Refrigerant Market Growth, Trends, Size, Share, Demand, Industry Analysis, Key Player profile and Regional Outlook by 2023

Market Scenario:

Refrigerant is a substance used as a medium of heat transfer, which picks up the heat by evaporating at a low temperature and pressure. It gives up the heat on condensing at a higher temperature & pressure, and coverts back to the gas phase in the refrigeration cycle. Refrigerants are designated by R followed by a unique number.

Competitive Analysis:

Some of the Key Players in the Global Refrigerant Market are DAIKIN INDUSTRIES, Ltd. (Japan), The Chemours Company. (U.S.), Honeywell International Inc. (U.S.), Arkema S.A. (France), Dongyue Group Co. Ltd (China), Asahi Glass Co., Ltd. (Japan), Sinochem Group (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), SRF Limited (India), and DowDuPont Inc. (U.S.).

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Market Segmentation:

The Global Refrigerant Market is segmented by Type, Application and Region.

Based on the Type, the Global Refrigerant Market is segmented into natural refrigerants and synthetic Refrigerants. Natural refrigerants are further segmented into organic/hydrocarbons and inorganic Refrigerants. Hydrocarbons are further segmented into propane, n-butane, iso-butane, and others. Similarly, inorganic hydrocarbons are also sub-segmented into ammonia, CO2, water, and others. Synthetic refrigerants/fluorocarbons are segmented into two types namely pure fluorocarbons and fluorocarbon blends. Pure fluorocarbons are further segmented into chlorofluorocarbons (CFCs), hydrofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), hydrofluoro Olefins (HFO) and others. Similarly, fluorocarbon blends are also segmented into two type’s, i.e., azeotropic and zeotropic (non-azeotropic). HFC, HFO, HFC/HFO blends and natural refrigerants are expected to witness high growth during the forecast period, 2017-2023 due to their eco-friendly properties, low GWP, and low ODS potential compared to synthetic counterparts.

Based on the Application, the Global Refrigerant Market is segmented into refrigerators, air conditioners, chillers/heat pump, and others. Refrigerators are sub-segmented into domestic refrigerators, commercial refrigerators (medium scale), industrial & supermarket refrigerator (large scale), and transport refrigerator. Air conditioners (AC) are further segmented into centralized AC, split AC, window AC, portable AC, and hybrid AC.  Air conditioners are projected to be the largest market for refrigerants in the forecast period due to the rising disposable incomes; rising standard of living, rapid technological advancements, and upcoming infrastructure projects on transport networks, and commercial & residential projects in the emerging economies.

Regional Analysis:

The Global Refrigerant Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is the major region in the global market. The Middle East & Africa is expected to show rising demand over the forecast period. North America and Europe is expected to show steady demand, which is further trailed by Latin America. Rising disposable income, changing lifestyle, upcoming transportation, domestic & commercial projects in the emerging economies are primarily driving the demand for air conditioners and refrigerators. Therefore, it is positively impacting the Global Refrigerant Market. Furthermore, growing industrialization across the globe is expected to drive the demand for chillers/heat pump.

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Refrigerant Market Manufacturers, Countries, Type and Application, Forecast to 2023

Global Refrigerant Market Overview

A Refrigerant is referred to a heat carrier that changes phase from gas to liquid and back to gas during the Refrigeration cycle. In other words, it is a medium of heat transfer where it absorbs heat by evaporating at a low temperature and pressure and transfers it back upon condensation at a higher temperature and pressure. The Global Refrigerant Market is expected to observe an impressive CAGR during the forecast period. The report by Market Research Future (MRFR) has analyzed various factors that are impacting the functioning of the Global Refrigerant Market over the assessment period.

There are two types of Refrigerants, i.e., natural refrigerants and synthetic refrigerants. While natural refrigerants have lower levels of GWP, they are highly flammable and toxic in nature. On the other hand, synthetic refrigerants have higher GWP but are non-flammable and non-toxic in nature. Owing to the rising awareness towards environment-friendly adoptions, synthetic refrigerants have been banned, or their use has been limited due to their high Ozone Depletion Potential (ODP).

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Increasing disposable income and changing lifestyle of consumers across the globe are primary factors driving the Global Refrigerant Market during the forecast period. Further, an upscaling transport sector is likely to lead to ascension in demand for Refrigerants over the forecast period. Moreover, upcoming domestic and commercial projects are also leading to higher consumption of refrigerants, driving sizeable growth to the Global Refrigerants Market. Also, growing industrialization across the globe is likely to fuel growth in the Global Refrigerants Market.

