This report was recently updated on April 13 2024 with the latest and most recent
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Global Refrigerants Market Size, Trends & Analysis - Forecasts to 2026 By Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, Air, Water, Propene, Isopentane), By Application (Domestic, Industrial, Commercial, Chillers, Split AC, VRF, Window, MAC); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Refrigerants Market Insights
As per the latest research conducted by Global Market Estimates, the refrigerants market will register an upward projection throughout the timeline from 2020-2026. Refrigerants are cooling mediums. They are used to absorb heat and pressure at low temperatures and they discharge heat at extraordinary temperatures and pressures. The growing demand for refrigerants in various applications such as industrial, commercial, and domestic refrigeration are boosting the market growth. The expanding cold chain market across the globe is also propelling the market growth for refrigerants. The growing usage of natural refrigerants such as ammonia, HCs, and carbon dioxide also supports the growth of refrigerants. Adoption of new technologies in cooling equipment’s is boosting the market growth.
Refrigerants Market: By Type
By type, the market is explained into isopentane, HCFC, isobutene, HFC, ammonia, HFO, propane, carbon dioxide, air, water, and propene among others. Among all the mentioned segments ammonia is the largest shareholder of the refrigerant market. Ammonia is also known as an inorganic refrigerant. Ammonia is widely used in various applications including industrial refrigeration, supermarket/hypermarket, and chillers among others. Ammonia offers various advantages compared to other types such as low-cost refrigeration, and high efficiency among others.
Refrigerants Market: By Application
By application, the market is segregated into commercial, split AC, domestic, chillers, industrial, MAC, VRF, and Window among others. The split AC segment will register a significant growth between the forecast period. The increased demand for ACs along with the growing standard of leaving is boosting the market growth for the split ACs segment.
Refrigerants Market: By Region
Asia- Pacific holds a greater grip in the refrigerant market than other regions and also expected to proliferate as the largest region in the coming years. The growing trend towards luxury products in economically stable countries are propelling the market growth in the region. Rapid industrialization along with expanding the manufacturing sector in the region is also propelling the market growth. The growing civil construction in developing countries in the region also boosting the market growth.
Refrigerants Market Share and Competitor Analysis
The key players operating in the market include Daikin Industries, Arkema S.A., Dongyue Group Co. Ltd., Mexichem, Asahi Glass Corporation, The Chemours Company, Sinochem Lantian Co. Ltd, The Linde Group, Air Liquide, and Honeywell International Inc among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Refrigerants Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Refrigerants Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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