What is Refrigerants?
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.
|Unit||Value (USD Billion)|
|Key Companies Profiled||Arkema S.A. (France), Dongyue Group Co. Ltd. (China), Honeywell International Inc. (United States), The Chemours Company (United States), The Linde Group (Ireland), Air Liquide S.A. (France), Navin Fluorine International Ltd.(India), Daikin Industries, Ltd. (Japan), Mexichem (Mexico) and AGC Inc. (Japan)|
Analysts at AMA Research estimates that Vendors from Japanese, Indian, French, and United States will contribute to the maximum growth of Global Refrigerants market throughout the predicted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Arkema S.A. (France), Dongyue Group Co. Ltd. (China), Honeywell International Inc. (United States), The Chemours Company (United States), The Linde Group (Ireland), Air Liquide S.A. (France), Navin Fluorine International Ltd.(India), Daikin Industries, Ltd. (Japan), Mexichem (Mexico) and AGC Inc. (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are SRF Limited (India), Sinochem Lantian Co. Ltd. (China) and Harp International Ltd.(United Kingdom).
The market study is broken down 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.
AdvanceMarketAnalytics has segmented the market of Global Refrigerants market by Type, Application and Region. On the basis of Type, Ammonia are dominating the market in the year 2021
On the basis of geography, the market of Refrigerants has been segmented into 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). Asia Pacific region held largest market share in the year 2021.
In response to European regulation the MAC Directive, Honeywell International has developed Solstice yf which has global warming potential less than 1 – more than 99.9 % below HFC-134a, the refrigerant which is currently in use, even less than carbon dioxide.
“European regulation activated the development of the latest generation of environmentally friendly refrigerants. The EU directive 2006/40/EC (“MAC Directive”) stipulates that all new vehicle types must be equipped with a refrigerant with a global warming potential (GWP) of less than 150. From 1 January 2017, all new passenger cars are required to use a low-GWP refrigerant.”
- Speedy growth of the automotive industry
- Increasing Demand for Consumer Appliances
- Rising Cold Chain Market
- Growing Demand for Natural Refrigerants
- Increasing Opportunities in Untapped Markets
- Strict Regulations against Fluorocarbon Refrigerants
- Flammability & Toxicity Issues
Key Target Audience
Refrigerants manufacturers, Dealers, and Suppliers of Refrigerants, Traders & Distributors of Refrigerants, Raw Material Suppliers, Regulatory Organisations, Government and Research Organisations, Industry Associations, End Users and Others
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.