Key Players:

The Global Refrigerant Market is highly impacted by several strategies undertaken by different market vendors in the market. Some of these distinguished players in the market include DAIKIN INDUSTRIES, Ltd. (Japan), Asahi Glass Co., Ltd. (Japan), The Chemours Company. (U.S.), Arkema S.A. (France), Honeywell International Inc. (U.S.), Dongyue Group Co. Ltd (China), SRF Limited (India), Mexichem S.A.B. de C.V. (Mexico), Sinochem Group (China), The Linde Group (Germany), and DowDuPont Inc. (U.S.).

Industry Update:

June 2019: The Chemours Company recently inaugurated the new Opteon production facility in Texas. The production facility is likely to triple the capacity of Opteon, a hydrofluoro olefin (HFO)-based refrigerant, which is used in millions of vehicles and thousands of retail stores across the globe.

Market Segmentation:

The Global Refrigerant Market Report by MRFR includes a detailed study of the different types and applications of Refrigerants. Different kinds of refrigerants studied in the report include natural refrigerants and synthetic refrigerants. There are different types of natural refrigerants, including organic/hydrocarbons and inorganic refrigerants. Different types of hydrocarbons include propane, iso-butane, and n-butane. Inorganic refrigerant types include CO2, ammonia, and water. Different types of synthetic refrigerants/fluorocarbons are pure fluorocarbons and fluorocarbon blends. Pure fluorocarbons come in different types viz chlorofluorocarbons (CFCs), hydrofluorocarbons (HFCs), hydrochlorofluorocarbons, and hydrofluoric olefins (HFO).

Different Applications of Refrigerants, as analyzed in the Market Research Future (MRFR) report include air conditioners, refrigerators, and chillers/heat pumps. Different types of refrigerators include domestic freezers, commercial refrigerators, transport refrigerator, and industrial & supermarket refrigerator. Air conditioners (AC) have different types of split AC, centralized AC, window AC, hybrid AC, and portable AC. Air conditioners are anticipated to demand the highest level of refrigerants during the forecast period. This can be attributed to a higher demand of refrigerators owing to a rising disposable income, rapid technological advancements, an upscaling standard of living, and upcoming infrastructural projects on transport networks, as well as, commercial and residential projects in developing countries.

Detailed Regional Analysis:

The Global Refrigerant Market has been studied for various regions such as Europe, North America, Latin America, Asia Pacific (APAC), and the Middle East & Africa (MEA). Among these, the APAC is expected to be the largest consumer of refrigerants in the global market. This can be owed to the high demand for refrigerators and air conditioners due to the rising disposable income and snowballing purchasing power of consumers. Further, rapid ingression of industrialization is expected to boost the demand for chiller/heat pumps over the review period.  The Middle East & Africa is likely to showcase a surge in demand over the assessment period. North America and Europe are anticipated to showcase steady growth, followed by Latin America.

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Refrigerant Market Size, Share, Growth Trend, Leading Players Updates, Future Plans, Business Prospects and Opportunity Assessment 2023

Overview:

The Refrigerant Market is accelerating at a rapid pace owing to the changes it is witnessing in the consumer behavior. Urbanization, across the globe, has become a trend. As more and more cities are coming into being, the impacts of it are becoming more visible. This has triggered a demand for cooling mechanisms such as refrigerators and air conditioners. At the same time, the cold chain sector is getting traction from various industries which can squarely influence the Refrigerant Market. The Refrigerant is a heat carrier, and in the refrigeration cycle, it runs in a loop between gas and liquid state. In the process, it controls temperature. The Global Refrigerant Market is expecting robust growth during the forecast period (2017-2023), reveals Market Research Future (MRFR). The detailed report also includes other factors such as an increase in disposable income, demand from the automobile sector, and domestic & commercial projects. These factors can impact the Refrigerant Market in the coming years considerably. The market is also witnessing significant growth for natural refrigerants owing to the diminishing use of fluorocarbon due to Montreal and Kyoto protocols. 

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Stringent regulations, however, can deter the Refrigerant Market growth during the forecast period. Global warming and depletion of the ozone layer can be considered the influencers for such imposing acts. However, the Refrigerant Market can reap the benefits of usage of hydrocarbon and other inorganic refrigerants. Eco-friendly options from various companies are providing enough opportunities to build a sustainable future. 

