Global Refrigerant Market, By Types (Fluorocarbons, Inorganics, Hydrocarbons), By Applications (Refr

Published Date: | Report Code : CH1958344


A Refrigerant is a chemical compound or mixture, usually, a fluid, used in a cycle of heat pumping and cooling. It undergoes phase transitions from a liquid to a gas in most cycles and then back again. Factors such as consumer electronic development, which in turn drives the refrigerant industry as consumer electronic appliances such as refrigerators, air conditioners, etc., involve refrigerants. In addition, the growing demand from the cold chain market and the growing need for energy-efficient equipment are anticipated to boost market growth over the next five years.

Based on the type, owing to its applications such as energy efficiency, reduced flammability, and reduced corrosive nature, the fluorocarbon refrigerant segment is anticipated to develop at a significant pace. The refrigerators segment is leading the market on the basis of apps owing to higher disposable incomes and middle-class spending power on equipment such as refrigeration units.

It is anticipated that the air conditioning sector will account for the biggest share of consumption, with a sub-application of mobile air conditioning anticipated to experience significant development. The main factor driving this segment is the increased demand for air conditioning in cars as a comfort function. The increasing building sector in APAC is ascribed to the enhanced usage of refrigerants in divided ACs. APAC countries ' building production is gradually increasing owing to the growing population and the increasing number of nuclear families.

Key Factors Impacting Market Growth:
    • Multiple consumer products industry
    • Increasing disposable income of consumers 
    • The growing market for the cold chain
    • Issues of inflammability and toxicity

Regional Analysis

On the basis of the region, the refrigerant market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe are some of the major markets that 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 the 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 regard to 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 the US, Germany, UK, France, Canada, Italy, Spain, and so on.  The Asia Pacific and the Middle East are expected to register substantial growth in the refrigerant market during the forecast period. This demand is with regard to the growth of major end-use industries including Industrial, Marine, Automotive, Building & Construction, and others. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Middle East includes the 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 the refrigerant market. There has been an 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 the refrigerant market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered: The Chemours Company, Arkema S.A., Daikin Industries Ltd, Asahi Glass Co. Ltd., Airgas Inc., Honeywell International Inc., SRF Ltd., Mexichem S.A.B. de C.V., The Linde Group, and Sinochem Group…

Market Segmentation:
By Types:
    • Fluorocarbons
        ◦ HCFCS
        ◦ HFCS
        ◦ HFOS
    • Inorganics
        ◦ Ammonia
        ◦ CO2
        ◦ Others
    • Hydrocarbons
        ◦ Isobutene
        ◦ Propane
        ◦ Others

By Applications:
    • Refrigerators
        ◦ Domestic
        ◦ Transport
        ◦ Commercial
    • Large-Scale Refrigerators
        ◦ Supermarket/Hypermarket
        ◦ Industrial
    • Chillers
        ◦ Displacement Chillers
        ◦ Centrifugal Chillers
    • Air Conditioners
        ◦ Portable
        ◦ Single Split
        ◦ Multi-Split
        ◦ Mobile Air Conditioners
    • Heat Pumps

By Region:
    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By Types
        ◦ By Applications
    • Western Europe:
        ◦ By Country (Germany, UK, France, Spain, Rest of Western Europe)
        ◦ By Types
        ◦ By Applications
    • Eastern Europe:
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe)
        ◦ By Types
        ◦ By Applications
    • Asia Pacific
        ◦ By Country (China, Japan, India, Rest of Asia Pacific)
        ◦ By Types
        ◦ By Applications
    • Middle East:
        ◦ By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
        ◦ By Types
        ◦ By Applications
    • Rest of the World
        ◦ By Region (South America, Africa)
        ◦ By Types
        ◦ By Applications

Reasons To Buy This Report:
    • Market size estimation of the refrigerant 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

We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country
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