Dublin, July 12, 2022 (GLOBE NEWSWIRE) -- The "Global Refrigerants Market by Type (HFC & Blends, HFO, Isobutane, Propane), Application (Refrigeration System, Air Conditioning System, Chillers, MAC) and Region (APAC, North America, Europe, MEA, South America) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
Refrigerants market is expected to reach at USD 8.4 billion in 2027 at a CAGR of 6.2% during the forecast period. The most 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 ones. 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 second-largest market share for refrigerants market, in terms of volume, in 2021
Carbon dioxide is gaining popularity as a refrigerant as it is inflammable and non-toxic. Because of these characteristics, it is now widely used as a refrigerant for commercial spaces such as supermarkets and retail stores. However, it has a remaining danger to human health. Since it is an odorless gas and heavier than air, it can cause a narcotic and asphyxiating effect at high concentrations in enclosed environments. Therefore, leak detectors should be present to avoid any potential risk.
Air conditioning system is expected to be the second-fastest growing application for refrigerants market during the forecast period, in terms of value
Air conditioners are used to cool single or multiple rooms in residential or commercial areas. This application segment is further segmented into window AC, split AC, variable refrigerant flow, and ducted, packaged, and rooftop ACs based on application and capacity. R-407C, HCFC-22, and R-410A are the most commonly used refrigerants in these applications.
Based on region, Asia Pacific region was the largest market for refrigerants in 2021, in terms of volume
Asia Pacific dominates the refrigerants market due to the rapid economic growth, particularly in the consumer goods and automobile industries in the region. The rapid urbanization in Asia Pacific, coupled with the improved living standards, is driving the market. The emerging economies, including China, Japan, and India, are the major refrigerants markets in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Increasing Application Areas Offer Growth Opportunities for Refrigerants Market
4.2 Asia-Pacific to be Fastest-Growing Refrigerants Market During 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 Largest Application Segment in Most Regions
4.5 India to be Fastest-Growing Market for Refrigerants During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Consumer Appliances
5.2.1.2 Growing Pharmaceuticals Industry
5.2.2 Restraints
5.2.2.1 Stringent Regulations Against Fluorocarbon Refrigerants
5.2.2.2 Flammability and Toxicity Issues
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Natural Refrigerants
5.2.4 Challenges
5.2.4.1 Illegal Trade of Refrigerants
5.3 Porter's Five Forces
5.4 Key Stakeholders & Buying Criteria
5.4.1 Key Stakeholders in Buying Process
5.4.2 Buying Criteria
5.5 Macroeconomic Indicators
5.5.1 GDP Trends and Forecast for Major Economies
6 Industry Trends
6.1 Supply Chain Analysis
6.2 Refrigerants 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 Pricing Analysis
6.4 Trends/Disruptions Impacting Customer's Business
6.4.1 Revenue Shifts & Revenue Pockets for Refrigerants Market
6.5 Connected Markets: Ecosystem
6.6 Technology Analysis
6.6.1 Not-In-Kind Cooling Technology
6.6.2 Magnetic Refrigeration
6.7 Case Study Analysis
6.7.1 Case Study on Honeywell International Inc.
6.8 Trade Data Statistics
6.8.1 Import Scenario of Refrigerants
6.8.2 Export Scenario of Refrigerants
6.9 Regulatory Landscape
6.10 Key Conferences & Events in 2022-2023
6.11 Patent Analysis
6.11.1 Approach
6.11.2 Document Type
6.11.3 Jurisdiction Analysis
6.11.4 Top Applicants
7 Refrigerants Market, by Type
7.1 Introduction
7.2 HFC & Blends
7.3 HFO
7.4 Isobutane
7.5 Propane
7.6 Ammonia
7.7 Carbon Dioxide
7.8 Others
8 Refrigerants Market, by Application
8.1 Introduction
8.2 Refrigeration System
8.3 Chillers
8.4 Air Conditioning System
8.5 Mobile Air Conditioning (Mac)
9 Refrigerants Market, by Region
10 Competitive Landscape
Companies Mentioned
- 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 S.A.
- Gujarat Fluorochemicals Ltd.
- Harp International
- Honeywell International Inc.
- Navin Fluorine International Ltd.
- Orbia
- Puyang Zhongwei Fine Chemicals
- Quimobasicos
- Refrigerant 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 about this report visit https://www.researchandmarkets.com/r/xieefm
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