Segmentation: 

The Global Refrigerant Market can be segmented by Type and Application. 

Based on the Type, the Global Refrigerant Market can be segmented into natural refrigerants and synthetic refrigerants. The natural refrigerants include organic/hydrocarbons and inorganic refrigerants. Hydrocarbons are comprised of propane, n-butane, iso-butane, and others. Inorganic hydrocarbons can be sub-segmented into ammonia, CO2, water, and others. Synthetic refrigerants/fluorocarbons are segmented into two types, namely pure fluorocarbons and fluorocarbon blends. Pure fluorocarbons are further segmented into chlorofluorocarbons (CFCs), hydrofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), and hydrofluoro Olefins (HFO) and others. Fluorocarbon blends consist azeotropic and zeotropic (non-azeotropic). 

Application-Wise Segmentation of the Refrigerant Market can be segmented into refrigerators, air conditioners, chillers/heat pump, and others. Refrigerators segment is further segmented into domestic refrigerators, commercial refrigerators (medium scale), industrial & supermarket refrigerator (large scale), and transport refrigerator. Air conditioners (AC) are sub-segmented into centralized AC, split AC, window AC, portable AC, and hybrid AC. 

Regional Analysis: 

Geographic analysis of the Refrigerant Market includes Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA). 

The APAC region is doing exceptionally well in this sector. Emerging economies such as Indian and China are providing significant traction to the regional market. Rising disposable income and huge population are proving to be major factors. At the same time, the revamped industrial sector is showing growing demand for chiller/heat pump application. The MEA market is having growth in the Refrigerant Market due to ongoing construction & infrastructural activities that are expected to boost the tourism industry. North America and Europe markets are more mature than the rest, and steady growth can be expected during the forecast period. 

Competitive Analysis:

Prominent players operating in the Global Refrigerant Market are Honeywell International Inc. (U.S.), The Chemours Company. (U.S.), Asahi Glass Co., Ltd. (Japan), Arkema S.A. (France), DAIKIN INDUSTRIES, Ltd. (Japan), Dongyue Group Co. Ltd (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), Sinochem Group (China), SRF Limited (India), and DowDuPont Inc. (U.S.). The market banks mostly on the strategic moves taken by significant players for their individual growth which helps the refrigerant market in its holistic growth as well.

In December 2018, the Daikin Industries Ltd. finalized their agreement with Austria-based AHT Group with an aim to capitalize on environmental regulations. 

In November 2017, the SRF Limited made a pact with the global titan Mexichem to buy HFC 125, a hydrofluorocarbon refrigerant, to substantially grow in the air conditioning industry. 

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
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Refrigerant Market 2019 Size, Trends, Growth, Outlook and Forecast to 2023

Market Segmentation:

The Global Refrigerant Market is segmented by Type, Application and Region.

On the Basis of the Type, the Global Refrigerant Market is segmented into natural refrigerants and synthetic refrigerants. Natural refrigerants are further segmented into organic/hydrocarbons and inorganic refrigerants. Hydrocarbons are further segmented into propane, n-butane, iso-butane, and others. Similarly, inorganic hydrocarbons are also sub-segmented into ammonia, CO2, water, and others. Synthetic refrigerants/fluorocarbons are segmented into two types namely pure fluorocarbons and fluorocarbon blends. Pure fluorocarbons are further segmented into chlorofluorocarbons (CFCs), hydrofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), hydrofluoro Olefins (HFO) and others. Similarly, fluorocarbon blends are also segmented into two type’s, i.e., azeotropic and zeotropic (non-azeotropic). HFC, HFO, HFC/HFO blends and natural refrigerants are expected to witness high growth during the forecast period, 2017-2023 due to their eco-friendly properties, low GWP, and low ODS potential compared to synthetic counterparts.

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On the Basis of the Application, the Global Refrigerant is segmented into refrigerators, air conditioners, chillers/heat pump, and others. Refrigerators are sub-segmented into domestic refrigerators, commercial refrigerators (medium scale), industrial & supermarket refrigerator (large scale), and transport refrigerator. Air conditioners (AC) are further segmented into centralized AC, split AC, window AC, portable AC, and hybrid AC.  Air conditioners are projected to be the largest market for refrigerants in the forecast period due to the rising disposable incomes; rising standard of living, rapid technological advancements, and upcoming infrastructure projects on transport networks, and commercial & residential projects in the emerging economies.

