Global Low GWP Refrigerants Market, By Type (Inorganics, Hydrocarbons, Fluorocarbons), By Applicati

Published Date: | Report Code : CH1958375

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Increasing demand for cooling and air conditioning is expected to drive the growth of low GWP refrigerants market during the forecast period. This has resulted some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.

The low potential for global warming (GWP) coolants have zero depletion of ozone and have important potential to decrease global warming. A coolant is an important fluid that absorbs heat at low temperature and low pressure, subsequently transfers heat at greater temperature and greater fluid pressure. Mostly available in kinds of hydrocarbons, fluorocarbons and inorganics.

Refrigerants are used in a wide range of applications such as ventilation, air conditioning, heating. However, most of the refrigerants used, such as hydrofluorocarbons (HFCs), chlorofluorocarbons (CFCs) and coolants, have significant potential for global warming (GWP). Growing emphasis on mitigating global warming and the need for sustainable development has encouraged low GWP refrigerants to be introduced and adopted. In addition, the phase-down of HFCs by the European Union, the United States and Canada has boosted the worldwide adoption of low GWP refrigerants. Carbon dioxide, ammonia, hydrofluoroolefins and hydrocarbons are some of the most prevalent low GWP refrigerants. Hydrocarbons are anticipated to see robust development among these low GWP refrigerants due to their outstanding thermodynamic properties, greater effectiveness and low noise compared to the respective HFC designs due to reduced cooling system stress. Growing concern over refrigerants ' adverse effect and global warming has caused the implementation of low GWP refrigerants. It was also noted that low GWP refrigerants also helped to achieve elevated concentrations of energy efficiency for refrigeration machinery.

Key Factors Impacting Market Growth:

  • Low impact on the environment of low GWP coolants

  • Increasing demand for cooling and air conditioning

  • Refrigerants from CFC, CFC and HFC

Regional Analysis:

On the basis of the region, the low GWP refrigerants market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe being some of major markets are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing number of transitions in terms of productions of chemicals and respective applications by end-use industries. The preference towards bio-based feedstock has been instrumental in the development of the green alternatives in these regions. Moreover, regulatory authorities have imposed strict guidelines with regards environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include US, Germany, UK, France, Canada, Italy, Spain, and so on.

Asia Pacific and Middle East are expected to register substantial growth in low GWP refrigerants market during the forecast period. This demand is with regards to the growth of major applications such as industrial refrigeration, commercial refrigeration, domestic refrigeration, mobile air-conditioning. Major countries in Asia Pacific region include China, South Korea, Japan, India, Australia, and So on. Middle East includes UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for low GWP refrigerants market. There has been increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for low GWP refrigerants market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered: Linde Group, Honeywell, Sinochem Group, Airgas Inc., Engas Australasia, A-Gas, Puyang Zhongwei Fine Chemical, Harp International, Tazzetti, Shandong Yueon Chemical Industry, HyChill Australia, GTS, Chemours, Mexichem, Daikin, and Arkema…

Market Segmentation:

By Type:

  • Inorganics

  • Hydrocarbons

  • Fluorocarbons

By Applications:

  • Industrial Refrigeration

  • Commercial Refrigeration

  • Domestic Refrigeration

  • Mobile Air-Conditioning

By Region:

  • North America

    • By Country (US, Canada, Mexico)

    • By Type

    • By Applications

  • Western Europe:

    • By Country (Germany, UK, France, Spain, Rest of Western Europe)

    • By Type

    • By Applications

  • Eastern Europe:

    • By Country (Russia, Turkey, Rest of Eastern Europe)

    • By Type

    • By Applications

  • Asia Pacific

    • By Country (China, Japan, India, Rest of Asia Pacific)

    • By Type

    • By Applications

  • Middle East:

    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)

    • By Type

    • By Applications

  • Rest of the World

    • By Region (Latin America, Brazil, Rest of the World)

    • By Type

    • By Applications

Reasons To Buy This Report:

  • Market size estimation of the low GWP refrigerants market on a regional and global basis

  • The unique research design for market size estimation and forecast

  • Profiling of major companies operating in the market with key developments

  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment

  • By Sub-segment

  • By Region/Country

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