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 (2025–2032). This growth is fueled by rising demand for energy-efficient refrigeration, the global phase-out of ozone-depleting refrigerants, and rapid industrialization in emerging economies requiring robust cold chain infrastructure.

As industries worldwide prioritize energy efficiency and environmental sustainability, the specialized lubricants that ensure the smooth operation of refrigeration compressors have become critical. In this blog, we profile the Top 10 Companies in the Refrigeration Cycle Compressor Lubricating Oil Industry—a mix of global energy giants, specialty chemical producers, and innovators developing next-generation synthetic formulations.

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🔟 1. ExxonMobil Corporation

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

ExxonMobil is a global leader in lubricant technology, offering a comprehensive portfolio of synthetic and mineral-based oils for refrigeration compressors. Their products are engineered for high thermal stability, excellent lubricity, and compatibility with a wide range of modern refrigerants, including HFOs and natural options like CO₂ and ammonia.

Sustainability Initiatives:

• Development of low-global-warming-potential (GWP) synthetic oils
• Investment in advanced formulations for energy-efficient compressor systems
• Commitment to reducing the environmental footprint of industrial operations

Download FREE Sample Report: Global Refrigeration Cycle Compressor Lubricating Oil Market – View in Detailed Research Report

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9️⃣ 2. Shell plc

Headquarters: London, United Kingdom
Key Offering: Shell Clavus Oil Series, Synthetic Refrigeration Oils

Shell’s Clavus range of refrigeration oils is recognized globally for its reliability and performance. The company provides solutions for various applications, from domestic refrigerators to large industrial chillers, with a strong emphasis on products that enhance system efficiency and reduce energy consumption.

Sustainability Initiatives:

• Focus on oils compatible with low-GWP refrigerants to support the energy transition
• Partnerships with OEMs to develop next-generation lubrication solutions

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8️⃣ 3. Chevron Corporation

Headquarters: San Ramon, California, USA
Key Offering: Chevron ICEMATIC SW Series, Refrigeration Compressor Oils

Chevron offers high-performance lubricants designed for the demanding conditions of refrigeration systems. Their oils are formulated to prevent waxing, provide excellent water separation, and ensure compatibility with both traditional and new refrigerant blends, helping to extend equipment life.

Sustainability Initiatives:

• Development of environmentally acceptable lubricants (EALs)
• Active participation in industry consortia for refrigerant transition guidance

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7️⃣ 4. TotalEnergies

Headquarters: Paris, France
Key Offering: Total Zerice RT Series, Synthetic Refrigeration Oils

TotalEnergies is a key player in Europe and globally, providing high-quality lubricants for refrigeration applications. Their Zerice range includes synthetic oils specifically designed for use with HFC and HFO refrigerants, offering excellent stability and material compatibility.

Sustainability Initiatives:

• Investment in R&D for biodegradable lubricant options
• Commitment to carbon neutrality across its operations by 2050

Download FREE Sample Report: Global Refrigeration Cycle Compressor Lubricating Oil Market – View in Detailed Research Report

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6️⃣ 5. Idemitsu Kosan Co., Ltd.

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

Idemitsu Kosan is a major lubricant supplier in the Asia-Pacific region, renowned for its advanced synthetic refrigeration oils. The company specializes in polyolester (POE) oils that offer superior miscibility with modern refrigerants, making them a preferred choice for new, energy-efficient systems.

Sustainability Initiatives:

• Leading provider of POE oils supporting the HFC phase-down
• Focus on developing solutions for natural refrigerant applications

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5️⃣ 6. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Plurasol® Series, Polyalkylene Glycol (PAG) Oils

BASF, a world-leading chemical company, produces high-performance Plurasol® PAG oils for refrigeration and air conditioning systems. These synthetic lubricants are known for their excellent lubricity, thermal stability, and compatibility with a wide range of refrigerants, including CO₂ (R744).

Sustainability Initiatives:

• Innovation in lubricants for natural and low-GWP refrigerant systems
• Integration of sustainability criteria into product development lifecycle

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4️⃣ 7. Fuchs Petrolub SE

Headquarters: Mannheim, Germany
Key Offering: Fuchs Reniso Series, Refrigeration Compressor Oils

Fuchs is a global specialist in lubricants, offering the comprehensive Reniso product line for refrigeration applications. Their oils are designed for use with all common synthetic and natural refrigerants, providing reliable performance in extreme temperature conditions.

Sustainability Initiatives:

• Development of long-life oils to reduce waste and consumption
• Focus on products that contribute to overall system energy efficiency

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3️⃣ 8. Petroliam Nasional Berhad (Petronas)

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

Petronas is a leading energy group with a strong presence in the Asian lubricants market. The company offers a range of refrigeration compressor oils that meet the stringent requirements of modern HVAC-R systems, with a focus on thermal and oxidative stability.

Sustainability Initiatives:

• Investment in R&D for greener lubricant technologies
• Expansion of product portfolio to support Southeast Asia’s growing cold chain

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2️⃣ 9. China Petrochemical Corporation (Sinopec Group)

Headquarters: Beijing, China
Key Offering: Sinopec Great Wall Refrigeration Oils

As one of the largest petroleum and chemical enterprises globally, Sinopec plays a crucial role in supplying the Chinese market with essential refrigeration lubricants. The company’s products support the massive domestic manufacturing of refrigeration and air conditioning equipment.

Sustainability Initiatives:

• Development of lubricants for new energy-efficient Chinese refrigeration standards
• Large-scale production to meet domestic and export demand sustainably

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1️⃣ 10. The Lubrizol Corporation

Headquarters: Wickliffe, Ohio, USA
Key Offering: Lubrizol Refrigeration Lubricant Additives, Formulated Oils

Lubrizol is a premier supplier of chemical additives that enhance the performance of refrigeration compressor oils. While not always a finished lubricant marketer, its technology is critical to the formulations used by many oil companies, improving properties like viscosity index and anti-wear performance.

Sustainability Initiatives:

• Innovation in additive chemistry for low-GWP refrigerant compatibility
• Collaboration with lubricant manufacturers to improve product environmental profiles

Get Full Report Here: 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 Greener

The refrigeration cycle compressor lubricating oil market is undergoing a significant transformation. While mineral oils still hold a substantial share, the industry is rapidly shifting towards synthetic alternatives that offer superior performance, longer life, and better compatibility with environmentally friendly refrigerants.

📈 Key Trends Shaping the Market:

• Accelerated adoption of synthetic oils (POE, PAG) for HFO and natural refrigerant systems
• Regulatory pressures driving the phase-out of high-GWP refrigerants and compatible lubricants
• Integration of IoT and smart sensors for predictive maintenance and oil condition monitoring
• Growing demand from emerging economies modernizing their cold chain infrastructure

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

The companies listed above are not only supplying essential lubricants for global cooling—they’re driving the efficiency and sustainability of refrigeration systems worldwide.