The Global Refrigeration Cycle Compressor Lubricating Oil Market was valued at USD 1.02 Billion in 2024 and is projected to reach USD 1.65 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period (2024–2032). This significant growth is fueled by rising demand for energy-efficient refrigeration, the global transition to low-GWP (Global Warming Potential) refrigerants, and expanding cold chain infrastructure in emerging economies. As the industry pivots toward sustainability and enhanced performance, the focus intensifies on the key lubricant manufacturers and suppliers who ensure the reliability and efficiency of cooling systems worldwide. In this blog, we profile the Top 10 Companies in the Refrigeration Cycle Compressor Lubricant Industry—a mix of energy giants, specialty chemical producers, and innovative lubricant specialists shaping the future of thermal management.

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🔟 1. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Mobil Gargoyle Arctic Series, Mobil Ultra™ Refrigeration Oils

ExxonMobil is a global leader in lubricant technology, offering a comprehensive portfolio of synthetic and mineral-based refrigeration oils. Their products are engineered for compatibility with a wide range of refrigerants, including HFCs, HFOs, and natural options like ammonia and CO₂. The company serves residential, commercial, and industrial refrigeration segments globally, with a strong emphasis on extending compressor life and improving energy efficiency.

Innovation & Sustainability Initiatives:

• Development of high-performance Polyolester (POE) oils for next-generation low-GWP refrigerants
• Focus on lubricants that reduce energy consumption and system wear
• Commitment to circular economy principles through advanced recycling and sustainable sourcing

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9️⃣ 2. Shell plc

Headquarters: London, United Kingdom
Key Offering: Shell Clavus G & S Series, Corena® Refrigeration Oils

Shell is a dominant force in the global lubricants market, with its Corena and Clavus brands being trusted by OEMs and service providers worldwide. The company provides specialized oils for various compressor types, including reciprocating, scroll, screw, and centrifugal. Shell’s R&D focuses on enhancing thermal stability and hydrolytic stability, which are critical for maintaining performance in demanding refrigeration cycles.

Innovation & Sustainability Initiatives:

• Investment in synthetic lubricants for improved compatibility with R-454B, R-32, and other modern refrigerants
• Global supply chain optimization to ensure product availability and technical support
• Partnerships with compressor manufacturers to develop co-engineered lubrication solutions

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8️⃣ 3. Chevron Corporation

Headquarters: San Ramon, California, USA
Key Offering: Chevron ICEMATIC® POE & AB Oils

Chevron’s lubrication division is renowned for its ICEMATIC brand, which includes a range of alkylbenzene (AB) and polyolester (POE) oils. These products are formulated to deliver excellent lubricity and oxidative stability, helping to maximize the efficiency and lifespan of refrigeration compressors. Chevron serves diverse markets, from food processing and cold storage to HVAC and industrial process cooling.

Innovation & Sustainability Initiatives:

• Advanced formulations to prevent acid buildup and oil breakdown in high-temperature operations
• Focus on oils that minimize environmental impact while meeting stringent performance standards
• Expansion of technical services to support proper lubricant selection and maintenance practices

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7️⃣ 4. TotalEnergies

Headquarters: Paris, France
Key Offering: Zerice® Refrigeration Oils, CARRELEC® Synthetic Oils

TotalEnergies is a key player in Europe and globally, offering high-performance lubricants under its Zerice and CARRELEC brands. The company’s products are designed for use with both synthetic and natural refrigerants, providing excellent solubility and film strength. TotalEnergies has a strong presence in the commercial refrigeration and air conditioning sectors, supported by extensive R&D capabilities.

Innovation & Sustainability Initiatives:

• Development of ester-based oils for ammonia and CO₂ refrigeration systems
• Emphasis on lubricants that contribute to overall system energy efficiency
• Active participation in industry consortia to shape standards for sustainable refrigeration

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Global Refrigeration Cycle Compressor Lubricating Oil Market – View in Detailed Research Report

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6️⃣ 5. FUCHS PETROLUB SE

Headquarters: Mannheim, Germany
Key Offering: PLANETELF® Refrigeration Oils, RENISO® Specialty Oils

FUCHS is a global specialist in lubricants, with a robust portfolio for refrigeration applications. The company’s PLANETELF and RENISO brands are recognized for their high purity and reliability in critical cooling systems. FUCHS excels in providing tailored solutions for specific compressor technologies and operating conditions, from low-temperature freezers to large industrial chillers.

