Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Refrigerant Market, By Type; By Application - Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global refrigerant market plays a pivotal role in climate control across various sectors. In 2022, the market value was US$ 20,331.7 Mn with a market volume of 2,280.3 Kilo Tons. Based on current growth trends, the market value is projected to reach US$ 34,791.8 Mn by 2030, with a Value Compound Annual Growth Rate (CAGR) of 7.30%. Volume growth is expected at a CAGR of 7.99% during the same period.
Growth Influencers:
The robust expansion of the Cold Chain Market, driven by increasing demand for temperature-controlled storage and transportation facilities for perishable goods, is a key driver for the global refrigerant market's growth. However, strict regulations against the use of fluorocarbon refrigerants due to environmental concerns pose a restraint. Industries are urged to seek more eco-friendly alternatives due to these regulations.
Segment Overview:
The refrigerant market is segmented by type, application, and sales channel.
By Type:
- HCFCs
- HFCs
- HFOs
- Isobutane
- Propane
- Ammonia
- Carbon Dioxide
- Others
Ammonia holds a growth opportunity of more than US$ 4,250 Mn for 2022-2030.
By Application:
- Refrigeration (Domestic, Commercial, Industrial)
- Chillers
- Air conditioning systems (Window, Split Acs, VRF)
- Heat Pumps
- Others (Packaged Terminal, Packaged Rooftop)
Refrigeration holds more than 35% of the market share in 2022. The Air conditioning systems segment is expected to surpass US$ 8,600 Mn by 2028.
By Sales Channel:
- Domestic Household Refrigeration
- Light Commercial Refrigeration
- Commercial Racks and Condensing Units
- Industrial Refrigeration
Commercial Racks and Condensing Units hold the largest market share, accounting for close to 40% in 2022.
Regional Overview:
Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America held the largest market share of over 35% in 2022 and is projected to expand at the fastest CAGR of over 7.5%.
Report Insight:
- Comprehensive market analysis focusing on key growth influencers
- Detailed segmentation overview with significant data points
- In-depth regional overview considering market share and growth rate
- Extensive profiling of major market players and their strategies
Key Questions:
- What are the growth prospects of the global refrigerant market from 2023-2030?
- What are the key market segments and their characteristics?
- How does the regulatory landscape influence the market?
- Who are the major players in the market and what strategic initiatives do they undertake?
Selected Companies Mentioned in the Report:
- AGC Inc.
- Air Liquide
- Arkema S.A.
- Asahi Glass Corporation
- Changshu Sanaifu Zhonghao Chemical New Material Co., Ltd.
- Daikin Industries Ltd.
- Dongyue Group Co. Ltd.
- Gas Servei
- Honeywell International, Inc.
- Mexichem S.A.B. de C.V.
- Shandong Yue'an Chemical Co., Ltd
- SINOCHEM GROUP CO., LTD.
- SRF Limited
- Tazzetti S.p.A.
- The Chemours Company
- The Linde Group
- Zhejiang Fotech International Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5r32pc
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