Rising demand for consumer appliances and pharmaceuticals must fuel growth

0

DUBLIN, July 13, 2022 /PRNewswire/ — The “Global Refrigerants Market by Type (HFCs and Blends, HFO, Isobutane, Propane), Application (Refrigeration System, Air Conditioning System, Chillers, MAC) and Region (APAC, North America, EuropeMEA, South America) – “Forecast to 2027” report added to from ResearchAndMarkets.com offer.

The refrigerant market is expected to reach $8.4 billion in 2027 at a CAGR of 6.2% over the forecast period. The most commonly used natural refrigerants are ammonia, carbon dioxide and HCs such as propane and isobutene.

Technological advancements in cooling equipment are replacing traditional refrigerants such as HCFC and HFC with natural refrigerants. This has increased the market share of natural refrigerants in applications such as air conditioning, refrigeration and heating systems.

By type, carbon dioxide accounted for the second largest market share for the refrigerants market, in terms of volume, in 2021

Carbon dioxide is gaining popularity as a refrigerant because it is flammable and non-toxic. Due to these characteristics, it is now widely used as a refrigerant for commercial spaces such as supermarkets and retail stores. However, it remains a danger to human health. As it is an odorless gas and heavier than air, it can cause a narcotic and asphyxiating effect at high concentrations in closed environments. Therefore, leak detectors must be present to avoid any potential risk.

Air conditioning system is expected to be the second fastest growing application for the refrigerant market over the forecast period, in terms of value

Air conditioners are used to cool individual or multiple rooms in residential or commercial areas. This application segment is further segmented into window air conditioner, split air conditioner, variable refrigerant flow, and ducted, packaged, and rooftop air conditioners based on application and capacity. R-407C, HCFC-22 and R-410A are the most commonly used refrigerants in these applications.

Based on the region, Asia Pacific the region was the largest refrigerant market in 2021, in terms of volume

Asia Pacific dominates the refrigerants market due to rapid economic growth, especially in the consumer goods and automotive sectors in the region. The rapid urbanization of Asia Pacific, coupled with improved living standards, is driving the market. Emerging economies, including China, Japanand Indiaare the main refrigerant markets in the region.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews
4.1 Rising Application Areas Provide Growth Opportunities for Refrigerant Market
4.2 Asia Pacific to be the fastest growing refrigerant market over the forecast period
4.3 HFC blends and China accounted for dominant market share of Asia-Pacific refrigerants market in 2021
4.4 Refrigeration System was the Largest Application Segment in Most Regions
4.5 India to be the fastest growing market for refrigerants over the forecast period

5 Market Overview
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in Demand for Consumer Devices
5.2.1.2 Growth of the pharmaceutical industry
5.2.2 Constraints
5.2.2.1 Strict regulations against fluorocarbon refrigerants
5.2.2.2 Flammability and toxicity issues
5.2.3 Opportunities
5.2.3.1 Increase in demand for natural refrigerants
5.2.4 Challenges
5.2.4.1 Illegal trade in refrigerants
5.3 Porter’s five forces
5.4 Key Players and Purchase Criteria
5.4.1 Main players in the purchasing process
5.4.2 Purchase criteria
5.5 Macroeconomic indicators
5.5.1 GDP Trends and Forecasts for Major Economies

6 industry trends
6.1 Supply Chain Analysis
6.2 Refrigerant Market: Realistic, Pessimistic, Optimistic and Non-COVID-19 Scenarios
6.2.1 Non-COVID-19 scenario
6.2.2 Optimistic scenario
6.2.3 Pessimistic scenario
6.2.4 Realistic scenario
6.3 Price Analysis
6.4 Trends/disruptions affecting customer business
6.4.1 Revenue Changes and Revenue Pockets for Refrigerant Market
6.5 Connected markets: ecosystem
6.6 Technology Analysis
6.6.1 Non-Kind Cooling Technology
6.6.2 Magnetic refrigeration
6.7 Analysis of case studies
6.7.1 Honeywell International Inc. Case Study
6.8 Trade data statistics
6.8.1 Refrigerant Import Scenario
6.8.2 Refrigerant Export Scenario
6.9 Regulatory landscape
6.10 Key Conferences and Events in 2022-2023
6.11 Patent Analysis
6.11.1 Approach
6.11.2 Type of documents
6.11.3 Jurisdictional analysis
6.11.4 Main candidates

7 Refrigerant Market, by Type
7.1 Presentation
7.2 HFCs and blends
7.3 heavy fuel oil
7.4 Isobutane
7.5 Propane
7.6 Ammonia
7.7 Carbon dioxide
7.8 Others

8 Refrigerant Market, By Application
8.1 Presentation
8.2 Refrigeration system
8.3 Chillers
8.4 Air conditioning system
8.5 Mobile air conditioning (Mac)

9 Refrigerant Market, by Region

10 Competitive Landscape

Companies cited

  • A-Gas International
  • Air Liquide (Airgas Refrigerants Inc.)
  • Arkema S.A.
  • Asahi Glass Corporation
  • Brothers Gas Bottling & Distribution Co. LLC
  • Daikin Industries Ltd.
  • Dongyue Group Co., Ltd. (Dongyue)
  • Eco Freeze International
  • Engas Australasia
  • Gas Servei SA
  • Gujarat Fluorochemicals Ltd.
  • international harp
  • Honeywell International Inc.
  • Navin Fluor International Ltd.
  • Orbie
  • Puyang Zhongwei Fine Chemicals
  • Quimobasicos
  • Cooling Solutions Ltd.
  • Shandong Yuean Chemical Industry Co.Ltd
  • Sinochem Group
  • Srf Limited
  • Tazzeti Spa
  • The Chemours company
  • The Linde Group
  • Zhejiang Fotech International Co.Ltd.

For more information on this report visit https://www.researchandmarkets.com/r/eyg6zr

Media Contact:
Research and Markets
Laura Woodsenior
[email protected]

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900

US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets

Share.

About Author

Comments are closed.