DUBLIN, March 20, 2019 /PRNewswire/ -- The "Refrigerants Market by Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, Air, Water, Propene, Isopentane), Application (Domestic, Commercial, Industrial, Chillers, Split AC, VRF, Window, MAC), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The refrigerants market size is estimated to be USD 22.9 billion in 2018 and is projected to reach USD 31.0 billion by 2023, at a CAGR of 6.2% between 2018 and 2023.
Factors such as increasing demand for consumer appliances and growing cold chain market will drive the refrigerants market. The major restraint for the market will be the regulations imposed against usage of fluorocarbons such as HCFCs and HFCs in North America and Europe. However, the increasing demand for natural refrigerants will act as an opportunity for the market.
Carbon dioxide is expected to be the fastest-growing type segment in the refrigerants market.
Carbon dioxide is used as a refrigerant in various applications such as supermarket/hypermarket, transport, industrial, and chillers. Its thermos-physical properties such as good heat transfer coefficient, negligible pressure loss, and low viscosity make it a potential refrigerant for these applications. Carbon dioxide is estimated to be the fastest-growing refrigerant during the forecast period. Inorganic refrigerants such as carbon dioxide are mostly used in supermarket/hypermarket and pharmaceutical & food industry. Factors such as the growing organized retail sector and increasing infrastructure spending on supermarket with large sales areas are driving the demand for carbon dioxide in the region.
The split ACs application is projected to account for the largest share, in terms of volume and value, of the overall refrigerants market between 2018 and 2023.
Split ACs is estimated to be the largest application segment in 2018 and is expected to continue its dominance throughout the forecast period. Refrigerants have a high demand in the split ACs application in APAC. This is due to the surge in building & construction end-use industry, high economic growth rate, and an increasing standard of living and disposable income. Economic & demographic growth, increasing residential building activities, growing urbanization, and housing construction expenditure are the important drivers of the refrigerants market in the split ACs application.
APAC is expected to be the fastest-growing refrigerants market during the forecast period, in terms of volume.
APAC is the fastest-growing refrigerants market. The rising disposable income of consumers along with the changing lifestyle plays a significant role in boosting the refrigerants market. The market growth of refrigerants in the region is mainly attributed to China - the largest refrigerants market globally. Large consumer markets and lower cost of production in India and China are driving the region's refrigerants market. Moreover, rapid urbanization, demand for domestic consumer appliances, and the reviving infrastructure industry in countries such as Thailand and Indonesia are expected to support the growth of the refrigerants market in Southeast Asia during the forecast period.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Refrigerants Market
4.2 Refrigerants Market, By Region
4.3 APAC Refrigerants Market, By Country and Application
4.4 Refrigerants Market, By Major Countries
4.5 Refrigerants Market, By Application
5 Market Overview
5.2 Market Dynamics
126.96.36.199 Increasing Demand for Consumer Appliances
188.8.131.52 Growing Cold Chain Market
184.108.40.206 Increasingly Stringent Regulations Against Fluorocarbon Refrigerants
220.127.116.11 Flammability and Toxicity Issues
18.104.22.168 Increasing Demand for Natural Refrigerants
5.3 Porter's Five Forces
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
6 Refrigerants Market, By Type
6.2.1 The Future Demand for HCFC is Governed By the Timelines Mentioned in the Montreal Protocol
6.3.1 APAC is Estimated to Be the Fastest-Growing Market for HFC During the Forecast Period
6.4.1 North America is the Fastest-Growing Market for HFO Owing to Consumer Awareness to Sustainable Refrigerants
6.5.1 North America is the Fastest-Growing Market for Isobutane Owing to Its Large Manufacturing Industry Base
6.6.1 Presence of A Large Number of Appliances Manufacturers Boosts the Demand for Propane in APAC
6.7.1 Emergence of China as A Leading Grocery Market Drives Ammonia's Demand in APAC
6.8 Carbon Dioxide
6.8.1 Growth of Supermarkets and the Food & Processing Industry is Driving the Demand for Carbon Dioxide Refrigerants
7 Refrigerants Market, By Application
7.2 Refrigeration Systems
7.2.1 Domestic Refrigeration
22.214.171.124 APAC is Estimated to Be the Largest Market for Domestic Refrigeration Owing to Its Large Population
7.2.2 Commercial Refrigeration
126.96.36.199 The Demand for Commercial Refrigeration is Increasing Due to the Growing Retail Industry in APAC
7.2.3 Industrial Refrigeration
188.8.131.52 Large Industrial Base of APAC Drives the Demand for Refrigerants in the Industrial Refrigeration Application
7.3.1 APAC is Largest Market for Chillers Application Owing to Growing Investments in Industries of China and India
7.4 Air-Conditioning Systems
7.4.1 Window Ac
184.108.40.206 North America is Expected to Be the Largest Refrigerants Market in Window ACS
7.4.2 Split Ac
220.127.116.11 APAC is the Largest Consumer of Split ACS Owing to Rapid Urbanization and Increasing Spending Income
7.4.3 VRF (Variable Refrigerant Flow)
18.104.22.168 APAC is Estimated to Be the Fastest-Growing Market in the VRF Segment Owing to the Growing Construction Industry
7.5 Mac (Mobile Air Conditioning System)
7.5.1 APAC is Expected to Be the Largest Market in Mac Segment Owing to the Large Automotive Manufacturing Base
8 Refrigerants Market, By Region
9 Competitive Landscape
9.1 Competitive Leadership Mapping
22.214.171.124 Visionary Leaders
9.1.2 Strength of Product Portfolio
9.1.3 Business Strategy Excellence
9.2 Competitive Leadership Mapping (Start-Up/SMSE)
126.96.36.199 Progressive Companies
188.8.131.52 Responsive Companies
184.108.40.206 Starting Blocks
9.2.2 Strength of Product Portfolio
9.2.3 Business Strategy Excellence
9.3 Market Share of Top Players
9.4 Competitive Situation and Trends
9.4.2 New Product Launch
9.4.4 Merger & Acquisition
10 Company Profiles
10.1 Arkema SA
10.2 Dongyue Group Co. Ltd.
10.3 Honeywell International Inc.
10.4 The Chemours Company
10.5 The Linde Group
10.6 Air Liquide (Airgas Refrigerants Inc.)
10.7 Sinochem Group
10.8 Daikin Industries Ltd.
10.10 Asahi Glass Corporation (AGC)
10.11 List of Other Manufacturers/Bottlers/Suppliers
10.11.1 Srf Limited
10.11.2 Gujarat Fluorochemicals Ltd.
10.11.3 Navin Fluorine International Ltd.
10.11.4 A-Gas International
10.11.5 Oz-Chill Refrigerants
10.11.6 Puyang Zhongwei Fine Chemical
10.11.7 Shandong Yuean Chemical
10.11.8 Harp International
10.11.10 Zhejiang Juhua Co Ltd
10.11.11 Tazzetti Spa
10.11.12 Gas Servei S.A.
10.11.13 Zhejiang Fotech International Co Ltd
10.11.14 Refrigerant Solutions
10.11.15 Changsu 3F Fluorochemical Industry Co Ltd.
10.11.16 A.S. Trust and Holdings (ASTH)
10.11.17 Brothers Gas Bottling & Distribution Co. LLC
10.11.18 Deepfreeze Refrigerants Inc.
10.11.19 Eco-Freeze International
10.11.20 Engas Australasia
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