Innovation & Sustainability Initiatives:

• Pioneering biodegradable refrigeration oils for environmentally sensitive applications
• Extensive product range covering PAG, POE, and AB oils for all major refrigerant types
• Global production network ensuring consistent quality and rapid delivery

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5️⃣ 6. Idemitsu Kosan Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Idemitsu Refrigeration Oils, Polyolester (POE) Lubricants

Idemitsu Kosan is a leading Japanese energy company with a strong focus on high-quality lubricants. Its refrigeration oils are widely used in Asia-Pacific and beyond, particularly in automotive air conditioning and residential cooling systems. The company is known for its technological expertise in synthetic lubricants and its close collaboration with Asian compressor manufacturers.

Innovation & Sustainability Initiatives:

• Development of low-viscosity oils for energy-efficient inverter compressors
• Strong emphasis on product quality and consistency for reliable long-term performance
• Expansion of distribution channels to serve growing markets in Southeast Asia and India

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4️⃣ 7. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Plurasafe® Refrigeration Oils, Synthetic Base Stocks

BASF, primarily known as a chemical giant, is a critical supplier of high-performance base stocks and formulated lubricants for the refrigeration industry. The company’s Plurasafe brand includes advanced polyolester oils that offer excellent stability and compatibility with modern refrigerants. BASF’s strong R&D capabilities enable it to develop custom solutions for specific OEM requirements.

Innovation & Sustainability Initiatives:

• Innovation in synthetic chemistry to create next-generation refrigeration lubricants
• Focus on lubricants with low toxicity and high biodegradability profiles
• Collaboration with refrigerant producers to ensure optimal system compatibility

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3️⃣ 8. China Petroleum & Chemical Corporation (Sinopec)

Headquarters: Beijing, China
Key Offering: Great Wall Refrigeration Oils, Mineral and Synthetic Grades

Sinopec is China’s largest lubricant producer and a major player in the global refrigeration oil market. The company offers a wide range of products under its Great Wall brand, catering to both domestic and international customers. Sinopec’s competitive pricing and extensive distribution network make it a key supplier in price-sensitive markets, particularly in Asia and Africa.

Innovation & Sustainability Initiatives:

• Investment in synthetic lubricant production to meet evolving regulatory requirements
• Expansion of product portfolio to include oils for natural refrigerants
• Focus on serving the massive Chinese domestic market while expanding global footprint

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2️⃣ 9. Petroliam Nasional Berhad (PETRONAS)

Headquarters: Kuala Lumpur, Malaysia
Key Offering: PETRONAS Refrigeration Oils, Synthetic and Mineral Formulations

PETRONAS has established itself as a significant global lubricant supplier, with a growing presence in the refrigeration sector. The company’s refrigeration oils are known for their quality and reliability, serving markets across Asia, the Middle East, and Africa. PETRONAS leverages its strong base oil production capabilities to offer competitive and technically advanced lubricant solutions.

Innovation & Sustainability Initiatives:

• Development of lubricants optimized for tropical climates and high-ambient conditions
• Strategic focus on emerging markets with rapidly expanding refrigeration infrastructure
• Commitment to sustainable practices across the lubricant value chain

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1️⃣ 10. The Lubrizol Corporation

Headquarters: Wickliffe, Ohio, USA
Key Offering: Specialty Additives and Base Stocks for Refrigeration Oils

Lubrizol is a premier specialty chemical company that plays a crucial role in the refrigeration lubricant market by supplying advanced additives and synthetic base stocks. While not a finished lubricant brand, Lubrizol’s technologies are essential components in high-performance refrigeration oils produced by major lubricant companies. The company’s innovations enhance lubricant stability, compatibility, and overall system performance.

Innovation & Sustainability Initiatives:

• Development of additive packages that improve lubricant-refrigerant interaction
• Research into novel chemistries for next-generation low-GWP refrigerant systems
• Collaboration with lubricant manufacturers to solve complex technical challenges

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Global Refrigeration Cycle Compressor Lubricating Oil Market – View in Detailed Research Report

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🌡️ Outlook: The Future of Refrigeration Lubricants Is Smarter and More Sustainable

The refrigeration cycle compressor lubricating oil market is undergoing a significant transformation. While mineral oils still hold substantial market share, the industry is rapidly shifting toward synthetic alternatives that offer superior performance, compatibility with new refrigerants, and enhanced sustainability profiles.

📈 Key Trends Shaping the Market:

• Accelerated adoption of synthetic oils (POE, PAG) for compatibility with R-32, R-454B, and other low-GWP refrigerants
• Increasing regulatory pressure globally to phase down high-GWP refrigerants, driving lubricant innovation
• Integration of IoT and smart monitoring technologies for predictive maintenance and optimized lubricant performance
• Growing emphasis on circular economy principles, including lubricant recyclability and biodegradable formulations

Get Full Report Here:
Global Refrigeration Cycle Compressor Lubricating Oil Market – View in Detailed Research Report

The companies profiled above are not only supporting global cooling needs—they’re driving the efficiency and sustainability transformation of refrigeration systems worldwide.