Market Study Report LLC has a newly added "Global Refrigerant Market Report" that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.
— Refrigerants can be defined as the heat transfer medium that absorb heat at low temperature and pressure, by means of evaporation and give up heat by means of condensation at high temperature and pressure. Suitable and good refrigerants can be defined as those having properties such as good stability, non-toxicity, non-flammability, and having atmospheric boiling point in between the range of 40 degree Celsius to 0 degree Celsius.
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There is a major role played by refrigerators in the overall food value chain. The temperature control of perishable food items at all steps of value chain is critical, and refrigerators play an important role in doing so. It is essential for preserving the flavor, vitamin content, texture as well as the color of the food item. Growing population, scarce resources and demand for packaged food has contributed to a growth in the food & beverage industry, and this trend is expected to continue over the forecast period, thus complementing refrigerant market growth.
The global refrigerants market size is anticipated to reach USD 22.16 billion by 2026 growing at a CAGR of 4.4% from 2019 to 2026 according to a new report. Zeotrope and azeotrope are the two major and basic classifications of refrigerant chemistry. The zeotrope can be separated by distillation by carrying out the fractionalization process. Two or more refrigerants can be blended to achieve properties suitable for customer requirements. The properties that can be modified include volumetric capacity, flammability, and discharge among others. Agencies such as the American Society of Heating, Refrigerating, and Air-Conditioning Engineers, Inc. (ASHRAE) have defined the nomenclature as well as standards to be used for refrigerants.
Major customers in this market demand refrigerants which are ozone saving, have wide applicability, is less costly and is suitable for the compressor type. According to the Montreal Protocol, the Ozone Depletion Potential (ODP) of a refrigerant has to be zero. In addition, it has to possess low Global Warming Potential (GWP).
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The main applications of refrigerants include chillers, air conditioners, heat pumps, refrigerators both large scale and domestic. Improvement in economic conditions across the globe has contributed to a rise in disposable income, increase in standard of living and has spurred a rise in urbanization thus contributing to a rise in sale of domestic appliances such as refrigerators. This trend is expected to benefit the refrigerants market growth over the forecast period.
Companies have to abide by strict rules and regulations as prescribed by the regulatory agencies. Some of the major industry participants include Arkema SA, Dongyue Group Co. Ltd., Honeywell International Inc., The Chemours Company, The Linde Group, Daikin Industries Limited, Mexichem, Sinochem Group, SRF Limited, Air Liquide (Airgas Refrigerants Inc.), Gujarat Fluorochemicals Ltd., Puyang Zhongwei Fine Chemical, Harp International among others.
Refrigerators are used widely in the medical sector. They are used in laboratories, pharmacies, for uses such as storage of medicine, and other equipments. The medical sector has experienced a rapid growth particularly in areas such as Asia Pacific. Thus, the growth of the medical sector is expected to in turn compliment the growth of the refrigerants market over the forecast period.
Table of Contents:
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Refrigerant Market Insights
3.1. Refrigerant industry segmentation explanation
3.2. Refrigerant industry snapshot
3.3. Refrigerant value chain analysis
3.4. Refrigerant policies and regulatory landscape
3.5. Refrigerant Market dynamics
3.5.1. Refrigerant Market driver analysis
3.5.2. Refrigerant Market restraint/challenges analysis
3.5.3. Refrigerant Market opportunity analysis
3.6. PORTERs analysis
3.7. Competitive company ranking analysis
4. Refrigerant Market Size and Forecast, By Product (USD Billion)
5. Refrigerant Market Size and Forecast, By Application (USD Billion)
6. Refrigerant Market Size and Forecast by Regions (Kilo Tons, USD Billion)
7. Refrigerant Market Company Profiles
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Global HVAC Refrigerant Market Insights, Forecast to 2025
A refrigerant is a substance or mixture, usually a fluid, used in a heat pump and refrigeration cycle. In most cycles it undergoes phase transitions from a liquid to a gas and back again. Many working fluids have been used for such purposes. Fluorocarbons, especially chlorofluorocarbons, became commonplace in the 20th century, but they are being phased out because of their ozone depletion effects. Other common refrigerants used in various applications are ammonia, sulfur dioxide, and non-halogenated hydrocarbons such as propane.
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