimization.

Sustainability Initiatives:

• Development of energy-efficient refrigeration lubricants

• Global distribution network supporting refrigeration service providers

Get Full Report Here: Frozen Oil Market – View in Detailed Research Report

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🌍 Outlook: The Future of Frozen Oil Is Smarter and More Sustainable

The frozen oil market is undergoing a significant transformation as environmental regulations tighten and energy efficiency becomes paramount. While traditional mineral oils still serve established systems, the industry is rapidly transitioning toward advanced synthetic formulations that are compatible with next-generation refrigerants and offer superior performance in extreme conditions.

📈 Key Trends Shaping the Market:

• Rising demand for synthetic frozen oils compatible with low-GWP refrigerants

• Regulatory push for natural refrigerants like CO2, ammonia, and hydrocarbons

• Digital monitoring of lubricant performance in refrigeration systems

• Growth in cold chain infrastructure supporting global food and pharmaceutical distribution

Get Full Report Here: Frozen Oil Market – View in Detailed Research Report

The companies listed above are not only supplying critical lubrication solutions—they’re enabling the digitalization and decarbonization of global cooling systems.