Regional Analysis:

The Global Refrigerant Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is the major region in the global market. The Middle East & Africa is expected to show rising demand over the forecast period. North America and Europe is expected to show steady demand, which is further trailed by Latin America. Rising disposable income, changing lifestyle, upcoming transportation, domestic & commercial projects in the emerging economies are primarily driving the demand for air conditioners and refrigerators. Therefore, it is positively impacting the Global Refrigerant Market. Furthermore, growing industrialization across the globe is expected to drive the demand for chillers/heat pump.

Competitive Analysis:

Some of the key players in the Global Refrigerant Market are DAIKIN INDUSTRIES, Ltd. (Japan), The Chemours Company. (U.S.), Honeywell International Inc. (U.S.), Arkema S.A. (France), Dongyue Group Co. Ltd (China), Asahi Glass Co., Ltd. (Japan), Sinochem Group (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), SRF Limited (India), and DowDuPont Inc. (U.S.).

Market Scenario:

Refrigerant is a substance used as a medium of heat transfer, which picks up the heat by evaporating at a low temperature and pressure. It gives up the heat on condensing at a higher temperature & pressure, and coverts back to the gas phase in the refrigeration cycle. Refrigerants are designated by R followed by a unique number.

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Regional Analysis:

The Global Refrigerant Market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.  Asia Pacific is expected to be the largest textile coating market in terms of market size due to growing home furnishing, construction, transportation, healthcare, agriculture, and packaging industry on account of relaxed investments norms, growing economy, rising disposable income of the middle-class population. North America and Europe are expected to show steady demand for PU based textile coating due to vast applications in clothing, healthcare, transportation, construction, home furnishing, and others. The Middle East & Africa is expected to show significant demand for Textile Coating from the construction, clothing, home furnishing sector due to the flourishing tourism industry. The Latin American market is expected to grow at a slow pace due to low overall development.    

                                                                          

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Refrigerant Market | Research Insights, Business Outlook, Company Profiles, Trends and Forecast 2019-2023

Overview:

The Refrigerant Market is accelerating at a rapid pace owing to the changes it is witnessing in the consumer behavior. Urbanization, across the globe, has become a trend. As more and more cities are coming into being, the impacts of it are becoming more visible. This has triggered a demand for cooling mechanisms such as refrigerators and air conditioners. At the same time, the cold chain sector is getting traction from various industries which can squarely influence the Refrigerant Market. The refrigerant is a heat carrier, and in the refrigeration cycle, it runs in a loop between gas and liquid state. In the process, it controls temperature. The Global Refrigerant Market is expecting robust growth during the forecast period (2017-2023), reveals Market Research Future (MRFR). The detailed report also includes other factors such as an increase in disposable income, demand from the automobile sector, and domestic & commercial projects. These factors can impact the refrigerant market in the coming years considerably. The market is also witnessing significant growth for natural refrigerants owing to the diminishing use of fluorocarbon due to Montreal and Kyoto protocols.

Stringent regulations, however, can deter the refrigerant market growth during the forecast period. Global warming and depletion of the ozone layer can be considered the influencers for such imposing acts. However, the Refrigerant Market can reap the benefits of usage of hydrocarbon and other inorganic refrigerants. Eco-friendly options from various companies are providing enough opportunities to build a sustainable future.

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Segmentation:

The Global Refrigerant Market can be segmented by Type and Application.

Based on the Type, the Global Refrigerant Market can be segmented into natural refrigerants and synthetic refrigerants. The natural refrigerants include organic/hydrocarbons and inorganic refrigerants. Hydrocarbons are comprised of propane, n-butane, iso-butane, and others. Inorganic hydrocarbons can be sub-segmented into ammonia, CO2, water, and others. Synthetic refrigerants/fluorocarbons are segmented into two types, namely pure fluorocarbons and fluorocarbon blends. Pure fluorocarbons are further segmented into chlorofluorocarbons (CFCs), hydrofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), and hydrofluoro Olefins (HFO) and others. Fluorocarbon blends consist azeotropic and zeotropic (non-azeotropic).

Application-Wise Segmentation of the Refrigerant Market can be segmented into refrigerators, air conditioners, chillers/heat pump, and others. Refrigerators segment is further segmented into domestic refrigerators, commercial refrigerators (medium scale), industrial & supermarket refrigerator (large scale), and transport refrigerator. Air conditioners (AC) are sub-segmented into centralized AC, split AC, window AC, portable AC, and hybrid AC.

