Market Scenario:
Global refrigerant market is expected to reach 2,019.96 Thousand Metric Tons by 2025 from 1,306.44 Thousand Metric Tons in 2017, at a CAGR of 5.7% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The major factors driving the growth of this market are china focusing on natural refrigerants as advised by MEP/FECO china, technological changes such as low GWP refrigerants, growth in the cold chain market and increase in the disposable income leading to rise in purchasing power of consumer appliances. On the other hand, government regulation on cutting down HFC emission, banned gases owing to regulation such as SNAP and increasing threats of ozone depletion and global warming may hinder the growth of the market.
The demand for cooling equipment is high in developing countries, owing to rapid industrialization and rise in inclination of industrialists towards efficient cooling systems. Moreover, increase in per capita disposable incomes in developing countries, such as China, India, and Indonesia has led to upsurge in the use of air conditioning systems; thereby, leading to unprecedented increase in energy demand across the globe. In addition, surge in the demand for better maintenance of industrial equipment that require cold surroundings across various manufacturing units coupled with rise in the demand for absorption chillers in oil & gas refineries are some key aspects augmenting the growth of the global refrigerants market. Furthermore, increase in the demand for domestic air conditioning systems, owing to significant rise in per capita disposable incomes especially in developing economies is another key element bolstering the growth of the global refrigerants market.
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Top Industry Players:
The key market players for global refrigerant market are listed below:
- The Chemours Company
- Arkema SA
- Honeywell International Inc.
- Dongyue Group Co. Ltd.
- The Linde Group
- Daikin Industries Limited
- Mexichem S.A.B. De C.V.
- Sinochem Corporation
- Asahi Glass Co. Ltd. (AGC)
- SRF Limited
- Air Liquide
- A-Gas International
- OZ-Chill Refrigerants
- Shandong Yuean Chemical
- Gas Servei S.A.
- Zhejiang Fotech International Co Ltd.
- Changsu 3F Fluorochemical Industry Co Ltd.
- Tazzetti SPA
- Quimobasico
Key features of Refrigerant market:
- In-depth knowledge of Refrigerant market that supports opportunities, growth, restraints and practicability study.
- Study of emerging markets furthermore a complete analysis of existing Refrigerant market segments.
- Dominating market Refrigerant players are cited in the report.
- The developing Refrigerant market tendencies and technologies have accelerated number of enterprise models and corporations across the globe.
- Decent classification of Refrigerant market is done on the basis of end-user applications, major product type, mode of transport, market size, and application.
- The data provided in this research Refrigerant report is descriptive not only in terms of quantity but also quality
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Market Segments:
The market is further segmented into:
- Industry
- Application
On the basis of industry type, the global refrigerant market is segmented into domestic household, industrial refrigeration, commercial racks & condensing units, and light commercial. In 2018, domestic household based market segment is expected to dominate the global refrigerant market with 43.3% market share and is expected to reach 897.02 thousand metric tons by 2025, growing with the highest CAGR of 6.1%.
On the basis of application type, the global refrigerant market is segmented into refrigerators, large scale refrigerators, chillers, air conditioners, heat pumps and others. In 2018, refrigerators based market segment is expected to dominate the global refrigerant market with 38.7% market share and is expected to reach 812.47 thousand metric tons by 2025, growing with the highest CAGR of 6.3%.
Based on geography, the market is segmented into 5 geographical regions:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
Covered in this report
The report covers the present scenario and the growth prospects of the global refrigerant for 2018-2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.
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