China Refrigeration Lubricants Market Size, Share, and COVID-19 Impact Analysis, By Base Oil (Mineral Oils and Synthetic Oils), By Application (Refrigerators and Freezers, and Air Conditioners), and China Refrigeration Lubricants Market Insights, Industry Trend, Forecasts to 2035

China Refrigeration Lubricants Market Insights Forecasts to 2035

• The China Refrigeration Lubricants Market Size Was Estimated at USD 699.2 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 4.31% from 2025 to 2035
• The China Refrigeration Lubricants Market Size is Expected to Reach USD 1112.2 Million by 2035

According to a research report published by Spherical Insights & Consulting, The China Refrigeration Lubricants Market Size Is Anticipated To Reach USD 1112.2 Million By 2035, Growing At A CAGR Of 4.31% From 2025 To 2035. The China refrigeration lubricants market is growing due to the growing HVACR industry and energy-efficient new-generation lubricants, rising demand for cryogenic applications, and advances in lubricant technology present opportunities, with air-conditioning expected to lead the market.

Market Overview

The China refrigeration lubricants market comprises companies engaged in manufacturing, supplying, and selling lubricating oils formulated for use in refrigeration and air-conditioning systems across China. The China refrigeration lubricants market is used to support compressor operation in air-conditioning and refrigeration systems. They minimize friction and wear, provide sealing, aid heat transfer, and help maintain system performance. The China refrigeration lubricants market is boosted by the growing HVACR industry and energy-efficient new-generation lubricants, rising demand for cryogenic applications, and advances in lubricant technology present opportunities, with air-conditioning expected to lead the market.

Report Coverage

This research report categorizes the market for the China refrigeration lubricants market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the China refrigeration lubricants market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the China refrigeration lubricants market.

 Driving Factors

The China refrigeration lubricants market is primarily driven by the rapid growth of the country’s HVACR industry and the development of new generation lubricants that enhance energy efficiency, increasing demand for cryogenic applications, rising demand for consumer appliances, rising demand for high quality and low quality viscosity refrigerant fluids and refrigerant compressor oils, expansion of cold chain infrastructure, and advancements in lubricant technology are expected to create significant opportunities. Among applications, the air-conditioning segment is projected to expand at a strong pace in the coming years, and refrigeration systems.

Restraining Factors

The refrigeration lubricants market in China is mostly constrained by the regulatory amendments is anticipated to hinder the growth of the market studied, high raw material and production cost, price sensitivity in the end-use market, compatibility challenges with new refrigerants, and competition from substitutes.

Market Segmentation

The China refrigeration lubricants market share is classified into base oil and application.

• The synthetic oils segment dominated the share in 2024 and is expected to grow at a significant CAGR during the forecast period. 

The China refrigeration lubricants market is segmented by base oil into mineral oils and synthetic oils. Among these, the synthetic oils segment dominated the share in 2024 and is expected to grow at a significant CAGR during the forecast period. Synthetic oils, particularly PAO and POE, dominated the refrigeration lubricants market due to their superior performance compared to mineral oils. They offer high thermal stability, ensuring reliable operation across a wide range of temperatures, and low pour points, maintaining fluidity even in very cold conditions. Additionally, their compatibility with modern low-GWP refrigerants and longer service life make them the preferred choice for efficient and durable refrigeration and air-conditioning systems.

• The air conditioners accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. 

The China refrigeration lubricants market is segmented by application into refrigerators and freezers, and air conditioners. Among these, the air conditioners segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The air conditioners accounted largest share because of their high production value, rising demand for space cooling in commercial and residential buildings, and the critical role of lubricants in ensuring system efficacy, reliability, and compatibility with refrigerants.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the China refrigeration lubricants market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Sinopec (China Petroleum & Chemical Corporation)
• PetroChina Company Ltd
• Idemitsu Kosan co., ltd.
• PETRONAS Lubricants International
• FUCHS SE
• Lubrizol Corporation
• Shell PLC
• ExxonMobil Corporation
• BASF SE
• ENEOS Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments:

• In February 2026, FUCHS SE announced the debut of immersion cooling fluids for AI data centers in China, a specialized high-performance cooling technology.

• In June 2025, Shell PLC innovated DLC Fluid S3, a next-generation direct liquid cooling fluid for high-performance applications, supporting China’s growing cold-chain, industrial refrigeration, and HVAC sectors with high-performance, sustainable cooling solutions.

• In March 2025, Sinopec Lubricant Company deepened its strategic cooperation with FUCHS China to develop high-end, intelligent, and green lubrication solutions.

Market Segment

This study forecasts revenue at the China, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the China refrigeration lubricants market based on the below-mentioned segments

China Refrigeration Lubricants Market, By Base Oil

• Mineral Oils
• Synthetic Oils

China Refrigeration Lubricants Market, By Application

• Refrigerators and Freezers
• Air Conditioners