The latest report by IMARC Group, titled “Refrigerant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global refrigerant market reached a value of US$ 21.5 Billion in 2020. Looking forward, IMARC Group expects the global refrigerant market to exhibit moderate growth during 2021-2026. Refrigerants refer to chemical compounds that are used in vapor compression refrigeration systems to carry heat from the system release it to the atmosphere. The refrigerant goes through a series of vapor to liquid phase changes during the process. The earliest type of refrigerants were chlorofluorocarbon (CFC) compounds. However, they were identified as one of the greenhouse gases, and their production and use were restricted by the Montreal Protocols to combat climate change and protect the ozone layer. CFCs have since been replaced by hydrochlorofluorocarbons (HCFCs) and, more recently, by hydrofluorocarbons (HFCs), which are more effective and safer for the environment.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Refrigerants Market Trends:
Refrigerants are primarily used in refrigerators, freezers, air conditioners, and fire suppression systems. Apart from this, they are also used in the air conditioning systems in automobiles. In recent years, there has been an increasing requirement for deep freezers and refrigerators on account of the expanding cold chain infrastructure across the globe. Similarly, the utilization of HVAC systems has also witnessed a boost on account of improving standards of living and inflating income levels. As a result, several advancements have been made in refrigeration technology, including the development of low global warming potential (GWP) refrigerants that help to reduce both refrigerant charges and emissions. Moreover, as these compounds can be harmful when released into the atmosphere, manufacturers have developed the latest generation of refrigerant recovery machines. These machines can pull up to 95% of the refrigerant out of the AC systems to reduce the amount that escapes into the atmosphere.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Honeywell International Inc.
- Daikin Industries Ltd.
- Arkema S.A.
- Dongyue Group Limited
- The Chemours Company
- Orbia Advance Corporation S.A.B. de CV
- Sinochem Group Co. Ltd.
- Air Liquide S.A.
- AGC Group
- Linde Group
- SRF Limited
- Gujarat Fluorochemicals Limited
Breakup by Application:
Breakup by Product Type:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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