Regional Analysis:

Geographic Analysis of the Refrigerant Market includes Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA).

The APAC region is doing exceptionally well in this sector. Emerging economies such as Indian and China are providing significant traction to the regional market. Rising disposable income and huge population are proving to be major factors. At the same time, the revamped industrial sector is showing growing demand for chiller/heat pump application. The MEA market is having growth in the Refrigerant Market due to ongoing construction & infrastructural activities that are expected to boost the tourism industry. North America and Europe markets are more mature than the rest, and steady growth can be expected during the forecast period.

Competitive Analysis:

Prominent players operating in the Global Refrigerant Market are Honeywell International Inc. (U.S.), The Chemours Company. (U.S.), Asahi Glass Co., Ltd. (Japan), Arkema S.A. (France), DAIKIN INDUSTRIES, Ltd. (Japan), Dongyue Group Co. Ltd (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), Sinochem Group (China), SRF Limited (India), and DowDuPont Inc. (U.S.). The market banks mostly on the strategic moves taken by significant players for their individual growth which helps the refrigerant market in its holistic growth as well.

In December 2018, the Daikin Industries Ltd. finalized their agreement with Austria-based AHT Group with an aim to capitalize on environmental regulations.

In November 2017, the SRF Limited made a pact with the global titan Mexichem to buy HFC 125, a hydrofluorocarbon refrigerant, to substantially grow in the air conditioning industry.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Refrigerant Market 2018: Company Profiles, Market Segments, Landscape and Demand by Forecast 2023

Market Scenario

Refrigerant is a substance used as a medium of heat transfer, which picks up the heat by evaporating at a low temperature and pressure. It gives up the heat on condensing at a higher temperature & pressure, and coverts back to the gas phase in the refrigeration cycle. Refrigerants are designated by R followed by a unique number.

Market Segmentation

The Global Refrigerant Market is segmented by Type, Application and Region.

On the Basis of the Type, the Global Refrigerant Market is segmented into natural refrigerants and synthetic refrigerants. Natural refrigerants are further segmented into organic/hydrocarbons and inorganic refrigerants. Hydrocarbons are further segmented into propane, n-butane, iso-butane, and others. Similarly, inorganic hydrocarbons are also sub-segmented into ammonia, CO2, water, and others. Synthetic refrigerants/fluorocarbons are segmented into two types namely pure fluorocarbons and fluorocarbon blends. Pure fluorocarbons are further segmented into chlorofluorocarbons (CFCs), hydrofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), hydrofluoro Olefins (HFO) and others.
Similarly, fluorocarbon blends are also segmented into two type’s, i.e., azeotropic and zeotropic (non-azeotropic). HFC, HFO, HFC/HFO blends and natural refrigerants are expected to witness high growth during the forecast period, 2017-2023 due to their eco-friendly properties, low GWP, and low ODS potential compared to synthetic counterparts.

On the Basis of the Application, the Global Refrigerant Market is segmented into refrigerators, air conditioners, chillers/heat pump, and others. Refrigerators are sub-segmented into domestic refrigerators, commercial refrigerators (medium scale), industrial & supermarket refrigerator (large scale), and transport refrigerator. Air conditioners (AC) are further segmented into centralized AC, split AC, window AC, portable AC, and hybrid AC.  Air conditioners are projected to be the largest market for Refrigerants in the forecast period due to the rising disposable incomes; rising standard of living, rapid technological advancements, and upcoming infrastructure projects on transport networks, and commercial & residential projects in the emerging economies.

Competitive Analysis
Some of the key players in the Global Refrigerant Market are DAIKIN INDUSTRIES, Ltd. (Japan), The Chemours Company. (U.S.), Honeywell International Inc. (U.S.), Arkema S.A. (France), Dongyue Group Co. Ltd (China), Asahi Glass Co., Ltd. (Japan), Sinochem Group (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), SRF Limited (India), and DowDuPont Inc. (U.S.).

Regional Analysis
The Global Refrigerant Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is the major region in the global market. The Middle East & Africa is expected to show rising demand over the forecast period. North America and Europe is expected to show steady demand, which is further trailed by Latin America. Rising disposable income, changing lifestyle, upcoming transportation, domestic & commercial projects in the emerging economies are primarily driving the demand for air conditioners and refrigerators. Therefore, it is positively impacting the Global Refrigerant Market. Furthermore, growing industrialization across the globe is expected to drive the demand for chillers/heat pump.

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