According to a market research report, the “Refrigerants Market by Type (HFC & Blends, HFO, Isobutane, Propane), Application (Refrigeration System, Air Conditioning System, Chillers, MAC) and Region (APAC, North America, Europe, MEA, South America) – Global Forecast to 2028″, will grow to USD 9.0 billion by 2028, at a CAGR of 6.4% from USD 6.3 billion in 2022. The major drivers for this market are the increasing demand for consumer appliances such as refrigeration and air conditioning equipment and the growing cold chain market. Factors such as growth in the organized retail framework, a shift toward horticultural crops, and growth in the processed food sector have also contributed to the demand for refrigerants. Increasing regulations against fluorocarbon refrigerants due to their flammability and toxicity issues restrain the market growth. Owing to the increasing regulations on fluorocarbons, the refrigerants market is likely to witness increased demand for natural refrigerants, which may present an opportunity for the market to grow.
Download PDF Brochure: https://www.
Browse
- 311 Market data Tables
- 58 Figures
- 307 Pages and in-depth TOC on “Refrigerants Market – Global Forecast to 2028″
This report also provides a comprehensive analysis of the companies listed below:
The key players in this market are Honeywell International Inc. (US), The Chemours Company (US), The Linde Group (Ireland), Air Liquide (France), Daikin Industries Ltd. (Japan), Sinochem Group (China), Arkema S.A. (France), and Orbia (Mexico).
Players in the refrigerants market are adopting both organic and inorganic growth strategies in order to grow their regional and global presence within the market. These major players are continuously developing new products to cater to their customer needs. They are also aggressively acquiring other small companies to increase their market share within the global market.
Request Sample Pages: https://www.
Honeywell offers products across the building, personal safety, vehicles, footwear, industrial, manufacturing, aerospace & defense, oil & gas, security & fire, healthcare & medical, chemicals, and specialty material industries, among others. The company operates through the following segments, namely, aerospace, performance materials and technologies, Honeywell building technologies, and safety and productivity solutions. It manufactures and markets refrigerants under the performance materials and technologies segment. The company has a strong sales network in the US and Europe. In January 2022, Honeywell launched a new non-flammable energy-efficient Solstice N71 (R-471A) refrigerant to meet the stringent regulations regarding reducing greenhouse gas emissions. The company offers a wide range of refrigerants such as HFC and HFO for applications in supermarkets, commercial air conditioners, residential air conditioners, and mobile air conditioning. It is also continuously expanding its product portfolio through new product launches.
The Chemours Company is a spin-off of DuPont (US) which offers solutions for various end-use industries. The company is among the leading players in the refrigerants market and operates through four major business segments, namely, titanium technologies, thermal & specialized solutions, advanced performance materials, and chemical solutions. It manufactures and markets refrigerants under the thermal & specialized solutions business segment. The company offers refrigerants through two brand names, Freon and Opteon. It has a wide geographical presence and meets the demands of customers in North America, Europe, Middle East & Africa, Asia Pacific, and South America. In February 2020, The Chemours Company announced the successful installation of the Opteon refrigerant at the Pepsi Center, home of Colorado Avalanche. Opteon, the official refrigerant solution of the NHL, is a sustainable and cost-effective refrigerant offering for ice refrigeration chiller systems. The Chemours Company focuses on continuous innovations and plans to meet global demands by 2030. It is continuously taking up new opportunities to overcome challenges by offering products that are efficient and environment-friendly. Recently, the company upgraded its automotive air conditioning and created the Option YF refrigerant with 99.9% potential to reduce global warming.
Asia Pacific emerged as the largest market for refrigerants due to rapid urbanization, industrial growth, and a rising middle class. The region’s increasing demand for air conditioning, refrigeration, and HVAC systems, coupled with stringent environmental regulations, fueled the demand for eco-friendly refrigerants. As the region continues to witness economic development and infrastructural advancements, the refrigerants market in Asia Pacific is expected to maintain its prominent position in the coming years.
Inquire Now: https://www.
