Global Refrigerant market is expected to witness significant growth over the next seven years owing to increasing cooling equipment and refrigerators production.
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Latest Report on Global Refrigerant Market, is expected to witness significant growth over the next seven years owing to increasing cooling equipment and refrigerators production By Type, Application, Geography – Industry Trends and Forecast to 2024
The global refrigerant market accounted for USD 14.9billion in 2016 and is projected to grow at a CAGR of 4.6% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Refrigerant is a compound that absorbs heat from the environment and provides refrigeration or air conditioning using the combination components such as compressors and evaporators. Three major forms of refrigerants include fluorocarbons, inorganics and hydrocarbons.
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Refrigerants are majorly used in refrigerators, chillers, air conditioners and heat pumps.
Major Market Drivers:
- Increasing demand for consumer appliances
- Growing cold chain industry
- Technological advancements in the refrigeration market
- Flammability and toxicity issues
- Stringent regulations regarding gas emissions
Some of the major players in the refrigerant market include Arkema SA, Dongyue Group Co. Ltd., Honeywell International Inc., The Chemours Company, The Linde Group, Daikin Industries Limited, Mexichem S.A.B.
De C.V., Sinochem Corporation, Asahi Glass Co., Ltd. (AGC), SRF Limited, Air Liquide (Airgas Refrigerants Inc.) Gujarat Fluorochemicals Ltd., Navin Fluorine International Ltd, A-Gas International, Oz-Chill Refrigerants, PuyangZhongwei Fine Chemical, Shandong Yuean Chemical, Harp International, Quimobasico, Zhejiang Juhua Co Ltd, Tazzetti SPA, Gas Servei S.A., Zhejiang Fotech International Co Ltd, Refrigerant Solutions, Changsu 3f Fluorochemical Industry Co Ltd and many more.
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Global Refrigerant Market Segmentation:
On the basis of type, the market is segmented into
On the basis of application, the market is segmented into
- large-scale refrigerators
- air conditioners
- heat pumps
On the basis of geography, the refrigerant market report covers data points for 28 countries across multiple geographies such as
- North America
- South America
- Middle East & Africa
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