AMA Research, a global market research and consulting organization, have released a new study titled "Refrigerants market - Global outlook to 2027". Industries constant focus on reducing the operational cost and increased attention on core business, and need to improve scalability are expected to shape the Global Refrigerants market to grow at a CAGR of 6.7% to aggregate USD28.9 Billion by 2027.
According to Analyst at AMA Research, the Global Refrigerants market will experience significant growth during the forecast period due to potential opportunities lying in the market such as . Some of the important driving forces are Speedy growth of the automotive industry, Increasing Demand for Consumer Appliances and Rising Cold Chain Market.
Refrigerant is a chemical substance or mixture of fluids that function as cooling agents in heat pumps and refrigeration cycles. Its working is based on the principle of phase transition that is liquid to gas & vice versa at flexible operating temperatures. Various types of refrigerants can be used as a primary working fluids in absorption refrigeration systems as well as secondary fluids to convey thermal energy from one medium to another. The requirement of refrigerants has been rapidly increased in the industrial and commercial sectors over the years. Various types of refrigerants used in various applications are HCFC (HydroChlorofluorocarbons), HFC (hydrofluorocarbons), HFO (Hydrofluoroolefins), isobutane, propane, ammonia, carbon dioxide, as well as others.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Refrigerants market by Type (HCFC (HydroChlorofluorocarbons), HFC (hydrofluorocarbons), HFO (Hydrofluoroolefins), Isobutane, Propane, Ammonia, Carbon Dioxide and Others), by Application (Refrigeration Systems (Domestic, Commercial, and Industrial), Chillers, Air-Conditioning Systems (Window AC, Split AC, VRF (Variable Refrigerant Flow), and Others) and MACs (Mobile Air Conditioning Systems)) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key trends (current and future) of the market