World Refrigerants Market Analysis 2020-2025 - Growing Cold Chain Markets is Key Growth Driver
DUBLIN, Dec. 29, 2020 /PRNewswire/ -- The "Refrigerants Market by Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, Air, Water, Propene, Isopentane),Application(Domestic, Industrial, Commercial, Chillers, Split AC, VRF, Window, MAC), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The refrigerants market size is estimated to be USD 21.3 billion in 2020 and is projected to reach USD 30.8 billion by 2025, at a CAGR of 7.7% between 2020 and 2025. Factors such as increasing demand for consumer appliances and growing cold chain markets will drive the refrigerants market. The major restraint for the market will be the regulations imposed against the 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 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 the pharmaceutical & food industry. Factors such as the growing organized retail sector and increasing infrastructure spending on supermarkets with large sales areas are driving the demand for carbon dioxide in the region.
Split ACs is estimated to be the largest application segment in 2019 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 the 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 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.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on refrigerants offered by top players in the global refrigerants market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the refrigerants market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for refrigerants across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global refrigerants market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the refrigerants market
- Impact of COVID-19 on Refrigerants Market
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Refrigerants Market, by Type
7 Refrigerants Market, by Application
8 Refrigerants Market, by Region
9 Competitive Landscape
10 Company Profiles
11 Adjacent & Related Markets
Companies Mentioned
- A-Gas International
- A.S. Trust and Holdings (Asth)
- Air Liquide (Airgas Refrigerants Inc.)
- Arkema Sa
- Asahi Glass Corporation (Agc)
- Brothers Gas Bottling & Distribution Co. LLC
- Changsu 3F Fluorochemical Industry Co Ltd.
- Daikin Industries Ltd. (Daikin)
- Deepfreeze Refrigerants Inc.
- Dongyue Group Co. Ltd. (Dongyue)
- Eco-Freeze International
- Engas Australasia
- Gas Servei S.A.
- Gujarat Fluorochemicals Ltd.
- Harp International
- Honeywell International Inc. (Honeywell)
- Navin Fluorine International Ltd.
- Orbia
- Oz-Chill Refrigerants
- Puyang Zhongwei Fine Chemical
- Quimobasico
- Shandong Yuean Chemical
- Sinochem Group
- SRF Limited
- Tazzetti Spa
- The Chemours Company
- The Linde Group
- Zhejiang Fotech International Co Ltd
- Zhejiang Juhua Co Ltd
For more information about this report visit https://www.researchandmarkets.com/r/nzglkt
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